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Green Packaging Market 2021 by Manufacturers, Regions, Type and Application, Forecast to 2028
Green Packaging Market 2021 by Manufacturers, Regions, Type and Application, Forecast to 2028
Green Packaging Market, 2021-2028.”, mentions that the market stood at USD 258,350.5 million in 2020 and is projected to exhibit a CAGR of 5.3% between 2021 and 2028.

The global green packaging market size is expected to gain momentum by reaching USD 385,341.6 million by 2028. Fortune Business Insights in its latest report, titled, “Green Packaging Market, 2021-2028.”, mentions that the market stood at USD 258,350.5 million 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 green packaging across the globe. The widespread effect of the global pandemic, COVID-19, has been felt across several economies that are facing unprecedented loss. Owing to the lockdown announced by the government agencies, several industries have been on a standstill with limited operational activities. However, a collective effort from the government as well as the industries is likely to bring the economy back on track and aid in the resumption of industrial activities.

Market Segmentation:

We have segmented the market based on type, application, and region. On the basis of type, the market is segregated into recycled content packaging, reusable packaging,and degradable packaging. Based on application, the market is divided into food & beverages, consumer products, shipping, chemicals, and others. Lastly, based on region, the market is categorized into North America, Asia-Pacific, Europe, the Middle East and Africa, and Latin America.

Information source:

https://www.fortunebusinessinsights.com/green-packaging-market-105113

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 reports 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 green packaging market growth in the forthcoming years.

Further Report Findings:

  • Asia-Pacific is expected to hold the highest position in the global green packaging market during the forecast 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 99,464.93 million in 2020.
  • The market 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 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 forecast period. This is ascribable to factors such as the increasing geriatric population globally driving the demand for convenience food products.

List of the Companies Operating in the Global Market:

  • Amcor Limited (Zürich, Switzerland)
  • Ardagh Group SA (Dublin, Ireland)
  • 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