Green Packaging Market Overview:
Green packaging is also known as sustainable packaging that uses materials and manufacturing methods for the packaging of goods that has a low impact on both energy consumption and on the environment. Following the government regulations, most of the manufacturers use sustainable packaging to eliminate the contaminants and chemicals that destroy the water, soil, and atmosphere of our planet.
Green Packaging Market Size Growth Rate:
Green Packaging market is expected to reach USD XX.X million in 2023 from USD XX.X million in 2017, witnessing a CAGR of 5.7% during the forecast period 2018 – 2023. The packaging industry continues to make notable progress in environment-friendly innovations that meet consumer demand for a more sustainable community. There is a noticeable rise in awareness about high-performance packaging can increase the shelf life of a product and the need for sustainable end-of-life options for plastics waste.
Green Packaging Market Growth Drivers and Restraints:
Increasing public awareness about environmental concerns has resulted in higher demand for sustainable packaging and processing operations. Sustainability initiatives have advanced considerably, leading manufacturers to reduce the source material through down gauging, creating thinner and lighter packaging, while reducing waste.
Issues pertaining to sustainability, environment, ethics, and safety, quality and product costs are becoming increasingly important for modern-day consumers when purchasing products. A number of these issues are also enforced by packaging legislative regulations, which is expected to have a positive impact on the green packaging market, globally.
Geographic Condition of the Green Packaging Market:
North America is currently the largest market for green packaging, globally. Unlike many regions in the world, where government regulations play a crucial part in the growth of green packaging, high awareness and consumer preferences for eco-friendly solutions are the prime reasons for rapid adoption. However, Asia-Pacific is estimated to be the major region along with the highest growth owing to immense demand for packaging from almost all end users dedicated to vast retail market and consumer preferences. Manufacturers increasingly prefer aluminum foil packaging alternatives, especially in North America and Europe, where sustainable packaging is one of the top preferences to pick a product.
Competitive Landscape of the Green Packaging Market:
The green packaging market is highly competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. However, with innovative and sustainable packaging, many of the companies are increasing their market presence by securing new contracts and by tapping new markets. For instance, in May 2018, Amcor announced the launch of two sustainable packaging innovations that boost efficiency and improve consumer convenience. While Polylnert laminates deliver a huge saving in material use and energy consumption, AluFix Retort Extra’s easy-to-peel can-end has a low environmental impact
Some of the promising companies leading the Green Packaging Market:
- Amcor Limited
- Mondi Group
- Sealed Air Corporation
- TetraPak International SA
- Winpak Limited
- Bemis Company Inc.
- BASF SE
- Huhtamaki Oyj
- Ball Corporation
- Printpack Inc.
- Crown Holdings Incorporated
- Sonoco Products Company
- WestRock Company
This research report includes following segmentation for the Green Packaging Market size and forecast until 2023:
Green Packaging Market – By Range:
- Recycled Content Packaging
- Reusable Packaging
- Plastic Containers
- Intermediate Bulk Containers
- Degradable Packaging
Green Packaging Market – By Aircraft Type:
- Light Jets
- Mid-sized Jets
- Large Jets
Green Packaging Market – By Geographical Segmentation:
- North America
- United Kingdom
- South Korea
- Latin America
- Middle-East & Africa
Food Industry is expected to hold the Major Share:
- The food industry is expected to hold major share was owing to the increasing recyclable packaging and minimal waste generation practices in the industry.
- Plastic bottles, aluminum cans, and reusable containers are the most preferred sustainable packaging solutions in the industry.
- Although most of the food packaging in the current market scenario packed in plastics, only a small portion of it is recyclable or reusable.
- The use of metal alternatives and refillable containers is increasing the use of aluminum cans and minimal packaging items, such as tubs and trays made from aluminum foil.
- This trend is mainly evident in the global dairy packaging industry.
- According to European Aluminium AV, more than 22% of the aluminum produced in the region is used for packaging proposes.
- Also, with increasing awareness of green packaging, globally, the use of aluminum and recyclable/reusable food packaging is expected to increase, over the forecast period.
Scope of the Study
Introduction to Market Drivers and Restraints
Emergence of Substitutes such as Bioplastics
Increasing Awareness About Environmental Concerns Among Consumer Industries
High Costs Involved with Recycling
Industry Attractiveness – Porter’s Five Force Analysis
Threat of New Entrants
Bargaining Power of Suppliers
Bargaining Power Of Consumers
Threat Of Substitute Products
Intensity of Competitive Rivalry
By Type of Packaging
Recycled Content Packaging
Intermediate Bulk Containers
FUTURE OF THE MARKET