Packaging is one of the most important concepts in today’s era as a number of people are mainly attracted to a specific product by looking at its outer covering. Currently, there is a number of packaging available but the most commonly used is the green packaging. The green packaging uses recyclable materials for carrying out the packaging process. This eco-friendly type of packaging does not have any hazardous impact on the environment. It does not emit harmful volatile organic compounds or greenhouse gases such as methane or carbon dioxide. Thus, the green packaging helps curb the global warming effects as well as not harm the ozone layer. Owing to all these reasons, the green packaging is being used for a number of healthcare, food and beverage, and other products.
The bifurcation of the global green packaging market is based on the type and application. The type segment is further divided into recycled content packaging, degradable packaging, and reusable packaging. The application segment is categorized into food and beverage, personal care, healthcare, and others.
The rising awareness among the people regarding the health or environment along with the stringent government laws drives the global green packaging market. The increasing disposable income bolsters the market. But, the lack of knowledge on the green packaging concept among the masses will restrain the market growth on a global basis. At the end of 2016, Constantia Flexibles used Avery Dennison’s “CleanFlake” material to manufacture a recyclable pressure-sensitive label for Coca-Cola European Partners’ new “Glacéau Smartwater Sparkling” spring water product. The basic reason behind the recyclable label is to make the waste degradation process easier.
Some of the well-known players in the market include Tetra Laval, Berry Plastics, DuPont, Ball Corporation, Innovia Films Ltd, Amcor, Printpack Inc., and Bemis Company. According to the study, the global green packaging market that was accounted to be USD 161.50 Billion in 2015 and is anticipated to attain USD 242.50 Billion by the end of 2021; in short, a CAGR of 7.0% growth can be expected between 2016 and 2021.
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The green packaging process is going to open new avenues for the packaging industry all across the globe.