Global Green Packaging Market-Insights
Green packaging is referred to the use of packaging materials and implementation of manufacturing methods that have low impact on energy consumption and environment. Green packaging involves the usage of recyclable and biodegradable materials and thus referred as energy-efficient or sustainable packaging. Furthermore, bio-degradable plastics, bio-based plastics, solid bleach sulfate, and recycled papers are some of the key materials used for the manufacture of green packaging products.
Major factors propelling the growth of green packaging market include increasing awareness among consumers regarding environmental safety and the benefits of green packaging. Apart from this, the initiatives taken up by the regulatory bodies that supports the adoption of eco-friendly alternatives is another factor expected to drive the growth of the green packaging market during the forecast period.
In terms of revenue, Asia Pacific is expected to be the fastest growing market for green packaging, witnessing a significant CAGR of 8.85% during the forecast period. This growth is mainly driven by the presence of several manufacturers operating in the food and beverage industry in this region. Further, high population growth and increasing disposable incomes in the emerging economies such as China and India, are some of the factors driving the food and beverage industry, which in turn is fuelling the growth of the green packaging market in Asia Pacific.
North America dominated the green packaging market in 2016 and accounted for a market share of around 30%, with the U.S. being the major contributor. Initiatives taken up by the regulatory bodies regarding waste management and landfill drive the market growth in North America. Furthermore, stringent recycling targets set by the Environmental Protection Agency (EPA), are being implemented in the U.S., which in turn is augmenting the growth of the green packaging market in this region.
Based on materials, the green packaging market has been segmented into paper & paperboard, plastic, glass, metal, and others. The paper & paperboard segment dominated the market in 2016 and is expected to retain market dominance throughout the forecast period.
Middle East and Africa are witnessing sluggish growth at present due to weak penetration of several end users of green packaging. Political and economic instability in these regions restrain the market growth to a great extent. However, Latin America is expected to portray a favorable growth for green packaging during the forecast period on account of rising penetration of the end-use industries for green packaging and rising penetration by the manufacturers of green packaging.
Figure1. Global Green Packaging Market Share, By End-Use Industry, 2016
Based on the end-use industry, green packaging market has been segmented into food & beverages, healthcare, personal care, and cosmetics. In 2016, food & beverages accounted for a major share in the green packaging market and is expected to retain market dominance throughout the forecast period.
Major Players in the Global Green Packaging Market
The major players operating in the market of green packaging include Amcor Limited, Bemis Company Inc., Sealed Air Corporation, Tetra Laval International SA, Mondi Plc., Sonoco Products Company, Cargill Incorporation, Graham Packaging Company Incorporation, and Huhtamaki OYJ, among others.
Green packaging offers a better shelf life to the products by eliminating the adverse effects of conventional plastics, which are majorly used as packaging materials. Green packaging is also eco-friendly, owing to its biodegradability and recyclable nature. Asia Pacific is expected to record the fastest growth during the forecast period.
One of the major factors fuelling the growth of green packaging market include rising concerns regarding environmental safety. Further, pollution created by conventional plastics has posed a major threat to the marine ecosystem, since there has been numerous incidents where plastic pollution has emerged as one of the leading causes of deaths of marine animals. Further, rapid adoption of green packaging among the end-use industries is another key factor responsible for the growth of the green packaging market.
This report segments the green packaging market on the basis of material, process type, packaging type, and end-use industry. On the basis of material used, the green packaging market is classified into Paper & Paperboard including solid bleach sulfate, recycled, and others; Plastics including bio-degradable plastics and bio-based plastics; Metals including steel, aluminum, and others; and glass. Based on the process type, the market is classified into recycled content packaging, re-usable packaging, and degradable packaging. On the basis of packaging type, the green packaging market is classified into paper & paperboard packaging, plastic packaging, metal packaging, glass packaging, and others. The paper & paperboard packaging is further segmented as corrugated box, boxboard, paper bags, and others. Similarly, plastic packaging is further segmented into bottles, cans, bags, and others. Metal packaging is further segmented into barrels & drums, caps & closures, aerosols, and others. The glass packaging is further classified into jars, bottles, and others. Furthermore, on the basis of end-use industry, the green packaging is segmented into food & beverages, healthcare, personal care & cosmetics, and others.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.
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