Green Packaging Market Size to Reach USD 441.41 Billion by 2028 | Share and Competitive Landscape

Posted on 2022-11-21 by researchinsights in Consumer Services // 0 Comments

San Francisco, California , USA, Nov 21, 2022 — /EPR Network/ —

Green Packaging Industry Overview

The global Green Packaging Market is expected to reach USD 441.41 Billion by 2028, according to a new study by Grand View Research, Inc. It is expected to expand at a CAGR of 6.1% from 2020 to 2028. The market for green packaging is projected to be driven by the growing consumer demand for environment-friendly alternatives to non-sustainable packaging products.

Green packaging is witnessing growth due to rising environmental concerns caused by the packaging waste that ends up in landfills, polluting the environment. The packaging types categorized under green packaging are recyclable, reusable, and degradable. They are either used in the same value chain or degraded in nature without releasing harmful toxins, thus assisting companies to reduce their negative impact on the environment.

Recyclable and recycled content packaging is predominant amongst all types of green packaging as it is used on a mass scale. Plastics, paper, glass, and metal are the top recycled materials used for this segment of green packaging. Plastic is the most widely used material as it is cost-effective and provides useful properties, such as waterproofing and durability. The paper segment is witnessing high growth owing to new packaging designs introduced by companies as part of sustainable initiatives.

Green Packaging Market Segmentation

Grand View Research has segmented the global green packaging market on the basis of type, application, and region:

Based on the Type Insights, the market is segmented into Recycled Content Packaging, Reusable Packaging and Degradable Packaging.

The recycled content segment held the largest share of 61.2% in 2020. The segment includes materials that can be recycled, such as paper, plastic, glass, and metal.
The reusable segment comprises drums and plastic containers that are made from durable materials intended for multiple or longer use. Drums are used for the transportation of fluids, majorly a variety of chemicals.

Based on the Application Insights, the market is segmented into Food & Beverages, Personal Care, Healthcare and Others.

The food and beverages application segment led the industry with more than 58.5% share of the global revenue in 2020. With the rising popularity of green packaging, many restaurants, fast food chains, packaged food companies, and casual dining venues are adopting molded pulp packaging and compostable packaging, which, in turn, is projected to drive the food and beverages segment.
The healthcare segment has shown promising growth despite the strict regulations related to the safety of packaging of products. For a large part, the pharmaceutical industry makes use of glass packaging as it is inert and suitable for the packaging of different drugs. Aluminum foil is another popular packaging material used by the pharmaceutical industry for the packaging of capsules and pills.

Green Packaging Regional Outlook

North America
Europe
Asia Pacific
Central & South America
Middle East & Africa (MEA)

Key Companies Profile

Industry players are focusing on R&D activities concerning new plant-based materials that mimic the properties of plastics currently in use. Companies are redesigning packaging to include less material, hence saving on the cost and producing less waste.

Some prominent players in the global Green Packaging market include

Amcor
Be Green Packaging
DS Smith
DuPont
Evergreen Packaging
Mondi
Nampak
Ball Corp.
Sealed Air
Tetra Laval

Order a free sample PDF of the Green Packaging Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Matched content

Editor’s pick