Sustainable Packaging will hit $400 million by market capital in 2024. Zion Market Research who have authored the report have identified several key players who will drive the growth.
Sourced through Scoop.it from: www.environmentalleader.com
Sustainable Packaging will hit $400 million by market capital in 2024.
Zion Market Research who have authored the report have identified several key players who will drive the growth. This includes the likes of Amcor Flexibles Packaging, Mondi Packaging Films, BASF SE and Sonoco Packaging.
Amcor Flexibles Packaging announced last month that it will pledge to commit to sustainable packaging into the long term as well as being a more environmentally friendly company across the board.
Future packaging developments and innovations will focus around recyclable or usable as a focus point, rather than a secondary consideration.
Amcor have also said they want to solve some of the recycling challenges that revolve around the ‘scale and reach’ of their current packaging lines.
Amcor is joining up with 10 other major flexible packaging manufacturers in order to make the same 2025 commitment. This is all in cooperation with the Ellen Macarthur Foundation (EMF).
During 2018 Mondi Packaging Films assisted global adhesive giant Henkel in helping them find more technological solutions to transform their plastic waste.
Here they have successfully converted huge volumes of scrap into aesthetically attractive and functional laminated packaging foil.
Over 30% of the PE layer in this material is manufactured from industrial waste that would otherwise be discarded.
This trend from packaging manufacturers to commit to sustainability is most needed. Over 45% of all the plastic demand globally goes into the production of packaging. Manufacturers must play a central role in creating viable alternatives.