Green Packaging Market

Posted April 9, 2019 by kpriya

Green packaging is referred to the usage of packaging materials and implementation of manufacturing methods that have low impact on energy consumption and environment.

Green Packaging Market was valued US $152.34 Bn in 2017 and is estimated to reach US $240.40 Bn by 2026 at a CAGR of about 5.7%.

Green packaging is referred to the usage of packaging materials and implementation of manufacturing methods that have low impact on energy consumption and environment. Edible packaging materials made from natural ingredients is expected to gain popularity in the upcoming years. Rise in consumer awareness about eco-friendly products is anticipated to be a key factor driving market growth. Stringent government regulations and legislation, forcing manufacturers to choose green packaging options over the conventional packaging are the major drivers for the growth of the green packaging market.

Rise in government campaigns for educating consumers about the benefits of eco-friendly products and harmful effects of toxic packaging materials is anticipated to benefit industry growth over the forecast period. The high cost of production and fluctuating raw material prices may hinder the growth of the green packaging market. Furthermore, factors such as poor recycling facilities and the harsh recycling acts are undermining the potentials of the market.

Green packaging market

Green packaging market is segmented into application, packaging type, and region. Based on application, the food and beverage sector dominated the industry and hold around 60% of the global market. This may be because of high demand from food and beverage industries for packaging of products and growing several restaurants and diners. Also, healthcare sector is likely to observe stable growth over the forecast period.
On the basis of packaging type, the recycled content packaging segment witnessed tremendous growth over the past few years owing to rise in demand from the food and beverages sector. The reusable type is made up of durable materials and is particularly designed for reuse and an extended life. Increase in demand for bioplastics, owing to government regulations, is anticipated to favor industry growth over the forecast period.

In terms of region, Asia Pacific dominated the market in 2017 and is expected to show the same trend over the foreseeable future. Growing awareness among the middle-class population and increase in demand for sustainable practices are expected to favor regional growth. Currently, North America is dominating the market of green packaging. Europe is the second largest region with significant market share as promising governing inclinations.

Key Players Profiled and Analised in the Report
Amcor Limited, Ardagh Group Co., E. I. DuPont de Nemours and Company, Mondi Limited, Sealed Air Corporation, TetraPak International S.A., PlastiPak Holdings, Inc., Bemis Company, Inc., Uflex limited, and ELOPAK AS.
Market Scope of Green Packaging Market

Green Packaging Market by Application

• Food and Beverage
• Personal Care
• Health Care
• Others

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Tags global construction chemicals market , global nano chemicals market , global surfactants market
Last Updated April 9, 2019