SEATTLE, November 30, 2021 / PRNewswire / – According to Coherent Market Insights, the green packaging market is estimated to represent 410.45 billion in value and by the end of 2027 will witness a 6.71% CAGR.
Green packaging is the design and use of sustainable packaging. This includes an increased use of life cycle assessment and life cycle analysis to help guide the use of green packaging that minimizes the environmental impact and environmental footprint of users, and promotes a sustainable social, economic and corporate performance. It also requires the use of eco-friendly products and eco-friendly package creation and shipping methods. Green packaging has been associated with a variety of different strategies, including reducing product consumption, creating user-friendly and cost-effective packaging, and using and reusing resources.
The growing demand for sustainable packaging materials and practices has led to the need for consumers to be educated about the benefits and advantages of green shopping. Consumers are increasingly aware of their consumption of resources and their impact on the environment. With the increased levels of disposable income available to most consumers today, they are looking for ways to save money in every way possible. In addition to this, the growing popularity of Green products, like reusable bags, has helped consumers feel they are making a difference in the environment. In addition, consumers are looking for environmentally friendly and sustainable packaging materials that positively contribute to a better quality of life.
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Development and launch of sustainable packaging solutions is expected to propel the growth of the global green packaging market during the forecast period. For example, in September 2020, Sabic, a supplier of diversified chemicals, has launched a sustainable packaging solution for frozen foods, which combines a new grade of polyethylene with a solution based on a TF-BOPE mono-web film structure, with a thickness of of only 20 micrometers.
Moreover, the increasing adoption of alternatives to plastic is also expected to contribute to the growth of the market. For example, in december 2019, Amazon, the US-based multinational technology company, has replaced plastic packaging materials, such as bubble wrap and air cushions, with “paper cushions” in its packaging.
The increasing adoption of recyclable packaging is expected to provide lucrative growth opportunities for players in the global market. green packaging market. For example, in January 2021, Nestlé, the Swiss multinational food and beverage processing company Conglomerate Corporation, has announced that its popular Smarties brand now uses recyclable paper packaging for its confectionery products around the world.
In addition, increased funding for durable plastic packaging is also expected to propel market growth. For example, in december 2020, UK Research and Innovation (UKRI) announced US $ 35.25 million value of funding for projects that improve plastic packaging throughout the retail supply chain.
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The cosmetic packaging industry is witnessing the R&D of sustainable products. For example, in december 2020, Aptar Beauty + Home, has announced the production of its most popular 100% PCR (Post Consumer Resin) spray pumps for the overhaul of the natural pet care brand WildWash.
The major players operating in the global green packaging market are focusing on the development and launch of new products to expand their product portfolio. For example, in September 2020, KM Packaging has launched a new range of lidding films in monopolymer material, made from polypropylene (PP) and designed to be recyclable. The durable films seal and peel on PP and PE-lined PP trays and can be used during microwave cooking while being suitable for ambient, refrigerated or frozen applications.
The major players operating in the global green packaging market are Amcor Limited, Bemis Company Inc., Cargill Incorporation, Graham Packaging Company Incorporation, Huhtamaki OYJ, Mondi Plc., Sonoco Products Company, Sealed Air Corporation and Tetra Laval International SA.
The major players operating in the global green packaging market are focused on launching new products to expand their product portfolio. For example, in October 2021, IndiaAjit Industries has launched a wide range of environmentally friendly packaging products designed to replace traditional plastic-based packaging products.
Market segmentation :
- A glass
By type of process
- Recycled content packaging
- Reusable packaging
- Degradable packaging
By type of packaging
- Plastic wrap
- Metal packing
- A glass
By end-use industry
- Food and drinks
- Health care
Global Green Packaging Market, By Region:
- North America
- By country:
- Rest of Europe
- Asia Pacific
- By country:
- South Korea
- Rest of Asia Pacific
- Latin America
- By country:
- Rest of Latin America
- Middle East & Africa
- By country:
- GCC countries
- South Africa
- Rest of Middle East & Africa
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Below are other trend reports:
Beverage Packaging Market, by product type (bottles, cans, liquid cartons, sachets / sachets and others), by application (alcoholic drinks (beer and other alcoholic drinks) and non-alcoholic drinks (dairy products, soft drinks / soda, juice / soft drinks, bottled water and energy drinks / RTD drinks)), by region (North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, Middle East & Africa) – Analysis of size, share, outlook and opportunities, 2021 – 2028
Protective packaging market, By product type (foam plastic, paper, plastic) Material type (foam protective packaging, flexible protective packaging, rigid protective packaging), by function type (packaging, vacuum filling, insulation, padding, blocking and bracing), by region (North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan and MEA) – Size, Share, Outlook and Opportunity Analysis, 2021 – 2028
Cosmetic packaging market, by type of material (glass, paper, plastic, metal and others), type of container (jars, tubes, bottles, pumps and dispensers, sachets and others), application (skin care, hair care, makeup and Manicure), Declared Capacity ((less than 50ml, 50ml-100ml, 100ml-150ml, 150ml-200ml, above 200ml) and by region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa) – Size, Share, Outlook and Opportunity Analysis, 2020 – 2027
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