Green Packaging Market Synopsis
Market Research Future (MRFR) reports that the global green packaging market is projected to exhibit a CAGR of 5.42% during the forecast period (2017-2023). Green packaging is more sustainable and eco-friendly. Stringent government regulations regarding use of plastics will propel manufacturers to opt sustainable packaging options over conventional packaging. Preference for sustainable packaging materials, increase in urbanization, and rising hygiene concerns strive to establish this market globally. Green packaging solutions are extensively used in the food service industry. Thus, popularity of the food industry backed by increasing number of restaurants and diners is likely to be key sources driving demand over the forecast period. Efforts by brand owners and packaging firms to encourage recycling will support the market growth worldwide.
On the flip side, restraining market growth factors are high cost of production and unstable prices of raw materials. But growing awareness among consumers about benefits of green packaging along with government campaigns to adopt eco-friendly alternatives can drive the growth of the green packaging market. Benefits of green packaging are waste reduction, increased recycling, energy conservation, and increased use of renewable materials.
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Advent of trends in green packaging market has further boosted the sales, namely customer-focused packaging which involves prevalence of portion control in food products for health-conscious customers. Production of flexible green packaging making it easy to store, reseal, open, and extend the shelf life of the product being purchased.
Key Vendors
The key vendors in the global green packaging market are Amcor Limited (Australia), Bemis Company, Inc. (U.S.), Tetra Laval International S.A. (Switzerland), Mondi Plc (South Africa), WestRock Company (U.S.), BASF SE (Germany), Sonoco Products Company (U.S.), Smurfit Kappa Group PLC (U.S.), Sealed Air Corporation (U.S.), and Huhtamaki OYJ (Finland).
The market is highly competitive due to presence of many multinational, regional, and local vendors. It is worth noting that local vendors compete in terms of cost owing to their inability to compete with international vendors in terms of features, quality, and range of offerings. Subsequently, growing number of vendors are focusing on innovation to gain an established position in the market space.
For instance, VPZ Verpackungszentrum has developed new type of green packaging, Packnatur cellulose bags, for fruits and vegetables. These bags are made from Forest Stewardship Council (FSC) certified beechwood. They are tear-resistant, waterproof, and moisture-regulating which means they can keep foods fresh for an extended period. Such product innovations by manufacturers help fuel the market growth, as they help with increasing bottom line margins, satisfy large amount of consumer needs, and secure a strong position in the green packaging market.
Target Audience:
- Manufactures
- Raw Materials Suppliers
- Aftermarket suppliers
- Research Institute
- Potential Investors
Market Segmentation
The green packaging market is segmented on the basis of packaging and application.
By packaging, the market is segmented into recycled content and degradable packaging. Recycled content packaging is highly favorable globally due to increasing urbanization. Apart from this, the manufacturing process of recycled content packaging is highly efficient and helps in minimizing the detrimental impact of factories on the environment. These factors can drive the recycled content packaging segment growth.
Based on application, the market is segmented into food & beverage, healthcare, personal care, and others. Personal care and beauty companies have been using green packaging in order to make packaging more sustainable. Moreover, green packaging keeps the personal care product stay fresh for a long time with an extended shelf-life. These factors have propelled the personal care green packaging market to great heights. The food and beverage packaging segment has a significant share in green packaging market owing to high demand for dairy products. Also, increasing demand for raw milk, yogurt, cheese, and other dairy products accelerates the growth of this segment in the global market.
Regional Analysis
Geographically, the segments of green packaging market are North America, Europe, Asia Pacific, and Rest-of-the-World (RoW).
MRFR analyzes that North America is leading the green packaging market with the United States being the leading contributor. Immense demand from industrial and manufacturing sectors in this region positively impacts the market. Moreover, rising awareness among consumers coupled with green packaging adopted across various industries such as fast moving consumer goods (FMCG) and personal body care can open new avenues for the green packaging market in this region.
The Asia Pacific region, on the other hand, is estimated to be the fastest growing market due to favorable government policies can facilitate the large-scale use of eco-friendly packaging in many countries in the region, thus allowing the green packaging market to create a stronghold in the region. Presence of large consumer base as well as growing government focus on adoption of eco-friendly solutions. Furthermore, manufacturers are becoming increasingly aware of the negative impact of non-biodegradable packaging and turning to green packaging for their products. For instance, L’Oreal and Alibaba Group in China are making a joint effort to reduce waste by using green packaging for all L’Oreal products sold in China.
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Scope of Report
The report for Global Green Packaging Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions
Table of Contents:
1 Executive Summary
2 Research Methodology
2.1 Scope of the Study
2.1.1 Definition
2.1.2 Research Objective
2.1.3 Assumptions
2.1.4 Limitations
2.2 Research Process
2.2.1 Primary Research
2.2.2 Secondary Research
2.3 Market Size Estimation
2.4 Forecast Model
3 Market Dynamics
3.1 Market Drivers
3.2 Market Inhibitors
3.3 Supply/value Chain Analysis
3.4 Porter’s Five Forces Analysis
Continued……
List of Tables
Table 1 Global Green Packaging Market, by Type
Table 2 Global Green Packaging Market, by Packaging Type
Table 3 Global Green Packaging Market, by Application
Table 4 Global Green Packaging Market, by Regions
Table 5 North America Green Packaging Market, by Type
Table 6 North America Green Packaging Market, by Packaging Type
Table 7 North America Green Packaging Market, by Application
Table 8 U.s. Green Packaging Market, by Type
Table 9 U.s. Green Packaging Market, by Packaging Type
Table 10 U.s. Green Packaging Market, by Application
Continued……..
List of Figures
Figure 1 Research Application
Figure 2 Global Green Packaging Market: by Type (%)
Figure 3 Global Green Packaging Market: by Packaging Type (%)
Figure 4 Global Green Packaging Market: by Application (%)
Figure 5 Global Green Packaging Market: by Region
Figure 6 North America Green Packaging Market, by Type (%)
Figure 7 North America Green Packaging Market, by Packaging Type (%)
Figure 8 North America Green Packaging Market, by Application (%)
Figure 9 Europe Green Packaging Market, by Type (%)
Continued……..
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