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.
Along with environmentally-friendly materials comes the process that these come from: green packaging. Eco-friendly or sustainable packaging (also known as energy-efficient) material made from recyclable and biodegradable substances. In addition, the sustainable packaging materials are primarily made up of recycled paper, natural based plastics and biodegradable plastics, formaldehyde, strong sulfates preservatives. The Global Green Packaging Market is driven by growth factors such as consumer preference for green packaging due to its advantages over conventional plastic material and legal interventions on chemicals, and environmental concerns. Moreover, laws that incentivize businesses to opt for green alternatives will spur the growth of the global green movement.
Green Packaging Market 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:
Increasing Use of Eco-Friendly Food Packaging:
With the rise in demand for eco-friendly food packaging, green packaging is expected to garner significant consumer attraction. Green packaging is the practice of using eco-friendly materials and procedures in packaging. Part of the environmentally friendly packaging sub-segment, sustainable food packaging is designed to reduce any negative impacts that could harm our environment by not using completely new resources in taking care for and disposing of what remains.
Tight Government Rules and Enhanced Knowledge:
Stringent government requirements, coupled with increasing consumer awareness, offer ample possibilities for the green packaging market. Governments around the world are introducing regulations to limit the use of non-biodegradable packaging materials such as single-use plastic and forcing manufacturers to adopt packaging techniques sustainability and compliance with new regulations.
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 green packaging market, meanwhile, is projected by Mordor Intelligence to grow with a mid-single-digit CAGR over the forecast period; Asia Pacific will remain the largest consumer and producer of sustainable plastic products. This trend has several factors which influence it. Asia Pacific region has the world's largest and fastest-growing populations, with many having more disposable income due to their increasing wealth. In response, demand for green packaging is also growing as consumers become more environmentally aware. Similarly, there is a growing pressure upon the governments in the region to curb pollution and work towards sustainable development. A number of Asia Pacific countries have introduced legislation in these areas to support green initiatives, such as through the use of biodegradable packaging materials.
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