Global Green Packaging Market is expected to grow over the CAGR of around 5.42 % Through 2023.
Green Packaging market
Green packaging, is also known as sustainable packaging. By using sustainable packaging, manufacturers and consumers can eliminate contaminants that pollute the atmosphere, soil and water. Green packaging is the use of manufacturing methods and materials for packaging that have low impact on the environment and energy consumption. The growing consumer preference for environmental friendly and sustainable products is expected to drive the global green packaging market. The major opportunity for the global green packaging market lies in the reduction of the operational costs involved in recycling and collecting the packaging. Moreover, .factors such as growing environment concerns and the increasing need for reducing the use of toxic materials are some of the factors for the growth of the market The increase in product categories for various application segments, especially the consumer packaging segment, is one of the major opportunities for the global green packaging market
Accrediting the outstanding growth prospect the market is demonstrating currently, Market Research Future (MRFR) recently published a brilliant study report giving out the complete market prognosis up till 2023. In its analysis MRFR states that, the global Green Packaging Market is forecasted to grow exponentially by 2023, registering 5.42 % CAGR during the review period (2017 – 2023).
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We recognize the key players in the global green packaging market as –
- Amcor Limited (Australia)
- Bemis Company Inc. (U.S.)
- Tetra Laval International S.A. (Switzerland)
- Mondi Plc (South Africa)
- West Rock Company (U.S.)
- BASF SE (Germany)
- Sonoco Products Company (U.S.)
- Smurfit Kappa Group PLC (U.S.)
- Sealed Air Corporation (U.S.)
- Huhtamaki OYJ (Finland)
Worldwide Green Packaging Market – Competitive Analysis
The market of Green Packaging is competitive and fragmented owing to the presence of several big & small market players forming a competitive landscape. Key players are adopting the strategic trend of business expansion in the emerging markets.
Key market players are keen on taking care of ecological norms. In order to manufacture cardboard boxes without affecting the containers’ strength or durability; they reinforce corrugation inside the panels. This resultantly reduces both cost and wastage.
In order to survive and create new markets; manufacturers rely on innovation. Therefore, they keep themselves abreast of the new technological developments and latest consumer trends by developing human capital. They don’t hesitate to continually invest their time & money in to the new age developers for the latest technologies which can increase productivity and add value
Industry/ Innovation /Related News:
26 December 2017: International packaging and paper firm Mondi Group has agreed to acquire 100% stake in Powerflute Group Holdings Oy.
In 13 December 2017: WestRock has signed agreements to acquire all of the assets of Plymouth Packaging
In 2017, BASF offered sustainable solutions for the packaging industry at Interpack 2017.
March 28, 2018 – Government of China announced that the country is all set to adopt Green packaging standards by September this year. The country has taken this decision to help tackle the extensive pollution erected due the disposal of conventional encasements.
March 03, 2018 – Lidl & Aldi (UK) – the individual groups of discount supermarket chains under one common brand – announced their green packaging plans by 2022. While Aldi is pledged to 100% reduction in waste for its own-label packaging making it recyclable & reusable by 2022, while the retailer – Lidl committed to reduce 50% of waste in all product packaging by 2025.
The market has been analyzed based on the three segments, namely packaging type, application and end-use in the regions of North America, Europe, APAC and Rest of the World. On the basis of packaging type, the segments are recycled content packaging and degradable packaging. recycled packaging segment is rising as recycling not only saves energy but also decreases emissions. Moreover, growing environmental concern helps in the growth of the green packaging market. On the basis of application, it includes food & beverage, health care, personal care and others. The food and beverage is the largest application segment and is expected to continue dominating the market during the forecast period.
On the basis of application, it includes food & beverage, health care, personal care and other. Green packaging technology uses materials such as paper, plastic, metal, and glass, which can be recycled, easily bent or molded as per needed. Eco-efficient and green-friendly practices will satisfy consumer demand and will contribute to a significant competitive advantage. The demand for eco-friendly and sustainable packaging materials in food & beverages industries is contributing to the growth of Green packaging market.
Market Research Analysis:
The North America region is dominating the market of green packaging. The growing awareness and demand for sustainable practices among the middle-class population, is expected to favor the growth in the region.
Asia-Pacific region is expected to grow at a fast pace in the forecast period. Health consciousness of consumers and thus the preference of sustainable packaging, are driving the market of green packaging. Moreover, rapid lifestyle changes and economic growth, coupled with demand for eco-friendly products in Asia Pacific countries such as China and India has spiked the growth rate of green packaging in the region.
Scope of the report
This study provides an overview of the global green packaging industry, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific, and Rest of the World. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global green packaging market as packaging type and application. On the basis of packaging type it is segmented as recycled content packaging and degradable packaging. On the basis of application it is segmented as food & beverage, health care, personal care and other.
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Brief TOC :
- Executive Summary
- Research Methodology
- Market Dynamics
- Global Green Packaging Market, By Packaging Type
- Global Green Packaging Market, By Application
- Regional Market Analysis
- Competitive Analysis
- List of Tables
- List of Figures
About Market Research Future:
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