| Source: DataHorizzon Research
Fort Collins, Colorado, April 03, 2024 (GLOBE NEWSWIRE) — The Green Packaging Market size was valued at USD 305.6 Billion in 2023 and is anticipated to grow CAGR at 6.7% to reach USD 546.4 Billion By 2032.
The need to reduce plastic dependence and sustainability has been widely felt across the packaging industries. Green packaging refers to biodegradable and recycled materials in the packaging process to reduce wastage from the growing number of packaging waste ending up in landfills.
According to the UN Environment Program, 85% of the total plastic produced is used for packaging purposes, including single-use plastic. After that, this material is dumped in landfills or treated as unregulated waste. However, single-use plastic has grown in the past few years as it facilitates packaging for larger materials and is a cost-effective solution.
Green packaging is widely preferred for the medical, food, and beverage industries as it helps avoid contact with any outside agent that affects the food or medicine quality and prevents food from getting spilled. However, heavy usage of single-use plastic for packaging results in high emission levels as its production emits greenhouse gases, thus harming the environment. This has resulted in governments and people becoming aware of the consequences and demanding cleaner packaging solutions, resulting in the growing adoption of green packaging solutions.
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Segmentation Overview:
The global green packaging market has been segmented into packaging type, end-user, and region. Based on packaging type, the green packaging market segmentation includes packaging with recycled content, reusable packaging, and degradable packaging. Recycled content holds a significant share of the packaging type segment of the green packaging market. It includes materials like paper, plastic, metal, glass, and other materials that can be used repeatedly without compromising the packaging quality.
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Green Packaging Market Report Highlights:
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Green Packaging Market Segmentation:
By Packaging Type: Recycled Content Packaging (Paper, Plastic, Metal, Glass, Others), Reusable Packaging (Drum, Plastic Container, Others), and Degradable Packaging
By End-user: Food & Beverages, Personal Care, Healthcare, and Others
By Region: North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa.
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