Green Packaging Market is Expected to Grow with a CAGR 4.9% from 2022 to 2028 on Account of Rising Awareness about Sustainable Living

Green Packaging
  • Green Packaging Market

As stated in our extensive report; providing insights on Key Drivers, Key Restraints, Segments (i.e.,Application, Packaging, and Region); the Global Green Packaging Market accounted for USD 265.1 Billion in the year 2021.

“Key Factors Likely to Drive Growth of Green Packaging Market

Raw packaging refers to the use of sustainable materials and production methods of packaging materials that have a very low impact on both energy consumption and the environment. Globally, more and more manufacturers are beginning to use green packages to reduce the amount of chemicals that are damaging the planet's atmosphere. In comparison, reduced green packaging has a reduced carbon footprint, which benefits human and environmental health over time. Meanwhile, increasing environmental awareness among consumers is also increasing the need for raw packaging in the packaging market.

Increasing awareness of sustainable living among consumers is a key factor in the growth of the green packaging market. Many health care, food and beverage firms prefer raw packaging to packaging as it is environmentally safe. This raw package contains paper, glass, metal, which can be recycled quickly. Growing awareness of conservation and sustainable living is one of the key issues in the market. This coupled with the government's strict environmental protection laws and the industrial process of integrating recycled materials into the production process, also expected to stimulate market growth.

However, higher production costs compared to other packaging methods and the prices of raw materials are expected to hinder the growth of the raw packaging market in the forecast period, and strict government regulations on the use of plastic could challenge for the growth of the raw packaging market.

Asia Pacifichas the largest market share by region. Germany, the UK, Italy, and France are expected to increase in terms of revenues generated during the forecast period. Technological advances in these countries and strict government regulations are further expected to drive the market in the region.

Some of the key players in the GlobalGreen Packaging Marketinclude-Amcor, Be Green Packaging, DS Smith, DuPont, Evergreen Packaging, Mondi, Nampak, Ball Corporation, Sealed Air, Tetra Laval and others.