Global GreenPackaging Market report offers the latest industry trends, technological alteration and forecast data. A deep-dive view of Green Packaging industry based on its size, growth, development plans, and opportunities is offered by this report. The forecast information, SWOT analysis, Green Packaging barriers, and feasibility study are the vital aspects evaluated in this report.
Global Green Packaging Market is expected to reach USD
237.8 billion by 2024. Green Packaging is also termed as sustainable packaging
or energy efficient packaging. It has low impact on environment and energy
consumption. The packaging involves the usage of biodegradable and recyclable
material. There are various materials available in the market for the production
of green packaging products like recycled papers, biodegradable plastics, solid
bleach sulfate, and bio-based plastics. The Green Packaging Market is estimated
to grow at a significant CAGR of 5.7% over the future period as the scope and
its applications are rising enormously across the globe.
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Strict government policy regarding sustainability, rising
use of edible packaging material, increasing packaging companies, and rising
consumer awareness regarding advantages of eco-friendly materials are documented
as major factors of Green Packaging Market that are estimated to enhance the
growth in the years to come. However, high cost of production and varying raw
material cost may restrain overall market growth in the coming years. Green
Packaging Industry is segmented based on type, application, and region.
Degradable packaging, recycled content packaging, and
reusable packaging are the types that could be explored in Green Packaging in
the forecast period. Reusable packaging includes plastic container, drum, and
others. On the other hand, recycled content packaging includes glass, paper,
metal, plastic, and others. The recycled content packaging sector accounted for
the largest market share over 57.5% and is estimated to lead the overall market
in the coming years. This may be because of high demand in food and beverage
sector. Also, recycle packaging may extend the life of products and is made of
strong materials. It can be reused and extends the shelf life of products.
The market may be categorized based on applications like
healthcare, food & beverages, personal care, and others that could be
explored in Green Packaging in the coming years. Food & beverage segment
accounted for the largest market share over 58.6% of Green Packaging and is
estimated to continue its dominance in the coming years. This may be because of
high demand from food and beverage industries for packaging of products and
growing numerous restaurants and diners. Also, healthcare segment is estimated to
grow at significant CAGR in the coming years.
The key players of Green Packaging Market are Be Green
Packaging, Amcor Limited, Evergreen Packaging, BASF SE, Rexam, DuPont, Sealed
Air, DS Smith, Tetra Laval, and Mondi. These players are concentrating on
inorganic growth to sustain themselves amongst fierce competition. As such,
mergers, acquisitions, and joint ventures are the need of the hour.
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