The report "Global Green Packaging Market, By Type of Packaging (Recycled Content Packaging, Reusable Packaging, and Degradable Packaging), By Industry (Food, Beverage, Pharmaceutical, Personal Care, and Other Industries), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030. The green packaging market is developing and is projected to show significant growth over the forecast period, owing to factors such as the advent of bioplastic, environmental concerns on sustainable development and administration of stringent rules and policies by regulatory authorities. Additionally, there is an increase in awareness among consumers of luxury goods, toward green packaging techniques that use bioplastics as raw material, across various sectors, including, personal body care, FMCG, and pharmaceutical. For instance, McDonald's, Dunkin Donuts, and Starbucks have promised to phase out materials like plastics and polystyrene in the wake of a global movement against pollution. As of 2016, over 60% of McDonald's fibre-based packaging, worldwide, was obtained from certified or recycled sources.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global Green Packaging Market”, By Type of Packaging (Recycled Content Packaging, Reusable Packaging, and Degradable Packaging), By Industry (Food, Beverage, Pharmaceutical, Personal Care, and Other Industries), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030
Key Market Insights from the report:
The global green packaging market accounted for US$ 236.59 billion in 2019 and is projected to register a moderate CAGR over the forecast period. The market report has been segmented based on the type of packaging, industry, and region.
By type of packaging, reusable packaging is accounted to hold major revenue share in the global green packaging market over the forecast period. Reusable packaging is manufactured from durable material and is applicable for reuse. Reusable packaging is majorly used for pharmaceuticals, transporting chemicals, and bulk foods. Plastic boxes, drums, containers, and wooden pallets are some of the types of reusable packaging used for various applications.
By industry, food and beverages are projected to be the largest segment in the global green packaging market. This is mainly attributed due to increasing environmental concerns regarding the use of non-degradable materials for packaging and the rising popularity of edible packaging materials made from natural ingredients.
By region, Asia Pacific green packaging market is estimated to witness fastest growth rate in terms of revenue over the forecast period, due to growing adoption of eco-friendly packaging solutions along with the presence of large customer base in this region. Moreover, growing demand for reusable and recyclable packaging material in developing economies of region namely India and China is projected to drive the target market growth shortly.
In December 2017, Tetra Pak launched the Tetra Fino Aseptic 100 Ultra MiM, a new package that delivers customers an opportunity to produce liquid dairy and juice drinks using their existing production processes, and market them as ice creams and frozen products
In November 2017, Berry Global Group, Inc. had entered into a definitive agreement to acquire the Clopay Plastic Products Company, Inc., a subsidiary of Griffon Corporation, for USD 475 million. The acquisition is expected to strengthen the company's hygiene and healthcare division.
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The prominent player operating in the global Green Packaging market includes Amcor Limited, Sealed Air Corporation, Mondi Group, Tetra Pak International SA, Winpak Limited, Berry Global Inc., BASF SE, Bemis Company Inc., Huhtumaki Oyj, and DowDuPont
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