Increased concern about the negative effects of single-use plastics on the environment and the growing awareness of the consumers about the benefits of eco-friendly packaging solutions can be considered as the primary factors driving the global green packaging market. The growth in the usage of environmentally friendly packaging material among various industries such as healthcare, food and beverages, and personal care industries will be a major growth factor for the global green packaging industry in the forecast period. 

Read also: Eco-Friendly Logistics: Strategies for Sustainable Shipping Operations

The food and beverages sector continue to increase the use of recycled and biodegradable material in the packaging of its products. This strategic shift is aligned with sustainable packaging, in addition, to the enhancement of hygiene and organisation of environmentally friendly goals. Therefore, relying on the interconnected nature of these dynamics, the green packaging market should expect a noticeably positive impulse in its future development.

Green Packaging Market Size | USD 510.93 Billion by 2032

The global green packaging market size to expand from approximately USD 303.83 billion in 2022, with a CAGR of 5.3% from 2023 to 2032, reaching an value of USD 510.93 billion by 2032.

Revolution of Green Packaging in Europe

The global market for green packaging is still in its developing stage, and currently, Europe has been established as the leading region for growth with a comparatively greater market share of about 40%. This position can be attributed to the governmental policies present in the region that enforce rules that regulate the usage of single-use plastics and the increasing awareness about sustainability measures. This is due to the above factors hence causing the emerging need for green packaging in Europe.

The growth of the European green packaging market is fueled by the positive government interventions which have sought to encourage everyone to transition to a green packaging system. These policies and increased public interest and awareness of the environment as well as organization ideals have all crafted the significant development and establishment of green packaging solutions in the European market.

The Asia Pacific region area is said to experience the highest growth rate throughout the projected period due to its status as the manufacturing hub of the world. This means that the Asia Pacific region stands in a vantage spot to greatly contribute to the enhancement of green packaging, thus underlining the extensive consequences of the narrower sustainable movement in relation to the wider economy and industries of the region.

For Instance, In August 2022, SIG stated its growth through successfully acquiring Pactiv Evergreen Inc. ‘s Asia Pacific chilled carton operations which is also known as Evergreen Asia.

Dominance of Paper Material in Green Packaging Market

Cardboard and paper products keep on offering insignificant benefits of recycling. Recycled paper and cardboard still kindle some of the most engaging discussions concerning sustainable packaging even as they continue to be overshadowed as popular topics with catchy hashtags. These materials sit well as perfect choices when sourced in a green manner or incarcerated fully of recycled material.

Due to these identifying features together with the fact that they are naturally biodegradable and have low impact on the environment, their suitability as solutions that can work with the environmentally friendly perspective can be easily substantiated and thus prove the sustainable and ongoing relevance of the considered solutions. Amid all the shimmering technologies for newly designed known paper and cardboard, re-used papers and cards deserve quiet pride for their effectiveness and harmonious effect to our earth.

• For Instance, in March 2023, Electrolux Group introduced the services of recycled and paper-based packaging with 70% less ink. With effect from this month (March), the new packaging is being implemented on small appliances falling under the category of Electrolux and AEG.

Leveraging Growth of Bubble Wraps in Green Packaging Market

Traditional bubble wrap provides the satisfying joy of popping, its non-biodegradable nature presents environmental concerns when disposed of in landfills. In response, numerous companies have embraced a more eco-conscious solution: corrugated bubble wrap. This innovative packaging material is crafted from corrugated cardboard strategically scored to yield a cushioning effect. 

Repurposing this corrugated cardboard into protective packaging for delicate items addresses sustainability concerns and showcases a thoughtful approach to reducing environmental impact. This transition to corrugated bubble wrap exemplifies a shift towards greener packaging alternatives, reflecting a heightened commitment to responsible business practices and environmental stewardship.

For Instance, In May 2024, Orlandi, an innovative leader in packaging and sampling solutions, has announced the launch of its new product, EcoPro™ Paper-Wrap.

Integration of Packaging Additive in Green Packaging Market

Additives for packaging, particularly biodegradable, oxo-degradable, and photodegradable packaging aids significantly in increasing awareness towards the biodegradation process of packaging and reduction of packaging waste.

These additives when included in the packaging materials enhance the degradation process such that after use, the packaging material will degrade faster. Biodegradable additives allow packaging components to degrade, and oxo-degradable additives cause controlled degradation in the presence of oxygen or UV radiation. Photodegradable additives, react to light in a way that leads to the degradation of packaging over time.

These adding features help to provide for a more efficient packaging life cycle where there will be less accumulation of wastes that are environmentally unfriendly hence conforming to the ethos of sustainable use of resources and proper management of wastes.

For instance, In February 2023, Mobil™ has embarked on a campaign promoting sustainability by using 50% post-consumer recycled (PCR) plastic pails.

Recent Innovations in the Green Packaging Market:

• In January 2024, Logson Group a UK based corrugated packaging supplier has recently acquired sustainable packaging solutions provider Challenge Packaging.

• In November 2023, TIPA, a pioneer in creating compostable packaging solutions across the globe comes up with a new fully compostable and recyclable tray made from a byproduct of rice.

• In June 2022, private equity investor Ara Partners, dedicated to industrial decarbonization, agreed to acquire UK’s sustainable packaging firm Petainer.
• In March 2024, Cardbox Packaging  elaborated a new investment of €6. 5 million in its new subsidiary located in the Czech Republic.

Insight Source: https://www.towardspackaging.com/insights/green-packaging-market