Green Packaging Market Size
|Study Period||2018 - 2028|
|Market Size (2023)||USD 262.27 Billion|
|Market Size (2028)||USD 381.98 Billion|
|CAGR (2023 - 2028)||7.81 %|
|Fastest Growing Market||Asia Pacific|
|Largest Market||North America|
*Disclaimer: Major Players sorted in no particular order
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Green Packaging Market Analysis
The Green Packaging Market size is expected to grow from USD 262.27 billion in 2023 to USD 381.98 billion by 2028, at a CAGR of 7.81% during the forecast period (2023-2028).
Increasing Awareness About Environmental Concerns Among Consumer Industries and Stringent Government Regulations drive the market.
- The rising food and beverage industry, embracing packaging produced from recyclable and biodegradable materials at a constant rate, has severe limits on the use of single-use plastics. Increased consumer awareness of sustainable packaging contributes to this trend.
- Also, packaging contributes to the high costs of goods and trash disposal. For example, out of every USD 10 spent on commodities, USD 1 goes toward the cost of the packaging. That's 10% of consumer spending going toward packaging, which will eventually end up in the garbage.
- Furthermore, the issues above are putting pressure on regulators, end-user businesses, and packaging firms to find a replacement that will reduce the environmental impact of packaging and provide sustainable and environmentally friendly packaging solutions, causing the market for green packaging to expand.
- However, changing regulatory standards, fluctuating raw material costs, increasing waste volumes, and rising environmental waste regulations have expected to hinder the market growth during the forecast period. This will enable companies operating in this market segment to develop new products that are potentially disruptive and also reduces the current risks in the market.
- The COVID-19 outbreak has affected international trade and supply chains of essential and non-essential goods and services. With the spread of COVID-19 across the world, businesses have suffered significantly. The studied market has been negatively impacted due to the pandemic. Many governments have postponed the ban on single-use plastic, and the pandemic witnessed growth in the usage of plastic packaging due to significant growth in online shopping and e-commerce.
Green Packaging Market Trends
This section covers the major market trends shaping the Green Packaging Market according to our research experts:
Paper industry is Expected to Witness Significant Growth
- The most common sustainable packaging technique is that companies include downsizing or lightweight packaging and increasing the use of recycled content and renewable materials. Therefore, the use of paper and cardboard in various parts of the business is expanding. It also ensures the packaging is eco-friendly and recyclable for future usage.
- Organizations in the food, beverage, consumer, and packaged goods industries need to use packaging extensively. Depending on the location, there is a global push for a shift toward green packaging, driven either by society or the government.
- The general population is becoming increasingly accustomed to paper-based flexible packaging as customers want more environmentally friendly packaging options. Consumers now generally believe that paper is better for the environment than plastic.
- Moreover, Prioritizing recycled paper also helps curb deforestation issues in conventional paper production. This recycled paper is similar to traditional paper and can be used for businesses' packaging and printing needs.
- Also, due to the increasing costs and consumption rates of wood-based paper, consumers are looking for alternatives to minimize the environmental impactment. Paper and tissues made from bamboo or sugarcane are utilized as an alternative. Both materials are suitable alternatives to paper as they are soft, durable, and biodegradable.
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United States to Execute a Significant Market Share
- The most significant market for green packaging worldwide is North America. Contrary to other parts of the world, where government laws are fundamental to developing green packaging, the main drivers of its quick acceptance are strong consumer knowledge and preferences for eco-friendly products.
- Although all firms in Canada and the United States use green packaging, there are significant differences in governmental policies and consumer behavior.
- The market in the United States is anticipated to expand quickly in the coming years due to an expanding consumer base that places a high value on the packaging of consumer goods, foods, and beverages. Manufacturers in the region are modifying their products to better suit changing consumer preferences and the environment.
- Governments worldwide are adjusting to other sources, such as biodegradable packaging, in response to the rising amount of packaging trash produced. Only 4% of the world's population lives in the United States, making up 2% of the world's municipal solid waste (MSW). Additionally, it has been reported that each American generates more than 106.2 kg of plastic waste annually.
- Moreover, in June 2022 - Mondi expected its sustainable packaging portfolio with its "Grow&Go" line. The entire Grow&Goportfolio complies with food contact standards and is made entirely of paper.
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Green Packaging Industry Overview
Green Packaging Market is moderately competitive and consists of many significant players, such as, Amcor Limited Ardagh Group SA, Ball Corporation, Crown Holdings Incorporated, and DS Smith PLC. Few big competitors now control most of the market in terms of market share. These considerable market participants are concentrating on growing their consumer base internationally. Many businesses rely on strategic collaboration projects to improve their market share and profitability.
- June 2022 - Ardagh Metal Packaging revealed plans to build a new plant in La Ciotat, France, to increase its production capacity. To meet the growing demand from current and potential clients for long-term partnerships in the Middle East and Africa (MEA) and Southwestern Europe, Sud Attractivité and Bpifrance will fund the expenditure.
- April 2022 - By utilizing ExxonMobil's Extend technology, Amcor increases the use of advanced recycling materials like circular polymers, which is one way the company complies with its sustainability commitment to develop all of its packagings to be reusable or recyclable by 2025 and increase the use of recycled content.
Green Packaging Market Leaders
Ardagh Group SA
Crown Holdings Incorporated
DS Smith PLC
*Disclaimer: Major Players sorted in no particular order
Green Packaging Market News
- April 2022: The Mondi Group has announced the launching of new packaging solutions for the food industry. Two-tray packaging products will provide recyclable options for fresh food manufacturers and can help reduce food waste. PerFORMing monoloopand monoi formable PP will provide food protection, demonstrating how packaging plays a crucial role throughout the supply chain.
- April 2022: Sealed Air (SEE) announced its partnership with ExxonMobil and Ahold Delhaize, which will facilitate the recycling of plastic material used in the food supply chain to create new food-grade packaging products.
Green Packaging Market Report - Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Industry Supply Chain Analysis
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power Of Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitutes
4.3.5 Intensity of Competitive Rivalry
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Stringent Government Regulations
5.1.2 Increasing Awareness About Environmental Concerns Among Consumer Industries
5.2 Market Challenges
5.2.1 Lack of Supply of Bio-plastics and Related Materials
5.3 Market Opportunities
5.3.1 Increasing Focus of Major Brands/Companies to Achieve Net Zero
5.4 Impact of COVID-19 on the Green Packaging industry
6. MARKET SEGMENTATION
6.1 Type of Packaging
6.1.1 Recycled Content Packaging
6.1.2 Reusable Packaging
188.8.131.52 Plastic Containers
184.108.40.206 Intermediate Bulk Containers
220.127.116.11 Other Reusable Packing
6.1.3 Degradable Packaging
6.2 End User Industry
6.2.4 Personal Care
6.2.5 Other End User Industry
6.3.1 North America
18.104.22.168 United States
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
6.3.3 Asia Pacific
188.8.131.52 South Korea
184.108.40.206 Rest of Asia Pacific
6.3.4 Latin America
6.3.5 Middle East and Africa
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Amcor Limited
7.1.2 Ardagh Group SA
7.1.3 Ball Corporation
7.1.4 Crown Holdings Incorporated
7.1.5 DS Smith PLC
7.1.6 Elopak AS
7.1.7 Emerald Packaging
7.1.8 Mondi Group
7.1.9 Nampak Ltd
7.1.10 PlastiPak Holdings Inc.
7.1.11 Sealed Air Corporation
7.1.12 Sonoco Products Company
7.1.13 Sgf packaging Co. Ltd
7.1.14 Tetra Pak International SA
7.1.15 Uflex Limited
7.1.16 WestRock Company
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. MARKET OPPORTUNITIES AND FUTURE TRENDS
Green Packaging Market Research FAQs
How big is the Green Packaging Market?
The Green Packaging Market size is expected to reach USD 262.27 billion in 2023 and grow at a CAGR of 7.81% to reach USD 381.98 billion by 2028.
What is the current Green Packaging Market size?
In 2023, the Green Packaging Market size is expected to reach USD 262.27 billion.
Who are the key players in Green Packaging Market?
Amcor Limited, Ardagh Group SA, Ball Corporation, Crown Holdings Incorporated and DS Smith PLC are the major companies operating in the Green Packaging Market.
Which is the fastest growing region in Green Packaging Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2023-2028).
Which region has the biggest share in Green Packaging Market?
In 2023, the North America accounts for the largest market share in the Green Packaging Market.
Green Packaging Industry Report
Statistics for the 2023 Green Packaging market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Green Packaging analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.