According to market research firm Reportbuyer, the green packaging market, also known as the sustainable packaging market, across the globe is expected to experience a stable growth from now through 2021. In 2014, the global green packaging market was valued at $132.4 billion. By 2021, its predicted value will rise to $203.1 billion.
Over the past decade or so, consumers have become more in tune with “buying green” and choosing sustainably responsible brands. This is part of the more health conscious shopping trend that has been transcending all industries. When a shopper has only minutes or seconds to choose a product, a unique, eco-friendly package stands out on the shelves & makes an impression.
Green packaging can be broken down into three subtypes:
- Recyclable packaging: Packaging that can be broken down so that its materials can be used to create something new
- Reusable packaging: Packaging that can be reused in its original form
- Degradable packaging: Packaging that will break down and completely decompose into nature in a reasonably short time after disposal
The United States is the largest market for green packaging. Although the United States and Europe are considered the more “mature” markets for green packaging due to their already extensive use of eco-friendly products, the Asia-Pacific region is the fastest growing.
For more information on the future of the green packaging market, be sure to check out this report, Green Packaging Market – Global Industry Analysis, Trend, Size, Share and Forecast 2015 – 2021.