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Green Packaging Market to Hit 7.83% to 2021: Growth Analysis, Company Profiles & Trends
The Green Packaging Market Research Report is a professional and in-depth study on the current state also focuses on the major drivers and restraints for the key players.
Marketsizeforecasters.com adds new global Green Packaging market: report that lists top active companies as Amcor, DuPont, Mondi, Sealed Air, and Tetra Laval.
Other Prominent Vendors in the market are: Airlite Plastics, Ardagh Group, Be Green Packaging, Bemis, Berkley International, BioMass Packaging, Cascades, Clondalkin, Crown, Dairi-Pak, DS Smith, Ecologic, Elopak, Emerald Packaging, EnviroPAK, Evergreen Packaging, Fabri-Kal, Georgia-Pacific, Gerresheimer, Graham Packaging, Graphic Packaging, Green Packaging, Huhtamaki, Sonoco, Winpak, Wipak, Nampak, Owens-Illinois, Plastipak, Polyoak Packaging, Rexam, Reynolds, Innovia Films, IntraPac, Westrock, and Smurfit-Stone Container.
Research Analysts forecast the global Green Packaging market to grow at a CAGR of 7.83% during the period 2017-2021.
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Commenting on the report, an analyst from team said: One trend in market is product innovations. Numerous technological and design innovations have been introduced in the market, leading to an increased number of new products being offered by vendors to suit the varied needs of their customers. Packaged food, beverages, and personal care companies are demanding eco-friendly packaging materials that are also visually appealing to consumers. Such demands pressurize vendors to introduce innovative products and use new technologies in their manufacturing. Therefore, vendors are looking for high-performing packaging options that permit them to retain low manufacturing costs. For instance, sugar beet, corn, and sugarcane are new resources and raw materials used in the manufacturing of bioplastics. These materials are gaining popularity because they are cheap and biodegradable. This is opening new markets for vendors to venture.
The listed pricing for this Green Packaging Market report starts at $ 3500.
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According to the report, one driver in market is demand for bioplastic packaging. Increased environmental concerns and the need to reduce pollution have led to increased emphasis on the use of recyclable materials, especially the use of plastic resins derived from renewable resources. To increase the focus on sustainability, some packaging manufacturers are adopting bio-based packaging solutions that offer viable alternatives to chemicals and conventional plastics. Bioplastic packaging products are more durable and sustainable than regular conventional plastic packaging products, as sustainable plastics consume less energy and natural resources, generate lower CO2 emissions, and are lightweight in nature. Governments are also emphasizing on sustainability because of packaging waste. Companies require eco-friendly packaging materials that can be easily recycled. Most packaging companies worldwide face numerous issues related to contamination of packaged products. Hence, vendors are gradually shifting to bioplastic packaging solutions to avoid such issues.
Further, the report states that one challenge in market is cost-effectiveness of conventional plastic over bioplastic. Raw materials used in the manufacture of green packaging, such as PLA, PHA, PHB, PHV, PHH, starch, and PBS, have volatile prices. The widening of the demand-supply gap in the last few years has led to substantial increase in the cost of raw materials. The rise in the price of raw materials not only increases the manufacturing cost of bioplastics but also leads to reduced profit margins for the vendors. The relatively higher price of bioplastic polymers with respect to traditional plastics is a significant restriction for the widespread use of these materials. Lack of commercial progress in developing bio-based plastics and chemicals, and restricted availability of gas feedstock are driving up the prices of bioplastic polymers.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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