Green Packaging Industry | A Growing Trend And The Sustainable Future Of Packaging

 

 

Global green packaging sector database is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research along with a statistics e-book.

 

Access the Global Green Packaging Industry Data Book, 2023 to 2030, Compiled Report By Grand View Research

Food & Beverage Green Packaging Market Report Highlights

The global food and beverage green packaging market size was estimated at USD 183.5 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 7.4% from 2023 to 2030.
• Consumer behavior directly influences packaging solutions in food and beverage applications. Despite the COVID-19 pandemic, the food and beverage industry has witnessed significant growth and is expected to continue to grow over the forecast period, positively impacting the green packaging industry.
• The food and beverage industry is consistently catering to the consumer’s convenience by offering on-the-go consumption products, which are expected to cause a rise in demand for packaging in food and beverage applications.
• There is also significant growth in online grocery stores, such as Amazon Pantry, which has encouraged the purchasing of packaged foods and beverages through online orders. Several companies have extended their delivery services with the introduction of pickups at specific drive-up locations.
• It is observed that consumers who prefer organic food are more likely to demand and buy products that are differentiated under green packaging; therefore, the growth of organic food products is directly affecting the demand for packaging that is recognized as sustainable.
• Food packaging is essential to the food and beverage industry as it provides various functions, including tamper indication, convenience, traceability, food waste reduction and containment, and preservation/protection. Additionally, the packaging is an integral element in the marketing of the product.
• Therefore, the food industry is continuously trying to bring in distinctive packaging to increase sales in a competitive environment. In addition, the shifting consumer preferences, activism, and changing government policies in the wake of packaging pollution-related data, driving the growth of the green packaging industry in food & beverage applications.

 

Personal Care Green Packaging Market Report Highlights

The global personal care green packaging market size was estimated at USD 31.6 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 4.7% from 2023 to 2030.
• The personal care segment recorded a significant market share in 2022, owing to the wide application of recycled PET pouches, bottles, and containers for creams, body lotion, gel, and others.
• Moreover, personal care manufacturers are increasingly recognizing the importance of sustainability to their brand reputation as it helps to convey a company's commitment to sustainability and social responsibility to consumers, which further drives the demand for this segment.
• For instance, Olive Natural Skincare offers 100% recycled packaging for all its products and has achieved a zero-carbon certification which shows its customers its commitment to sustainability and uplifts its brand reputation.
• Many green-conscious consumers are opting for sustainable packaging for personal care products. The past few years have been monumental for sustainable packaging, especially in Europe, as global brands have pledged to reduce, reuse, and recycle post-consumer materials. Manufacturers of personal care products and cosmetics pay attention to sustainable packaging primarily owing to the rising consumer consciousness regarding the origin of the products used by them.
• Cosmetic companies have historically fallen under the ethical radar with controversies related to animal testing, the use of harmful chemicals, and child labor. These companies have been trying to build a clean brand image wherein sustainable packaging has played a vital role.

Order your copy of Free Sample of “Green Packaging Industry Data Book –Market Size, Share, Trends Analysis And Segment Forecasts, 2023 - 2030” published by Grand View Research

Healthcare Green Packaging Market Report Highlights

The global healthcare green packaging market size was estimated at USD 41.0 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 4.8% from 2023 to 2030.
• The healthcare segment is expected to grow at a fast CAGR of 4.8% during the forecast period, attributed to the increasing use of green packaging, such as molded pulp packaging solutions, instead of traditional reusable utensils in hospitals and healthcare facilities for more convenience.
• In addition, aluminum foil material is used for the packaging of pharmaceutical oral drugs such as pills and capsules. Moreover, the increased demand for disposable sustainable packaging solutions, driven by consumer concerns about hygiene during the global pandemic, is contributing to the growth of the segment.
• There also exists a lack of recycling infrastructure for medical packaging materials, which has made it difficult to recycle the materials even though they are manufactured with sustainable practices and eco-friendly materials.
• Europe has been at the forefront of promoting recyclable medical packaging, where manufacturers gain a competitive edge by marketing and making recyclable packaging products.
• Healthcare Plastics Recycling Council (HPRC) has supported and led many hospital waste diversion strategies, although single-use plastics still dominate the healthcare industry.

Other Green Packaging Market Report Highlights

The global other green packaging market size was estimated at USD 35.4 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 2.5% from 2023 to 2030.
• Other applications of green packaging include electronics, consumer goods, and automotive packaging. The green packaging trend has already picked pace in the electronics industry. For instance, Samsung Electronics, a leading electronics manufacturer, announced in 2019 that it would shift from using virgin plastic packaging to more sustainable materials such as paper and biobased or recycled plastics.
• Many electronics manufacturers are revamping their entire product packaging involving quality control, marketing, purchasing, and development for innovative packaging.
• Cardboard is gaining popularity in consumer goods manufacturing as it is 80% biodegradable and readily available. If it is not segregated, it can still break down quickly if it ends up in a landfill.
• The e-commerce players have adopted sustainable packaging as they are witnessing high growth and facing backlash for excessive use of non-sustainable packaging materials. These players are establishing industry partnerships and collaborative initiatives with organizations such as the Green Chemistry & Commerce Council, Better Cotton Initiative, Sustainable Packaging Coalition, and Textile Exchange.
• Considering the tangible business benefits of adopting sustainable packaging, many manufacturers are now switching to green packaging, thereby driving the former’s demand in multiple areas.

 

Go through the table of content of green packaging industry data book to get a better understanding of the Coverage & Scope of the study.

 

Competitive Landscape

 

The green packaging market is highly competitive, with the presence of both global and regional players. The companies offer a wide range of products that are available in a variety of shapes, sizes, and colours. Moreover, they offer custom packaging products to suit customer-specific requirements. The market has also witnessed several new product launches and mergers and acquisitions over the last few years. The industry players are adopting several strategies, including collaborations, mergers & acquisitions, joint ventures, and partnership agreements to increase the customer base and individual market share.

 

Key players operating in the Green Packaging Industry are –

• Amcor plc
• Be Green Packaging
• DS Smith Plc
• DuPont
• Evergreen Packaging LLC
• Mondi
• Nampak Ltd
• Ball Corporation
• Sealed Air
• Tetra Laval