Individuals are suffering respiratory problems, cancer and allergies which are associated with pollution from manufacturing processes. Using 50% more resources than the earth can regenerate in one year leads to tremendous loss of intact eco-systems, biodiversity and liveable land. Industrial packaging highly contributes to this trend with disposable packaging material and globally connected supply chain networks. A looped packaging system can enable resource efficiency, decrease costs and waste and overcome human and environmental harm. Additionally, the supply chain can be made more efficient enabling Industry 4.0 with a smart container system. In this regard not only a circular, but also a mathematical model has been developed to evaluate industrial packaging materials in accordance with their environmental costs. The examined materials are first analysed in their life cycle using a cradle-to-gate approach. In a further evaluation, the developed circular model is transformed in a mathematical model comparing the materials with their associated total costs and benefits, including waste management policies, pollution and environmental costs.