Green Packaging Market Size, Overview with In-depth Data and Analysis Report By 2024 “The Green Packaging Market is estimated to grow at a significant CAGR of 5.7% over the future period as the scope and its applications are rising enormously across the globe.”
Global Green Packaging Market is expected to reach USD 237.8 billion by 2024. Green Packaging is also termed as sustainable packaging or energy efficient packaging. It has low impact on environment and energy consumption. The packaging involves the usage of biodegradable and recyclable material. There are various materials available in the market for the production of green packaging products like recycled papers, biodegradable plastics, solid bleach sulfate, and bio-based plastics. The Green Packaging Market is estimated to grow at a significant CAGR of 5.7% over the future period as the scope and its applications are rising enormously across the globe. Strict government policy regarding sustainability, rising use of edible packaging material, increasing packaging companies, and rising consumer awareness regarding advantages of eco-friendly materials are documented as major factors of Green Packaging Market that are estimated to enhance the growth in the years to come. However, high cost of production and varying raw material cost may restrain overall market growth in the coming years. Green Packaging Industry is segmented based on type, application, and region. Degradable packaging, recycled content packaging, and reusable packaging are the types that could be explored in Green Packaging in the forecast period. Reusable packaging includes plastic container, drum, and others. On the other hand, recycled content packaging includes glass, paper, metal, plastic, and others. The recycled content packaging sector accounted for the largest market share over 57.5% and is estimated to lead the overall market in the coming years. This may be because of high demand in food and beverage sector. Also, recycle packaging may extend the life of products and is made of strong materials. It can be reused and extends the shelf life of products.
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