This market research report presents a comprehensive breakdown of the global green packaging market and segmentation by product type (recyclable packaging, reusable packaging, and degradable packaging) and by end-user (food packaging, beverages packaging, healthcare packaging, personal care packaging, and other packaging). It also presents the market shares for key regions such as APAC, North America, Europe, and ROW. The key vendors analyzed in this report are Amcor, DuPont, Mondi, Sealed Air, and Tetra Laval.
Technavio has released updated information on the packaging market, with the publication of its new market research report, global green packaging market. The global green packaging market is expected to grow at a CAGR of around 7% between 2016 and 2020. The demand for eco-friendly and sustainable packaging materials by consumers is on the rise, and hence vendors are largely focusing on developing materials that can be recycled and have the traditional capabilities of friction, moisture, and heat resistance. Europe leads the global market for green packaging, accounting for 31% of the total market share. The increased demand for recycled packaging and recycled plastic products is the primary reason leading to the growth of the green packaging market in Europe.
“Packaged food, beverages, and personal care companies are demanding eco-friendly packaging materials that are also visually appealing to consumers. This has pushed vendors to introduce innovative products and use new technologies in their manufacturing. They are looking for high-performing packaging options that permit them to retain low manufacturing costs. For instance, sugar beet, corn, and sugarcane are new resources and raw materials used in the manufacturing of bioplastics. These raw materials are gaining popularity because they are cheap and biodegradable,” says Sharan Raj, Lead Analyst, Transportation & Logistics, Technavio Research.
Food packaging leads the global green packaging market, accounting for 56% of the total market share. The majority of the vendors in the market tend to use more green packaging materials to package food products. The increasing demand for dairy products is one of the major drivers for the growth of the food industry, thus leading to the overall market growth.
The key vendors in the global green packaging market include Amcor, DuPont, Mondi, Sealed Air, and Tetra Laval. Since the local players in the global green packaging market find it difficult to contend with the multinational players who have already established their position in terms of quality, features, and range of offerings, they started offering innovative solutions at a lower price compared to international players, thus leading to price wars in the market.
A more detailed analysis is available in the Technavio report, Global Green Packaging Market 2016-2020.
We can customize this reports by other regions and specific segments upon request.
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