Global Green Packaging Market was valued at USD 130,540 million 2019 which is expected to reach USD 208,540 million by 2017 at a CAGR 6.12%.
Green packaging is referred as sustainable packaging that is use of implementation of manufacturing methods and packaging materials which have low impact on energy consumption and environment. Green packaging includes the usage of biodegradable and recyclable materials thus called as sustainable or energy efficient packaging.
Increase in awareness regarding environmental benefits and safety related to green packaging is expected to boost the global green packaging market growth. Also, initiatives taken by governments that support the use of green packaging will have the positive impact on global green packaging industry growth. Furthermore, increase in technological advancements inducing the development of bioplastics which is expected to propel the global green packaging market growth. For instance, in April 2015, FLEXcon had launched green glow-in-the-dark-packaging film. Green Glow-in-the-dark film offers more flexibility, lower cost, and wider width alternative to phosphorescent vinyl. Moreover, rise in reductions in the availability of natural resources giving rise to alternative methods of manufacturing which is expected to fuel the global green packaging market growth.
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However, higher operating cost associated with the recycling of green packaging is the restraining factor which is expected to hamper the global green packaging market growth. Also, lack of infrastructure and facilities will affect the global green packaging market growth.
Impact of COVID 19 on Market
The COVID 19 disease outbreak is expected to hinder the manufacturing and production of various packaging products. Increasing number of COVID 19 positive cases and deaths, many government rules and regulations across the world have implemented restrictions and announced lock down to avoid COVID 19 which have led to declining demand for manufacturing packaging products significantly resulting into restraining the packaging industry.
Global Green Packaging Market is segmented into packaging type such as Degradable Packaging, Reusable Packaging (Plastic Containers, Drums, and Others), and Recycled Content Packaging (Plastic, Metal, Glass, Paper, and Others). Further, Global Green Packaging Market is segmented into application such as Healthcare, Personal Care, and Food & Beverages.
Also, Global Green Packaging Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Market Key Players
Various key players are discussed in this report including Huhtamaki OYJ, Graham Packaging Company Incorporation, Cargill Incorporation, Sonoco Products Company, Mondi Plc, Tetra Laval International SA, Sealed Air Corporation, Bemis Company Inc, and Amcor Limited.
By Packaging Type
· Degradable Packaging
· Reusable Packaging
o Plastic Containers
· Recycled Content Packaging
· Personal Care
· Food & Beverages
· North America
· Latin America
· Asia Pacific
· Middle East & Africa
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