Green Packaging Market Forecasts to 2028 - Global Analysis By Packaging Type (Reusable Packaging, Recycled Content Packaging, Degradable Packaging), Material (Paper, Plastic Metal, Glass, Other Material) Technique (Active packaging, Multipurpose packing, Molded packing, Alternate fiber packing), Application and By Geography

According to Stratistics MRC, the Global Green Packaging Market is accounted for $274.15 billion in 2022 and is expected to reach $511.20 billion by 2028 growing at a CAGR of 8.0% during the forecast period. Green packaging, also known as sustainable packaging, uses less energy and has a smaller negative impact on the environment. Green packaging alternatives to items like plastic and Styrofoam use recyclable and biodegradable components. Additionally, green packaging uses less energy and emits less greenhouse gases. Green packaging has a lower carbon footprint than synthetic packaging that is typically used, which enhances environmental and human sustainability over time. Green packaging necessitates methods for minimising the waste and pollution generated during the production process. Growing public awareness of environmental protection and sustainable living is one of the major market drivers. Along with stringent government regulations for environmental protection, this is also a current industrial trend.

According to Forbes, a lot of personal protective equipment (PPE) used by the public is being discarded carelessly. The pushback against single-use plastic bans has heightened demand for bottled water, plastic bags, and disposable wipes, and sanitizers.



Market Dynamics:

Driver:

Increasing Knowledge about Importance of Green Packaging

Consumer awareness of the advantages of green packaging is predicted to rise quickly over the course of the projection period, accelerating the growth of the green packaging market share. Green packaging is a type of sustainable packaging that serves to safeguard the environment by lowering greenhouse gas emissions as well as the accumulation of packaging trash. In addition, it is anticipated that the introduction of biodegradable packaging materials by businesses, such as bioplastics and biopolymers, for the packaging of a variety of products, including food and beverages, will lead to a significant increase in the size of the green packaging market over the foreseeable future.

Restraint:

High Cost of Green Packaging to Restrain the Market Growth

The cost of using green packaging for product packaging is high. This is primarily caused by the expensive processing of recycled goods. As a result, few industries, particularly those in underdeveloped countries, can afford the high expense of green packaging. This factor is probably going to make it harder for green packaging to increase its market share in the coming years. Additionally, not many consumers, particularly in rural parts of poor nations, are aware that there are marketable sustainable and environmentally friendly packaging options. Therefore, it is expected that this factor will further restrain market expansion throughout the anticipated time frame.

Opportunity:

Increasing efforts to deploy green packaging materials

Governments all around the world are making greater efforts to use eco-friendly packaging materials as more and more companies switch to eco-friendly packaging. The medical and pharmaceutical industries' growing need for inert, environmentally friendly, and light-weight packaging materials is predicted to substantially expand market opportunities for the leading players. Major corporations are also expanding their collaborations and prospects for collaboration as a result of the rising need for affordable and multipurpose green packaging materials in markets around the world.

Threat:

Environmental Concerns to Hamper Demand for Sustainable Packaging

The use of biodegradable additives and compostable materials, as well as recycling concerns, are only a few of the environmental problems associated with packaging solutions. Because recycling requires a number of labor-intensive procedures from collection to recycling, recycling companies are unable to sell plastic and paper products at rates that make them profitable. So they throw on more costs to make up the difference. Some cities, including Philadelphia, have started selling their recyclables to incinerators that burn the waste to produce energy that powers the cities' electric grids. This method is far from ideal because of the significant air pollution and carbon emissions produced.

Covid-19 Impact

The COVID-19 pandemic's emergence has been shown to have a negligible effect on the expansion of the green packaging sector. Patients now fear infection and its severe symptoms because the COVID-19 pandemic has had such a negative influence on peoples' health and welfare worldwide. The government had enforced a global lockdown due to the high rate of corona virus transmission and the prevalence of serious symptoms. As a result, numerous industries stopped operating their industrial facilities. As a result, there was a sharp decline in the need for green packaging materials for product packaging. This reason has slowed the market share increase for green packaging during the pandemic year. However, the COVID-19 pandemic period saw a rise in the market for green packaging. People changed their shopping habits throughout the pandemic.

The material segment is expected to be the largest during the forecast period

Due to rising consumer interest in eco-friendly products and resources, the paper segment is predicted to have significant revenue growth over the course of the projection period. Food items, cosmetic samples, and transportation industries all employ paper packaging in a variety of sizes and formats, including paper bags, boards, sacks, and sheets. Another element that is anticipated to have a substantial impact on the segment's sales growth is the growing use of paper packaging to shield products from shelves while they are being stored.

The food and beverages segment is expected to have the highest CAGR during the forecast period

Due to rising demand for convenience foods and takeout meals, the food and beverage category is anticipated to generate the biggest revenue share by application over the projection period. Other factors that are anticipated to drive demand for green packaging in the market include the fast-paced lifestyle of the millennial generation and its increased consumption of frozen foods and ready-to-cook food items. The inert nature of green packaging also contributed to its increased popularity in the packaging of dairy goods, fizzy drinks, and alcoholic beverages. Other factors anticipated to contribute to the market revenue growth of the category over the projected period include growing research and development efforts to design low weight and economical packaging choices.

Region with highest share:

Due to expanding government initiatives in the area, North America is anticipated to hold the greatest revenue share during the projection period. For instance, strict government regulations in the US and Canada are encouraging a rise in the use of eco-friendly packaging in these nations. Green packaging is being used in the food and beverage industries as a result of growing consumer desires for environmentally friendly and biodegradable packaging. Other factors that are anticipated to contribute to the market's revenue growth over the projected period are rising innovations in attractive printing and branding on green packaging and expanding R&D efforts.

Region with highest CAGR:

Over the forecast period, Asia Pacific is anticipated to post a significantly rapid CAGR in revenue. Rapid population increase and rising demand for packaged and takeout meals are two major drivers anticipated to fuel market revenue development. Other aspects that are anticipated to contribute to the market revenue growth include the high availability of raw materials like paper and bioplastics. An additional set of factors that are anticipated to contribute to the market's revenue growth during the projected period include the availability of labour and the quick development of green packaging technologies in important nations like China and India.



Key players in the market

Some of the key players profiled in the Care Management Solution Market include BASF, Amcor Limited, Mondi Limited, Sealed Air Corporation, PlastiPak Holdings, Inc, ELOPAK AS, WestRock Company (U.S.)S, Sonoco Products Company, Ball Corporation, Tetra Pak International SA, DS Smith PLC, Crown Holdings Incorporated, Be Green Packaging, Evergreen Packaging, Uflex limited, Bemis Company, Inc, Sustainable Packaging Industries, Swedbrand Groups, Paperfoam, Winkpak LTD.

Key Developments:

June 2021- Amcor launched an eco-friendly chocolate pack in South America. The company has designed and manufactured the recyclable plastic packaging for powdered chocolate. The packaging reduced the carbon footprint by 53% than the previous packaging.

December 2020 - Amcor Ltd in partnership with 35 leading companies in the consumer goods industry, announced measures to significantly reduce plastic waste. Amcor and its partners in this coalition – which have a collective turnover of 1 trillion euros - will be enforcing two new design rules to deliver packaging that is easier and more cost-effective to recycle.

April 2020 - Ball Corporation announced the five aluminum packaging plants with the most significant operational and social sustainability improvements, including progress across the areas with the most significant sustainability impact across operations and the promotion of aluminum packaging sustainability credentials and engagement in their local communities.

Packaging type Covered:
• Reusable Packaging
• Recycled Content Packaging
• Degradable Packaging

Material Covered:
• Paper
• Plastic
• Metal
• Glass
• Other Material
Technique Covered:
• Active packaging
• Multipurpose packing
• Moulded packing
• Alternate fiber packing

Application Covered:
• Personal Care
• Food and Beverage
• Health Care
• Others Applications

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

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• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
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• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances