Overview and Scope
Environmentally friendly packaging refers to packaging that is safe for people and the planet, can be easily recycled, and is produced from recycled or other environmentally friendly materials. It utilizes less energy consumption and natural resources for its manufacture. Environmentally friendly packaging is used to protect the environ environmentally friendly packaging market.
Sizing and Forecast
The environmentally friendly packaging market size has grown strongly in recent years. It will grow from <b>$229.81 billion in 2023 to $246.06 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. </b> The growth in the historic period can be attributed to rise in consumer awareness about the environmental impact, government regulations, circular economy principles, shift in consumer preferences, rise in healthcare sector .
The environmentally friendly packaging market size is expected to see strong growth in the next few years. It will grow to <b>$331.07 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. </b> The growth in the forecast period can be attributed to rising fmcg sector, growing food industry, expansion of e-commerce, growing electronics industry, rise in disposable income. Major trends in the forecast period include plant-based and biodegradable materials, minimalist packaging, smart packaging, lightweight packaging, transparency and eco-labeling.
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Segmentation & Regional Insights
The environmentally friendly packaging market market covered in this report is segmented –
1) By Type: Recycled Content Packaging, Reusable Packaging, Degradable Packaging
2) By Product Type: Bags, Pouches and Sachets, Boxes, Containers, Films, Trays, Tubes, Bottles and Jars, Cans, Other product types
3) By Material Type: Paper and Paper Board, Plastic, Metal, Glass, Starch-Based Materials, Other materials
4) By Technique: Active Packaging, Molded Packaging, Alternate Fiber Packaging, Other techniques
5) By Layer: Primary Packaging, Secondary Packaging, Tertiary Packaging
<b>Western Europe</b> was the largest region in the environmentally friendly packing market in 2023. <b>Asia-Pacific</b> is expected to be the fastest-growing region in the environmentally friendly packing market during the forecast period. The regions covered in the environmentally friendly packaging market market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
Increasing awareness about environmental concerns among consumers is expected to propel the growth of the environmentally friendly packaging market. People across the world are aware of the current environmental pollution and its drastic effects on the climate. Purchasing environmentally friendly packaging by customers decreases plastic usage. According to a study conducted by Mastercard Inc., a USA-based financial technology company, in 2021, across 24 countries, 54% of adults after COVID-19 feel that it is important to decrease their carbon footprint. Furthermore, in 2021, 75% of US consumers are concerned about the environmental impact of the products they buy. Thus, increasing awareness about environmental concerns among consumers is driving the growth of the environmentally friendly packaging market.
Key Industry Players
Major companies operating in the environmentally friendly packaging market market include <b> Amcor plc, Bemis Company Inc., Tetra Laval International SA, Mondi Group, BASF SE, ELOPAK Group, E. I. du Pont de Nemours and Company (DuPont), Ardagh Group S.A., Ball Corporation, Crown Holdings Inc., DS Smith plc, Emerald Packaging Inc., Nampak Limited, Plastipak Holdings Inc., Sealed Air Corporation, Smurfit Kappa Group plc, Sonoco Products Company, WestRock Company, Sgf packaging Co. Ltd, Tetra Pak International S.A., Uflex Limited, Huhtamaki Oyj, Constantia Flexibles Group GmbH, Innovia Films Limited, Winpak Ltd., Biopak Pty Ltd., Vegware Ltd., Eco-Products Inc., Stora Enso Oyj, Evergreen Packaging LLC, International Paper Company </b>
The environmentally friendly packaging market report table of contents includes:
1. Executive Summary
2.Environmentally Friendly Packaging Market Characteristics
3.Environmentally Friendly Packaging Market Trends And Strategies
4.Environmentally Friendly Packaging market analysis
5.Environmentally Friendly Packaging Market Size And Growth
6.Environmentally Friendly Packaging Segmentation
7.Environmentally Friendly Packaging Regional And Country Analysis
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27.Environmentally Friendly PackagingCompetitive Landscape And Company Profiles
28.Environmentally Friendly Packaging Key Mergers And Acquisitions
29.Environmentally Friendly Packaging Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Amcor plc
- Bemis Company Inc.
- Tetra Laval International SA
- Mondi Group
- BASF SE
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