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Green Packaging Market Report

RA08577

Green Packaging Market by Type (Recyclable, Reusable, and Degradable), Application (Food & Beverages, Pharmaceuticals & Healthcare, and Chemical), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2021-2028

RA08577

Pages: 190

Mar 2022

COVID-19

pandemic has shown to have an enormous impact on most
industries.

Click Here to access our comprehensive analysis of the

Impact of covid-19 on Green Packaging Market

Global Green Packaging Market Analysis

The global green packaging market was valued at $267.5 billion in 2020 and is projected to reach $451.7 billion by 2028, registering a CAGR of 7.0%.

Market Synopsis

Increased awareness among people about the benefits of green packaging on the environment is expected to drive the green packaging market size growth in the forecast time period.

However, high cost of green packaging for products is likely to restrain the green packaging market share growth.

According to the regional analysis of the market, the Asia-Pacific green packaging market is anticipated to grow at a CAGR of 7.8%, by generating a revenue of $112.5 billion during the review period.

Green Packaging Overview

Green packaging is also known as sustainable packaging. Packaging is the most important feature of the finished goods as it helps in protecting the quality and texture of products. Sustainable packaging includes recycled or reused packaging which helps in reducing waste and energy.

COVID-19 Impact on the Global Green Packaging Market

The occurrence of COVID-19 pandemic has proved to have a moderate impact on green packaging market size growth. As the impact of COVID-19 pandemic has had a severe impact on the health and wellbeing of the people across the world, the fear of infection and its severe symptoms have settled in the patients. Amid high rate of corona virus transmission and prevalence of serious symptoms, government had imposed lockdown, worldwide, due to which many industries stopped their manufacturing units. Thus, the requirement of green packaging material for product packaging decreased severely. This factor has decreased the green packaging market share growth in the pandemic year.    However, green packaging market also experienced a positive growth in the COVID-19 pandemic period. During pandemic, people shifted their shopping preference towards online shopping. E-commerce generally uses paper-based packaging for delivering products. This factor is likely to flourish the market growth in the pandemic time period.

Increasing Knowledge about Importance of Green Packaging to Surge the Market Growth

Rapidly growing knowledge about the benefits of green packaging among consumers is expected to accelerate the green packaging market share growth in the forecast time period. Green packaging is a sustainable form of packaging which not only reduces packaging waste accumulation but also helps in reducing greenhouse gas thus, protecting environment. Apart from this, introduction of biodegradable packaging materials such as bioplastics and biopolymers for packaging of various products like food and beverages by the companies is further anticipated to generate huge green packaging market size growth in the predicted time period.

To know more about global green packaging market drivers, get in touch with our analysts here.

High Cost of Green Packaging to Restrain the Market Growth

Green packaging used for product packaging is very expensive. This is mainly due to high processing cost of recycled products. Thus, not many industries, especially in the developing nations, can afford such high green packaging cost. This factor is likely to hinder the green packaging market share growth of the next few years. Also, not many people, like in rural areas of developing countries, are aware about the availability of sustainable and environment friendly packaging solutions in the market. Thus, this factor is further expected to impede the market growth in the predicted time period.

Sustainable Packaging of Product by Major Companies to Fuel the Market Growth

Owing to the strict regulations set by the government to use sustainable packaging for their products packaging, the industries have now started focusing on the use of recycled packaging materials. For instance, according to a report published on the official site of Amcor Plc, a packaging company, on November 18, 2021, the company claimed that 86% of all its products can be recycled after use. Also, by their sustainable packaging approach, they rose their product sales by 76% in last few years. Such factors are estimated to register a huge green packaging market share growth in the coming years.

To know more about global green packaging market opportunities, get in touch with our analysts here.

Green Packaging Market
By Type

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The global green packaging market by type is segmented into Recyclable, reusable, and degradable. Recyclable sub-segment is projected to generate both maximum revenue and register the fastest growth. Download PDF Sample Report

Source: Research Dive Analysis

The recyclable green packaging sub-segment is predicted to have the highest revenue in the global market and register a revenue of $275.4 billion during the forecast period. Recycled packaging products have become very popular due to their advantages including biodegradability. This factor is likely to surge the sub-segment market growth in the future. Also, recycling of packaging waste reduces energy wastage and environmental pollution which is further anticipated to promote green packaging market share growth in the next few years.

Green Packaging Market
By Application

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The global green packaging market by application is segmented into food & beverages, pharmaceuticals & healthcare, personal care, and others. Food & beverages sub-segment is projected to generate both maximum revenue and register fastest growth.

Source: Research Dive Analysis

The food & beverages sub-segment is predicted to have a dominating market share in the global market and register a revenue of $261.8 billion during the forecast period. The sub-segment growth is owing to continuously growing food & beverages industry across the world. As the industry is growing rapidly, the demand for recyclable food packaging has increased to reduce the amount of waste produced by the food companies. Such factors are likely to flourish the market growth in the future.

Green Packaging Market
By Region

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The green packaging market was investigated across North America, Europe, Asia-Pacific, and LAMEA.

Source: Research Dive Analysis

The Market for Green Packaging in Europe to be the Most Dominant

The Europe green packaging market accounted $93.9 billion in 2020 and is projected to register a revenue of $157.6 billion by 2028. The growth is attributed to market penetration of green packaging products in the region by major market players like Amcor. Also, strict rules made by the government to increase the use of green or sustainable packaging for the products are further anticipated to accelerate the growth of the market in the forecast years.

The Market for Green Packaging in Asia-Pacific to Observe Fastest Growth

The Asia-Pacific green packaging market is expected to observe the fastest growth and register a revenue of $112.5 billion in the predicted time span. The growth of the region is subjected to rapidly increasing knowledge about the importance of sustainable packaging solutions for products and role of recycled packaging in reducing waste landfills. Also, government is constantly promoting the green packaging concept in the developing countries like India to aware people about the uses of recycled packaging. These factors are likely to flourish the green packaging market growth in the next few years.

Competitive Scenario in the Global Green Packaging Market

Product launches and acquisitions are common strategies followed by major market players.

Competitive Scenario in the Global Green Packaging Market

Source: Research Dive Analysis

The companies involved in the green packaging market are Amcor Limited, E. I. DuPont de Nemours and Company, Mondi Limited, Sealed Air Corporation, TetraPak International S.A., Ardagh Group Co., PlastiPak Holdings, Inc., Bemis Company, Inc., Uflex limited, and ELOPAK AS.

Porter’s Five Forces Analysis for the Global Green Packaging Market

  • Bargaining Power of Suppliers: The suppliers in the green packaging market are growing in number. Thus, they have to provide best quality products at an optimum price range to attract customers.
    Thus, the bargaining power suppliers is moderate.
  • Bargaining Power of Buyers: Buyers are growing in number and have huge bargaining power. Since the suppliers are growing in the market, the buyers have a high choice to select the best product in their range.
    Thus, the bargaining power of the buyers is high.
  • Threat of New Entrants: New companies entering the green packaging market are adopting new green packaging techniques in the market in minimum period. 
    Thus, the threat of the new entrants is high.
  • Threat of Substitutes: Since green packaging is a substitute to harmful packaging materials, there are no threats of substitute.
    Thus, the threat of substitutes is low.
  • Competitive Rivalry in the Market: The competitive rivalry among industry leaders is rather intense, especially between the global players. These companies are launching their new green packaging products in the international market and strengthening the footprint worldwide. 
    Therefore, competitive rivalry in the market is high.

Aspect

Particulars

  Historical Market Estimations

  2019-2020

  Base Year for Market Estimation

  2020

  Forecast Timeline for Market Projection

  2021-2028

  Geographical Scope

  North America, Europe, Asia-Pacific, LAMEA

  Segmentation by Type

  • Recyclable
  • Reusable
  • Degradable

  Segmentation by Application

  • Food & Beverages
  • Pharmaceuticals & Healthcare
  • Personal Care
  • Others

  Key Companies Profiled

  • Amcor Limited
  • E. I. DuPont de Nemours
  • Mondi Limited
  • Sealed Air Corporation
  • TetraPak International S.A
  • Ardagh Group Co.
  • PlastiPak Holdings, Inc.
  • Bemis Company, Inc.
  • Uflex limited
  • ELOPAK AS.

Frequently Asked Questions
 

A. Green packaging is a sustainable form of packaging used for product packaging by the companies.

A. 3 different types of green packaging are recyclable, reusable, and degradable.

A. The global green packaging market was valued at $267.5 billion in 2020, and is projected to reach $451.7 billion by 2028, registering a CAGR of 7.0%

CHAPTER 1:INTRODUCTION

1.1.Research methodology
1.1.1.Desk research
1.1.2.Real-time insights and validation
1.1.3.Forecast model
1.1.4.Assumptions & forecast parameters

1.1.4.1.Assumptions
1.1.4.2.Forecast parameters

CHAPTER 2:EXECUTIVE SUMMARY

2.1.360° summary
2.2.Type trends
2.3.Application trends

CHAPTER 3:MARKET OVERVIEW

3.1.Market definition and scope
3.2.Key takeaways

3.2.1.Top investment pockets
3.2.2.Top winning strategies
3.2.2.1.Top winning strategies, by year
3.2.2.2.Top winning strategies, by development
3.2.2.3.Top winning strategies, by company

3.3.Porter's five forces analysis
3.4.Market dynamics
3.5.Drivers

3.5.1.Rising awareness about importance of waste management to drive the market

3.6.Restraints

3.6.1.High prices of Green Packaging Applications to restrain the market growth

3.7.Opportunities

3.7.1.New green packaging solution launches by the manufacturing companies to surge the market growth

3.8.Regulatory landscape
3.9.Patent landscape
3.10.Market value chain analysis
3.11.Strategic overview

CHAPTER 4:IMPACT OF COVID19 ON GLOBAL GREEN PACKAGING MARKET

4.1.Introduction
4.2.COVID-19 health assessment
4.3.Impact of COVID-19 on the global economy
4.4.Impact of COVID-19 on global Green Packaging market

4.4.1.Technological impact
4.4.2.Investment scenario

4.5.Green Packaging Marketsize and forecast, by region, 2021-2028

CHAPTER 5:GLOBAL GREEN PACKAGING MARKET, BY TYPE

5.1.Overview

5.1.1.Market size and forecast, by type

5.2.Recyclable
5.2.1.Key market trends, growth factors and opportunities
5.2.2.Market size and forecast, by Recyclable
5.2.3.Market share analysis, by country

5.3.Reusable

5.3.1.Key market trends, growth factors and opportunities
5.3.2.Market size and forecast, by region
5.3.3.Market share analysis, by country

CHAPTER 6:GLOBAL GREEN PACKAGING MARKET, BY APPLICATION

6.1.Overview

6.1.1.Market size and forecast, by Application

6.2.Food & Beverages

6.2.1.Key market trends, growth factors and opportunities
6.2.2.Market size and forecast, by region
6.2.3.Market share analysis, by country

6.3.Pharmaceuticals & Healthcare

6.3.1.Key market trends, growth factors and opportunities
6.3.2.Market size and forecast, by region
6.3.3.Market share analysis, by country

6.4.Personal Care

6.4.1.Key market trends, growth factors and opportunities
6.4.2.Market size and forecast, by region
6.4.3.Market share analysis, by country

6.5.Others

6.5.1.Key market trends, growth factors and opportunities
6.5.2.Market size and forecast, by region
6.5.3.Market share analysis, by country

CHAPTER 7:GLOBAL GREEN PACKAGING MARKET, BY REGION

7.1.Overview

7.1.1.Market size and forecast, by region

7.2.North America

7.2.1.Key market trends, growth factors, and opportunities
7.2.2.Market size and forecast, by Type
7.2.3.Market size and forecast, by Application
7.2.4.Market size and forecast, by country

7.2.5.U.S. 

7.2.5.1.Market size and forecast, by Type
7.2.5.2.Market size and forecast, by Application

7.2.6.Canada

7.2.6.1.Market size and forecast, by Type
7.2.6.2.Market size and forecast, by Application

7.2.7.Mexico

7.2.7.1.Market size and forecast, by Type
7.2.7.2.Market size and forecast, by Application

7.3.Europe

7.3.1.Key market trends, growth factors, and opportunities
7.3.2.Market size and forecast, by Type
7.3.3.Market size and forecast, by Application
7.3.4.Market size and forecast, by country

7.3.5.Germany

7.3.5.1.Market size and forecast, by Type
7.3.5.2.Market size and forecast, by Application

7.3.6.UK

7.3.6.1.Market size and forecast, by Type
7.3.6.2.Market size and forecast, by Application

7.3.7.France

7.3.7.1.Market size and forecast, by Type
7.3.7.2.Market size and forecast, by Application

7.3.8.Italy

7.3.8.1.Market size and forecast, by Type
7.3.8.2.Market size and forecast, by Application

7.3.9.Russia

7.3.9.1.Market size and forecast, by Type
7.3.9.2.Market size and forecast, by Application

7.3.10.Rest of Europe

7.3.10.1.Market size and forecast, by Type
7.3.10.2.Market size and forecast, by Application

7.4.Asia-Pacific

7.4.1.Key market trends, growth factors, and opportunities
7.4.2.Market size and forecast, by Type
7.4.3.Market size and forecast, by Application
7.4.4.Market size and forecast, by country

7.4.5.China

7.4.5.1.Market size and forecast, by Type
7.4.5.2.Market size and forecast, by Application

7.4.6.Japan

7.4.6.1.Market size and forecast, by Type
7.4.6.2.Market size and forecast, by Application

7.4.7.Singapore

7.4.7.1.Market size and forecast, by Type
7.4.7.2.Market size and forecast, by Application

7.4.8.South Korea

7.4.8.1.Market size and forecast, by Type
7.4.8.2.Market size and forecast, by Application

7.4.9.India

7.4.9.1.Market size and forecast, by Type
7.4.9.2.Market size and forecast, by Application
7.4.10.Rest of Asia-Pacific
7.4.10.1.Market size and forecast, by Type
7.4.10.2.Market size and forecast, by Application

7.5.LAMEA

7.5.1.Key market trends, growth factors, and opportunities
7.5.2.Market size and forecast, by Type
7.5.3.Market size and forecast, by Application
7.5.4.Market size and forecast, by country

7.5.5.Latin America

7.5.5.1.Market size and forecast, by Type
7.5.5.2.Market size and forecast, by Application

7.5.6.Middle East

7.5.6.1.Market size and forecast, by Type
7.5.6.2.Market size and forecast, by Application

7.5.7.Africa

7.5.7.1.Market size and forecast, by Type
7.5.7.2.Market size and forecast, by Application

CHAPTER 8:COMPANY PROFILES

8.1.Amcor Plc

8.1.1.Company overview
8.1.2.Company snapshot
8.1.3.Operating business Segments
8.1.4.Application portfolio
8.1.5.Business perTypeance
8.1.6.Key strategic moves and developments

8.2.Be Green Packaging

8.2.1.Company overview
8.2.2.Company snapshot
8.2.3.Application portfolio
8.2.4.Key strategic moves and developments

8.3.Mondi

8.3.1.Company overview
8.3.2.Company snapshot
8.3.3.Operating business Segments
8.3.4.Product portfolio
8.3.5.Business perTypeance
8.3.6.Key strategic moves and developments

8.4.DS Smith

8.4.1.Company overview
8.4.2.Company snapshot
8.4.3.Operating business Segments
8.4.4.Application portfolio
8.4.5.Business Performance

8.5.Evergreen Packaging

8.5.1.Company overview
8.5.2.Company snapshot
8.5.3.Operating business Segments
8.5.4.Application portfolio
8.5.5.Business Performance

8.6.Tetra Laval

8.6.1.Company overview
8.6.2.Company snapshot
8.6.3.Operating business Segments
8.6.4.Application portfolio
8.6.5.Business Performance

8.7.Go Green Packaging

8.7.1.Company overview
8.7.2.Company snapshot
8.7.3.Application portfolio
8.7.4.Key strategic moves and development

8.8.Econovous Packaging Pvt Ltd

8.8.1.Company overview
8.8.2.Company snapshot
8.8.3.Operating business segments
8.8.4.Application portfolio
8.8.5.Key strategic moves and developments

8.9.PackMile Pvt Ltd. 

8.9.1.Company overview
8.9.2.Company snapshot
8.9.3.Operating business segments
8.9.4.Application portfolio
8.9.5.Key strategic moves and developments

8.10.Paperfoam

8.10.1.Company overview
8.10.2.Company snapshot
8.10.3.Operating business segments
8.10.4.Application portfolio
8.10.5.Key strategic moves and developments

Green packaging, also called sustainable packaging, refers to using reusable, compostable, biodegradable, or similar eco-friendly packaging materials to pack and ship products. Apart from this, recycling of packaging materials or adhering to manufacturing processes that minimize environmental pollution also come under the ambit of green packaging practices. Green packaging, due to its very nature, helps in reducing environmental waste and pollution substantially.

Forecast Analysis

The effects of climate change and global warming are becoming increasingly devasting with each passing year. As a result, there has been an increased awareness regarding the need to adopt sustainable and eco-friendly practices in all walks of life. This increasing awareness regarding environment-friendly practices is expected to be the primary growth driver of the green packaging market in the coming years. Along with this, increasing knowledge about green packaging and its associated benefits is predicted to boost the market. Also, major companies and businesses have started packaging their products using green packaging materials and methods. This is anticipated to offer numerous growth opportunities to the market in the 2021-2028 timeframe. However, high costs associated with green packaging is expected to create hurdles in the growth of green packaging market.

Regionally, the green packaging market in the Asia-Pacific region is expected to have the fastest growth rate and garner a revenue of $112.5 billion by 2028. Growing awareness and knowledge about green and sustainable packaging practices is expected to be the leading growth factor of the market in this region. Moreover, government initiatives and schemes, like the one started by the Government of India, to promote green packaging practices is expected to further boost the green packaging market in the Asia-Pacific region.

As per the report published by Research Dive, the global green packaging market is expected to gather a revenue of $451.7 billion by 2028 and grow at 7.0% CAGR in the 2021–2028 timeframe. Some prominent market players include Amcor Limited, Ardagh Group Co., Sealed Air Corporation, E. I. DuPont de Nemours and Company, PlastiPak Holdings, Inc., Mondi Limited, Bemis Company, Inc., ELOPAK AS, TetraPak International S.A., Uflex limited, and many others.

Covid-19 Impact on the Green Packaging Market

The outbreak of the Covid-19 pandemic has had a massive negative effect on almost all industries and businesses across the world. This negative impact on industries and businesses is mainly due to the lockdowns and travel restrictions which were imposed by several countries across the world, owing to which many manufacturing processes and global supply chains were hampered. Even the green packaging market has faced severe consequences due to this. As manufacturing processes were stopped, the demand for packaging materials drastically declined which, in turn, restricted the growth rate of the market. However, a ray of hope was provided by e-commerce websites which operated during the pandemic period also, and hence provided the much-needed demand for green and sustainable packaging materials.

Significant Market Developments:

The significant companies operating in the industry are adopting numerous growth strategies & business tactics such as partnerships, collaborations, mergers & acquisitions, and launches to maintain a robust position in the overall market, thus helping the green packaging market to flourish. For instance:

In August 2021, Nefab Group, an industrial packaging provider, and Corruven Inc., a Canada-based protective packaging company, jointly launched FiberFlute, a sustainable packaging product that minimizes environmental waste and pollution. With this product launch, both the collaborating companies are set to expand their footprint in the sustainable packaging market in the near future.

In September 2021, Huhtamaki, a Finland-based food packaging company, announced the acquisition of Elif, a leading supplier of sustainable packaging solutions. The acquisition will help Huhtamaki massively in its aim to expand the business globally and cater to a large customer base, so as to increase its market share in the coming years.

In February 2022, Hewlett-Packard (HP), an American multinational technology giant, announced the acquisition of Choose Packaging, a plastic-free packaging solutions provider. With this acquisition, HP has announced its grand entry in the green packaging market and in the coming years, it will look to consolidate its position in the market with similar business deals.

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