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Green Packaging Market Trends 2020 by Types and Application Forecast to 2025
Green Packaging Market
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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.
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. Another trend in the green packaging market is edible packing, which is made of an edible film coating placed on or between food materials and eliminates wastes all together. This concept involves the reduction of food wastage by implementing eatable packages.
The green packaging market growth is hindered by high production costs associated with manufacturing bioplastic packing materials, creating barriers for smaller and newer companies. Inefficient recycling of overall solid waste produced is a challenge for economies due to insufficient recycling sources, unawareness of waste management systems, and production of highly toxic wastes. Limited awareness related to green and eco-friendly packages in underdeveloped regions will hamper the green packaging market growth. The underdeveloped and remote areas have limited consumer demand, subsequently affecting the production rates and demand for sustainable packages.
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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. For instance, in January 2019, Samsung Electronics announced the introduction of its eco-friendly packaging solutions. The company has planned to minimize pack sizes and replace traditional materials with environmentally sustainable materials.
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 European countries including Germany and France are expected to support several opportunities for the market growth owing to governmental regulations by the European Union for promoting the concept of sustainable development. In addition, Horizon 2020, an initiative by the European Commission has been implemented to promote the usage of new biodegradable products, creating a positive impact on the market.
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