Gone are the days of careless disregard for trash and leftover packaging materials. Sustainable packaging is in—and taking hold of the market in many ways. Sustainable packaging is now a $27 billion market and growing at nearly 4% annually across three distinct segments: reusables, recyclables and degradables. Green is good, and with the fundamental shift in social mores and consumer expectations, sectors across the economy have been undergoing transformations including energy, agriculture, transportation, housing and packaging.
There are several drivers that are affecting these transformations including the regulatory landscape, the all-natural revolution, product innovation and channel pressures. In this Executive Insights, L.E.K. Consulting examines the sustainable packaging market, its three segments and the drivers of these packaging trends to find out who will be the winner in sustainable packaging. For consumers, sustainability is no longer simply a lifestyle option; it’s an important choice they feel they can make to protect the environment for the sake of future generations.