Green Packaging Market to Surpass USD 413 Billion by 2028

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The global green packaging market size was valued at USD 259 billion in 2020 and is projected to surpass USD 413 billion by 2028 with a CAGR of 6.0% from 2021 to 2028.

Growing consumer awareness regarding sustainable packaging, together with rising government bans in countries around the world related to single-use plastics, is expected to fuel the industry growth.

The study has considered the base year as 2020, which estimates the market size of market and the forecast period is 2021 to 2027. The report analyzes and forecasts the market size, in terms of volume (thousand units) and value (USD million), for the market. The report provides a detailed analysis of various forces acting in the market (drivers, restraints, opportunities, and challenges). The report covers key players and comprehensively analyzes their market shares and core competencies. It also tracks and analyzes competitive developments such as joint ventures, mergers & acquisitions, new product launches, expansions, and other activities carried out by key industry participants.

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The green packaging market is emergent, and is anticipated to show significant growth in the next six years, fueled by the advent of bioplastic, environmental concerns on sustainable development and enforcement of stringent rules and policies by regulatory authorities. There is a rise in awareness among consumers of luxury goods, toward green packaging techniques that use bioplastics as raw material, across various sectors, including FMCG, personal body care, and pharmaceutical. The amount of solid waste generated is not at par with the recycling capacity, thus, it restrains the market.

Type Insights

The industry is categorized into recycled content, reusable, and degradable packaging based on type. The recycled content segment held the largest share of 61.5% in 2019. The segment includes materials that can be recycled, such as paper, plastic, glass, and metal. These materials are reused by the manufacturers as raw materials to make new packaging products resulting in curbing excess pollution caused by packaging waste.

The plastic-type in recycled content segment held the largest share in 2019 as it is prominently used around the globe and offers vital packaging properties that materials such as paper fail to deliver. Plastics are also very cost-efficient, which has made them a preferred choice of material, especially in emerging economies where the cost of the product is an important aspect. The plastics segment is expected to witness promising growth in the forecast period owing to the increasing adoption of flexible pouches in various end-use industries.

Paper is the next major segment under recycled content packaging as it is easily available, accessible, and known by consumers. Paper is used in flexible as well as rigid packaging solutions. Paper packaging is experiencing increased market penetration due to enhanced functionalities, such as waterproofing through laminates and coatings. Paper has been popularly used in bakery products and foodservice applications.

The reusable segment comprises drums and plastic containers that are made from durable materials intended for multiple or longer use. Drums are used for the transportation of fluids, majorly a variety of chemicals. They have a long shelf life and can be reused for other purposes, such as garbage bins. Plastic containers are gaining prominence among fruits and vegetable producers and sellers as they can be used for a long period and are convenient for storage and transport.

Application Insights

The food and beverages application segment led the industry with more than 59% share of the global revenue in 2019. With the rising popularity of green packaging, many restaurants, fast food chains, packaged food companies, and casual dining venues are adopting molded pulp packaging and compostable packaging, which, in turn, is projected to drive the food and beverages segment.

Many manufacturers of personal care products are shifting towards green alternatives by reducing the overall material used for packaging. The change is partly driven by consumer consciousness regarding the sustainability of the packaging of a product. Many consumers have started criticizing personal care product manufacturers for excessive packaging done for aesthetic purposes with no real necessity. Companies have thus adopted paperboard packaging with thin plastic packaging wherever necessary.

The healthcare segment has shown promising growth despite the strict regulations related to the safety of packaging of products. For the large part, the pharmaceutical industry makes use of glass packaging as it is inert and suitable for the packaging of different drugs. Aluminum foil is another popular packaging material used by the pharmaceutical industry for the packaging of capsules and pills.

The companies in the market space serving the healthcare industry are introducing innovative molded pulp packaging products to replace reusable utensils used in hospitals for more convenience. With the increasing pressure on hospitals due to the COVID-19 pandemic, disposable environment-friendly alternatives are expected to drive the demand further.

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Regional Insights

Europe dominated the market in 2019 with a share of 37% due to stringent regulations imposed by the European Union and other European countries concerning the use of single-use plastics. The European Directive has introduced the concept of a circular economy, wherein it has issued guidelines and goals of sustainability. European companies have started following the circular economy roadmap by embracing recyclable, recycled, and degradable materials.

Asia Pacific ranked second in terms of value in 2019, as the region is seeing a rise in government regulations and initiatives that are encouraging manufacturers to opt for green packaging. China, the biggest manufacturing hub in the world, is changing its packaging habits and materials to make them more environmentally friendly. Due to the sheer volume of the products shipped out of China, this move will have a great impact on the market growth in the region. The Australian government has set out a target to adopt 100% recyclable packaging on or before 2025, which will lead to a stark upward trend in the market value over the forecast period.

North America is at par with the Asia Pacific region in terms of market share owing to the aggressive efforts put forth by the governments in the region. The government of Canada has established numerous recycling infrastructures to aid in recycling in the country. Canada imposed a major ban on the use of polystyrene containers and cups in Vancouver in 2019, intending to lower the disposal of solid waste by 2040. The government initiatives complement the consumer demand that is leaning towards green packaging and choosing the products that are environment friendly, thus driving the demand in the region.

Major players in green packaging market are Amcor Limited, E. I. DuPont de Nemours and Company, Mondi Limited, Sealed Air Corporation, TetraPak International S.A., Ardagh Group Co., PlastiPak Holdings, Inc., Bemis Company, Inc., Uflex limited, and ELOPAK AS.

Other key players (not profiled in the report) in the green packaging market value chain include BASF SE, Catalyst Paper, Clorox Company, Berry Plastics, TetraLaval, Printpack Inc, Ball Corporation, Innova Films Ltd, and Phoenix Technologies.

Segmentation

By Packaging Type

  • Recycled Content Packaging
  • Paper
  • Plastic
  • Metal
  • Glass
  • Others
  • Reusable Packaging
  • Drums
  • Plastic Containers
  • Others
  • Degradable Packaging

By Application

  • Food and Beverage
  • Personal Care
  • Health Care
  • Others

By Geography

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Rest of Europe
  • Asia-Pacific
    • China
    • India
    • South Korea
    • Japan
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa

The Green Packaging market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Green Packaging market for the base year 2019 and the forecast between 2020 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Green Packaging market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Green Packaging market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Green Packaging market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Green Packaging capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Green Packaging by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Green Packaging market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Green Packaging market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Green Packaging market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Green Packaging industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

Green Packaging market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Green Packaging market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Green Packaging market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Green Packaging market. These factors have benefited the growth of the global market for Green Packaging. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Green Packaging. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Green Packaging are as follows:

  • History Year: 2016-2019
  • Base Year: 2019
  • Estimated Year: 2020
  • Forecast Year 2020 to 2027

Reasons to Purchase this Report:

– Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
– Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
– Market value USD Million and volume Units Million data for each segment and sub-segment
– Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
– Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

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Steve Robber

My name is Steve Robber, I’m the Owner of Market Stats News. Steve has served in many positions at various organizations for the past seven years. Currently he is an Author at Finance.Yahoo. Contact us for a free news publication, we look forward to speaking with you!

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