Green Packaging Market to Grow at a CAGR of 6.2% from 2015-20, Predicts TMR
According to a new market report published by Transparency Market Research Green Packaging Market - Global Industry Analysis, Trend, Size, Share and Forecast 2015 - 2021”, the global green packaging market was valued at USD 132.47 billion in 2014 and is expected to reach USD 203.15 billion by 2021, growing at a CAGR of 6.2% from 2015 to 2021.
The global green packaging market is primarily driven by:
1. Increasing health awareness among consumers - Currently, consumers are becoming more conscious about their health. Toxic materials used in packaging, especially food packaging is hazardous to consumer’s health.
2. Biodegradable packaging due to its health benefits. Moreover, increasing environmental concern is also boosting the demand of green packaging globally. With increase in the environmental concern, consumers are shifting towards green packaging as they cause less environmental pollution such as land pollution, landfills and water pollution.
3. Dearth of natural resources is also contributing to the growing demand for green packaging. As the natural resources are getting exhausted the packaging material manufacturers are leaning towards green packaging as they can be easily recycled.
The green packaging market is segmented on the basis of application, packaging type and geography. The packaging type is further bifurcated into:
• Recycled content packaging
• Reusable packaging
• Degradable packaging
The various categories of recycled content packaging are paper packaging, plastic packaging, metal packaging, glass packaging and others. The reusable packaging is segmented into drums, plastic container and others. On the basis of applications, the green packaging market is segmented into food and beverage packaging, personal care packaging, health care packaging and others. By geography, the market has been segmented into North America, Europe, Asia-Pacific and Rest of the World (ROW).
Among the different packaging segments, food and beverage segment accounts for the highest market share, i.e., 59.7% in overall green packaging market. Being the largest market, growth rate of Canada and Japan is sluggish, since the market penetration of green packaging market is the highest and the market is matured. Developing countries such as India, China, Germany, Russia and Brazil are the fast growing markets for green packaging and the demand is expected to be high in the forecast period. Large food and beverage industry, rising disposable income and growing awareness about green products are the major factors fueling the demand for green packaging in these regions.
Crown holding, Tetra Laval, Amcor, E. I. Du Pont de Nemours, Ball Corp., Biopack Environmental Solutions, Constar International Inc. EnviroPAK and Bemis Company among others are some of the major players operating in green packaging market.
Source: TMR
The global green packaging market is primarily driven by:
1. Increasing health awareness among consumers - Currently, consumers are becoming more conscious about their health. Toxic materials used in packaging, especially food packaging is hazardous to consumer’s health.
2. Biodegradable packaging due to its health benefits. Moreover, increasing environmental concern is also boosting the demand of green packaging globally. With increase in the environmental concern, consumers are shifting towards green packaging as they cause less environmental pollution such as land pollution, landfills and water pollution.
3. Dearth of natural resources is also contributing to the growing demand for green packaging. As the natural resources are getting exhausted the packaging material manufacturers are leaning towards green packaging as they can be easily recycled.
The green packaging market is segmented on the basis of application, packaging type and geography. The packaging type is further bifurcated into:
• Recycled content packaging
• Reusable packaging
• Degradable packaging
The various categories of recycled content packaging are paper packaging, plastic packaging, metal packaging, glass packaging and others. The reusable packaging is segmented into drums, plastic container and others. On the basis of applications, the green packaging market is segmented into food and beverage packaging, personal care packaging, health care packaging and others. By geography, the market has been segmented into North America, Europe, Asia-Pacific and Rest of the World (ROW).
Among the different packaging segments, food and beverage segment accounts for the highest market share, i.e., 59.7% in overall green packaging market. Being the largest market, growth rate of Canada and Japan is sluggish, since the market penetration of green packaging market is the highest and the market is matured. Developing countries such as India, China, Germany, Russia and Brazil are the fast growing markets for green packaging and the demand is expected to be high in the forecast period. Large food and beverage industry, rising disposable income and growing awareness about green products are the major factors fueling the demand for green packaging in these regions.
Crown holding, Tetra Laval, Amcor, E. I. Du Pont de Nemours, Ball Corp., Biopack Environmental Solutions, Constar International Inc. EnviroPAK and Bemis Company among others are some of the major players operating in green packaging market.
Source: TMR
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