Environmentally Friendly Packaging Global Market Projected to Rise to $246.06 Billion in 2024
The Business Research Company's Environmentally Friendly Packaging Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LONDON, GREATER LONDON, UNITED KINGDOM, November 29, 2024 /EINPresswire.com/ -- The Business Research Company’s Early Year-End Sale! Get up to 30% off detailed market research reports—limited time only!
The recent years have witnessed the robust growth of the environmentally friendly packaging market. The market size, estimated at $229.81 billion in 2023, is set to increase to $246.06 billion in 2024, illustrating a compound annual growth rate CAGR of 7.1%. This historic upsurge is linked to the growing consumer awareness about environmental impact, government regulations, principles of circular economy, shift in consumer preferences and the rising healthcare sector.
What Is The Anticipated Growth Rate and Market Size of The Environmentally Friendly Packaging Market by 2028?
By 2028, this environmentally friendly packaging market size is predicted to rally further to a whopping $331.07 billion, marking a CAGR of 7.7%. This forecasted growth is fuelled by the surging fast-moving consumer goods FMCG sector, a thriving food industry, expansion of e-commerce, a growing electronics sector, and a rise in disposable income. The market, in the forecast period, is also anticipated to witness key trends such as the introduction of plant-based and biodegradable materials, a focus on minimalist packaging, smart packaging, lightweight packaging, and transparency and eco-labeling.
Access a Detailed Sample Report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=7278&type=smp
What Are the Drivers For the Environmentally Friendly Packaging Market?
Increasing environmental awareness among consumers is expected to be the major driver pacn building this market further. People around the globe are now more aware of environmental pollution and its dire effects on the climate. As a result, customers purchasing environmentally friendly packaging is leading to a reduced use of plastic. This consumer trend was highlighted in a 2021 study by Mastercard Inc., a US-based financial technology company. Conducted across 24 countries, the study found that 54% of adults, post-COVID-19, felt that it was important to decrease their carbon footprint. Moreover, it showed that around 75% of US consumers in 2021 were concerned about the environmental impact of their purchased products.
Pre-book this comprehensive market report:
https://www.thebusinessresearchcompany.com/report/environmentally-friendly-packaging-global-market-report
Which Are the Major Players in The Environmentally Friendly Packaging Market?
Major industry players operating in this market include Amcor plc, Bemis Company Inc., Tetra Laval International SA, Mondi Group, BASF SE, ELOPAK Group, E. I. du Pont de Nemours and Company DuPont, Ardagh Group S.A., Ball Corporation, Crown Holdings Inc., DS Smith plc, Emerald Packaging Inc., Nampak Limited, Plastipak Holdings Inc., Sealed Air Corporation, Smurfit Kappa Group plc, Sonoco Products Company, WestRock Company, Sgf packaging Co. Ltd, Tetra Pak International S.A., Uflex Limited, Huhtamaki Oyj, Constantia Flexibles Group GmbH, Innovia Films Limited, Winpak Ltd., Biopak Pty Ltd., Vegware Ltd., Eco-Products Inc., Stora Enso Oyj, Evergreen Packaging LLC, International Paper Company.
What Are the Emerging Trends Influencing the Future of The Environmentally Friendly Packaging Market?
New product innovations are driving further expansion of this market. Leading companies are unveiling new products to consolidate their positions in the market. One notable example is the PET containers from post-consumer recycled content PCR resin. In another instance, in December 2022, Singha Corporation Co. Ltd., a Thailand-based beverage company, unveiled 100% biodegradable packaging. This innovative offering will enable the company to cut plastic waste by 2 million pieces per year, equivalent to a reduction in greenhouse gas emissions of 30,930 kilograms of carbon dioxide equivalent kgco2e per year.
How Is The Market Segmented?
The market segmentation based on the covered report is as follows:
1 By Type: Recycled Content Packaging, Reusable Packaging, Degradable Packaging
2 By Product Type: Bags, Pouches and Sachets, Boxes, Containers, Films, Trays, Tubes, Bottles and Jars, Cans, Other product types
3 By Material Type: Paper and Paper Board, Plastic, Metal, Glass, Starch-Based Materials, Other materials
4 By Technique: Active Packaging, Molded Packaging, Alternate Fiber Packaging, Other techniques
5 By Layer: Primary Packaging, Secondary Packaging, Tertiary Packaging
Regional Climate of the Global Environmentally Friendly Packaging Market
In 2023, Western Europe harbored the largest region of the environmentally friendly market. However, fast-forwarding to the forecast period, Asia-Pacific is touted to outpace the rest by being the fastest-growing region in this market. The regions included in the report encompass Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Browse more similar reports-
Commercial And Industrial Machinery And Equipment Repair And Maintenance Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/commercial-and-industrial-machinery-and-equipment-repair-and-maintenance-global-market-report
Low-Density Polyethylene Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/low-density-polyethylene-global-market-report
Poly-Vinyl Chloride Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/poly-vinyl-chloride-global-market-report
Learn More About The Business Research Company
The Business Research Company has established a commendable repertoire of over 15000+ reports across 27 industries, spanning over 60+ geographies. Our insightful reports draw upon an impressive 1,500,000 datasets, extensive secondary research, and exclusive insights from industry leaders' interviews.
Contact us at:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708
Send your queries at info@tbrc.info
Stay connected with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Oliver Guirdham
The Business Research Company
+44 20 7193 0708
info@tbrc.info
Visit us on social media:
Facebook
X
LinkedIn
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.