Pune, Aug. 02, 2023 (GLOBE NEWSWIRE) -- Based on the SNS Insider report, “The Green Packaging Market reached USD 306.73 billion in 2022 and is projected to attain USD 496.31 billion by 2030, experiencing a compound annual growth rate (CAGR) of 6.2% during the forecast period from 2023 to 2030”.
Market Report Scope
Green packaging, also known as eco-friendly or sustainable packaging, refers to the use of environmentally friendly materials and practices in the design, production, and distribution of packaging materials. The primary goal of green packaging is to reduce the environmental impact associated with traditional packaging methods, which often involve the use of non-biodegradable materials that contribute to pollution and waste.
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Market Analysis
The green packaging market is experiencing robust growth due to a confluence of factors. Increasing environmental awareness, stringent government regulations, cost savings, consumer demand for ethical brands, advancements in material technology, and the e-commerce boom are all significant drivers behind this trend. As businesses and consumers continue to prioritize sustainability, the market is poised for continued expansion, revolutionizing the way products are packaged and delivered while preserving the planet for future generations.
Green Packaging Market Overview & Scope:
| Report Attributes | Details |
| Market Size in 2022 | US$ 306.73 Bn |
| Market Size by 2030 | US$ 496.31 Bn |
| CAGR | CAGR of 6.2% From 2023 to 2030 |
| Key Segments | • By Raw Material (Plastic, Paper, Metal, Others) • By Packaging Type (Recycled Content Packaging, Reusable Packaging, Degradable Packaging) • By Application (Healthcare, Food & Beverages, Personal Care, Others) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands,Rest of Europe), Asia-Pacific (Japan, South Korea,China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| % free customization scope (equivalent to 50 analyst working hours) | If you need specific information as per your business requirement, which is not currently within the scope of the report, we will provide it to you as a part of customization. |
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Impact of Recession
The green packaging market has displayed commendable resilience in the face of recessionary pressures. Driven by growing consumer awareness, governmental support, and the intrinsic value of sustainability, the industry has managed to maintain its position as a crucial player in the packaging sector. While challenges persist, the industry's innovative spirit, cost-effectiveness, and commitment to environmental preservation continue to shape a greener and more sustainable future for businesses and consumers alike.
Impact of Russia-Ukraine War
The Russia-Ukraine war has had significant ramifications on various industries worldwide, including the green packaging market. The disruptions in supply chains, escalating material costs, decreased investments, shifting trade dynamics, and changes in consumer behavior have collectively impacted the growth and adoption of green packaging solutions. While the future remains uncertain, businesses in the green packaging sector must adapt and find resilient strategies to navigate these challenging times and continue promoting sustainability in packaging practices.
Impact of COVID-19 Pandemic
The COVID-19 pandemic had a profound impact on the green packaging market, presenting both challenges and opportunities. While the increased demand for single-use packaging temporarily posed hurdles for sustainability goals, the pandemic also accelerated the adoption of eco-friendly solutions driven by consumer awareness and government initiatives.
Key Regional Development
The global green packaging market's regional dynamics exhibit varied stages of growth and development, with some regions leading the charge and others gradually catching up. The increasing awareness of environmental issues, supportive government policies, and changing consumer preferences are the driving forces behind the industry's expansion. To realize the full potential of the market, collaboration between governments, businesses, and consumers is essential.
Key Takeaway from Green Packaging Market Study
- The green packaging revolution is reshaping the packaging industry, with paper and healthcare segments taking center stage. The increasing consumer demand for sustainable and eco-friendly products, coupled with stricter environmental regulations, is propelling the adoption of green packaging across the globe.
- As the packaging landscape transforms, businesses in the paper and healthcare sectors have a unique opportunity to establish themselves as leaders in the market by aligning their practices with environmental stewardship.
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Recent Developments Related to Green Packaging Market
- In a strategic move to expand its presence in the European packaging market, DS Smith, a leading global packaging company, has announced its acquisition of a prominent Serbian packaging company.
- In a groundbreaking collaboration, Republic Services and Ravago have joined forces to spearhead the advancement of sustainable packaging solutions. With an ever-increasing global focus on environmental conservation and responsible waste management, this partnership comes at a crucial moment.
Table of Contents
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia War
4.3 Impact of Ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Green Packaging Market Segmentation, By Raw Material
8.1 Plastic
8.2 Paper
8.3 Metal
8.4 Others
9. Green Packaging Market Segmentation, By Packaging Type
9.1 Recycled Content Packaging
9.2 Reusable Packaging
9.3 Degradable Packaging
10. Green Packaging Market Segmentation, By Application
10.1 Healthcare
10.2 Food & Beverages
10.3 Personal Care
10.4 Others
11. Regional Analysis
11.1 Introduction
11.2 North America
11.3 Europe
11.4 Asia-Pacific
11.5 The Middle East & Africa
11.6 Latin America
12 Company Profile
12.1 Tetra Laval
12.1.1 Company Overview
12.1.2 Financials
12.1.3 Products/Services/Offerings
12.1.4 SWOT Analysis
12.1.5 The SNS View
12.2 Be Green Packaging
12.3 DuPont
12.4 Amcor plc
12.5 Sealed Air
12.6 Mondi
12.7 DS Smith Plc
12.8 Ball Corporation
12.9 Evergreen Packaging LLC
12.10 Nampak Ltd
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share Analysis
13.3 Recent Developments
14. USE Cases and Best Practices
15. Conclusion
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