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Environmentally Friendly Packaging Market Report: Size, Growth, Share, Trends, Competitive Landscape, Forecast To 2033
Environmentally Friendly Packaging Market
The environmentally friendly packaging market size is expected to see strong growth in the next few years. It will grow to $331.07 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. 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.
Market Overview -
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.
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Consumer Awareness Drives Growth Of Environmentally Friendly Packaging Market
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.
Competitive Landscape -
Major companies operating in the environmentally friendly packaging market market include 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
Innovations In Environmentally Friendly Packaging
New product innovations are the key trends gaining popularity in the environmentally friendly packaging market. Major companies operating in the market are introducing new products to strengthen their position in the market, such as PET containers made from post-consumer recycled content (PCR) resin. For instance, in December 2022, Singha Corporation Co. Ltd., a Thailand-based beverage company, launched 100% biodegradable packaging. The company aims to reduce plastic waste by 2 million pieces per year, which is equivalent to a decrease in greenhouse gas emissions of 30,930 kilograms of carbon dioxide equivalent (kgco2e) per year.
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Key Segments -
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
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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