The use of packaging materials and the implementation of manufacturing methods that have a low impact on energy consumption and the environment is referred to as green packaging. Green packaging, also known as energy-efficient or sustainable packaging, is made up of recyclable and biodegradable materials. Additionally, biodegradable plastics, bio-based plastics, solid bleach sulfate, and recycled papers are some of the essential ingredients used in the production of green packaging items.
Green Packaging Market growth is being fueled by factors such as widespread consumer awareness of environmental safety and the benefits of green packaging. Furthermore, regulatory organizations' activities urging firms to embrace eco-friendly alternatives would drive the green packaging market's growth throughout the forecast period.
During the forecast period, Asia Pacific is expected to be the leading region in the Green Packaging Market, with a CAGR of 8.85 percent. Factors such as rapid population growth and rising disposable incomes in emerging nations such as India and China, as well as the presence of various food and beverage producers in this region, will propel the market forward over the projection period.
North America dominated the green packaging market in 2016, accounting for roughly 30% of total market share, with the United States being the largest contributor. The market in North America is growing as a result of regulatory initiatives regarding waste management and landfills. Furthermore, the Environmental Protection Agency (EPA) has set stringent recycling targets.
The Global Green Packaging Market's Major Players
The Global Green Packaging Market's Major Players
Amcor Limited, Bemis Company Inc., Sealed Air Corporation, Tetra Laval International SA, Mondi Plc., Sonoco Products Company, Cargill Incorporation, Graham Packaging Company Incorporation, and Huhtamaki OYJ are among the major players in the green packaging market.
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