Market Overview:

The Green Packaging market is projected to grow from USD 267.83 Billion in 2022 to USD 385.34 Billion in 2030, exhibiting a CAGR of 5.3% during the 2023-2030 period.
Green packaging, which is also called sustainable packaging, uses the least amount of energy and has the least negative effect on the earth. Instead of using things like plastic and Styrofoam, green packaging uses materials that can be broken down and reused. Green packaging also lowers the amount of power it uses and the amount of greenhouse gases it gives off.

Since green packaging uses less carbon than regular synthetic packaging, it helps people and the earth live healthier lives in the long run. Green packaging also needs to find ways to reduce the amount of trash and pollution made during production. One of the most important things driving the market is the growing desire to protect the earth and live in a way that doesn't harm it. This, along with strict rules about protecting the environment and a trend in business to use renewable resources to make things, is driving up demand.

Market Dynamics:

Key Trend: Increasing prevalence of sustainable food packaging will stimulate market expansion

Green packaging includes bioplastics, recyclable paper and plastics, plant-based biomaterials, organic fabrics, and repurposed items. These products can readily replace conventional plastics and have a smaller environmental impact because they are easy to use and biodegradable by nature. These substances do not react with food, which prevents contamination and other adverse environmental effects. This factor is increasing market demand for environmentally friendly food packaging. As a result of the ease with which these technologies facilitate the delivery of convenience foods, they have encouraged customers to transition to these foods. In 2018, the European Union significantly strengthened its packaging and packaging refuse regulations. All plastic packaging must be recyclable with a success rate of 55 percent by 2030. Approximately 30% of plastic packaging is collected in actuality. Product packaging plays a crucial role in the maintenance of product quality, dose and dispensing, ease of use and storage, and provision of vital information regarding product use and constituents. In an endeavor to reduce the environmental impact of packaging, L'Oréal has announced that the first paper-based cosmetic tube will be created in October 2019. In light of these factors, the CAGR of the global Green Packaging market has increased over the past few years.

Paper is proposed as a replacement for plastic packaging far more frequently than bioplastics. Nevertheless, according to the available evidence, paper packaging typically requires a much greater mass than its plastic counterpart to serve the same function. Even after accounting for carbon footprint, paper appears to have a greater impact on the environment than plastic. Consumer preference for paper-based alternatives has increased as a result of environmental concerns surrounding plastic packaging. Governments and organizations must take the initiative to transform the sector by enacting stringent environmental protection laws and promoting recycled paper products. This is driving the ecological packaging industry forward.

Type Insights:

The market is segmented by type into recycled content, reusable, and biodegradable packaging. In 2020, the recycled content segment held the greatest market share at 61.2%. The segment contains recyclable materials such as paper, plastic, glass, and metal. Manufacturers reuse these materials as raw materials to create new packaging products, thereby reducing the surplus pollution caused by packaging waste.

The plastic segment with recycled content held the largest market share in 2020, as it is extensively used in a variety of applications and provides essential packaging properties that other materials, such as paper, cannot provide. Plastics are also very cost-effective, which has made them a popular material choice, particularly in emerging economies where product cost is an important factor. Due to the increasing adoption of flexible pouches in various end-use industries, the plastics segment is anticipated to experience robust growth over the forecast period.

As paper is readily available, accessible, and well-liked by consumers, it is the next main segment of recycled-content packaging. Paper is utilized in both flexible and rigid packaging options. Enhanced functionalities, such as waterproofing through laminates and coatings, are increasing the market penetration of paper packaging. Popularly used in bakery products and foodservice applications is paper.

The reusable segment consists of drums and plastic containers manufactured from long-lasting materials intended for repeated or extended use. Drums are used to convey fluids, primarily various types of chemicals. They have a lengthy expiration life and can be repurposed for purposes such as trash cans. Plastic containers are acquiring popularity among producers and sellers of fruits and vegetables because they are durable and easy to store and transport.

Application Insight:

In 2020, the food and beverage application segment dominated the market with more than 58.5% of the global revenue. With the increasing popularity of green packaging, many restaurants, fast food chains, packaged food companies, and casual dining establishments are implementing molded pulp packaging and compostable packaging, which is expected to propel the food and beverages segment.

Many manufacturers of personal care products are transitioning to eco-friendly alternatives by reducing the total amount of packaging material. Change is influenced in part by consumer consciousness regarding the sustainability of product packaging. Numerous consumers have begun to criticize manufacturers of personal care products for using excessive packaging for purely cosmetic reasons. Consequently, businesses have replaced paperboard packaging with thin plastic packaging when essential.

Despite stringent regulations regarding the safety of product packaging, the healthcare sector has demonstrated optimistic growth. The pharmaceutical industry utilizes glass packaging extensively because it is inert and suitable for the packaging of various medications. Aluminum foil is a widely used packaging material in the pharmaceutical industry for the packaging of tablets and capsules.

For greater convenience, the market companies serving the healthcare application sector are introducing innovative molded pulp packaging products to supplant reusable hospital utensils. With hospitals under increasing strain due to the COVID-19 pandemic, disposable eco-friendly alternatives are anticipated to increase in demand. 

Regional Insights:

The global Green Packaging market has been looked at in different parts of the world, like North America, Europe, Asia-Pacific, Latin America, the Middle East, and India. In the near future, this market will be dominated by the global area.

In 2020, 36.7% of the market's income came from Europe. This was because the European Union and other European countries had strict rules about the use of single-use plastics. The European Directive brought in the idea of a "circular economy," which has set goals and rules for being environmentally friendly. European businesses are starting to follow circular economy plans by using materials that can be reused, recycled, or broken down

In terms of value, Asia Pacific is second in 2020. This is because there are more and more government rules and programs in the area that encourage makers to use greener packaging. China, which makes more things than any other country, is making changes to the way it packages things and the materials it uses to make them more eco-friendly. Because China ships so many goods, this move will have a big effect on the growth of markets in the area. The Australian government has set a goal of making all packaging recyclable by 2025 or earlier. This will cause the market worth to rise sharply over the next few years.

Because governments in the area worked hard, North America now has the same market share as Asia-Pacific. The government of Canada has built a lot of recycling facilities to help people recycle at home. In 2019, all polystyrene containers and cups were banned in Vancouver, Canada, so that by 2040, less solid trash would be thrown away. So, it is what drives desire in this area.
Scope of Report:

Key Vendors:

• Amcor Limited
• Mondi Limited
• Sealed Air Corporation
• TetraPak International
• Ardagh Group
• PlastiPak Holdings
• Bemis Company
• Uflex limited
• ELOPAK.
• others.

• Amcor Limited

A global leader in the design and manufacture of responsible packaging for food, beverage, pharmaceutical, medicinal, household, and personal-care products. Amcor collaborates with global leaders to secure their products and the people who rely on them, differentiate their brands, and enhance their supply chains using a variety of flexible and rigid packaging, specialty cartons, closures, and services. The company focuses on producing packaging that is increasingly lightweight, recyclable, and reusable, as well as containing an increasing quantity of recycled material.

• Mondi Limited

Mondi is a global pioneer in packaging and paper, contributing to a better world by designing innovative, sustainable packaging and paper solutions. The business is fully integrated along the entire value chain, from forest management and pulp, paper, and plastic film production to the development and manufacture of effective industrial and consumer packaging solutions. Sustainability is central to their strategy and integral to their business practices. EcoSolutions, a customer-centric approach, allows them to discover the most sustainable solution by asking the right questions. 

Mondi is listed on both the London Stock Exchange (MNDI) and the Johannesburg Stock Exchange (JSE) (MNP). Mondi is a component of the FTSE 100 and has been included in the FTSE4Good Index Series and the FTSE/JSE Responsible Investment Index Series since 2008 and 2007, respectively.

• TetraPak International

Company specializes in comprehensive solutions for food processing, packaging, and distribution. Tetra Pak processing and packaging systems are capable of processing and packaging dairy products, juices and nectars, ice cream, cheese, dry foods, fruits, vegetables, and pet food, among other products. During both the manufacturing and distribution processes, they prioritize minimizing the consumption of all basic materials and energy. The processing solutions are also intended to be gentle on the products.

• Ardagh Group

The world's leading supplier of sustainable, infinitely recyclable metal and glass packaging for brand proprietors. We operate 65 manufacturing facilities in 16 countries, employing more than 20,000 individuals. The consistent pursuit of market-leading innovation, quality, and customer service, supported by investment in our people and processes, has been the driving force behind our rapid growth over the past two decades. Sustainability is as essential to us as innovation, and we only provide materials that are 100 percent infinitely recyclable. Glass, steel, and aluminum have well-established collection and recycling infrastructures, which we utilize to the fullest extent in all of our markets.

In addition to a strong brand and an excellent reputation, the members of Ardagh share a common vision: to be the packaging partner of choice for brand owners around the globe. Their vision for Ardagh's future is based on the company's three fundamental values: trust, teamwork, and excellence.

• PlastiPak Holdings

Plastipak, a company founded in 1967 with headquarters in Plymouth, Michigan, designs and manufactures high-quality rigid plastic containers for the food, beverage, and consumer products industries, including cleaning, automotive, and aerosol products. Plastipak, a global leader in the packaging and recycling industries, maintains over 60 locations worldwide with over 6,000 employees. As part of a team propelled by innovation and committed to sustainability, our associates support our global operations, allowing us to provide packaging for some of the most recognizable and esteemed brands in the world. 

Plastipak is an organization of opportunities guided by solid values and principles. They are delighted to invest in our employees by providing a safe, positive, and collaborative environment in which they can flourish and advance their careers. In the packaging industry, Plastipak offers a vast array of rewarding and challenging opportunities, from technicians and engineers to operators and analysts. Explore a vocation at Plastipak for the chance to enhance the global packaging experience of consumers. 

Industry Development:

• In June 2021, Amcor put out chocolate packs that were good for the environment in South America. The company has developed and made chocolate powder containers out of recycled plastic. Our carbon footprint is 53% smaller with this packaging than it was with our old packing.
• In April 2021, Amcor came up with a new way to package medicines. The new AmSky blister system is the newest product in our line of medical packaging goods that can be recycled.

Market Segmentation:

By Types

• Recycled Content Packaging
• Reusable Packaging
• Degradable Packaging

By Application

• Food & Beverages
• Consumer Products
• Shipping
• Chemicals
• Others

Regional Insights:           

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• France
• Italy
• Spain
• UK
• Nordic Countries
• Denmark
• Finland
• Iceland
• Sweden
• Norway
• Benelux Union
• Belgium
• The Netherlands
• Luxembourg
• Rest of Europe
• Asia-Pacific
• Japan
• China
• India
• Australia
• South Korea
• Southeast Asia
• Indonesia
• Thailand
• Malaysia
• Singapore
• Rest of Southeast Asia
• Rest of Asia-Pacific
• The Middle East & Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of the Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America

Conclusion:

The green packaging market is in its infancy and is projected to experience substantial growth over the next six years due to the introduction of bioplastic, environmental concerns regarding sustainable development, and the enforcement of stringent rules and policies by regulatory authorities. The market expansion has been driven by a rise in consumer awareness of green packaging techniques that utilize bioplastics as a primary material across multiple industries, including FMCG, personal body care, and pharmaceuticals. The quantity of solid waste generated exceeds the recycling capacity, thereby inhibiting market expansion.