Green Packaging Market: Increased environmental concerns to Aid Market Expansion
Category: Packaging Published Date : October 2022 ID: CVC-00234 Format: PDF Pages: 270
Green Packaging Market Size Analysis
According to a research survey conducted by ChemView Consulting, in 2022, the Global Green Packaging Market was worth US$ 2,87,200.0 Mn and is expected to grow at a CAGR of 5.5% over the forecast period. The market is expected to hit US$ 4,40,700.0 Mn by 2032 end.
The use of packaging materials and manufacturing processes that have a minimal impact on energy use and the environment are referred to as “green packaging.” Green packaging, often energy-efficient or sustainable, uses recyclable and biodegradable materials.
Solid bleach sulfate, bio-based polymers, biodegradable plastics, and recycled papers are some of the main components utilized in the production of green packaging items.
INCREASING AWARENESS ABOUT THE ENVIRONMENT DRIVES THE MARKET
The sector is anticipated to increase due to severe limited single-use plastics and growing consumer awareness of sustainable packaging. The business is expected to expand steadily because of the expanding food and beverage sector, which is using packaging made of recyclable and biodegradable materials more and more.
The market has grown due to a rise in consumer awareness of eco-friendly packaging strategies that employ bioplastics as a raw material across several industries, including FMCG, personal care, and pharmaceuticals.
HIGH PRODUCTION COSTS AND LITTLE SUPPORT FROM THE GOVERNMENT HAMPER THE MARKET GROWTH
Due to high production and setup costs, businesses have been hesitant to use green packaging. Additionally, a lack of government activities, particularly in developing nations through recycling subsidies, and a shortage of storage space for recovered materials restrain market expansion.
Segments Covered in Report
By Packaging Type:
By Region and Country:
Why is the Food & Beverage application of Green Packaging projected to have a larger market share?
With 61.0% of the total revenue earned by applications in the green packaging market, food & beverage packaging was the industry’s top revenue producer. Packaging for FMCG products, dairy products, drinks, and other items is included in this sector.
The use of molded pulp packaging and biodegradable packaging by many restaurants, fast food chains, packaged food businesses, and casual dining establishments is a result of the growing popularity of green packaging. This adoption is expected to fuel the food and beverage market.
Which packaging type is expected to expand the fastest during the forecast period?
The market’s largest green packaging market share was held by packaging made from recycled content packaging materials. Packaging made from recycled materials makes greater use of green technologies and resources. It comprises various materials, including glass, paper, plastic, and metal.
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, the Middle East, and Africa.
Players in the industry are concentrating their R&D efforts on developing new plant-based polymers that mirror the characteristics of plastics already in use. Companies are revamping packaging to use less material, which reduces costs and trash production. Companies in the market are spending more money on creative packaging ideas and novel materials with limitless recycling potential.
A list of some of the key suppliers present in the market are:
Global Green Packaging Market 2022-2032: Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Million for Value and Tons for Volume, and CAGR from 2022 to 2032|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Packaging Type, Application, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|