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Global Renewable Plastic Packaging Market is projected to grow at a CAGR of 17.7% By 2031: Visiongain Research Inc
Visiongain has published a new report entitled the Renewable Plastic Packaging Market Report 2021-2031: It includes profiles of Renewable Plastic Packaging and Forecasts Market Segment by, (Market Value (USD Million), Market Volume (Thousand Ton)) Market Segment by Type (Biodegradable Plastic, Bio-Based Plastic) Market Segment by Product (Flexible Plastic Packaging, Rigid Plastic Packaging, Industrial Plastic Packaging, Other Product) Market Segment by Application (Consumer Goods, Textiles, Agriculture & Horticulture, Automotive & Transport, Other Application) Market Segment by Material (Starch Blends, Polylactic Acid (PLA), Polybutyrate Adipate Terephthalate (PBAT), Nylon Plastic (PA), Polyethylene (PE), Polytrimethylene Terephthalate (PTT), Polyethylene Terephthalate (PET), Polybutylene Succinate (PBS), Polyhydroxyalkanoates (PHA), Polypropylene (PP), High-density Polyethylene (HDPE), Low-density Polyethylene (LDPE), Other Material) PLUS COVID-19 Impact Analysis and Recovery Pattern Analysis (V-shaped, W-shaped, U-shaped, L-shaped) Profiles of Leading Companies, Region and Country.
The global renewable plastic packaging market was valued at US$1516 million in 2020 and is projected to grow at a CAGR of 17.7% during the forecast period 2021-2031.
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Shift to Mono-Materials
Multi-material laminates and composite packaging are one of the largest obstacles to recycling (not recycling itself, for which the biggest problem is collection and infrastructure). Herstellers have thus made a major effort to go towards mono-packaging (laminates included). There is a danger that solutions made from mono-materials can be considerably heavier and larger than composites and may need additional additives. The explanation is simple, because of their insulting qualities, firms utilize aluminum layers in laminates which demand thicker and eventually more massive layer when replaced by plastics or paper.
How has COVID-19 had a significant negative impact on the Renewable Plastic Packaging Market?
As the coronavirus pandemic spreads and its humanitarian impact grows, sectors that help meet basic necessities, such as providing food and supplies to consumers securely, are being increasingly impacted. With food packaging being the greatest sector of activity in the packaging business, the $900 billion per year global industry is on the front lines. The coronavirus epidemic has already resulted in some of the greatest drops in demand for certain types of packaging in recent history, while speeding growth for others, such as packaging for e-commerce shipments, which are emerging as lifelines in this new world. The coronavirus crisis will have a mixed influence on the packaging business, as has already been seen in nations such as China and South Korea, who were among the first to face the epidemic. Packaging for groceries, healthcare supplies, and e-commerce transportation will see a significant increase in demand. Simultaneously, demand for industrial, luxury, and some B2B-transport packaging may fall. The impact on packaging players will be determined by their portfolios and exposures to various areas, package end uses, and substrates.
How will this Report Benefit you?
Visiongain's 855+ page report provides 550 tables and 529 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the global renewable plastic packaging market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for Renewable Plastic Packaging. Get the financial analysis of the overall market and different segments including type, product, material, application and capture higher market share. We believe that high opportunity remains in this fast-growing renewable plastic packaging sector. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report would help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximize the productivity of the company.
What are the current market drivers?
Combining Plant-Based Packaging with Nanotechnology
Several businesses throughout the world have produced "smarter" bioplastics in areas like Portugal and Greece, which better preserve food by using nanotechnologies. In such situations, nanotechnology is utilized to produce a greater barrier to oxygen than plastics alone can, and food is much longer. These bioplastics are covered with an EU group chemical called SINTEF. The main project is to add biosensors to packaging that will notify customers when a meal is no longer suitable for eating. It not only blocks more oxygen and allows food to survive much, much longer than previously but also eliminates the need to 'measure' or expire. These dates often differ according to how strongly customers stick to food, how effectively food is preserved, if food is exposed to humidity and more.
Awareness to Packaging Waste in Oceans and Landfills Is Driving Change
Packaging is omnipresent in everyday life and reduces food waste and total product rupture at cheap prices, with enhanced comfort characteristics. Due to variations in choice of substrates and expanding new end-markets, a large worldwide packaging sector has grown throughout the last decade. The key developments are the increasing usage of plastics to replace traditional mediums and meet the need for convenience of customers, but also economic growth in China and other growing regions. But the growing use of single-use packaging containers has caused a huge environmental load, and packaging waste management has been confronted with a crisis because of two unresolved challenges: Recyclability of packaging. In present recycling methods, large quantities of packaging generated today cannot be recycled. This is particularly true for multipurpose packaging, which offers today an important and unsolved recycling problem.
Where are the market opportunities?
4.4.2 Green Packaging from a Business Perspective
As already said, firms seek to minimize, reuse and recycle consumer requests. For this purpose, firms need to discover green practice aspects to include appropriate materials and fresh designs in order to develop real green products. Indeed, efforts need to be focused not only on the usage of environmentally friendly materials but also on packaging to prevent pollution. Green manufacture, which promotes resource efficiency in order to decrease environmental impacts, is an advanced manufacturing method. The usage of non-toxic matter and environmental contamination by product and the use of biodegradable mat- Sustainability are required for green manufacturing systems.
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Opportunities in Packaging Design
Packaging serves mainly 2 functions: protecting or extending the lifetime of enclosed items (including facilitating transportation and storage) and supporting product promotion. However, it is also possible for the packaging sector to investigate additional sustainable roles. Consumer attitudes and their use and disposal comportments are an important consideration for packaging since they may make a substantial contribution to the overall environmental impact of the life cycle of the packaging and its products. Please note that the use and disposal phase is important during the design process. Many of the present packaging are meant for single use, which means that customers have a large duty to control the end-of-life, whether they end up in the proper trash or reuse it.
Competitive Landscape
The major players operating in the renewable plastic packaging market are Amcor Plc, Berry Global Company, Cosmo Films Ltd., Dunmore Corporation, Gerresheimer AG, Huhtamaki Oyj, Mitsubishi Chemical Corporation, Inc, Mondi PLC, Sealed Air Corporation, Sonoco Products Company, Polyplex Corporation Limited , Uflex Ltd, Royal DSM N.V, Plastic Suppliers Inc, Smurfit Kappa Group Plc, These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product launch.
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Information found nowhere else.
With our newly report title, you are less likely to fall behind in knowledge or miss out on opportunities. See how our work could benefit your research, analyses, and decisions. Visiongain's study is for everybody needing commercial analyses for the Renewable Plastic Packaging Market and leading companies. You will find data, trends and predictions.
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About Visiongain
Visiongain is one of the fastest growing and most innovative, independent, market intelligence around, the company publishes hundreds of market research reports which it adds to its extensive portfolio each year. These reports offer in-depth analysis across 18 industries worldwide. The reports cover a 10-year forecast, are hundreds of pages long, with in depth market analysis and valuable competitive intelligence data. Visiongain works across a range of vertical markets, which currently can influence one another, these markets include automotive, aviation, chemicals, cyber, defense, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors. Our customized and syndicated market research reports mean that you can have a bespoke piece of market intelligence customized to your very own business needs.
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