Green Packaging Market Size, Share & Trends Analysis Report By Packaging Type (Recycled, Reusable, Degradable), By Application (Food & Beverages, Healthcare), By Region, And Segment Forecasts, 2023 - 2030

Green Packaging Market Growth & Trends

The global green packaging market size is expected to reach USD 503.43 billion by 2030, expanding at a CAGR of 6.5% from 2023 to 2030, according to a new report by Grand View Research, Inc. This market growth is attributed to the increasing application of sustainable packaging in various industries such as healthcare, food & beverage, personal care, and others.

Green packaging solutions are made of eco-friendly and sustainable materials, including paper, bioplastics, and other materials, to reduce the carbon footprints and landfill waste caused by traditional packaging solutions such as plastic packaging. These sustainable solutions are degradable in nature and do not add to the waste in landfills. Rising environmental concerns among companies and consumers are further driving the market demand.

The green packaging industry, based on packaging type, is further categorized into recycled content packaging, reusable packaging, and degradable packaging type. These packaging solutions are gaining popularity in the market due to their beneficial properties such as usability and cost-effectiveness. Recycled content packaging makes use of paper, plastic, glass, metal, and other materials. Plastic recycled content packaging is widely used in the form of pouches or bottles for food & beverage, personal care, and other industries.

Industry players are adopting several strategies, including partnerships, expansions, mergers & acquisitions, joint ventures, and agreements, to increase the customer base and individual market share. For instance, in October 2022, Ball Corporation announced an expansion in its product portfolio by adding two different sizes of recycled aluminum cups to cater to the food & beverage industries.

Green Packaging Market Report Highlights

• Government policies and initiatives across the globe to encourage manufacturers to adopt green packaging solutions, such as the European Union’s target for reducing plastic waste and increasing recycling rates in the region, are driving the market growth
• Prices of polyethylene terephthalate (PET), high-density polyethylene (HDPE), polyethylene (PE), and others, which are used as base materials for green packaging solution production, can affect their cost. The volatile raw material prices thus restrain the market growth to a certain extent
• Plastic containers under reusable packaging type are gaining popularity due to their effective properties such as being lightweight as compared to drums and are widely used to pack food & beverage products
• The food & beverage application segment dominated the market in 2022 with close to 60.0% revenue share and is anticipated to retain its dominance over the forecast period, owing to various food chain outlets adopting green packaging solutions. For instance, KFC offers 100% recycled packaging by replacing single-use plastics such as forks, spoons, and others
• Europe recorded the largest market share in 2022, owing to increased consumer preference for eco-friendly and sustainable packaging, and growing application in the food & beverage industries in the region
• Several key companies are collaborating to strengthen their market positions in the edible packaging market. For instance, in April 2023, Mondi announced an expansion in its production capacity for fiber-based paper packaging solutions as an alternative to plastic laminates and films to meet the growing consumer demand for green packaging solutions

Please note The report will be delivered in 4-8 business days upon order notification.