New York, NY, Oct. 03, 2023 (GLOBE NEWSWIRE) -- Polaris Market Research has published a new research report titled “Green Packaging Market Share, Size, Trends, Industry Analysis Report, By Packaging Type (Recycled, Reusable, Degradable); By Application (Food & Beverages, Personal Care, Healthcare, Others); By Region, And Segment Forecasts, 2023 - 2032” in its research database.
“As per the latest research analysis, the global green packaging market size/share will be valued at roughly USD 307.27 Billion in 2022, and its revenue is projected to reach about USD 564.72 Billion By 2032. The market is forecasted to expand at a compound annual growth rate of approximately 6.3% between 2023 and 2032.”
What is Green Packaging? How Big is Green Packaging Market Size & Share?
- Overview
Green packaging, sometimes referred to as eco-friendly packaging or sustainable packaging, describes packaging designs that have the least negative influence on the environment. By reducing the amount of packaging waste produced, utilizing more sustainable materials, and utilizing renewable energy during production, they are able to accomplish this.
Plant-based materials, paper, recycled materials, and other biodegradable or compostable materials are some examples of regularly used sustainable materials in green packaging. The green packaging market is expanding and has advantages beyond lowering carbon footprints. Additionally, they support the circular economy, cut down on waste production, and save natural resources. Businesses can utilize fewer non-renewable resources and use less energy during production by utilizing renewable materials and improving packaging designs.
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Our Sample Report Covers:
- 2032 Updated Report, Analysis Overview, and In-depth industry analysis.
- 110+ Pages Research Report (Inclusion of Updated Research).
- Provide Chapter-wise guidance on Requests.
- 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
- Includes Updated List of tables & figures.
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.
Some of the Top Market Leaders Are:
- DS Smith
- Amcor
- Be Green Packaging
- DuPont
- Mondi
- Nampak
- Ball Corporation
- Evergreen Packaging
- Sealed Air
- Tetra Laval
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Green Packaging Market: Report Scope
| Report Attribute | Details |
| Revenue Forecast in 2032 | USD 564.72 Billion |
| Market size value in 2023 | USD 326.14 Billion |
| Expected CAGR Growth | 6.3% from 2023 – 2032 |
| Base Year | 2022 |
| Forecast Year | 2023 – 2032 |
| Top Market Players | DS Smith, Amcor, Be Green Packaging, DuPont, Mondi, Nampak, Ball Corporation, Evergreen Packaging, Sealed Air, and Tetra Laval |
| Segments Covered | By Packaging Type, By Application, By Region |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options |
Prominent Growth Driving Factors
- Increased awareness: Green packaging solutions have become more popular in the U.S. due to growing consumer awareness of the negative environmental effects of single-use plastic products. In order to satisfy consumer demand and solve environmental concerns, many manufacturers and suppliers have started giving sustainable packaging choices priority, increasing the green packaging market demand.
- Government regulations and policies: In order to combat plastic packaging waste and encourage the use of green packaging solutions, the U.S. government has put in place strict restrictions and standards. The country's green packaging business has benefited from these policies, which have prompted suppliers and manufacturers to give sustainable packaging methods top priority.
- Adoption of green packaging solutions: The adoption of green packaging options is actively encouraged in the U.S. through numerous programs and projects. The Green Seal initiative for sustainable packaging solutions is one such instance. From this program, manufacturers and producers in both commercial markets are encouraged to switch to packaging made from recycled material. The program hopes to lessen the amount of plastic trash that ends up in landfills and encourage a more circular economy by encouraging the use of recycled materials in packaging.
Top Findings of the Report
- The implementation of stringent government laws and consumer awareness of environmental issues are key factors influencing the development of green packaging solutions.
- The green packaging market segmentation is primarily based on application, type, and region.
- North America dominated the market in 2022.
Recent Developments
- Sealed Air completed the purchase of Liquibox in February 2023. To address the rising demand for green packaging, it is anticipated that this company will increase the range of products it offers to the food and beverage sector.
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Top Trends Influencing the Market
- Reducing plastic packaging waste: A U.S.-based packaging company called Returnity Innovations is actively attempting to lessen the amount of plastic packaging trash that ends up in landfills. They provide a selection of environmentally friendly packaging options, such as poly-mailer bags, clothing bags, and other reusable packaging items. These substitutes aid in the substitution of single-use plastics with more ecologically friendly materials, hence minimizing the total impact on the environment.
- Sustainable packaging practices: The SPC is an environmental group that promotes eco-friendly packaging strategies and offers tools and advice to businesses looking to employ eco-friendly packaging options. To promote innovation and promote the use of sustainable packaging, the coalition works in partnership with corporations, governmental organizations, and other stakeholders.
Key Segmental Analysis
- Recycled Sector Accounts for the Largest Share
Paper, glass, metal, plastic, and other materials all fall under the category of recycled content packaging, and they all help to create environmentally friendly packaging options. High-density polyethylene (HDPE) and polyethylene terephthalate (PET), two recycled polymers, are frequently used in a variety of packaging materials, including bottles, pouches, and containers. These recovered plastics have a number of benefits, including being more affordable than other recycled materials.
Moreover, improvements in recycling technologies and growing demand for green packaging market are likely to drive further investment and innovation in recycled content packaging across different industries.
- Food and Beverage Sector Holds Significant Share
Consumer preferences for ecologically friendly products are driving an increase in green packaging market size in the food and beverage industry. Fast food establishments, frozen goods, restaurants, beverages, dairy products, and even pet food products have begun to adopt environmentally friendly packaging solutions such as compostable packaging and molded pulp. Examples of food and beverage businesses that have used sustainable packaging options as part of their sustainability goals include Burger King and Starbucks Coffee Company.
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Geographical Overview
Europe: The use of green packaging practices has been prompted by the increased emphasis on sustainability and environmental responsibility in Europe. Bioplastics, made from renewable resources like sugarcane or maize starch, have become very popular in the area. In comparison to conventional plastics, these bioplastics offer better biodegradability and lower carbon emissions. They are used in food packaging, shopping bags, and other contexts where plastic is frequently used.
Asia Pacific: With a strong CAGR over the predicted period, the green packaging market in Asia Pacific region is likely to experience the quickest growth. To address the issues caused by solid waste disposal and dumping, the Chinese government has adopted rules and laws such as the Prevention and Control of Environmental Pollution by Solid Wastes. These rules limit the improper disposal of solid wastes and promote the use of eco-friendly waste management techniques, such as green packaging.
Browse the Detail Report “Green Packaging Market Share, Size, Trends, Industry Analysis Report, By Packaging Type (Recycled, Reusable, Degradable); By Application (Food & Beverages, Personal Care, Healthcare, Others); By Region, And Segment Forecasts, 2023 - 2032” with in-depth TOC: https://polarismarketresearch.com/industry-analysis/green-packaging-market
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Polaris Market Research has segmented the green packaging market report based on packaging type, application, and region:
By Type Outlook
- Recycled Content Packaging
- Paper
- Plastic
- Metal
- Glass
- Others
- Reusable Packaging
- Drum
- Plastic Container
- Others
- Degradable Packaging
By Application Outlook
- Food & Beverages
- Personal Care
- Healthcare
- Others
By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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