The global green packaging market is anticipated to grow significantly at a CAGR of 5.3% during the forecast period (2024-2031). The key aspect that drives the growth of the global green packaging market includes the shift of the major brands towards the adoption of sustainable packaging options as their packaging products; owing to the increasing environmental concerns across the globe. Some of the brands that have shifted their focus towards green packaging include:
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In January 2020, Nestlé announced an investment of $2.1 billion on shifting its packaging from virgin plastics to food-grade recycled plastics and increase the development of more sustainable solutions. The company also announced to buy approximately 2 million metric tons of food-grade recycled plastics and devote more than $1.6 billion to pay a premium for these materials between 2020 and 2025. The company is also planning the launch of a sustainable packaging venture fund with $260 million to invest in start-up companies focusing on these areas.
- In October 2019, Coca-Cola Western Europe and Coca-Cola European Partners (CCEP) marched for a World Without Waste by enhancing their joint action plan to collect, recycle, and reuse their packaging products. Both the companies are raising the bar of This is Forward, their sustainability action plan for Western Europe, which pledged that by 2025 Coca-Cola would collect a can or bottle for everyone that it sells; ensure that all of its packagings are 100% recyclable and ensure that at least 50% of the content of its plastic bottles comes from recycled material.
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Market Coverage
- Segment Covered- By Packaging Type and Applications
- Regions Covered- North America, Europe, Asia-Pacific, Rest of the World
- Competitive Landscape- Amcor Ltd., Ball Corp., BASF SE, Berry Global Inc., DS Smith Plc, Mondi Group Plc, Nampak Ltd., and Sonoco Products Co. among others
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Green Packaging Market – Segmentation
By Packaging Type
- Recycled Content Packaging
o Plastic
o Paper
o Glass
o Metal
- Reusable Packaging
o Containers & Drums
o Intermediate Bulk Containers
o Other Reusable Packing Products
- Degradable Packaging
By Application
- Food
- Beverage
- Pharmaceutical
- Personal Care
- Other Applications
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