How Big Is The Green Packaging Market Today And How Fast It Is Growing | Mondi Ltd., TetraPak International, Amcor Ltd., Bemis Company, and DuPont
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Light weighted and technical improved packing is an emerging trend in the green packaging market. The lightweight packages require less raw materials & production costs, limiting transportation impacts on environments and lowering waste bounds for landfills. These packing techniques are energy-efficient and cause less pollution through the manufacturing, transportation, and disposal processes.
In the green packaging market, the recycled content type is developing rapidly owing to its increased demand in the food & beverage industry. The segment will further boost the increasing prominence of the food & beverage service sector owning to escalating diners, restaurants, and cafes. The reusable type is also gaining popularity in the green packaging industry due to the use of durable materials and is designed for reusing with extended product life. Returnable and reusable containers are used to ship & transport pharmaceuticals, chemicals, and bulk foods. Major reusable types include containers, plastic boxes, drums, and wooden pallets, supporting the demand for green packs.
The food and beverage application in the green packaging is developing globally due to the adoption of eco-friendly initiatives and usage of recyclable materials. Majority of the vendors are moving toward greener packing options to support these initiatives and comply with government regulations. The growing demand for dairy products packed in eco-friendly packages will drive the green packaging market growth. The growing implementation of sustainable packages in the healthcare segment is also expected to witness steady growth over the forecast timespan.
The unwillingness of consumers to pay more for eco-friendly packaged products compared to traditional packing is restraining the market growth. Product safety & protection is another issue for these packing techniques. Manufacturers are facing a dilemma while adopting green packaging, as these materials are not as efficient as the traditional plastics or foil packages.
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The Asia Pacific green packaging market is expected to witness a high development due to the presence of the robust manufacturing and logistics sector. China, India, and South Korea are witnessing a rapid expansion owing to the emergence of large consumer base for packed & ready to eat food products and high government focus for sustainable development initiatives.
The green packaging market players include Mondi Ltd., TetraPak International, Amcor Ltd., Bemis Company, and DuPont. These companies have adopted various strategies such as product launches, joint ventures, collaboration, and investments. They have also formed strategic partnerships and direct alliances with other application industries.
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