Market Trends of Green Packaging Industry
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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