According to the latest report by IMARC Group, titled “Global Green Packaging Market Report: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global green packaging market reached a value of US$ 232 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 319 Billion by 2027, exhibiting at a CAGR of 5.5% during 2022-2027. Green packaging, also known as sustainable packaging, refers to a type of packaging that uses sustainable materials and manufacturing processes to reduce environmental degradation. It incorporates plant-based plastics, recycled packaging materials, and biodegradable products for manufacturing different products. Apart from this, green packaging involves the utilization of renewable energy sources, like biofuels, wind, and solar, in the transportation process. The combination of all these processes helps in reducing the carbon footprints, as well as creating a balance in the environment. As a result, several manufacturers are shifting from conventional synthetic packaging to sustainable variants.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally–our estimates about the latest market trends and forecast values after considering the impact of this pandemic. These observations will be integrated into the report.
Global Green Packaging Market Trends:
Green packaging has gained traction in most countries on account of the increasing environmental concerns. Coupled with this, rising transportation and energy costs are also contributing to the growth of the market. Moreover, adverse consumer perception for conventional packaging and government pressure to shift toward eco-friendly materials have provided a thrust to the market growth. In recent years, several brands have incorporated green packaging solutions to reduce their carbon footprint.
For instance, Nestlé SA invested about US$ 2.1 Billion in January 2020 to shift from virgin plastics to food-grade recycled plastics. Moreover, the company is supporting start-up companies with the latest green solutions by launching a venture fund with US$ 260 Million. Similarly, H&M AB, a clothing-retail company, has taken a step toward green packaging by dispatching their online orders in biodegradable and sustainable paper packaging in selected areas from 2021.
Global Green Packaging Market 2022-2027 Analysis and Segmentation:
Competitive Landscape With Key Players:
- Uflex limited
- ELOPAK AS
- Amcor Limited
- Mondi Limited
- Ardagh Group Company
- PlastiPak Holdings
- Bemis Company
- Sealed Air Corporation
- TetraPak International S.A.
Also Read Full Blog: Top 10 Players in Global Green (sustainable) Packaging Companies in World
Market Breakup by Packaging Type:
- Recycled Content Packaging
- Reusable Packaging
- Plastic Container
- Degradable Packaging
Market Breakup by End-Use Industry:
- Food Industry
- Beverage Industry
- Healthcare Industry
- Personal Care Industry
Market Breakup by Region:
- Asia Pacific
- Middle East and Africa
- Latin America
- North America.
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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