With the demand for
biodegradable and healthy packaging surging at an exponential rate,
the market for green packaging is expected to report 6.20% CAGR
between 2015 and 2021. Transparency Market Research (TMR), a leading
market intelligence firm, has published a report studying the
trajectory of the global green packaging market.The report is titled
“Green
Packaging Market - Global Industry Analysis, Trend, Size,
Share and Forecast 2015 - 2021.” It pegs the overall value of
the global green packaging market at US$132.4 bn in 2014. The market
is expected to reach US$203.1 bn by the end of 2021.
Green packaging or
sustainable packaging uses biodegradable packaging materials to offer
improved sustainability. The packaging involves lifecycle assessment
(LCA) and ensures increased lifecycle inventory (LCI). Since
eco-friendly materials are used in green packaging, it is considered
as a means to reduce environmental pollution and carbon footprint.
The green packaging
market is steered by the rising health awareness among consumers. As
consumers become more health-conscious, a paradigm shift toward
healthy and biodegradable packaging is observed. The demand for green
packaging is thus increasing due to the health benefits it offers.
Furthermore, the increasing environmental concerns are also
bolstering the market, as green packaging’s contribution to
environmental pollution is negligible. Additionally, the shortage of
natural resources has also boosted the demand for green packaging
since it is easily recyclable.
On the flip side,
the diminishing profit margins owing to the rise in production cost
is a primary factor inhibiting the growth of the global green
packaging market. Furthermore, the lack of awareness among consumers
has also negatively impacted the demand for green packaging.
Nevertheless, the market is expected to significantly gain from the
rising government initiatives for keeping the environment clean and
pollution free.
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Based on packaging
type, the report segments the green packaging market into recycled
content packaging, reusable packaging, and degradable packaging. In
terms of application, the market is segmented into food and
beverages, personal care products, healthcare packaging, and others.
Of these, the food and beverages packaging dominated the market in
2014, accounting for a share of 59.7%.
Regionally, the
global green packaging market is segmented into Europe, Asia Pacific,
North America, and RoW. The U.S. has emerged as the biggest green
packaging market in the world due to the favorable government
policies encouraging the large-scale use of eco-friendly packaging.
Furthermore, the global market is also significantly gaining from the
rising demand in emerging economies of Asia Pacific such as India and
China.
To study the
prevailing competition
in the market, the report also profiles companies such as E. I. Du
Pont de Nemours, Tetra Laval, Crown holding, Biopack Environmental
Solutions, Amcor, and Ball Corp. Using SWOT analysis the report
weighs out the strengths and weaknesses of the companies profiled.
The analysis also helps analysts in projecting the threats and
opportunities that these companies may face during the forecast
period.
About Us :
Transparency Market
Research (TMR) is a global market intelligence company providing
business information reports and services. The company’s exclusive
blend of quantitative forecasting and trend analysis provides
forward-looking insight for thousands of decision makers. TMR’s
experienced team of analysts, researchers, and consultants use
proprietary data sources and various tools and techniques to gather
and analyze information.
TMR’s data
repository is continuously updated and revised by a team of research
experts so that it always reflects the latest trends and information.
With extensive research and analysis capabilities, Transparency
Market Research employs rigorous primary and secondary research
techniques to develop distinctive data sets and research material for
business reports.
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