The Rise of Sustainable Solutions: Green Packaging Industry Driving Forces

Posted on 2024-03-08 by researchinsights in Industrial // 0 Comments

Green Packaging Industry Data Book – Food & Beverage, Personal Care, Healthcare and Others Green Packaging Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 – 2030

The global Green Packaging Industry size was estimated at USD 291.6 billion in 2022 and is anticipated to increase at a significant CAGR from 2023 to 2030.

Grand View Research’s 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.

Food & Beverage Green Packaging Market Insights

The global Food & 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.

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.

Order your copy of the Free Sample of “Green Packaging Industry Data Book – Food & Beverage, Personal Care, Healthcare and Others Green Packaging Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 – 2030” Data Book, published by Grand View Research

Other Green Packaging Market Insights

The global Others Green Packaging Market size was estimated at USD 35.4 billion in 2022 and is expected to expand 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.

The companies are also using molded thermoformed pulp packaging made from sustainable materials to replace plastic holder trays. This is especially significant in a country like China, which is a hub for electronics. It has imposed a ban on single-use plastics in 2022, limiting and banning imports of packaging waste in 2017. Canada has also implemented Zero Plastic Waste by 2030, passed in 2018, which is expected to drive the market for sustainable packaging in the country.

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

Green Packaging Industry Data Book Competitive Landscape

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

Check out more Industry Data Books, 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