Green Packaging Market Share, Segmentation and Vendor Landscape Till 2024

Green Packaging Market Share, Segmentation and Vendor Landscape Till 2024

“Global Green Packaging Market report includes in-depth analysis of industry by recent technologies, trends, opportunities, challenges, key players and business strategies considering types, segment and future outlook.�

Global Green Packaging Market is expected to reach USD 237.8 billion by 2024. Green Packaging is also termed as sustainable packaging or energy efficient packaging. It has low impact on environment and energy consumption. The packaging involves the usage of biodegradable and recyclable material. There are various materials available in the market for the production of green packaging products like recycled papers, biodegradable plastics, solid bleach sulphate, and bio-based plastics. The Green Packaging Market is estimated to grow at a significant CAGR of 5.7% over the future period as the scope and its applications are rising enormously across the globe.

Strict government policy regarding sustainability, rising use of edible packaging material, increasing packaging companies, and rising consumer awareness regarding advantages of ecofriendly materials are documented as major factors of Green Packaging Market that are estimated to enhance the growth in the years to come. However, high cost of production and varying raw material cost may restrain overall market growth in the coming years. Green Packaging Industry is segmented based on type, application, and region.

Request Sample Copy of this Market Research @ https://www.millioninsights.com/industryreports/green-packaging-market/request-sample

Degradable packaging, recycled content packaging, and reusable packaging are the types that could be explored in Green Packaging in the forecast period. Reusable packaging includes plastic container, drum, and others. On the other hand, recycled content packaging includes glass, paper, metal, plastic, and others. The recycled content packaging sector accounted for the largest market share over 57.5% and is estimated to lead the overall market in the coming years.

This may be because of high demand in food and beverage sector. Also, recycle packaging may extend the life of products and is made of strong materials. It can be reused and extends the shelf life of products.

The market may be categorized based on applications like healthcare, food & beverages, personal care, and others that could be explored in Green Packaging in the coming years. Food & beverage segment accounted for the largest market share over 58.6% of Green Packaging and is estimated to continue its dominance in the coming years. This may be because of high demand from food and beverage industries for packaging of products and growing numerous restaurants and diners. Also, healthcare segment is estimated to grow at significant CAGR in the coming years.

Browse Full Research Report @ https://www.millioninsights.com/industry-reports/green-packaging-market Globally, North America accounts for the largest market share of Green Packaging and is estimated to lead the overall market in the upcoming period. The reason behind the growth could be government initiative to promote eco-friendly products and strict policy against use of products harming environment and rising awareness amongst populace. The United States is a major consumer of Green Packaging in this region.

Instead, Europe and the Asia Pacific are also estimated to have a positive influence on the future growth. Europe is the second largest region with significant market share as promising governing inclinations. However, Asia Pacific is estimated to grow at fastest pace with the highest CAGR in the foremost period. The aspects that may be ascribed to the growth comprise government initiatives for acceptance of environment friendly solutions, rising awareness amongst consumer regarding eco-friendly products, and high demand for sustainable practices.

The developing countries like India and China are the major consumer of Green Packaging in this region.

The key players of Green Packaging Market are Be Green Packaging, Amcor Limited, Evergreen Packaging, BASF SE, Rexam, DuPont, Sealed Air, DS Smith, Tetra Laval, and Mondi. These players are concentrating on inorganic growth to sustain themselves amongst fierce competition. As such, mergers, acquisitions, and joint ventures are the need of the hour.

See More Reports of this Category by Million Insights @ https://www.millioninsights.com/industry/packaging

Get in touch At Million Insights, we work with the aim to reach the highest levels of customer satisfaction. Our representatives strive to understand diverse client requirements and cater to the same with the most innovative and functional solutions.

Contact Person: Ryan Manuel Research Support Specialist, USA Email: ryan@millioninsights.com

Global Headquarters Million Insights Felton Office Plaza 6265 Highway 9 Felton, California 95018, United States Phone: 1-408-610-2300 Email: sales@millioninsights.com

Asia Pacific Million Insights Office No. 302, 3rd Floor, Manikchand Galleria, Model Colony, Shivaji Nagar, Pune, MH, 411016 India Phone: 91-20-65300184