Green packaging refers to the packaging products and processes that are environmentally sustainable and cause no pollution along the supply chain. It involves the use of recycled materials during production, biodegradable materials, minimal packaging, and reduced toxicity. Green packaging helps protect consumer products while reducing pollution by decreasing plastic usage, eliminating waste, and minimizing carbon emissions. The growing demand for sustainable packaging options from various industries including food and beverages, pharmaceuticals, and consumer goods is fueling the demand for green packaging materials.
Market key trends:
The increased demand for sustainable packaging materials from various industries is one of the major trends driving the growth of the green packaging market. Various businesses are increasingly adopting green packaging solutions as consumers are paying more attention to eco-friendly products and packaging. Companies are replacing plastic and other non-biodegradable materials with green packaging options such as paper from sustainably managed forests and agriculturally based plastics to attract conscious customers. Advancements in green packaging technologies and availability of innovative and affordable eco-friendly materials are also supporting the green packaging market growth. However, high costs of certain green packaging solutions currently remain a challenging factor.
Segment Analysis
The global green packaging market is dominated by the recycled content segment. This segment held around 40% share of the overall market in 2022 owing to increasing focus on waste reduction and reuse of materials. The recycled content segment includes packaging produced from recycled materials such as paper, plastic, glass and metals. It helps reduce the dependency on virgin materials for packaging.
Key Takeaways
Global Green Packaging Market Size is expected to witness high growth over the forecast period of 2023 to 2030.
Regional analysis related content comprises Asia Pacific represents the fastest growing region in the global green packaging market. Growing environmental concerns and stricter regulatory policies are driving the adoption of green packaging in countries such as China, India and Japan.
Key players related content comprises Key players operating in the green packaging market are Amcor PLC, Mondi PLC, Sealed Air Corporation, Tetra Pak and Ball Corporation. Amcor PLC holds around 15% market share owing to its vast product portfolio and geographical presence across major markets.
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