A new Transparency Market Research report states that the global Green Packaging Market was valued at US$132.4 bn in 2014 and is predicted to reach US$203.1 bn by 2021. It is expected to rise at a CAGR of 6.20% between 2015 and 2021. The title of the report is “Green Packaging Market - Global Industry Analysis, Trend, Size, Share and Forecast 2015 – 2021”.
Packaging is one of the most important promotional tools to attract consumers. For consumers, packaging refers to safety convenience and comfort whereas for manufacturers, packaging represents profit and survival. The toxic materials used in packaging are contributing to environmental issues such as water pollution, land fill and air pollution. One of the new additions to the environmental concern for packaging is green packaging or sustainable packaging. In broader sense, “green packaging” means the type of packaging that is eco-friendly. Companies implementing green packaging are reducing their carbon footprints and are using recycled material for packaging. The global green packaging market is expected to experience a stable growth throughout the forecast period. The green packaging market is segmented on the basis of application, packaging type, and geography. The various categories of the packaging type include recycled content packaging, degradable packaging and reusable packaging.
The recycled content packaging is further bifurcated into paper packaging, plastic packaging, glass packaging and metal packaging among others. The reusable packaging is further segmented into drums, plastic container and others. By application, the green packaging market has been segmented into food and beverage packaging, personal care packaging, health care packaging and others. In addition, the report provides a cross-sectional analysis of all the above segments with respect to different geographical regions including North America, Europe, Asia Pacific and Rest of the World (ROW).
This study focuses on current market trends and the forecast from 2015 to 2021. The current market scenario for global green packaging market and future trends that are expected have an impact on growth and demand of green packaging is provided in the report. This report provides the present market size and forecast till 2021. The micro economic factor affecting the demand and growth of the market has also been provided in the report.
In the global green packaging market, among the application segment the food and beverage packaging held the largest market share in 2014 and is expected to grow at a CAGR of 6.4% during the forecast period from 2015-2021.Food and beverage industries are the largest consumer of green packaging. As the demand for eco friendly packaging increases among consumers the manufacturers of food and beverage products have started adopting green packaging for their products.
The U.S. is the largest market for green packaging because of the extensive use of eco friendly packaged products. Asia-Pacific region especially India and China are the fastest growing market for green packaging .Huge concentration of food and beverage industries which is the major consumer of green packaging products is one of the key factors driving the green packaging market in Asia Pacific. The developed countries like Canada and Japan offers one of the largest market but growth rate is slow since the market penetration of green packaging market is the highest. Europe is one of the major markets globally for green packaging and is expected to have a healthy growth over the forecast period.
The major players operating in the green packaging market includes Crown holding, Tetra Laval, Amcor, E. I. Du Pont de Nemours, Ball Corp., Biopack Environmental Solutions, Constar International Inc. EnviroPAK and Bemis Company among others.
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