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Author(s): Green Packaging Market Overview:
Global Green Packaging Market size is expected to reach $207,543 million by 2022 from $132,556 million in 2015 with a CAGR of 5.41% from 2016 to 2022.
The green packaging market is emergent, and is anticipated to show significant growth in the next six years, fueled by the advent of bioplastic, environmental concerns on sustainable development and enforcement of stringent rules and policies by regulatory authorities. There is a rise in awareness among consumers of luxury goods, toward green packaging techniques that use bioplastics as raw material, across various sectors, including FMCG, personal body care, and pharmaceutical. The amount of solid waste generated is not at par with the recycling capacity, thus, it restrains the market.
Segment Review:
The green packaging market is divided by application, packaging type, and geography. By application, it comprises personal care packaging, health care packaging, food & beverage packaging, and others. By packaging type, it includes recycled content packaging (plastic, paper, glass, metal, and others), reusable packaging (plastic containers, drums, others reusable packaging), degradable packaging. By geography, it includes North America, Europe, Asia-Pacific, and LAMEA.
Middle East Green Packaging Market Size, 2014-2022 ($Million)
Porter’s Five Forces Analysis:
Low bargaining power of suppliers is due to large number of suppliers and low switching cost. The abundance of raw materials reduces the bargaining power of suppliers. In addition, switching is easy for the buyers, owing to the generic nature of the product. Furthermore, there is a credible threat of forward integration for market players as the entry barriers are low since the paper and textile packaging is easy to copy. Typically, manufacturers look for quality packaging services at minimal costs. This increases the bargaining power of buyers. Green packaging market faces threat of substitution from conventional packaging industry as it is more cost-efficient than green packaging. Competition is mainly based on price and quality of product. Brand loyalty is not a major aspect for the buyers in the green packaging market, and also low switching cost increases competition among rivals.
Market Dynamics:
Drivers:
A wide range of oil-based polymer is currently used in packaging applications. This material is non-biodegradable in nature, and is difficult to recycle or reuse because it can get contaminated. Biodegradable plastics were developed from renewable resources to overcome the disadvantages of non-biodegradable products.
Rise in demand for Bioplastics
Green packaging can reduce greenhouse gas emissions, due to the reduced reliance on fossil fuels in production and biodegradable nature of the products. Land-filled organic food and garden waste releases methane gas that is used as renewable energy and the compost by-product can be used to enhance quality of soil which will positively impact on the green packaging market trend.
Restraints:
According to World Bank, in 2012, the annual solid waste generated across the globe was about 1.3 billion tons, and is expected to increase to 2.2 billion tons by 2025. The recycling industry is now a global business with international markets and extensive supply and transportation networks. However, the inefficiency in the market to get the MSW recycled is a restraint to the market. Moreover, the high production and set up cost has refrained businesses to adapt green packaging. In addition, lack of government initiatives, especially in the developing countries, through subsidies for recycling and lack of space for storing recycled material also act as restraint to the green packaging market.
Top Winning Strategy:
Leading players in the green packaging market have adopted various strategies gathered from press releases, annual reports, and primary calls made to industry experts to achieve additional market share. Key strategies adopted by these players include product launches, joint ventures, acquisitions, partnership, expansion, collaboration, and investments.
Global Green Packaging Market Top Winning Strategies, 2012-2016 (%)
Major players in green packaging market are Amcor Limited, E. I. DuPont de Nemours and Company, Mondi Limited, Sealed Air Corporation, TetraPak International S.A., Ardagh Group Co., PlastiPak Holdings, Inc., Bemis Company, Inc., Uflex limited, and ELOPAK AS.
Other key players (not profiled in the report) in the green packaging market value chain include BASF SE, Catalyst Paper, Clorox Company, Berry Plastics, TetraLaval, Printpack Inc, Ball Corporation, Innova Films Ltd, and Phoenix Technologies.
KEY BENEFITS FOR STAKEHOLDERS:
- The green packaging market research provides a quantitative and qualitative analysis of the current market trends and estimations through 2014‐2022, which assist in identifying the prevailing market opportunities in different segments.
- Green packaging market trend in major countries across all regions are mapped according to forecast market revenue.
- Focused study of the factors that drive and restrict the growth of green packaging market is provided.
- Key manufactures of green packaging market are profiled and their recent developments are listed.
- Top investment pockets which showcase the opportunity in the most lucrative product segment is part of the green packaging market study.
GREEN PACKAGING MARKET KEY SEGMENTS:
By Packaging Type
- Recycled Content Packaging
- Paper
- Plastic
- Metal
- Glass
- Others
- Reusable Packaging
- Drums
- Plastic Containers
- Others
- Degradable Packaging
By Application
- Food and Beverage
- Personal Care
- Health Care
- Others
By Geography
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Rest of Europe
- Asia-Pacific
- China
- India
- South Korea
- Japan
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
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