Green Packaging Market Size And Forecast
The Global Green Packaging Market report provides a holistic evaluation of the market for the forecast period. The report comprises various segments as well as an analysis of the trends and factors that are playing a substantial role in the market. These factors; the market dynamics involve the drivers, restraints, opportunities, and challenges through which the impact of these factors in the market is outlined. The drivers and restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market. The Global Green Packaging Market study provides an outlook on the development of the market in terms of revenue throughout the prognosis period.
According to Verified Market Research, The Global Green Packaging Market was valued at USD 149.95 Billion in 2018 and is projected to reach USD 226.44 Billion by 2026, growing at a CAGR of 5.3% from 2019 to 2026.
What is Green Packaging?
The packaging is a process of enclosing the product to protect it from damage, contamination, spoilage & insect attack during transportation, storage and retail sales. Green packaging, also known eco-friendly packaging refers to packaging designs that use recyclable & biodegradable materials for product packaging, so that the packaging has a low environmental impact and the process consumes minimal energy. The green packaging method use a variety of flexible materials, including plant based plastics, degradable plastic, paper or glass to create pouches, bags, bottles, cans, cartons and trays. It is a modern and creative way to increase the shelf-life and improve the product durability without impacting on the environment.
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Global Green Packaging Market Outlook
In the report, the market outlook section mainly encompasses fundamental dynamics of the market which include drivers, restraints, opportunities and challenges faced by the industry. Drivers and Restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market.
Increasing adoption of green packaging across various industries including FMCG, consumer good, personal body care, automotive and pharmaceutical is a key growth driver for the green packaging market. In addition, the upsurge in demand for ready to cook & ready to eat food due to the busy lifestyle and growth in adoption of hygienic packaged food has triggered the growth of green packaging market. Furthermore, growing environmental consciousness among the consumers, stringent regulation implemented by most of the nation on the usage of plastics, and raising awareness about the adverse effect of non-degradable plastic on the health of the environment are the factors that are expected to support the market growth. For instance, the implementation of the Horizon 2020 strategy by the European Commission has contributed to increased development of new bio-based products. However, the expensive raw material is a leading reason that is restraining the market growth.
Verified Market Research narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements which interests the client. The “Global Green Packaging Market” is mainly bifurcated into sub-segments which can provide a classified data regarding latest trends in the market.
Global Green Packaging Market Competitive Landscape
The “Global Green Packaging Market” study report will provide a valuable insight with an emphasis on global market including some of the major players such as Amcor Plc, Mondi, Sealed Air, TetraPak International, Ardagh Group, PlastiPak Holdings Inc., Bemis Company, Inc., Uflex limited, Elopak, and Ball Corporation. Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above-mentioned players globally.
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Green Packaging Market, By Type
• Recycled Content Packaging
• Reusable Packaging
• Degradable Packaging
Green Packaging Market, By Application
• Food and Beverage
• Personal Care
Green Packaging Market Geographic Scope
• North America
o Rest of Europe
• Asia Pacific
o Rest of Asia Pacific
• Rest of the World
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