Green Packaging Market Growing at a CAGR of 6.50% Over the Forecast Period

Green Packaging Market

The global green packaging market valued USD 139.09 billion in 2016, and is expected to reach USD 230.19 billion in 2024, growing at a CAGR of 6.50% over the forecast period.

Major Players: Mondi plc, DS Smith, DuPont, Ball Corporation, Georgia-Pacific LLC, International Paper Company, Evergreen Packaging, Tetra Laval Corporation, BioMass Packaging, Airlite Plastics, Cascades, Graham Packaging Company.

Geographically Western Europe and North America together uses around 75% of all sustainable packages. Increasing usage of recyclable packaging is boosting the growth of green packaging business in Europe and North America region. North America is the dominating region for global green packaging business in 2016 followed by Europe. Availability of eco-friendly packaging products, recycling infrastructure and favorable government policies is encouraging the use of green packaging in the region. Europe accounted for 30% market share of green packaging in 2015 and is expected to dominate the market over the forecast period. Government initiatives to create a sustainable environment and increasing spending on the development of bio-based packaging will fuel the demand of green packaging in the region.
Asia-Pacific is the fastest growing region for global green packaging market and is projected to register healthy growth rate during the forecast period. Rising population and increasing consumption & recycling of green packaging in China, Singapore, South Korea, India and Japan is contributing in the growth of green packaging market in the region. Moreover, increasing popularity of reusable plastic containers and stringent regulations on conventional packaging is accelerating the demand of green packaging in countries such as Brazil, Saudi Arabia, the UAE and South Africa. Latin America and Middle East & Africa together accounted for 12% market share of global green packaging market in 2016.

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Market Overview:
Green Packaging is a form of carbon that finds usage in various industries like steel, electronics, energy and automotive. Owing to its excellent physical and chemical properties like light weightedness, high mechanical strength, thermal resistance and lubrication, and chemical inertness, Green Packaging has witnessed increasing utility across industries in recent years. This has lead to considerable growth in the industry.
Available in natural as well as synthetic form, Green Packaging finds major applications in the steel and automotive industries. In the automotive industry, Green Packaging is used in gaskets, clutch materials and brake pads. Growth in this industry has propelled growth in the Green Packaging market as well.
Green Packaging is also instrumental in equipment like pebble bed nuclear reactors, heat exchangers and is increasingly being used as a replacement for asbestos in automotives.
In the steel industry, Green Packaging electrodes are used for smelting in Electric Arc Furnaces. However, the slump in the steel industry in recent times has negatively impacted the market for Green Packaging globally. As per the US Geological Survey, China is the biggest supplier and exporter of natural Green Packaging. The recent economic slowdown in China impacted global supply and further stagnated growth in the Green Packaging market.

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Market Drivers and Challenges
Green packaging causes less soil pollution and has low toxic emission. Growing demand to keep the environment pollution free and clean is boosting the green packaging market across the globe. Due to strict regulations, manufacturers have to adopt eco-friendly packaging which considers under Extended Producers Responsibility (EPR). These key factors are driving the global green packaging market.
On the other hand, high initial production cost and low profit margins for green packaging are restraining the green packaging market growth. Lack of awareness regarding green packaging which is limiting the demand of green packaging among consumers is also prohibiting the adoption of green packaging.

By Geography
o North America (US, Canada) {Market Share (%), Market Size (USD Million), Adoption Rate (%)}
o Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe)
o Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of Middle East & Africa)
o Latin America (Brazil, Mexico and Rest of Latin America)
o Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific)
o Rest of the World

REASONS TO PURCHASE THIS REPORT

  • Identify the drivers, restraints, and opportunity possessed by the global Green Packaging market with in-depth analysis.
  • Analyze the various perspectives of the global market dynamics with the help of Porters five forces analysis.
  • Identify the most dominating type of service and application with forecasted market estimate for the global Green Packaging market.
  • Identify the largest, fastest growing, and significant regions during the forecast period with in-depth analysis.
  • Identify the latest developments, market shares, and strategies employed by the major market players.
  • 3 months analyst support, along with the Market Estimate sheet (in excel).

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