The global green packaging film market was valued at USD 12 billion in 2016 and is expected to surpass USD 15 billion by 2021, says Technavio.
Technavio has announced its latest market research report on the global green packaging market, under its packaging portfolio. This market analysis discusses the major drivers and key emerging trends and offers an analysis of key vendors like Amcor, DuPont, Mondi, Sealed Air, and Tetra Laval.
According to Sharan Raj, a lead analyst for packaging research at Technavio, “Growing concerns pertaining to the environment is spurring an increase in preference towards the use of recyclable materials such as plastic resins derived from renewable resources. Few packaging manufacturers are implementing bio-based packaging solutions as viable alternatives to conventional plastics in an attempt to increase focus on sustainability.”
Bioplastic packaging products are more durable and sustainable when compared to conventional plastic packaging products. This is due to the fact that sustainable plastics consume less energy, generate lower CO2 emissions, and are lightweight. Furthermore, biodegradable green plastics are easily decomposable and have a relatively lesser toxic effect on the environment.
Demand from emerging countries
Owing to the increased demand for advanced, effective, and eco-friendly packaging, there is a significant trend in terms of the shift in demand to South America and Asia. The per capita consumption of bioplastics in APAC countries such as India and China are expected to increase. The key drivers responsible for the growth of the bioplastic market in emerging countries are the increase in manufacturing output for consumer goods, the rise in demand for packaged food and beverages, and growth of urbanization in these countries.
Product innovations
Packaged food and beverage companies are demanding eco-friendly packaging materials that are also visually appealing to consumers. As a result. vendors in the market space are looking for high-performing packaging options that allow them to retain low manufacturing costs. The use of such materials for the manufacture of bioplastics is becoming increasingly popular owing to the cost effectiveness it brings about.
This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. An analysis of the key companies, including their market shares, business overview, key financials, etc. is provided in this study. This market study also provides a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Green Packaging Market 2017-2021’.
Other related reports:
- Global Molded Fiber Packaging Market 2017-2021
- Global Tube and Stick Packaging Market 2017-2021
- Global ESD Packaging Market 2017-2021
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