Sustainable and Green Packaging Market Worth $107.7 Billion
 Print this article | Send to Colleague
Sustainable and green packaging is gaining prominence in the global packaging market and is gradually becoming an essential area for the industry players, according to a new report by London, U.K.-based Visongain. The sustainable and green packaging market is experiencing a rise in demand from consumers, made possible due to advanced packaging technologies, the report notes. Although the market was negatively impacted by reduced margins due to pressure from higher production costs involved, the sustainable and green packaging industry still stands firm and is likely to enhance its market share in the global packaging industry. Visiongain calculates that the sustainable and green packaging market will be worth $107.7 billion in 2011.
Rising concerns over environmental hazards, eco-friendly packaging, carbon emissions, waste reduction targets specified by different countries, and the trend towards "green packaging" are factors likely to boost the market for sustainable and green packaging solutions. The sustainable and green packaging market is likely to register consistent growth during 2011 - 2021, mainly influenced by rising environmental concerns, increasing health awareness, high disposable incomes, rapidly growing economies, dearth of natural resources, and high-energy consumption. The North American and Western European economies are successfully established markets. However, the growing economies of Asia-Pacific (India and China), Eastern Europe (Germany and Russia), and Latin America (Brazil) offer tremendous potential to explore, Visiongain explains.
Visiongain expects the global sustainable and green packaging market to demonstrate above average growth in developing nations and steady growth in mature markets. The market was relatively immune to the recent economic downturn. Demand held up as consumers' increasing concerns about personal, as well as environmental, health, and wellness drove the need for sustainable packaging innovations. Moreover, technological advancements related to lightweight packaging will further boost the demand in the industry. Also, key industry players and manufacturers are opting for better materials made from renewable sources for packaging purposes, thus keeping them out of the landfills.
Guiding most of the packaging trends of 2009 and into 2010 are considerations of value and health. In the realm of health, consumers are looking not only for fresh, safe, and nutritious products, but also at items having "healthy," sustainable packaging. Manufacturers also are under pressure to use environmentally-friendly materials, and adopt methods that require low-energy consumption and reduce the adverse environmental impact of packaging such as landfill.
More information about The Sustainable & Green Packaging Market 2011-2021 report is available online.
|
|
