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“Global Green Packaging Market”
The global “Green Packaging” market is analyzed in detail in the latest research report from WiseGuy Reports (WGR). The report contains a detailed overview of the global “Green Packaging” market’s historical growth trajectory, a detailed analysis of the market’s current position, and forecasts for the market’s likely growth trajectory over the forecast period. The historical growth of the global Green Packaging market is presented in detail in the report, including an in-depth analysis of the market’s growth patterns over the historical review period. The major drivers and restraints affecting the market’s movements are also studied in detail in the report in this context, to understand the historical impact these drivers and restraints have had on the market.
Green packaging focuses on using packaging that is environmentally friendly by being recyclable or reusable after its initial purpose. Green packaging is also known as sustainable packaging has become one of the emerging trends all over the world.
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Global Green Packaging Market– Market Dynamics
Reducing shipping costs and strict government regulations pertaining to protection of the environment are anticipated to propel market growth. Also, surge for the environmentally friendly plastic product will provide opportunities for the green packaging market. For instance, April 2018, BioLogiQ, Inc., has launched three new grades of its plant-based plastic, namely NuPlastiQ BioPolymers.
On the contrary, high cost of production and, fluctuating raw material prices may hamper industry growth over the forecast period.
Global Green Packaging Market– Segmentation Analysis
On the basis of end user, the global green packaging market is segmented into Food industry, Healthcare industry, Personal Care Industry, and Others. The food Industry dominates the market due to consumer demand.
According to Environmental Leader report, 66% of consumers pay more for products from companies committed to environmentally-friendly practices and 70% of millennials are willing to pay more for a product that makes an impact on issues.
The companies are focused on the expansion of business activities to maintain a competitive edge over other players. For instance, in September 2018, WestRock Company, a provider of differentiated paper and packaging solutions, announced that it would begin accepting mixed paper bales that contain paper foodservice packaging at its 100% recycled paperboard mills across the US.
Global Green Packaging Market– Geographical Analysis
Geographically, the global green packaging market is segmented into North America, South America, Europe, Asia Pacific, and Middle East and Africa. The Asia Pacific region dominates the market due to high demand for sustainable packaging products from emerging economies such as India and China.
Few of the states/proviences in India and China have set a goal to be plastic-free. For instance, the state government of Maharashtra and a few other states in India have banned single-use plastics. This has led to packaging converters as well as brands across the country looking for sustainable and innovative packaging. For instance, PepsiCo India announced its plans to launch plant-based packaging for some of its snack brands.
According to Franchise India Bureau reports, PepsiCo has announced that it plans to launch its first ever 100% compostable plant-based packaging for its snack brands Kurkure and Lay’s.
Global Green Packaging Market– Competitive Analysis
The global green packaging market is competitive with the presence of various small and large players in the market. Multinational companies are dominating the global green packaging market in recent years. WestRock Company, Amcor Limited, Sealed Air, Mondi PLC., Bemis Company Inc., The Dow Chemical Company, and Ball Corporation are the prominent players in the global green packaging market. WestRock Company is one of the major company in green packaging and is enhancing the market through acquisition. For instance, in January 2018, WestRock company has signed a definitive agreement to acquire KapStone Paper and Packaging Corp for USD 4.9 billion.
For instance, in December 2017, WestRock Company, one of a leading provider of differentiated paper and packaging solutions has entered into agreement to acquire Plymouth Packaging, Inc.
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Major Key Points of Global Green Packaging Market
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