Green Packaging Market Insight Report 2019 by Business Dimensions, Regional Existence
Seattle, WA -- (SBWIRE) -- 12/12/2019 -- Green Packaging Market Overview:
The green packaging market is emergent, and is anticipated to show significant growth in the next six years, fueled by the advent of bioplastic, environmental concerns on sustainable development and enforcement of stringent rules and policies by regulatory authorities. There is a rise in awareness among consumers of luxury goods, toward green packaging techniques that use bioplastics as raw material, across various sectors, including FMCG, personal body care, and pharmaceutical. The amount of solid waste generated is not at par with the recycling capacity, thus, it restrains the market.
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Scope of the Report
Green packaging is also known as sustainable packaging that uses materials and manufacturing methods for the packaging of goods that has a low impact on both energy consumption and on the environment. Following the government regulations, most of the manufacturers use sustainable packaging to eliminate the contaminants and chemicals that destroy the water, soil, and atmosphere of our planet.
Green Packaging Market Application Insights
Food and beverage, personal care, healthcare, and others are the four application areas within the green packaging market. In 2019, the food and beverage sector dominated the industry and held around 59.6% of the global market. Green packaging solutions are widely used in the food service industry. Rising prominence of this industry, backed by increasing number of diners, restaurants, etc., are likely to be key sources driving demand over the forecast period.
Application in the healthcare sector is likely to observe stable growth over the forecast period. These packing solutions are widely used as a carrier for heavy, delicate, uniquely shaped objects by using less material. The segment is likely to be driven by increasing investments in the industry. However, investments in the sector are widely dependent on the country's economic strength. It has been anticipated that investment inequities in the industry are likely to persist and intensify further in the coming years.
Key Market Trends
Personal Care has Largest Growth During the Forecast Period
According to a study by the Ellen MacArthur Foundation, around 8 million ton of plastic waste ends up in oceans every year, globally. The report also predicts plastic debris to outweigh fish by 2050, unless drastic actions are taken.
This is leading to consumers and governments, in many countries, taking action toward recycling environmental wastes. Recently, countries like India (some of the states) have banned the usage of
plastic packaging. Similarly, every major supermarket in Britain pledged to eradicate unnecessary single-use plastics by 2027, under a the UK Plastics Pact.
This has resulted in increased focus on green and sustainable packaging thereby driving the market growth.
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Green Packaging Market Top Key Companies
Green Packaging Market by Type
Green Packaging Market by Application
Food & Beverages
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