According to a new report by Expert Market Research titled, “Global Green Packaging Market Size, Share, Report and Forecast 2024-2032″, the global green packaging market reached a value of USD 199.05 billion in 2023. Aided by increasing environmental awareness and emerging government policies to promote the adoption of green packaging across multiple industries, the market is projected to further grow at a CAGR of 6.80% between 2024 and 2032 to reach a value of USD 291.5 billion by 2032.
Green packaging, often referred to as sustainable packaging, essentially implies the use of materials and manufacturing methods that have a minimal impact on energy consumption and the environment. Materials like recycled paper, bioplastics, and organic fabrics are commonly used in this domain. The pivotal role green packaging plays is in reducing carbon footprints, lowering waste production, and ensuring that products are as environmentally friendly as possible, including their packaging.
The green packaging market growth can be attributed to the escalating awareness regarding environmental conservation. In recent years, the world has witnessed drastic climate changes and environmental degradation. This has led to an awakening among consumers and industries alike, pushing them to opt for more sustainable solutions, with green packaging being at the forefront.
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Furthermore, several government initiatives and regulations promoting eco-friendly packaging solutions play a crucial part in this shift. Imposing restrictions on non-biodegradable plastics and offering incentives for sustainable packaging initiatives have significantly driven the market forward.
The green packaging market trends suggest a rising demand for innovative solutions that cater to both functional and environmental needs. For instance, the food and beverage sector is increasingly using biodegradable plastics and recyclable materials. These materials, apart from being eco-friendly, also promise extended shelf life and better protection against contaminants.
E-commerce, which has witnessed an explosive growth in recent years, is another sector where the green packaging market demand is notably high. As companies strive to create a responsible brand image, the switch to sustainable packaging solutions becomes a paramount part of their strategy. This not only appeals to the environmentally conscious consumer but also brings forth operational cost savings in the long run due to the recyclable nature of the materials used.
The green packaging market analysis also highlights the role of technological advancements in the market development. Innovations such as plant-based plastics, edible packaging materials, and smart packaging techniques that reduce the overall material usage are revolutionising this space. These advancements not only address the ecological concerns but also focus on retaining, if not enhancing, the quality and safety of the product contained.
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Market Segmentation
The market can be divided based on packaging type, end use industry, and region.
Market Breakup by Packaging Type
• Recycled Content Packaging
o Paper
o Plastic
o Metal
o Glass
o Others
• Reusable Packaging
o Drum
o Plastic Container
o Others
• Degradable Packaging
Market Breakup by End Use Industry
• Food Industry
• Beverage Industry
• Healthcare Industry
• Personal Care Industry
Market Breakup by Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global green packaging market. Some of the major players explored in the report by Expert Market Research are as follows:
• Amcor plc
• DuPont de Nemours, Inc.
• Mondi plc
• Sealed Air Corporation
• Plastipak Holdings, Inc.,
• Others
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