Green Packaging Market worth USD 319.3 billion by 2027

The Market Statsville Group (MSG) publishes the new report on the "Green Packaging Market by Type of Packaging (Recycled Content Packaging, Paper, Metal, Plastic, and Glass), Reusable Packaging (Drums, Plastic Containers, Intermediate Bulk Container, and Other Reusable Packaging), and Degradable Packaging), by End-Users (Food, Beverage, Pharmaceutical, Personal Care, and Other End-user Industry), by Region – Global Share and Forecast to 2027". The global green packaging market size is expected to grow from USD 210.4 billion in 2020 to USD 319.3 billion by 2027, at a CAGR of 7.2% during the forecast period. The increase in the use of green packaging solutions in packaging is driven by the continuously increasing demand for sustainable products by consumers industries. This is due to a growing awareness of the impact on the environment, the need to reduce the dependency on fossil resources, and the continuous advancements and innovations of the bioplastics industry in new materials with improved properties and new functionalities. Moreover, many brands are switching to sustainable packaging using green packaging solutions. For instance, Colgate is using recyclable toothpaste tubes. United Kingdom grocery retailer Waitrose uses containers made up of fiber-based material with a similar texture to cardboard for its ready meals. Nestle has developed a new paper wrapper for its Yes! Bars, which can be recycled.

Global Green Packaging Market Segmentation

The overall green packaging market has been segmented into the type of packaging, end-users, and region.

By Type of Packaging Outlook (Sales, USD Million, 2017-2027)

• Recycled Content Packaging
  • Paper
  • Metal
  • Plastic
  • Glass
• Reusable Packaging
  • Drums
  • Plastic Containers
  • Intermediate Bulk Container
  • Other Reusable Packaging
• Degradable Packaging

By End-Users Outlook (Sales, USD Million, 2017-2027)

• Food
• Beverage
• Pharmaceutical
• Personal Care
• Other End-user Industry

By Region Outlook (Sales, USD Million, 2017-2027)

• North America (US, Canada, Mexico)
• South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
• Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)
• The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA)

Food, by end-users, is estimated to hold the largest market share during the forecast period

Based on end-users, the global green packaging market is segmented into food, beverage, pharmaceutical, personal care, and other end-user industry. The food segment generated the highest revenue of 39.5% of the total global green packaging market in 2020, and it is expected to register a significant CAGR from 2021 to 2027. As environmental concerns have become more important, the general public has increased its focus toward sustainability. People are becoming more environmentally conscious, which indicates they are making more sustainability-minded purchases. As a result, the food packaging industry is seeing a shift in the preferences of its consumers.

Plastic has been one of the most preferred types of material in the food industry for over the past two decades. With the low cost associated with the manufacturing of plastics, companies are adopting recycled plastics, which enables them to manufacture packages at low cost and be in line with sustainability. In May 2020, Stokes Sauces announced the launch of squeeze bottles solely made from recycled plastic. The bottle itself is also 100% recyclable. It will be used for all five of its products, including its Tomato Ketchup and Reduced Sugar Tomato Ketchup and the Real Mayonnaise, Brown Sauce, and Original Barbecue.

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The Asia Pacific accounts for the largest market share in the green packaging market 2020

Based on the regions, the global green packaging market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. In 2020, Asia Pacific accounted for the highest market share of 36.8% in the global green packaging market and was anticipated to maintain its dominance throughout the forecast period. China is the largest economy in the Asia-Pacific region due to the increasing interest of companies. China is one of the fastest-growing economies globally, and almost all the end-user industries have been growing due to the rising population, living standards, and per capita income.

With the increasing population, rising income levels, urbanization, changing lifestyles, increasing internet penetration, and growing economy, the demand for packaging has been growing. Moreover, it is one of the strongest growing sectors in the country. According to Care Ratings, a prominent credit rating company in India, more than 49% of the paper produced in the country is used for packaging purposes.

This research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the green packaging market. It also consists of the profiles of leading companies such as E. I. du Pont de Nemours and Company, Mondi Limited, Amcor Limited, TetraPak International S.A., Ardagh Group Co., Sealed Air Corporation, Bemis Company, Inc, Uflex limited, ELOPAK AS, and PlastiPak Holdings, Inc.

Browse complete report: https://www.marketstatsville.com/green-packaging-market

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