Green Packaging Market Size Was Valued at USD 310.19 Billion in 2023 and is Projected to Reach USD 483.27 Billion by 2032, Growing at a CAGR of 5.05% From 2024-2032.
Green packaging market refers to packaging materials and manufacturing processes that reduce energy consumption and minimize environmental impact. Green packaging uses recyclable and biodegradable materials and is therefore called energy-efficient or sustainable packaging.
Moreover, biodegradable plastics, bio-based plastics, solid detergent sulfates, recycled papers are some of the important raw materials for green packaging Factors such as the reading knowledge greater concern for environmental protection among consumers are the major factors driving the growth of global green packaging industry.
Furthermore, the initiatives taken by regulatory bodies in advocating the adoption of environmentally friendly innovators, will boost the global green packaging market significantly in time in the forecast.
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Green Packaging Market Top Key Players:
Amcor Limited (Australia), Tetra Pak International S.A. (Switzerland), Sealed Air Corporation (USA), Ball Corporation USA, Mondi plc (Austria), Smurfit Kappa Group (Ireland), DS Smith Plc (UK), Huhtamäki Oyj (Finland), Berry Global, Inc. (USA), Uflex Ltd. (India), Ardagh Group S.A. (Luxembourg), WestRock Company (USA). Ecolean AB (Sweden), Elopak AS (Norway), Gerresheimer AG (Germany), Reynolds Group Holdings (New Zealand), Klöckner Pentaplast Group (Germany), Winpak Ltd. (Canada), Sonoco Products Company (USA), Evergreen Packaging Inc. (USA), Coveris Holdings S.A. (Luxembourg), Crown Holdings, Inc. (USA), SIG Combibloc Group AG (Switzerland), Printpack Inc. (USA), AptarGroup, Inc. (USA), And Other Major Players.
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Market Trend Analysis:
The proliferation of sustainable food packaging:
There are several reasons for the ever-growing eco-friendly food packaging - First of all, consumers are turning more and more to environmental awareness; therefore, the products they want will be even greener. Because of this, the need for a sustainable food packaging also raised. The second factor is the introduction of laws and regulations to reduce non-biodegradable, recyclable materials used in packaging; thereby leading manufacturers are advisable into manufacturing green food packaging.
Stricter government regulation and increased awareness:
The demanding regulations set by the government, and a growing number of environment-conscious consumers can lead to lucrative opportunities in the green packaging market. All across the globe, governments are issuing mandates directed at curbing non-biodegradable packaging materials and instead promoting waste recycling by enforcing manufacturers to incorporate new age sustainable packaging practices that would stand in compliance with these fresh regulations. For instance, the European Union has declared by 2030 all plastic packaging should be recyclable or reusable. 2030 is a standard for many countries and cities in the US. will soon ban single-use plastic bags, wants government agencies to follow suit.
Market segments:
By Packaging Type:
· Recycled
· Reusable
· Degradable
By Application:
· Food & Beverage
· Health Care
· Personal Care
By Region:
· North America (U.S., Canada, Mexico)
· Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
· Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
· Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New-Zealand, Rest of APAC)
· Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
· South America (Brazil, Argentina, Rest of SA).
Regional Insights:
The Asia-Pacific region continues to lead and holds the largest share in the global green packaging market. There are many reasons why this happens. Asia Pacific has some of the global powerhouses with respect to size and growth rate, e.g., China and India—and a substantial portion that are gaining purchasing power per person—wind up wanting green packaging as more consumers evolve into concerned citizens.
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Brenda Gray 9 w
awesome article!