What is the global market size of Green Packaging Market?

Green Packaging Market size was valued at USD 229.46 billion in 2021 and is poised to grow from USD 246.67 billion in 2022 to USD 472.92 billion by 2030, growing at a CAGR of 7.5% in the forecast period (2023-2030).

Global Green Packaging Market Size, Share, Growth Analysis, By Packaging type(Recycled, Reusable), By Application(Food & Beverages, Healthcare) - Industry Forecast 2024-2031

Report ID: SQMIG15H2047 | Region: Global | Published Date: February, 2024
Pages: 165 | Tables: 62 | Figures: 76

Global Green Packaging Market Regional Insights

Due to strict laws set by the European Union and other European countries regarding the use of single-use plastics, Europe dominated the market in 2021 with a revenue share of 36.7%. The circular economy concept was introduced by the European Directive, which also set sustainability objectives and criteria. By embracing recyclable, recycled, and biodegradable materials, European businesses have begun to follow the circular economy roadmap.

Due to an increase in government legislation and programs that are encouraging manufacturers to choose green packaging, Asia Pacific came in second place in terms of value in 2021. The world's largest center of manufacturing, China, is modifying its packaging practices and materials to be more environmentally friendly. This decision will have a significant impact on market growth in the area due to the sheer number of goods exported from China. The Australian government has established a goal of implementing 100% recyclable packaging by 2028 or earlier, which will cause a sharp increase in market value during the projection period.

Due to the active efforts made by the governments in the area, North America is on par in terms of green packaging market share with the Asia Pacific region. To promote recycling throughout the nation, the Canadian government has built several recycling infrastructures. Canada enacted a significant restriction on the use of polystyrene cups and containers in Vancouver in 2021 to reduce solid waste discharge by 2028. The region's demand is being driven by government measures that support customer preferences for environmentally friendly products and packaging.

Global Green Packaging Market Report Snapshots

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Green Packaging Market size was valued at USD 229.46 billion in 2019 and is poised to grow from USD 246.67 billion in 2023 to USD 472.92 billion by 2031, growing at a CAGR of 7.5% in the forecast period (2024-2031).

Players in the industry are concentrating their R&D efforts on developing new plant-based polymers that mirror the characteristics of plastics currently in use. Companies are revamping packaging to use less material, which reduces costs and trash production. Some of the top businesses in the industry are Tetra Laval, Ball Corp., Nampak, and Sealed Air. To raise awareness and promote the use of sustainable packaging, Evergreen Packaging has been leading Corporate Social Responsibility (CSR) initiatives including "Carton 2 Garden." Companies in the market are spending more money on creative packaging ideas and novel materials with limitless recycling potential. For instance, ALU/PET non-recyclable constructions are being replaced with Amcor's ultra-recyclable high-barrier packaging with a reduced carbon footprint. Several significant companies in the global green packaging market are. 'Amcor', 'Amcor Limited', 'Ball Corporation', 'Bemis Company Inc.', 'Berry Global Inc.', 'DS Smith', 'Huhtamaki Oyj', 'International Paper Company', 'Mondi', 'Reynolds Group Holdings Limited', 'Sealed Air Corporation', 'Smurfit Kappa Group plc', 'Sonoco Products Company', 'Tetra Pak International S.A.', 'WestRock Company', 'Avery Dennison Corporation', 'Crown Holdings Inc.', 'Elopak AS', 'Graphic Packaging International, LLC', 'Klabin S.A.', 'Owens-Illinois Inc.'

The strict laws imposed on single-use plastics, along with the growing consumer awareness fostered by digital marketing, are driving the overall expansion of the green packaging sector.

Premium clothing companies like H&M, which strives for 100% circularity in the value chain and employs organic chemicals for labeling and printing to promote safer product recycling, are following the trend. Many businesses will be forced to use green packaging as a result of the significant growth of these initiatives to remain competitive in the market. Companies that offer Fast Moving Consumer Goods (FMCG), which have smaller profit margins per unit and are resistant to cost mark-ups, practice green packaging. These businesses are putting light weighting strategies into place to cut expenses on transportation and raw materials. In food and beverage applications, packaging choices are directly influenced by consumer behavior.

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Global Green Packaging Market Size, Share, Growth Analysis, By Packaging type(Recycled, Reusable), By Application(Food & Beverages, Healthcare) - Industry Forecast 2024-2031

Global Green Packaging Market Regional Insights

Global Green Packaging Market Report Snapshots

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