Press release
Green Packaging Market Grow at a CAGR of 8.7% and Generate $561.6 Billion in the 2022-2031
Green Packaging Market
The global green packaging market is expected to grow primarily due to the increasing demand for sustainable packaging. Recyclable sub-segment is expected to flourish immensely. The Europe region is predicted to grow at a high CAGR by 2031.
๐๐จ๐ฐ๐ง๐ฅ๐จ๐๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐ง๐จ๐ฐ @ https://www.researchdive.com/download-sample/8577
๐๐ฒ๐ง๐๐ฆ๐ข๐๐ฌ ๐จ๐ ๐ญ๐ก๐ ๐๐ฅ๐จ๐๐๐ฅ ๐๐ซ๐๐๐ง ๐๐๐๐ค๐๐ ๐ข๐ง๐ ๐๐๐ซ๐ค๐๐ญ
Growing demand for sustainable packaging across the world is expected to make the green packaging market highly lucrative in the forecast period. Furthermore, increased growing awareness regarding the negative environmental effects associated with plastic and similar non-biodegradable materials is anticipated to help the market reach new heights. However, according to market analysts, the high cost of raw materials might become a restraint in the growth of the market.
Increasing governmental support to green packaging companies in the form of incentives is predicted to offer numerous growth opportunities to the market in the forecast period. Moreover, rising consumer preference for sustainable packaging is expected to propel the green packaging market forward in the coming period.
๐๐๐๐๐-๐๐ ๐๐ฆ๐ฉ๐๐๐ญ ๐จ๐ง ๐ญ๐ก๐ ๐๐ฅ๐จ๐๐๐ฅ ๐๐ซ๐๐๐ง ๐๐๐๐ค๐๐ ๐ข๐ง๐ ๐๐๐ซ๐ค๐๐ญ
The green packaging market experienced a moderate impact of the pandemic. The pandemic saw massive disruptions in the global supply chains which affected the growth rate of the market. However, several e-commerce companies started adopting paper-based packaging materials while delivering goods. This increased the demand for green packaging solutions which helped the market to regain some of the lost ground.
๐๐๐ ๐ฆ๐๐ง๐ญ๐ฌ ๐จ๐ ๐ญ๐ก๐ ๐๐ซ๐๐๐ง ๐๐๐๐ค๐๐ ๐ข๐ง๐ ๐๐๐ซ๐ค๐๐ญ
The report has divided the market into the following segments:
Based on packaging type, the recyclable sub-segment is predicted to be the most profitable by 2031. The growing utilization of recycled materials such as paper, plastic, metal, glass, etc., as raw materials for packaging is anticipated to help the sub-segment to garner huge market share by 2031.
Based on application, the food and beverage industry sub-segment held the significant market share in 2021. The growing adoption of green packaging by restaurants, fast food chains, packaged food companies, and casual dining venues is expected to push the sub-segment forward by 2031.
Based on region, the Europe green packaging market is expected to be the most dominant by 2031. Stringent government regulations governing the use of single-use plastics in various countries of this region are predicted to propel the market in the forecast period.
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐จ๐ซ ๐๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐๐ญ๐ข๐จ๐ง @ https://www.researchdive.com/request-for-customization/8577
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The major players of the global green packaging market include Amcor, Mondi, Ball Corp., Tetra Laval, DS Smith, Sealed Air, DuPont, Nampak, Be Green Packaging, and Evergreen Packaging. These players are working on developing strategies such as product development, merger and acquisition, partnerships, and collaborations to sustain market growth.
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