From GlobeNewswire: 2024-11-14 05:00:00

The Plant-Based Packaging Market is on the rise, valued at USD 5.36 billion in 2023 and projected to reach USD 10 billion by 2032. Consumer demand for sustainable products has driven growth, with a shift towards eco-friendly practices. Stricter regulations worldwide are pushing companies towards plant-based packaging to comply with environmental standards.

Advancements in material science have enhanced the performance and affordability of plant-based packaging, making it more competitive with traditional options. The market is segmented by material type, with paper & paperboard leading in 2023. Flexible packaging, including pouches and wraps, is expected to grow at a CAGR of over 9%.

North America led the market in 2023, with over 35% share, driven by regulations and consumer demand. Companies like Amcor, Mondi Group, and Tetra Pak are active players in the plant-based packaging industry. The market research report covers material types, product types, and end-use industries, offering insights and forecasts from 2021 to 2032.

Global Market Insights Inc. is a global market research provider based in Delaware, offering syndicated and custom reports for key industries. Their reports provide actionable market data for strategic decision-making in sectors like chemicals, technology, and renewable energy.



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