New York, Oct. 06, 2023 (GLOBE NEWSWIRE) -- The global PVC-Free Packaging Market is expected to witness significant growth at a CAGR of 5.0% during the forecast period of 2023-2031. Factors such as the high demand for PVC-free packaging in the pharmaceutical industry, increasing government restrictions on the use of PVC packaging in certain regions, and others are accelerating the demand for PVC-free packaging, which, in turn, is boosting market growth. In addition, the growing awareness regarding the harmful effects of the PVC-packaging will further boost the market growth during the forecast period.
According to a recent report by Consegic Business Intelligence, the PVC-free packaging market is poised for strong expansion and is expected to reach USD 5,818.22 Million by 2031 with a compound annual growth rate of 5.0% during the forecast period of 2023-2031. The market was valued at USD 3,787.04 million in 2022 and is expected to reach USD 5,818.22 million in 2031. The report highlights the high demand for PVC-free packaging in the pharmaceutical industry across the globe, which is augmenting the global market growth. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the PVC-Free Packaging market.
Get Sample Report@ https://www.consegicbusinessintelligence.com/request-sample/1294
PVC plastic, or polyvinyl chloride, is a rigid plastic that is designed to withstand harsh impacts and extreme temperatures. This type of material is highly used in various end-user indsutries for different packaging applications. PVC-free packaging refers to packaging materials that do not contain PVC or polyvinyl chloride. PVC-based plastic packaging materials have a significant impact on the health and environment due to the presence of several plasticizers in it. When a plasticizer from this plastic material in a medical, dental, drug, or food application comes in contact with a human, can cause severe health issues and even cancer.
The pharmaceutical industry relies on PVC-free packaging materials for the packaging of medications to ensure the integrity and safety of the drugs contained. Similarly in the food and beverages industry non-PVC plastic packaging such as PET and HDPE are used for bottling beverages and packaging food items.
Global PVC-Free Packaging Market: Report Attributes
| Report Attributes | Report Details |
| Study Timeline | 2017-2031 |
| Market Size in 2031 (USD Million) | USD 5,818.22 Million |
| CAGR (2023-2031) | 5.0% |
| By Packaging Type | Rigid Packaging and Flexible Packaging |
| By Material Type | PVC-Free Blisters, PVC-Free Closures, PVC-Free Liners, and Others |
| By End-user Industry | Food & Beverages, Homecare, Pharmaceuticals, Personal Care & Cosmetics, Chemicals & Fertilizers, and Others |
| Report Coverage | Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more. |
| By Region | North America, Asia-Pacific, Latin America, Europe, Middle East & Africa |
| Key Players | Amcor Limited, Sacmi Group, Tekni-Plex, Inc., Constantia Flexibles Group GmbH, Selig Group, Technovinyl Polymers India Ltd., World Bottling Cap, LLC., Danburry Plastics, ACTEGA, Borealis AG, Weener Plastics, and Crown Holdings, Inc. |
Immediate Delivery Available, Buy Now @ https://www.consegicbusinessintelligence.com/secure-checkout/1294
Global PVC-Free Packaging Market Segmentation Details:
Based on Packaging Type, the rigid packaging segment contributed the largest shares to the market growth in 2022. Rigid packaging provides sturdiness and aesthetic appeal to the packaging. Various types of products such as boxes, trays, containers, cans, bottles, jars, and other formats are involved in these types of packaging. The significant benefits of rigid packaging over other packaging types are driving the segment growth across the globe.
Based on Material Type, the PVC-free closures segment accounted for the largest market share in the year 2022. The growing innovations and launch of new and advanced materials for the development of PVC-free enclosures are driving the segment's growth. For instance, in June 2023, TotalEnergies announced the commercial launch of a new high-density polyethylene (HDPE) resin for tethered cap applications, allowing for a reduction in material usage, enhanced recovery, and improved recycling.
Based on the End-user Industry, the food & beverages segment accounted for the largest market share in the year 2022. PVC-free packaging finds various applications in the food & beverages industry owing to its safety, sustainability, and regulatory compliances. Increasing focus by the key player for the launch of various PVC-free packaging products is driving the segment growth globally.
Get Sample Report@ https://www.consegicbusinessintelligence.com/request-sample/1294
Based on Region, in the year 2022, Asia Pacific accounted for the largest share contribution to the market growth. The pharmaceutical and food and beverages industries are some of the highest consumers of PVC-free packaging materials owing to the higher contamination risk of PVC in their products. The significant growth in the pharmaceutical and food and beverages industry across the region is driving the PVE-free packaging market across the region.
Competitive Landscape
Amcor Limited, Sacmi Group, Tekni-Plex, Inc., and ACTEGA, are major market players that comprise the latest market circumstances. These companies are substantially leveraging their technologies for the development of a new range of PVC-free packaging. Further, the PVC-Free Packaging market is expected to grow steadily due to the growing awareness regarding the harmful effects of PVC-packaging, especially in regions such as the Asia Pacific, the Middle East, and Europe are estimated to boost the market statistics in the coming years. Additionally, the trend of using sustainable and easily recyclable products without harm to the environment is benefitting the market growth globally.
Recent Developments
- In May 2023, ACTEGA, a global manufacturer of specialty coatings, inks, adhesives, sealants, and packaging materials, announced its plans to open a new 238,000 sq. ft. facility in Kings Mountain, North Carolina. These new manufacturing facilities are expected to improve the company's existing production capacity for various materials as well as drive the production of PVC-free packaging materials in the North America region.
- In January 2023, Amcor, Plc. announced the launch of its new PrimeSeal and DairySeal Recycle-Ready Thermoforming Films for meat and dairy made from polyethylene. The new thermoformable films are transparent with a clear gloss to help demonstrate the quality of products to shoppers by creating tight, wrinkle-free packaging
Browse Full Report & TOC @ https://www.consegicbusinessintelligence.com/pvc-free-packaging-market
Key Market Takeaways
- Asia Pacific accounted for the highest market share at 35.50% valued at USD 1,344.40 million in 2022 and will reach USD 1,404.99 million in 2023 and is expected to reach USD 2,074.78 million in 2031. Moreover, in Asia Pacific, China accounted for the highest market share of 23.05% during the base year of 2022.
- Based on packaging type, the rigid packaging segment accounted for the highest share contribution to the PVC-free packaging market statistics in 2022.
- In the material type, the PVC-free closures segment is expected to contribute significant shares to the growth of PVC-Free Packaging market statistics during the forecast period.
- In the end-user industry, the food & beverages segment is expected to contribute significant shares to the growth of PVC-free packaging market statistics during the forecast period.
- North America is expected to boost the market demand for PVC-free packaging due to the growing awareness regarding the use of PVC-free packaging across the region.
List of Major Global PVC-Free Packaging Market:
- Amcor Limited
- Sacmi Group
- Tekni-Plex, Inc.
- Constantia Flexibles Group GmbH
- Selig Group
- Technovinyl Polymers India Ltd.
- World Bottling Cap, LLC.
- Danburry Plastics
- ACTEGA
- Borealis AG
- Weener Plastics
- Crown Holdings, Inc.
Global PVC-Free Packaging Market Segmentation:
- By Packaging Type
- Rigid Packaging
- Flexible Packaging
- By Reinforcing Type
- PVC-Free Blisters
- PVC-Free Closures
- PVC-Free Liners
- Others
- By End User
- Food & Beverages
- Homecare
- Pharmaceuticals
- Personal Care & Cosmetics
- Chemicals and Fertilizers
- Others
Request for Customization @ https://www.consegicbusinessintelligence.com/request-customization/1294
Frequently Asked Questions in the PVC-Free Packaging Market Report
- What is the market size of the PVC-free packaging industry in 2023?
- In 2023, the market size of PVC-free packaging was USD 3,952.15 million.
- What will be the potential market valuation for the PVC-free packaging industry by 2031?
- In 2031, the market size of PVC-free packaging will be expected to reach USD 5,818.22 million.
- What are the key factors restraining the growth of the PVC-free packaging market?
- Lower adoption of PVC-free packaging owing to the cost issue is restraining the market growth at the global level.
- What is the dominating segment in the PVC-free packaging market by material type?
- In 2022, the PVC-free closures segment accounted for the highest market share in the overall PVC-free packaging market.
- Based on current market trends and future predictions, which geographical region is growing at the fastest CAGR over the forecast period in the PVC-free packaging market?
- North America region accounted for the highest CAGR in the overall PVC-free packaging market.
Our Other Research Reports here:-
Compressed Natural Gas (CNG) Market Size, Share, Growth, Trends | Analysis Forecast 2023 - 2030
Biaxially Oriented Polyamide Films Market Size, Share, Growth, Trends | Analysis Forecast 2023 - 2030
Carbomer Market Size, Share, Growth, Trends | Analysis Forecast 2023 - 2030
Foaming Creamer Market Size, Share, Growth, Trends | Analysis Forecast 2023 - 2030
Polarized Sunglasses Market Size, Share, Growth, Trends | Analysis Forecast 2023 - 2030
About Consegic Business Intelligence Pvt Ltd.
Consegic Business Intelligence Pvt Ltd. is the leading research industry that offers contextual and data-centric research services to its customers across the globe. The firm assists its clients to strategize business policies and accomplish sustainable growth in their respective market domains. The industry provides consulting services, syndicated research reports, and customized research reports.
Topnotch research organizations and institutions to comprehend the regional and global commercial status use the data produced by Consegic Business Intelligence Pvt Ltd. Our reports comprise in-depth analytical and statistical analysis on various industries in foremost countries around the globe.
Press Releases:- https://www.consegicbusinessintelligence.com/press-release/pvc-free-packaging-market
Contact:
Consegic Business intelligence Pvt Ltd.
Contact no.: (US) (505) 715-4344
Email: sales@consegicbusinessintelligence.com
