Green Packaging Market by Application (Food & Beverage, Personal Care, Healthcare, and Others), and Packaging Type (Recycled Content Packaging Reusable Packaging and Degradable Packaging), and Material (Paper, Plastic, Metal, and Others): Global Opportunity Analysis and Industry Forecast, 2022–2031″. According to the report, the global green packaging industry generated $164.17 billion in 2020, and is anticipated to generate $337.54 billion by 2031, witnessing a CAGR of 6.6% from 2022 to 2031.
Rise in awareness among consumers about green packaging techniques and surge in environmental concerns leading to sustainable packaging developments are the factors that drive the growth of the global green packaging market. However, high production and set up cost and lack of government initiatives especially in developing countries through subsidies for recycling hinder the market growth. On the other hand, stringent government regulations on non-degradable plastics along with increase in demand for recycled packaging products present new opportunities in the coming years.
The Interested Potential Investors and Market Players Can Request the Sample Report @ https://www.alliedmarketresearch.com/request-sample/343
Based on application, the food & beverages segment held the highest market share in 2020, accounting for around three-fifths of the global green packaging market, and is estimated to maintain its leadership status throughout the forecast period. This is due to growth in consumer awareness about health and emergence of substitutes. However, the healthcare segment is projected to manifest the highest CAGR of 7.4% from 2021 to 2030. Medicines comprise complex chemical solutions that have the potential to react with the harmful chemicals in the packaging material and destroy the medicine composition. This factor is driving the healthcare green packaging segment.
Based on packaging type, the recycled content packaging segment accounted for the largest share in 2020, contributing to more than half of the global green packaging market, and is projected to maintain its lead position during the forecast period, owing to sustainable development. However, the degradable packaging segment is expected to portray the largest CAGR of 10.4% from 2021 to 2030, owing to wide scope of usage.
Based on region, Europe, followed by North America, held the highest market share in terms of revenue in 2020, accounting for more than one-third of the global green packaging market. This is due to technological advancements and stringent government regulations in the region. However, the LAMEA region is expected to witness the fastest CAGR of 7.3% during the forecast period. Technological developments in South America and other countries in the region are anticipated to increase the growth of the green packaging market in LAMEA.
During the outbreak of the COVID-19 pandemic, production hubs of green packaging were temporarily closed, which had a negative impact on the growth of the market. In addition, disruptions in the supply chain and lack of skilled workforce availability due to partial or complete lockdown hampered the market growth. However, the global green packaging market is expected to witness a V-shaped recovery post-pandemic.
For Purchase Enquiry at: https://www.alliedmarketresearch.com/purchase-enquiry/343
The key companies profiled in green packaging industry 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.
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
5933 NE Win Sivers Drive
#205, Portland, OR 97220
Toll Free: 1-800-792-5285
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Follow us on: LinkedIn