Green Packaging Market

Green Packaging Market Size

[170+ Pages Research Report] to surpass USD 121.94 billion by 2031 from USD 52.43 billion in 2021 at a CAGR of 6.4% throughout the forecast period 2021-31

Green packaging, also known as sustainable packaging, pertains to the use of environmentally friendly materials and manufacturing methods in the packaging of goods. It manufactures a variety of products using biodegradable and plant-based plastics, as well as recycled moulded packaging and used polyethylene bags. Green packaging has a lower carbon footprint than traditional synthetic packaging, which helps to support human and environmental health in the long run. Green packaging also includes methods for reducing waste and emissions generated during the manufacturing process.

Market Highlights

Global Green Packaging market is expected to project a notable CAGR of 6.4% in 2031.

Global Green Packaging to surpass USD 404.12 billion by 2031 from USD 279.96 billion in 2021 at a CAGR of 6.4% in the coming years, i.e., 2021-31. Growing consumer awareness of sustainable packaging, as well as strict bans on the use of single-use plastics, is expected to drive industry growth. Because of the growing food and beverage industry, which is increasingly adopting packaging made from biodegradable and recyclable materials, the industry is expected to grow at a steady rate.

Figure - Market Analysis of Global Green Packaging Market

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Global Green Packaging: Segments

Recycled Content packaging segment to grow with the highest CAGR during 2021-31

Global Green Packaging market is classified on the basis of Type into Recycled Content Packaging, Reusable Packaging, Degradable Packaging and Others. Paper, plastic, glass, and metal are among the recyclable materials in this segment. These materials are reused as raw materials by manufacturers to create new packaging products, reducing excess pollution caused by packaging waste. The plastic-type in the recycled content segment held the largest share because it is widely used across a variety of applications and provides vital packaging properties that other materials, such as paper, do not. Plastics are also very cost-effective, which has made them a popular material choice, particularly in emerging economies where product cost is an important consideration.

Food & Beverages segment to grow with the highest CAGR during 2021-31

Based on application, global Green Packaging Market is fragmented into Food & Beverages, Personal Care, Healthcare and Others. With the growing popularity of green packaging, many restaurants, fast food chains, packaged food companies, and casual dining establishments are implementing moulded pulp packaging and compostable packaging, which is expected to drive the food and beverages segment.

Figure - Market Analysis of Global Green Packaging Market

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Market Dynamics

Drivers

Importance of environmental conservation and sustainable living

One of the market's primary drivers is a growing awareness of the importance of environmental conservation and sustainable living. This, combined with stringent governmental environmental regulations and the industrial trend of incorporating renewably sourced materials in the manufacturing process, is significantly catalysing market growth. Furthermore, various industries have begun to incorporate green packaging, for instance healthcare and food and beverage companies are looking for sustainable packaging products such as paper, glass, metal, and plastic that can be easily recycled.

Government initiatives and improvement in R&D

The Green Packaging Market is also growing as a result of increased consumer and industry awareness of environmental concerns. As the general public becomes more aware of environmental issues, there will be a greater demand for environmentally friendly packaging and processing activities. Furthermore, an increasing number of initiatives implemented by governments in both developed and developing countries to encourage the use of green packaging across various industries is expected to drive the market in the coming years. Other factors driving market growth include increased R&D activities and technological advancements in the manufacture of green packaging materials such as bio-based resins. As a result of sustainability efforts, manufacturers have reduced the source material by downgrading, creating thinner and lighter packaging, and eliminating waste.

Restraint

High cost associated with the market and overcapacity

Overcapacity may be the most significant constraint for this industry. Non-biodegradable plastic bags are still regarded as the best and most desired packaging material on a global scale due to their lower cost. As a result, packaging companies are unable to match sales volume with production capacity.

Global Green Packaging: Key Players

• Mondi

Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis

• Amcor
• Evergreen Packaging
• Nampak
• Ball Corp.
• Sealed Air
• Tetra Laval
• Be Green Packaging
• DS Smith
• Other Prominent Players

Global Green Packaging: Regions

Global Green Packaging market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. Europe has dominated the industry in recent years with a significant share due to strict laws enacted by the European Union and other European countries addressing the use of single-use plastics. European businesses have begun to follow the circular economy roadmap by embracing recyclable, recycled, and biodegradable materials. Asia Pacific has risen to second place in terms of value in recent years, thanks to an increase in government legislation and programs encouraging businesses to use green packaging.

Impact of Covid-19 on Green Packaging Market

The COVID-19 outbreak shifted the focus of the world away from sustainability and toward the virus and its consequences. Plastic waste has increased as a result of the pandemic. A large amount of public-use personal protective equipment is being discarded carelessly. The opposition to single-use plastic bans has increased demand for bottled water, plastic bags, disposable wipes, and hand sanitizers.

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Global Green Packaging is further segmented by region into:

• North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
• Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
• Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
• Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
• Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA

Global Green Packaging report also contains analysis on:

Green Packaging Segments:

• By Type 
  • Recycled Content Packaging
  • Reusable Packaging
  • Degradable Packaging 
  • Others 
• By Application 
  • Food & Beverages
  • Personal Care
  • Healthcare
  • Others
• Green Packaging Dynamics
• Green Packaging Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints

Green Packaging Market Report Scope and Segmentation

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