Dublin, May 22, 2023 (GLOBE NEWSWIRE) -- The "Global Green Packaging Market Size, Trends and Growth Opportunity, By Type, By Application, By Region and forecast till 2030" report has been added to ResearchAndMarkets.com's offering.
The global green packaging market was valued at USD 309.39 billion in 2022 and is slated to reach USD 495.77 billion by 2030 at a CAGR of 6.09% from 2023-2030.
Companies Mentioned
- Mondi (U.K.)
- Segezha-Group. (Russia)
- Klabin S.A (Brazil)
- Billerud AB (Sweden)
- Stora Enso (Finland)
- Daio Paper construction (Japan)
- Nordic Paper (Sweden)
- Glatfelter Corporation (U.S.)
- Gascogne Papier (Austria)
- Tokushu Tokai Paper Co. Ltd. (Japan)
"Green packaging' is a method of product packaging that makes use of easily biodegradable materials and is environmentally safe. To prevent contaminating or manipulating the materials from chemical, physical, or biological sources, they must be contained. Such packaging is mostly created from renewable raw materials, which are less harmful to the environment when created, developed, and disposed of.
Market Drivers
The market is expected to grow as a result of the food and beverage industry's increasing need for biodegradable packaging. Food and beverage manufacturers are gradually integrating recyclable and reusable packaging materials to reduce packaging waste in compliance with governmental regulations.
The food and beverage industry's expanding transition to ecologically friendly packaging helps brand reputation among consumers. This is also hastening market expansion. During the forecast period, consumer awareness of the drawbacks of using non-biodegradable and single-use plastic products for product packaging is anticipated to rise, driving market growth.
The environment suffers from the extensive usage of single-use and non-biodegradable plastic packaging materials. In a landfill, plastic takes hundreds of years to decompose, harming the ecosystem and ultimately putting people, animals, and plants' lives in danger.
As a result, it is projected that throughout the forecast period, rising consumer awareness of the dangers of using plastic materials for food packaging will spur market growth.
Market Restraints
The main factor impeding the growth of the green packaging market during the forecast period is the high cost of green packaging on the market. This is mostly related to the volatility in raw material prices and the high cost of processing packaging materials for recycling.
The market's expansion in the upcoming years will also be hampered by these limitations. Another significant issue that is anticipated to limit market expansion during the forecast period is the negative consequences of chemical additives used to manufacture green packaging. In the manufacture of compostable plant fibre bowls and cups, for instance, which are used in hotels and restaurants, fluorinated chemicals are used. These fluorinated substances are toxic to the environment and non-biodegradable.
Impact of COVID-19
The movement in consumer behaviour towards sustainability has been one of the key factors driving the market for green packaging. People have started to ask for more environmentally friendly packaging solutions as they have grown more conscious of how their consumption practices affect the environment.
The epidemic has only served to heighten this tendency as people's awareness of personal cleanliness, safety, and the necessity for environmentally friendly packaging has increased.
As a result of these trends, numerous businesses have begun to invest in eco-friendly packaging options, and governments have passed laws to encourage the use of eco-friendly packaging. For instance, the Single-Use Plastics Directive of the European Union, which took effect in 2021, forbids the use of some single-use plastic goods and mandates that producers use more environmentally friendly substitutes.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 238 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $309.39 Billion |
| Forecasted Market Value (USD) by 2030 | $495.77 Billion |
| Compound Annual Growth Rate | 6.0% |
| Regions Covered | Global |
Market Segmentation
By Type
- Recyclable
- Paper
- Plastic
- Metal
- Glass
- Others
- Reusable
- Drum
- Plastic Container
- Others
- Degradable
By Application
- Food and Beverages
- Pharmaceutical
- Personal Care
- Home Care
- Shipping
- Chemicals
- Healthcare
- Others
By Region
North America
- U.S
- Canada
- Mexico
Latin America
- Brazil
- Argentina
- Colombia
- Peru
- Chile
- Venezuela
- Rest of Latin America
Europe
- Germany
- France
- UK
- Russia
- Italy
- Spain
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- New Zealand
- Singapore
- Malaysia
- Rest of Asia Pacific
Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest Middle East & Africa
For more information about this report visit https://www.researchandmarkets.com/r/b71oqt
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