Green Packaging Market Industry Insights With Historical and Forecast Revenue, Country Level Analysis and Competitive Developments Through 2023

Market Highlights

The growth of the global green packaging market is expected to be driven by the growing population, improved standard of living, and the shift preference of more sustainable packaging materials. Consumers of luxury goods are favoring green packaging techniques that use bio plastics. The industry is projected to witness an upsurge in the demand of sustainable packaging in the food & beverage, personal care, and healthcare industries. Several multinational companies have banded together to form a community called “Together for Sustainability” to promote sustainable developments.

The global market for green packaging market is expected to grow over the CAGR of around 5.42 % during the period 2017 to 2023.

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Green packaging is used in all industry verticals, but predominantly it has found in the industries such as, food & beverages, FMCG, retail trade, Healthcare, and among others. This concept of packaging has brought a lot of opportunities for the entrepreneurs to explore various untapped dimensions in this field. Major factors propelling the growth of green packaging market include increasing awareness among consumers regarding environmental safety and the benefits of green packaging. Apart from this, the initiatives taken up by the regulatory bodies that supports the adoption of eco-friendly alternatives is another factor expected to drive the growth of the green packaging market during the forecast period.

Government legislation and stringent laws regarding sustainability, increasing consumer awareness towards usage of sustainable and eco-friendly packaging materials and a growing packaging industry are the major factors fueling the growth of the Sustainable Packaging Market. However, the high cost of recycling and fluctuation in raw material prices acts as a major hindrance to this market growth. The key industry trends include focus towards light-weighting, increasing recycling and waste recovery, increasing use of renewably sourced materials, increasing use of recycled content, and improvements in packaging and logistical efficiency. Sustainable packaging protects the product, extends its shelf life, ensures that the product is safe for the consumer to use and can drastically reduce waste throughout the supply chain. Green packaging is the eco-friendly type of packaging which uses recyclable material for packaging process. It also helps to reduce the environmental impact.

The demand for eco-friendly and sustainable packaging materials by consumers is on the rise, according to the study, and hence vendors are largely focusing on developing materials that can be recycled and have the traditional capabilities of resistance to friction, moisture, and heat. Global Green Packaging market is growing with the rapid pace; mainly due to advancement in technologies. The major drivers of growth for this market are growth in end-use industries, stringent environmental regulations, and growing awareness towards volatile organic compounds (VOC) emissions. According to a recent study report published by the Market Research Future, The global market of Green Packaging is booming and expected to gain prominence over the forecast period. The market is forecasted to demonstrate a stunning growth by 2023, surpassing its previous growth records in terms of value with a striking CAGR during the estimated period (2017 – 2023). 

Key Players:

The key players of global green packaging market include –

• Amcor Limited (Australia)
• Bemis Company Inc. (U.S.)
• Tetra Laval International S.A. (Switzerland)
• Mondi Plc (South Africa)
• WestRock Company (U.S.)
• BASF SE (Germany)
• Sonoco Products Company (U.S.)
• Smurfit Kappa Group PLC (U.S.)
• Sealed Air Corporation (U.S.)
• Huhtamaki OYJ (Finland)

Industry Overview:

26 December 2017: International packaging and paper firm Mondi Group has agreed to acquire 100% stake in Powerflute Group Holdings Oy.

In 13 December 2017: WestRock has signed agreements to acquire all of the assets of Plymouth Packaging

In 2017, BASF offered sustainable solutions for the packaging industry at Interpack 2017.

Market Research Analysis:

The North America region is dominating the market of green packaging. The growing awareness and demand for sustainable practices among the middle-class population, is expected to favor the growth in the region.

Asia-Pacific region is expected to grow at a fast pace in the forecast period. Health consciousness of consumers and thus the preference of sustainable packaging, are driving the market of green packaging. Moreover, rapid lifestyle changes and economic growth, coupled with demand for eco-friendly products in Asia Pacific countries such as China and India has spiked the growth rate of green packaging in the region.

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Scope of the report

This study provides an overview of the global green packaging industry, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific, and Rest of the World. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global green packaging market as packaging type and application. On the basis of packaging type it is segmented as recycled content packaging and degradable packaging. On the basis of application it is segmented as food & beverage, health care, personal care and other.

Segmentation of Global Green Packaging Market:

By Packaging Type

• Recycled Content Packaging
• Degradable Packaging

By Application

• Food And Beverage
• Healthcare
• Personal Care
• Others

The report for Global Green Packaging Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions. 

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