Green Packaging Market Strategies, Growth & Profit Analysis, Forecast by 2021

Green packaging is also referred to as sustainable packaging. In the packaging method, materials used are eco-friendly and produces no harm to environment. Also, it has low impact on energy consumption during the manufacturing procedure. Sustainable packaging material is created in an environmentally aware manner. The materials are biodegradable and recyclable in nature. Also, these material are energy efficient.

Growing concerns regarding environment is one of the key factors pushing the adoption rate of green packaging solution. The green packaging market is witnessing significant demand rate due to industrialization and urbanization.

Lots of cartoon and paper is required to pack goods. Further, the cartoon and paper is wasted. This, in turn, is wastage of resource as well as money. Hence, various manufacturing are shifting towards use of eco-friendly and recyclable packaging materials. Use of biodegradable materials for packaging eliminate the need to use chemical to eliminate contaminants that are capable of destroying water, soil and regular atmosphere of the planet.

Registering the benefits, government bodies are undertaking various initiatives favoring green packaging. The initiatives are likely to support growth of the market in coming years.

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The green packaging market is on the rise and is projected to witness a considerable growth in the near future. The growth of the market is being fueled by the advent of bioplastics, increasing environmental concerns on sustainable growth, and implementation of strict rules, regulations, policies, and mandates by the governing authorities. There has been a growing awareness among the customers who purchase luxury goods about the techniques of green packaging that make use of bioplastics as the main raw material. There are several such sectors that recognize the importance of green packaging such as personal body care, FMCG, and pharmaceutical among others. Such factors are thus expected to drive the overall growth of the global green packaging market.

A broad range of oil-based polymers are being used currently in several packaging applications. The materials are generally non-biodegradable in nature and are thus quite difficult to reuse or recycle as it carries a risk of contamination. Development of biodegradable plastics from renewable sources to tackle the disadvantages of non-biodegradable products is also an important factor for driving the growth of the global green packaging market. However, the mismatch in the ability of recycling and the amount of solid waste generated across the globe can act as a restraining factor for the market development.

Green packaging helps in cutting down greenhouse gas emissions because of its lessened reliance on traditional fossil fuels in it production. Moreover, its biodegradable nature is also an additional advantage that is helping to push its market growth. Garden waste release and land-filled organic food releases methane gas, which is used as renewable source of energy and the by-product compost can then be used to improve the quality of the soil that will have a positive impact on the overall development of the global green packaging market.

In the green packaging market, among application segment the food and beverage packaging held the largest market share. Food and beverage industries are the largest consumer of green packaging. As the demand for eco friendly packaging increases among consumers the manufacturers of food and beverage products have started adopting green packaging for their products.

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The U.S. is the largest market for green packaging because of the extensive use of eco friendly packaged products. Asia-Pacific region especially India and China offers the fastest growing market for green packaging. The population of the Asia Pacific region is large and growing considerably. The increasing population accounts for a better consumer base in this region. Food and beverage industry which constitutes the basic necessities of the growing population has better opportunity in this area and is emerging as the largest market for food and beverage in the near future. These food and beverage industries use green packaging to a great extent for packaging their products.

Thus, developing economies of Asia Pacific are expected to experience a decent growth in the demand for green packaging products during the forecast period. North America and Europe are the matured markets for green packaging and is expected to have a healthy growth in recent years.

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