Global Green Packaging Market is Expected to Reach USD 177,733.0 Million in 2018: Transparency Market Research
According to a new market report published by Transparency Market Research "Green Packaging Market (Recycled, Reusable & Degradable) - Global Scenario, Trends, Industry Analysis, Size, Share and Forecast, 2011 - 2018," the global green packaging market was worth USD 108,750.0 million in 2011 and is expected to reach USD 177,733.0 million in 2018, growing at a CAGR of 7.6% from 2013 to 2018. In the overall global market, Europeaccounted for the highest share worth USD 41,325.0 million in 2011 followed by North America, which accounted for USD 32,625.0 million in 2011. However, the highest growth in the forecasted period is expected to be witnessed in the Asia Pacificregion, especially India and China, due to large population base, economic growth and rising awareness about green products.
Key factors encouraging the move towards green packaging include growing awareness about carbon emissions, energy consumption and waste reduction targets implemented by different nations, rapidly growing economies, a dearth of natural resources, and consumers' preference for eco-friendly products. Worldwide, the waste generated because of production and transportation of packaging materials has impacted the environment considerably over the past few years. The condition is grim in the UK, where 5.91 million tonnes of packaging waste is estimated to be generated each year, representing approximately 20.1% of all waste. Manufacturers are thus continuously trying to use environmentally friendly packaging materials, which further support the growth of green packaging market.
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Europe will lead primarily in the green packaging market due to high regulatory barriers and less land for landfills. Developed countries like North America and Japan will have slow growth rate, while emerging countries like India, China andIndonesia will experience the fastest growth during the forecasted period. Reusable and degradable packaging is expected to witness high growth rate in the Asia Pacific region from 2013 to 2018.
Among the different packaging product types, recycled packaging accounts for the highest market share, growing at a CAGR of 6.9% from 2013 to 2018. North America is expected to witness slow growth in recycled packaging but high growth in reusable packaging due to high energy consumption and higher cost incurred in the production processes of recycled packaging.
Limited consumer demand, poor recycling infrastructure and regulatory concerns are the major restraints for the green packaging market; however cost-effective methods and advanced packaging technologies are likely to offset the prevailing restraints. The Asia Pacific region is likely to serve as an opportunity for the green packaging market players because of large consumer base, and growing food and beverage industries.
Some of the major players in the green packaging market are Amcor, Tetra Laval, Ball Corp., Constar International Inc., Crown Holdings, E. I. Du Pont de Nemours, EnviroPAK, NatureWorks, Plantic Technologies, Innoware Plastic, Rexam and Saint-Gobain.
This research is specially designed to estimate and analyze the demand and performance of green packaging in a global scenario. The study presents a comprehensive assessment of the stakeholder strategies' winning imperatives for them by segmenting the green packaging market as below:
- Market Segmentation by Application - Market Size and Forecast, 2011 - 2018
- Food and Beverage Packaging
- Personal Care Packaging
- Healthcare Packaging
- Other Packaging
- Market Segmentation by Packaging Type - Market Size and Forecast, 2011 - 2018
Recycled Content Packaging
- Reusable Packaging
- Plastic Containers
- Other Reusable Packaging
- Degradable Packaging
In addition the report provides a cross-sectional analysis of all the above segments with respect to the following geographical markets:
- North America
- Asia Pacific
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