Portland, OR -- (SBWIRE) -- 09/21/2017 -- According to a new report published by Allied Market Research, titled, Green Packaging Market by Packaging Type and Application: Global Opportunity Analysis and Industry Forecast, 2014 - 2022, the global green packaging market generated revenue of $132,556 million in 2015, and is expected to reach $207,543 million by 2022, growing at a CAGR of 5.41% from 2016 to 2022. The food & beverage segment accounted for more than three-fifths of overall share in the applications segment.
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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.
The green packaging market is divided by application, packaging type, and geography. By application, it comprises personal care packaging, health care packaging, food & beverage packaging, and others. By packaging type, it includes recycled content packaging (plastic, paper, glass, metal, and others), reusable packaging (plastic containers, drums, others reusable packaging), degradable packaging. By geography, it includes North America, Europe, Asia-Pacific, and LAMEA.
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KEY FINDINGS OF THE STUDY
- The European region is expected to continue to lead the market, followed by North America during the forecast period.
- German green packaging market is estimated with a CAGR of 5.10%.
- The Middle East region is estimated to grow at a CAGR of 3.15%.
- The North American and Asia-Pacific regions jointly accounted for more than half of the total share in 2015.
Major players in green packaging market are Amcor Limited, E. I. DuPont de Nemours and Company, Mondi Limited, Sealed Air Corporation, TetraPak International S.A., Ardagh Group Co., PlastiPak Holdings, Inc., Bemis Company, Inc., Uflex limited, and ELOPAK AS.
Other key players (not profiled in the report) in the green packaging market value chain include BASF SE, Catalyst Paper, Clorox Company, Berry Plastics, TetraLaval, Printpack Inc, Ball Corporation, Innova Films Ltd, and Phoenix Technologies.