Green Packaging Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2024

Description

The Global Green Packaging Market was valued at USD 287.5 billion in 2023 and is anticipated to grow at a CAGR of 5% from 2024 to 2032. This growth is largely fueled by a surge in environmental awareness among consumers. As individuals and businesses become increasingly eco-conscious, there is a significant push for sustainable packaging alternatives. This transition is prompting companies to embrace green packaging solutions designed to minimize environmental impacts, including the use of biodegradable materials, recycled content, and reduced packaging waste. The heightened demand for eco-friendly products and corporate sustainability initiatives serves as a major driving force behind this market's expansion.

Additionally, regulatory pressures are playing an essential role in the evolution of the green packaging market. Governments across the globe are instituting stringent regulations aimed at reducing plastic pollution and fostering sustainable practices. Policies such as recycling mandates, plastic bans, and incentives for using compostable or recyclable materials encourage companies to shift toward greener packaging options. Adhering to these regulations helps businesses avoid fines while enhancing their image as environmentally responsible entities.

The market can be categorized based on material types, including reusable packaging, recycled content packaging, and degradable packaging. The reusable packaging segment is projected to grow at a CAGR of over 10% during the forecast period. This growth is driven by increasing awareness of environmental issues among consumers and businesses alike. Reusable packaging is favored for its ability to significantly cut waste and conserve resources compared to single-use alternatives, making it a popular choice among eco-conscious consumers.

Market Scope
Start Year	2023
Forecast Year	2024-2032
Start Value	$287.5 Billion
Forecast Value	$550 Billion
CAGR	5%

In terms of packaging types, the market is divided into primary, secondary, and tertiary packaging. The primary packaging segment is expected to lead the market, with revenues projected to exceed USD 300 billion by 2032.

This type of packaging, which directly encases and protects the product, is crucial for consumer convenience. Its importance in maintaining product safety, extending shelf life, and enhancing usability contributes to its significant demand across various sectors, such as food and beverages, pharmaceuticals, and personal care. In 2023, North America accounted for over 25% of the global green packaging market.

There is a notable shift among North American consumers and businesses toward prioritizing sustainability, propelled by growing environmental consciousness and the demand for eco-friendly solutions. This trend is driving the accelerated adoption of green packaging alternatives. Moreover, governments in North America are reinforcing this shift by implementing rigorous regulations and incentives to promote sustainable practices, further encouraging businesses to invest in green packaging solutions.

Product Code: 11652

Chapter 1 Methodology & Scope

1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast calculation
1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
  - 1.4.2.1 Paid sources
  - 1.4.2.2 Public sources

Chapter 2 Executive Summary

2.1 Industry 360° synopsis, 2021 - 2032

Chapter 3 Industry Insights

3.1 Industry ecosystem analysis
3.2 Vendor matrix
3.3 Profit margin analysis
3.4 Technology & innovation landscape
3.5 Patent analysis
3.6 Key news and initiatives
3.7 Regulatory landscape
3.8 Impact forces
- 3.8.1 Growth drivers
  - 3.8.1.1 Increasing consumer demand for sustainability
  - 3.8.1.2 Rising regulatory pressure on plastic use
  - 3.8.1.3 Advancements in sustainable packaging technologies
  - 3.8.1.4 Corporate goals for environmental responsibility
  - 3.8.1.5 Rising interest in eco-friendly solutions
- 3.8.2 Industry pitfalls & challenges
  - 3.8.2.1 Higher costs of sustainable packaging materials
  - 3.8.2.2 Insufficient recycling infrastructure and facilities
3.9 Growth potential analysis
3.10 Porter's analysis
- 3.10.1 Supplier power
- 3.10.2 Buyer power
- 3.10.3 Threat of new entrants
- 3.10.4 Threat of substitutes
- 3.10.5 Industry rivalry
3.11 PESTEL analysis

Chapter 4 Competitive Landscape, 2023

4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix

Chapter 5 Market Estimates & Forecast, By Material, 2021 - 2032 (USD Million)

5.1 Key trends
5.2 Recycled content packaging
- 5.2.1 Paper
- 5.2.2 Plastic
- 5.2.3 Metal
- 5.2.4 Glass
- 5.2.5 Others
5.3 Reusable packaging
- 5.3.1 Drum
- 5.3.2 Plastic container
- 5.3.3 Others
5.4 Degradable packaging

Chapter 6 Market Estimates & Forecast, By Packaging Type, 2021 - 2032 (USD Million)

6.1 Key trends
6.2 Primary
6.3 Secondary
6.4 Tertiary

Chapter 7 Market Estimates & Forecast, By End Use Industry, 2021 - 2032 (USD Million)

7.1 Key trends
7.2 Food and beverages
7.3 Healthcare
7.4 Cosmetics and personal care
7.5 Electronics
7.6 Others

Chapter 8 Market Estimates & Forecast, By Function, 2021 - 2032 (USD Million)

8.1 Key trends
8.2 Active
8.3 Intelligent
8.4 Modified atmosphere packaging (MAP)

Chapter 9 Market Estimates & Forecast, By Region, 2021 - 2032 (USD Million)

9.1 Key trends
9.2 North America
- 9.2.1 U.S.
- 9.2.2 Canada
9.3 Europe
- 9.3.1 UK
- 9.3.2 Germany
- 9.3.3 France
- 9.3.4 Italy
- 9.3.5 Spain
- 9.3.6 Rest of Europe
9.4 Asia Pacific
- 9.4.1 China
- 9.4.2 India
- 9.4.3 Japan
- 9.4.4 South Korea
- 9.4.5 ANZ
- 9.4.6 Rest of Asia Pacific
9.5 Latin America
- 9.5.1 Brazil
- 9.5.2 Mexico
- 9.5.3 Rest of Latin America
9.6 MEA
- 9.6.1 UAE
- 9.6.2 South Africa
- 9.6.3 Saudi Arabia
- 9.6.4 Rest of MEA

Chapter 10 Company Profiles

10.1 Amcor
10.2 Ardagh Group
10.3 Ball Corporation
10.4 Braskem
10.5 Caraustar Industries
10.6 Cargill
10.7 Crown Holdings
10.8 DS Smith
10.9 DuPont
10.10 Elopak
10.11 Emerald Packaging
10.12 Mondi
10.13 Nampak
10.14 Plastipak Holdings
10.15 Sealed Air
10.16 SGF Packaging
10.17 Sonoco Products
10.18 Tetra Pak
10.19 Uflex
10.20 WestRock

Green Packaging Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2024 - 2032