Pune, India, Nov. 17, 2021 (GLOBE NEWSWIRE) -- The global green packaging market volume is expected to gain momentum by reaching USD 385.34 billion by 2028. Fortune Business Insights™ in its report titled, “Green Packaging Market, 2021-2028.”, mentions that the market stood at USD 258.35 billion in 2020 and is projected to exhibit a CAGR of 5.3% between 2021 and 2028. The increasing focus on adopting recycled content packaging is expected to boost the demand for sustainable green packaging across the globe.
Key Market Segments:
We have segmented the market based on type, application, and region. On the basis of type, the market is segregated into recycled content packaging, reusable packaging, and degradable packaging. Based on application, the market is divided into food & beverages, consumer products, shipping, chemicals, and others. Lastly, based on region, the market is categorized into North America, Asia-Pacific, Europe, the Middle East and Africa, and Latin America.
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List of the Companies Operating in the Global Green Packaging Market:
- Amcor Limited (Zürich, Switzerland)
- Ardagh Group SA (Dublin, Ireland)
- Ball Corporation (Broomfield, Colorado, United States)
- Braskem SA (São Paulo, State of São Paulo, Brazil)
- Caraustar Industries Incorporated (Austell, GA, United States)
- Cargill Incorporated (Wayzata, Minnesota, United States)
- Cascades Incorporated (Kingsey Falls, Canada)
- Other Key Players
DRIVING FACTORS
Increasing Focus on Adoption of Recycled Packaging Content to Stoke Demand
Several companies are coming with innovative solutions to tackle the growing menace of plastic that is leading to the degradation of the environment. For instance, the Colgate-Palmolive Company had undertaken a strong stance on the rising plastic disposal problem by announcing the company’s 2020 goal to increase recycled plastic content in their packaging. The company reports that by 2050 it will inculcate 75% of the recycled content in its production processes. Therefore, the increasing focus on adopting innovative recycled packaging content is expected to contribute to the global green packaging market growth in the forthcoming years.
Report Aim & Scope:
- An overview of the market based on geographical scope, segmentation and financial performance of key players is presented in the report.
- The report presents the estimated market size by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
- Based on various indicators, the Year on Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
- The report presents current trends in the industry and future scope of the market in North America, Asia Pacific, Europe, Latin America and Europe.
- The various parameters accelerating the growth of the market are incorporated in the research report.
- The report analyzes growth rate, market size and valuation of the market during the forecast period.
Browse Summary of this Research Report:
https://www.fortunebusinessinsights.com/green-packaging-market-105113
Product Innovation by Major Companies to Strengthen Their Market Positions
The global market for green packaging is fragmented by the presence of major companies incorporating proactive strategies such as developing innovative solutions to gain a competitive edge over their rivals. Additionally, other key players are adopting organic and inorganic strategies to maintain their presence in the market during the forecast period.
Further Report Findings:
- Asia-Pacific is expected to hold the highest position in the global green packaging market during the forecast period. This is attributable to the presence of established sustainable packaging solutions manufacturers in countries such as India and China in the region. Asia-Pacific stood at USD 99,464.93 million in 2020.
- The market in Europe is expected to showcase considerable growth backed by the increasing focus on R&D activities by companies such as Mondi Plc and Tetrapak to develop innovative green packaging solutions in the region between 2021 and 2028.
- Based on application, the food & beverage segment is expected to experience exponential growth during the forecast period. This is ascribable to factors such as the increasing geriatric population globally driving the demand for convenience food products.
Industry Development:
February 2021 – The Coca-Cola Company announced its transition towards 100% recycled PET bottles from a selection of plastic bottles. The company reports that it will be unveiling a new sip-size bottle for its brands such as Fanta and Sprite to make forays into sustainable packaging solutions.
Major Table of Content
1. Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
3.4. Emerging Trends
4. Key Insights
4.1. Key Emerging Trends – For Major Countries
4.2. Industry SWOT Analysis
4.3. Regulatory Analysis
4.4. Recent Industry Developments - Policies, Partnerships, New Types Launches, and Mergers & Acquisitions
5. Qualitative Insights – Impact of COVID-19 on Global Green Packaging Market
5.1. Supply Chain Challenges
5.2. Steps taken by Government/Companies to overcome this impact
5.3. Potential opportunities due to COVID-19 outbreak
6. Global Green Packaging Market Analysis, Insights and Forecast, 2017-2028
6.1. Key Findings / Summary
6.2. Market Size Estimates and Forecast
TOC Continued….!
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