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Green Packaging Market Share Expected to Gain a CAGR of 5.42% During Forecast 2023

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sagar k
Green Packaging Market Share Expected to Gain a CAGR of 5.42% During Forecast 2023

Summary

Green Packaging Market Share, information By Packaging type (Recycled Content Packaging, Degradable Packaging) By Application (Food & Beverage, Health Care, Personal Care and Other) - Forecast 2017-2023

Green Packaging Market Share Overview

The global Eco-Friendly Packaging Market is forecasted to grow at an annual rate of 5.42% over the forecast period between 2017 and 2023. Market Research Future (MRFR) predicted in its recently published in-depth report that the global Green Packaging Market Share will grow due to a number of key factors. The shifting preference towards sustainable packaging means over conventional packaging being one of the biggest drivers of growth for the global market. The popularity of the food & beverage industry and the increasing rate of urbanization is prompting higher demand for green and eco-friendly packaging means.

Market Segmentation

The global Green Packaging Market Share segmentation is based upon two key dynamics: packaging and application.

By packaging, the market divides into degradable packaging and recycled content. The recycled content packaging segment is increasingly favorable in the global market owing to the increasing urbanization. Aside from this, the manufacturing process of recycled content packaging is extremely productive and aids in reducing the detrimental impact of factories in the environment. This is expected to push the recycled segment over the forecast period.

By application, the market comprises personal care, food & beverage, healthcare, and others. In recent years, the personal care and beauty segment uses green packaging to make packaging more sustainable globally. Additionally, green packaging helps keep the personal care product be fresh for a long period of time with an extended shelf-life. This, in turn, is propelling the personal care segment to grow and expand even further. However, the food and beverage segment hold a significant share due to the burgeoning demand for dairy products like raw milk, cheese, and yoghurt across the globe.

Regional Analysis

The global Green Packaging Market Share is geographically segmented into the following major regions: Asia Pacific, Europe, and the Rest of the World (RoW).

The North American region leads the global Green Packaging Market Share with the maximum share percentage and is expected to continue its dominance in the coming years. The region is spearheaded by the United States in terms of growth and contribution. The growing demand from the manufacturing as well as from the industrial sector in this region aids the market in a positive manner. Additionally, the growing awareness among the consumers concerning this form of packaging and the adoption of the same across varying industries like FMCG and Personal Body Care is anticipated to open new opportunities for the market in this region.

The Asia Pacific region is projected to be the fastest growing market in the global market as predicted by MRFR through its in-depth market study. The beneficial government policies are facilitating manufacturers to use eco-friendly modes of packaging, thereby allowing the Green Packaging Market Share to grow at a positive pace. Furthermore, the presence of a large consumer base coupled with the increasing government focus upon the adoption of various eco-friendly solutions is another key driver of the market.

Competitive Landscape

  • Amcor Limited (Australia)
  • Bemis Company, Inc. (U.S.)
  • Tetra Laval International S.A. (Switzerland)
  • Mondi Plc (South Africa)
  • BASF SE (Germany)
  • Mondi Plc. (South Africa)
  • WestRock Company (U.S.)
  • Sonoco Products Company (U.S.).

Access Full Report With Complete TOC And List Of Figures @ https://www.marketresearchfuture.com/reports/green-packaging-market-2995

About Market Research Future

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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