As a result of, environmental concerns rising around the world, efforts are being made by government and non-governmental organizations to reduce emissions of toxic wastes. The use of green packages causes extremely low toxic emissions and thus reduces the number of people in the form of soil. Therefore, there is a widespread demand for green packaging to keep the environment pollution free and clean. In addition, the clean environment and the stringent rules made by them are likely to increase in the next few years due to the growing initiative of government around the world.
According to research report, the Global green packaging market is expected to reach USD 230.19 billion and growing at a CAGR of 6.50% over the forecast period 2016 to 2024.
The idea of green packaging is to use biodegradable materials to provide efficient packaging that can be easily reused and can be recycled. Increasing awareness of environmental issues and reducing carbon footprint improves green packaging business expansion. Governance is also governing regulation to increase the recycling and recycling of packing waste.
Green packaging causes less soil pollution and less toxic emissions. Demand for environmental pollution free and demand for green packaging market worldwide. Due to the harsh rules, growers have to take environmental friendly packaging which is considered as an advanced productive responsibility (EPR). These major components are running the global green packaging market.
On the other hand, high initial production costs and low profit margins for green packaging prevent the green packaging market from increasing. Due to lack of awareness of green packaging, consumers have limited green color packaging demand.
The report provides details about “Green Packaging” market with the current and upcoming trend, size and various other prime parameters. The report also brief about the leading players and the methods used by them to stand against their competitor. The report analysis gives a clear understanding of key points of industry, marketing and promotion strategies use by them so they can always lead the market. The report provides complete overview of “Green Packaging” industry and gives an idea to business what should be their next move and step should be taken in future.
North America is the dominating region for global green packaging business in followed by Europe accounted for 30% market share of green packaging in 2015 and is expected to dominate the market over the forecast period.
The Asia-Pacific region is fastest growing for the global packaging market and is expected to register healthy growth rates in the future. Growing population and growing consumption in China, Singapore, South Korea, India and Japan, and recycling of green packaging contribute to the development of the green packaging market in this area.
In addition, the popularity of the recyclable plastic containers and strict conventions of traditional packaging are increasing demand for green packaging in countries such as Brazil, Saudi Arabia, United Arab Emirates and South Africa.
Some of the major players of the global green packaging market which includes profiling of companies Amcor Limited, Mondi plc, DS Smith, DuPont, Georgia-Pacific LLC, Ball Corporation, Evergreen Packaging, Tetra Laval Corporation, International Paper Company, Airlite Plastics, Cascades, Graham Packaging Company and BioMass Packaging.
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