Sustainable Packaging Market to Reach $400 Million by 2024

The sustainable packaging market is expected to reach $400 million by 2024, according to a new report by Zion Market Research.

The report lists major players in the sustainable packaging market as:

• Amcor Limited
• Bemis Company Inc.
• Tetra Laval International S.A.
• Mondi PLC
• Westrock Company
• BASF SE
• Sonoco Products Company

Last month, Amcor announced it is the latest sustainable packing company to make a pledge to be more environmentally responsible.  According to the company, it is the first global packaging company pledging to develop all its packaging to be recyclable or reusable. Amcor says it will be helping to solve some of the inherent recycling challenges by using its “capability, scale and reach.” The company joins 10 leading brands and retail companies making the same 2025 commitment, in collaboration with the Ellen MacArthur Foundation (EMF).

In April 2018, Mondi helped consumer goods company Henkel find technology solutions that would allow the company to incorporate more of its scrap plastic into a highly functional — and aesthetically pleasing — flexible laminate packaging material. Thirty percent of the resulting flexible package’s PE layer consists of industrial waste reclaimed from Mondi’s factory in Halle, Germany. That means the overall package structure contains about 10% regrind material.

In late January, packaging company Smurfit Kappa called on the industry — and its own designers — to develop sustainable packaging solutions. The company is challenging designers, engineers, inventors and “creative thinkers” to come up with packaging innovations that will replace existing, un-recyclable packaging waste.

Packaging accounts for almost 45% of the demand for plastic in the world, Smurfit Kappa points out, and packaging design has an essential role to play in reducing the amount of waste generated and in delivering a more sustainable future.

The 4th Annual Environmental Leader & Energy Manager Conference takes place May 13 – 15, 2019 in Denver. Learn more here.