Green packaging also refers to sustainable packaging which uses materials that are less harmful to environment and consume low energy. According to the report the global green packaging market is projected to grow with a CAGR between 5.0% and 5.5% from 2017 to 2023. In the year 2015, the global green packaging market was worth USD 131.55 billion.
Figure 1: Global Green Packaging Market by Value 2015 - 2023
The report identified that the green packaging market is driven by factors such as, rising demand for green packaging products from the various end use industries, increasing awareness among the general population about environmental friendly packaging, and technological advancements in bio plastics. On the other hand, the restraining factors identified in the study include high production and set up cost for green packaging industries, inefficiency of recycling industries to process solid waste, coupled with lack of government initiatives for recycling and adopting green packaging in developing countries. Rising demand for green packaging products in the Asia Pacific and South American countries provide opportunity for major players in the emerging and developing economies.
The report segments the green packaging market on the basis of packaging type, application and region. The market size of each segment has been provided in terms of value (USD). The market segments, by application include food & beverages, personal care, health care and others. The market segments by packaging type include recycled content packaging, reusable packaging and degradable packaging.
Geographic Coverage and Analysis:
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section the key trends and market size for each geography is provided over the period of 2017 – 2023.
Figure 2: Global Green Packaging Market by Region
North America is the key consumer of the green packaging products in the global market. In 2016, this region accounted for nearly 28% share in the global market. Europe accounted for the second largest market over the period of 2015 and 2016. High demand from countries such as Japan, India and South Korea enhance the growth of the Asia-pacific green packaging market. As a result the Asia Pacific region is projected to grow at the highest CAGR over the forecast period.
The companies covered in the report include Amcor Limited, E. I. DuPont de Nemours and Company, Mondi Limited, Sealed Air Corporation, TetraPak International S.A., Ardagh Group Co., PlastiPak Holdings, Inc., Bemis Company, Inc., Uflex limited, and ELOPAK AS.
The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the demand of green packaging globally as well as regionally. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter’s five forces analysis and DRO analysis of the green packaging market.
Moreover, the study highlights current market trends and provides forecast from 2017 to 2023. We also have highlighted future trends in the green packaging market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market strategies of the leading players. This report will help manufacturers, suppliers and distributors of the green packaging market to understand the present and future trends in this market and formulate their strategies accordingly.
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