The plantable packaging market is expected to grow significantly over the next decade, with projections showing it will be valued at US$ 120.0 Million in 2023 and rising to US$ 340.0 Million by 2033, with a significant compound annual growth rate (CAGR) of 11.0%.
The environmental friendliness of plantable packaging is one of its most important benefits. When searching for environmentally friendly packaging, buyers who care about the environment may consider plantable packaging, which is made from natural and biodegradable materials.
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Additionally, governments all around the world are implementing policies to reduce plastic waste and promote environmentally friendly packaging. This enables manufacturers of plantable packaging to profit from the rising demand for eco-friendly substitutes.
Because it serves as both a packaging material and a means of growing plants, plantable packaging offers a special value proposition to customers. This distinctive approach can assist companies in standing out in a crowded market and luring clients who are looking for something different.
However, there are a few factors that stakeholders should be aware of before entering the market. The plantable packaging market size remains modest in comparison to other packaging materials, which may limit the potential for high returns on investment in the short term.
The increasing demand for eco-friendly products has been a driving force behind the growth of the plantable packaging market. Consumers are actively seeking products with sustainable packaging, and businesses are responding to this demand. According to recent market research, the global plantable packaging market is projected to experience significant growth in the coming years.
The food and beverage industry registered a market share of 52.1% in 2022, and plantable packaging is an effective marketing tool for companies that want to advertise their commitment to sustainability and attract environmentally conscious consumers.
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North America has a significant market share of 26.3% and is home to the Sustainable Packaging Coalition (SPC), which provides companies with tools and resources to implement sustainable packaging solutions like plantable packaging. Major retailers like Walmart and Target are also exploring eco-friendly packaging alternatives.
Europe captured a strong market share of 32.0% in the plantable packaging industry in 2022. The EU Circular Economy Action Plan and legislation in various European countries limit plastic waste and promote sustainable packaging options. Some European companies specialize in plantable packaging solutions, like GreenBottle in the UK.
India is showing promising growth in the plantable packaging market with a projected growth trajectory of 7.9%. The government’s Green Good Deeds campaign and initiatives by businesses like Sow and Grow in Mumbai are encouraging the use of eco-friendly packaging materials like plantable packaging.
Competitive Landscape:
The market is fragmented, with several big companies as well as some global and regional small-and-medium-sized firms operating globally. Many businesses compete based on the quality of their products and the production technology they use. Major firms are engaging in mergers and acquisitions, infrastructure development, expanding manufacturing facilities, investing in R&D facilities, and looking for possibilities to integrate vertically across the value chain.
- Amcor will produce an eco-friendly chocolate pack in South America in 2021. The recyclable plastic packaging for powdered chocolate was created and manufactured by the firm. The package cut its carbon footprint by 53% compared to the prior packaging.
- Amcor created a groundbreaking packaging solution for healthcare packaging in April 2021. The latest addition to the recyclable healthcare packaging product portfolio is the new AmSky blister system.
Key Players:
Amcor Limited, 3M Company, Bemis Company, Inc., Chevron Phillips Chemical Company LLC, and Honeywell International Inc.
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Key Segments Covered:
By Material:
- Cardboard
- Bioplastic
- Mushroom
- Agave
By Packaging Formats:
- Bags & Pouches
- Trays
- Boxes & Cartons
- Wraps & Sheets
- Others
By End-User:
- Food and Beverages
- Pharmaceutical
- Personal Care and Cosmetics
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan (APEJ)
- Japan
- Middle East & Africa (MEA)
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About FMI:
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.
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