Global Green Packaging Market

The global green packaging market size is expected to register a robust CAGR during the forecast period, between 2021 and 2028. Green packaging, also known as sustainable packaging, lessens the adverse environmental impact of packaging by minimizing the consumption of energy. Green packing solutions, as opposed to products like Styrofoam and plastic, use recyclable and biodegradable materials. It manufactures a variety of products using biodegradable and plant-based plastics, as well as recycled molded packaging and used polyethylene bags.

Green packaging also lowers power consumption and the number of greenhouse gases emitted. Green packaging has a reduced carbon footprint than traditional synthetic packaging, which benefits both environmental and human sustainability in the coming years. Green packaging necessitates solutions for reducing pollution and waste generated during the production process.

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Market Trends, Drivers, Restraints, and Opportunities

• Introduction of bio plastics, environmental concerns about sustainable development, and regulatory bodies enforcing tough policies and laws are expected to drive the market.
• Rising customer demand for more durable and ecologically friendly wrapping materials boosts the market.
• The reduction of the greenhouse effect as a result of less reliance on fossil fuels to generate biodegradable products propels the market.
• The company's trend toward materials with excellent resistance to heat, moisture, and friction that can be easily recycled is likely to fuel the market.
• Volume of solid trash generated is insufficient to match the recycling capacity, limiting the market growth.
• Fluctuating raw material prices and environmental issues hampering the demand for green packaging solutions.
• New product releases and emerging packaging technologies present perfect opportunities for the growing market.

Scope of Green Packaging Market Report

The report on the green packaging market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.

Green Packaging Market Segment Insights

Based on packaging types, the green packaging market can be segregated into degradable packaging, recycled content packaging, and reusable packaging. The recycled content packaging can be further classified into glass, materials, metal, paper, and plastic. Furthermore, the reusable packaging can be categorized into intermediate bulk containers, reusable drum packaging, plastic container packaging, and other reusable packaging materials. The recycled content packaging segment is projected to hold significant market share.

Increased processing and collecting capability, combined with increased usage of recycled content wrapping by companies seeking to demonstrate environmental sustainability and differentiate their products, would boost recycled content wrapping. Efforts by packaging firms, industry groups, brand owners, and others to promote sustainability programs aimed at increasing recycling rates of different types of materials will benefit the segment's growth.

On the basis of applications, the market can be fragmented into health care, food & beverage, pharmaceutical, personal care, shipping, and others. The food & beverage segment is anticipated to account for a substantial share, due to its portability, long life cycle, and ease of manufacture, convenience food is driving the demand for food and beverage packaging. Frozen foods, finger foods, snacks, beverages, and other goods are examples of convenience foods. Food products are typically supplied in hot, ready-to-go containers and need less preparation time.

Consumers' hurried lifestyles, along with senior population, have resulted in a significant consumption of convenience food. With the growing popularity of green packaging, many restaurants, packaged food firms, fast food chains, and casual dining establishments are implementing biodegradable packaging and molded pulp packaging, which is expected to fuel the food and beverages segment.

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In terms of regions, the green packaging market can be categorized as Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific is expected to dominate the market, owing to the high population density, there is an increasing consumption of convenience foods and beverages. Furthermore, the growing emphasis on sustainable packaging solutions by green packaging makers in India, China, South Korea, and Japan as a result of rising consumer environmental awareness is expected to enhance the market. South-East Asia has an abundance of raw materials for the production of cartons, boxes, bags, and other packaging equipment. This is also predicted to have a positive impact on the market.

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Segments

Packaging Types

• Degradable Packaging
• Recycled Content Packaging
  • Glass
  • Materials
  • Metal
  • Paper
  • Plastic
• Reusable Packaging
  • Intermediate Bulk Containers
  • Reusable Drum Packaging
  • Plastic Container Packaging
  • Other Reusable Packaging Materials

Applications

• Health Care
• Food & Beverage
• Pharmaceutical
• Personal Care
• Shipping
• Others

Regions

• Asia Pacific
• North America
• Latin America
• Europe
• Middle East & Africa

Key Players

• Amcor Limited
• PlastiPak Holdings, Inc.
• Ardagh Group Co.
• Sealed Air Corporation
• Catalyst Paper
• TetraPak International S.A.
• Uflex limited
• Ball Corporation
• Cascades Inc.
• ELOPAK AS

Competitive Landscape

Key players in the green packaging include Amcor Limited; PlastiPak Holdings, Inc.; Ardagh Group Co.; Sealed Air Corporation; Catalyst Paper; TetraPak International S.A.; Uflex limited; Ball Corporation; Cascades Inc.; and ELOPAK AS. These players have actively engaged in several market development activities including collaborations, agreements, mergers & acquisitions, production capacity expansion, new product launches, and partnerships to increase their market share.