MarketsandMarkets has released 360 Quadrant for Top 21 Sustainable Packaging Companies, Worldwide 2023 to help businesses make quicker and more informed decisions. Companies' market presence and product footprint are used to build quadrants, which will be revised annually.
With the benefits of sustainable packaging growing in popularity, the market for sustainable packaging is anticipated to experience considerable expansion in the coming years. Asia-Pacific countries like China, Brazil, and India are among the nations that are emerging as growth frontiers for the market. The key forces behind the expansion of possibilities in these countries are their expanding economies, expanding populations, and the resulting disposable income of individuals.
The sustainable packaging industry is also witnessing rapid growth due to the stringent laws and regulations levied by governments and governing bodies, as well as a shift in consumer preferences towards recyclable and eco-friendly packaging materials. Additionally, other factors such as the downsizing of packaging and advancements in technology are also fostering the growth of the sustainable packaging market, globally. However, the high cost of recycling and the poor infrastructure available for recycling processes are likely to hamper the growth of this market.
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Unveiling the Market Leaders: Honoring Excellence in Sustainable Packaging Market
- WestRock, one of the leading providers of sustainable paper and packaging solutions was identified as the market leader in the 360 Quadrant, accounting for the largest share of the market. With a strong presence in the sustainable packaging market and a well-established distribution network. The company has a wide portfolio of packaging solutions which include corrugated solutions, consumer packaging solutions, machinery solutions, and paper solutions.
- Amcor has established a robust presence and earned a reputation for excellence over the years. It is one of the global leaders in developing and producing responsible packaging solutions for food, beverage, pharmaceutical, medical, home and personal care, and other products. It offers a range of flexible and rigid packaging, specialty cartons, closures, and services. The company is focused on making packaging that is increasingly lighter weight, recyclable and reusable, and made using an increasing amount of recycled content.
- Smurfit Kappa registered a strong position in the global sustainable packaging market. With a strong presence in Europe, the company has a good presence across other geographies as well. The company offers a portfolio of paper-based packaging solutions for eCommerce, retail, consumer, and industrial packaging applications for a wide array of sectors.
- Crown Holdings with its primary product as metal packaging is a well-known entity in the sustainable packaging industry. Through its subsidiaries, it has become one of the leading global suppliers of rigid packaging products to consumer marketing companies, as well as transit and protective packaging products, equipment, and services to a broad range of end markets.
- Mondi holds a significant and competitive presence in the sustainable packaging market. The company’s businesses include Corrugated packaging, flexible packaging, and Uncoated Fine Paper business. It offers eCommerce packaging solutions and products through a combination of its sustainability expertise and a full portfolio of multi-material solutions, including kraft and functional barrier paper, paper bags, and corrugated solutions across a multitude of industries.
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Categorization Of Sustainable Packaging Companies On 360 Quadrants
Sustainable packaging companies’ evaluation was conducted for over 80 companies, of which the top 21 were categorized and placed in a quadrant under Market Leaders, Contenders, Innovators, and Emerging Companies.
All the companies in the market leader segment demonstrated strong offerings and the ability to influence the market’s direction with their deep expertise. These companies include WestRock, Amcor, Smurfit Kappa, Crown Holdings, and Mondi. These companies dominate the market, together accounting for nearly one-third of the entire sustainable packaging market.
Tetra Laval, Stora Enso, Ardagh, DS Smith, and Ball Corporation have been recognized as contenders in the sustainable packaging quadrant. The contenders are companies with a strong market presence, excelling in specific niches. While not offering the full range of market leaders, they wield significant influence and impact. These companies focus on specific technologies and aim to establish leadership within their chosen segment.
In the quadrant, innovators are highly innovative companies with a strong product portfolio, but a smaller market presence compared to leaders. They push industry boundaries with forward-thinking approaches and have the potential to become major players despite lower corporate growth strategies. Sealed Air, Huhtamaki, Aptar Group, Constantia Flexibles, Sappi, and Klöckner Pentaplast have been identified as the innovators in the quadrant.
The 360 Quadrants effectively evaluates emerging companies in the sustainable packaging industry. They focus on specific areas and offer specialized knowledge, targeted support, flexible terms, and competitive prices. While they may have limited capabilities, they are preferred for specific use cases. These companies employ strategies to expand sales and reach a broader client base. This segment of the quadrant has identified Silgan, Pactiv, Plastipak, Cosmo First, and NatureWorks as emerging companies.
Evaluation Criteria
The vendor evaluation was conducted on over 80 companies of which the top 21 were categorized and recognized as the quadrant leaders. Factors such as revenue, geographic presence, growth strategies, investments, channels of demand, and sales strategies were considered the market presence of the sustainable packaging quadrant. While the top criteria for product footprint evaluation included Material (paper & paperboard, plastic, metal, glass), Process (recycled, reusable, degradable), function (active, molded pulp, alternate fiber), application (food & beverage, healthcare, personal care, others), sustainable initiatives, and incorporation of PCR content.
360 Quadrants Scoring Methodology
360 Quadrants employs a comprehensive and transparent scoring methodology to evaluate companies. It identifies relevant evaluation criteria, collects and validates data from multiple sources, and employs an algorithm that considers parameter weights to generate scores. Normalization ensures fair comparisons and the aggregated scores categorize solutions into quadrants such as Market Leaders, Contenders, Innovators, and Emerging Companies. This unbiased approach equips users with accurate information, empowering them to make well-informed decisions and select solutions that best suit their needs and objectives.
See Also:
Top Paint and Coatings Companies, Worldwide 2023
Top Lubricants Companies, Worldwide 2023
Top Personal Care Ingredients Companies, Worldwide 2023
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360 Quadrants will also be launching 100 quadrants in Chemicals and Materials, Packaging, Energy & Power, and Healthcare.
Visit https://www.360quadrants.com to access our interactive quadrants.
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Website: https://www.360quadrants.com/packaging-and-construction/sustainable-packaging-market
