The global industry for global green packaging research provides effective analysis on several factors such as the key drivers and restraints that will impact growth. Additionally, the research provides insights into the regional analysis that covers different regions, contributing to the growth of the industry. It includes the competitive landscape that involves the leading companies and the adoption of strategies by them to announce partnerships, introduce new products, and collaboration that will further contribute to the growth of the industry in the forthcoming year’s.
Product Innovation by Major Companies to Strengthen Their Industry Positions
The global industry for global green packaging is fragmented by the presence of major companies incorporating proactive strategies such as developing innovative solutions to gain a competitive edge over their rivals. Additionally, other key players are adopting organic and inorganic strategies to maintain their presence in the industry during the year’s period.
The global green packaging market size stood at USD 267.83 billion in 2021 and is expected to gain momentum by reaching USD 385.34 billion by 2028. Fortune Business Insights in its latest research, titled, “Global green packaging business, 2021-2028.”,mentions that the industry stood at USD 258.35 billion in 2020 and is projected to exhibit a CAGR of 5.3% between 2021 and 2028. The increasing focus on adopting recycled content packaging is expected to boost the demand for sustainable global green packaging across the globe.
Key Considerations for Market Forecast:
- Impact of Pandemic, supply chain disruptions, demand destruction, and change in customer behavior
- Optimistic, probable, and pessimistic scenarios for all markets as the impact of pandemic unfolds
- Pre- as well as post-COVID-19 market estimates
- Quarterly impact analysis and updates on market estimates
We have segmented the industry based on type, application, and region. On the basis of type, the industry is segregated into recycled content packaging, reusable packaging, and degradable packaging. Based on application, the industry is divided into food & beverages, consumer products, shipping, chemicals, and others. Amongst these, the consumer products segment generated 19.3% in terms of share in 2020. Lastly, based on region, the industry is categorized into North America, Asia-Pacific, Europe, the Middle East and Africa, and Latin America.
Increasing Focus on Adoption of Recycled Packaging Content to Stoke Demand
Several companies are coming with innovative solutions to tackle the growing menace of plastic that is leading to the degradation of the environment. For instance, the Colgate-Palmolive Company had undertaken a strong stance on the rising plastic disposal problem by announcing the company’s 2020 goal to increase recycled plastic content in their packaging. The company researchs that by 2050 it will inculcate 75% of the recycled content in its production processes. Therefore, the increasing focus on adopting innovative recycled packaging content is expected to contribute to the global Global green packaging business growth in the forthcoming year’s.
List of the Worldwide Companies Operating in the Global Industry include Ball Corporation (Broomfield, Colorado, United States), Braskem SA (São Paulo, State of São Paulo, Brazil), Caraustar Industries Incorporated (Austell, GA, United States), Cargill Incorporated (Wayzata, Minnesota, United States), Cascades Incorporated (Kingsey Falls, Canada), Other Key Players
Further Industry Updates
- Asia-Pacific is expected to hold the highest position in the global Global green packaging business during the year’s period. This is attributable to the presence of established sustainable packaging solutions manufacturers in countries such as India and China in the region. Asia-Pacific stood at USD 99.46 billion in 2020.
- The industry in Europe is expected to showcase considerable growth backed by the increasing focus on R&D activities by companies such as Mondi Plc and Tetrapak to develop innovative global green packaging solutions in the region between 2021 and 2028.
- Based on application, the food & beverage segment is expected to experience exponential growth during the year’s period. This is ascribable to factors such as the increasing geriatric population globally driving the demand for convenience food products.
The study Green Packaging Market offers data-driven insights and guidance of several aspects. Some of the more notable questions are:
- What are the major recent trends Green Packaging Market that can influence the product life cycle and the RoI?
- Which regulatory trends shape corporate-level, business-level, and functional-level strategies?
- Which micro Market initiatives of leading players will bring in investments in Green Packaging Market?
- What can be the best Green Packaging Market framework and tools for PESTLE analysis?
- Which regions will witness rise in Green Packaging Market new opportunities?