Rise in awareness among consumers about green packaging techniques and surge in environmental concerns leading to sustainable packaging developments are the factors that drive the growth of the global green packaging market. However, high production and set up cost and lack of government initiatives especially in developing countries through subsidies for recycling hinder the market growth. On the other hand, stringent government regulations on non-degradable plastics along with increase in demand for recycled packaging products present new opportunities in the coming years.

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Leading Market Players
• Amcor Limited
• E. I. DuPont de Nemours and Company
• Mondi Limited, Sealed Air Corporation
• TetraPak International S.A.
• Ardagh Group Co.
• PlastiPak Holdings, Inc.
• Bemis Company, Inc.
• Uflex limited
• ELOPAK AS

Covid-19 Scenario
• During the outbreak of the COVID-19 pandemic, production hubs of green packaging were temporarily closed, which had a negative impact on the growth of the market.
• In addition, disruptions in the supply chain and lack of skilled workforce availability due to partial or complete lockdown hampered the market growth.
• However, the global green packaging market is expected to witness a V-shaped recovery post-pandemic.

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The food & beverages segment to maintain its leadership status throughout the forecast period
Based on application, the food & beverages segment held the highest market share in 2020, accounting for around three-fifths of the global green packaging market, and is estimated to maintain its leadership status throughout the forecast period. This is due to growth in consumer awareness about health and emergence of substitutes. However, the healthcare segment is projected to manifest the highest CAGR of 7.4% from 2021 to 2030. Medicines comprise complex chemical solutions that have the potential to react with the harmful chemicals in the packaging material and destroy the medicine composition. This factor is driving the healthcare green packaging segment.

The Recycled Content Packaging segment to maintain its lead position during the forecast period
Based on packaging type, the recycled content packaging segment accounted for the largest share in 2020, contributing to more than half of the global green packaging market, and is projected to maintain its lead position during the forecast period, owing to sustainable development. However, the degradable packaging segment is expected to portray the largest CAGR of 10.4% from 2021 to 2030, owing to wide scope of usage.