The global green packaging market size was valued at USD 141.7 billion in 2015. The growing consumer awareness and government regulations are anticipated to propel the industry growth over the next eight years. Edible packaging materials made from natural ingredients is anticipated to gain popularity in the coming years. The key industry trends include downsizing or light-weighting, increasing recycling and waste recovery, increasing use of renewably sourced materials, increasing use of recycled content, and improvements in packaging and logistical efficiency.
Labeling programs such as How2Recycle offers completeness, reliability, and transparency of recyclability claims. Their incentive to participate in a pre-competitive labeling program follows Federal Trade Commission’s (FTC) Green Guides. These programs are launched to communicate to customers about the recycling of a package after its use. The increasing awareness about such labeling programs and benefits of using eco-friendly products is expected to boost the industry growth over the next eight years.
The fluctuating raw material prices and the high cost of production may hinder the industry’s growth over the forecast period.
Europe Green Packaging Market Revenue by Packaging Type, 2015 - 2024 (USD Billion)
The food and beverage is the largest application segment and is expected to continue dominating the market in the coming years. The material is gaining popularity among industries such as food & beverage, healthcare, and personal care, owing to the growing environment concerns and the increasing need for reducing the use of toxic materials.
Packaging Type Insights
Reusable type is made up of durable materials and is specifically designed for reuse and an extended life. Chemicals, pharmaceuticals, and bulk foods are often shipped in reusable and returnable containers. The key reusable types available in the market include drums, plastic boxes, containers, wooden pallets, industrial compressed gas cylinders, reusable field bins for fruits, and many others.
The increasing demand for bioplastic, owing to government regulations, is expected to favor the industry’s growth over the forecast period. Degraded product type uses materials that are decomposed by the action of natural forces such as air, light, and water or by the addition of certain chemicals. Recycled content uses materials that can be easily recycled, such as paper, plastic, metals, and glass.
The North American green packaging market accounted for over 28% of the global market share in 2015. The growing awareness among the middle-class population and the growing demand for sustainable practices is anticipated to favor the regional growth.
The Asia Pacific market is anticipated to be the fastest growing market over the forecast period, owing to the presence of the large consumer base and the increasing government’s focus on the adoption of eco-friendly solutions. The growth is relatively higher in China, India, South Korea, and Brazil. The growing demand for reusable and recyclable materials in developing economies, such as China and India, are expected to boost the industry growth over the forecast period.
The European region is expected to present significant opportunities for the industry’s expansion, owing to the favorable government initiatives undertaken by the European Union in promoting the use of green packaging and creating a sustainable environment. In addition, the implementation of the Horizon 2020 strategy by European Commission has resulted in the increasing development of new bio-based products, which is expected to have a positive impact on the bioplastics packaging market.
Competitive Market Share Insights
The key players dominating the industry include Amcor, Be Green Packaging, DS Smith, DuPont, Evergreen Packaging, Mondi, Rexam, Sealed Air, and Tetra Laval.
The industry players are taking several initiatives toward the adoption of green packaging solutions. In July 2015, Amcor launched “LiquiForm Technology”, which simplifies the production of rigid plastic containers. In June 2015, Virent and Coca-Cola announced that they had produced the 100 percent bio-based PlantBottle at demonstration scale.
The industry is anticipated to witness an increase in the number of strategic mergers and acquisitions over the forecast period. In April 2016, Amcor announced the acquisition of Alusa, which is expected to help Amcor to establish a strong hold in North and South America. In March 2015, Amcor announced the acquisition of Nampak Flexibles. The acquisition provides a platform for growth in the African region. In April 2016, Mondi Group acquired SIMET, the corrugated plant in Poland. The acquisition is expected to help the company in the upgrading and expansion of operations to a high-efficiency box plant.
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