The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The environmentally friendly packaging market has experienced robust growth, reaching $229.81 billion in 2023, set to climb to $246.06 billion in 2024 at a CAGR of 7.1%. This growth is attributed to increased consumer awareness about environmental impact, government regulations, circular economy principles, shifting consumer preferences, and growth in the healthcare sector.

Current Market Scenario:

• Consumer Awareness Drives Growth

The surge in consumer awareness regarding environmental issues acts as a key driver for the environmentally friendly packaging market. Studies indicate that 54% of adults across 24 countries believe it’s crucial to decrease their carbon footprint post-COVID-19. Additionally, 75% of US consumers express concern about the environmental impact of their purchases. Notable market players include Amcor PLC, Tetra Laval International SA, and DuPont.

• Market Dynamics and Trends

• Rise in consumer awareness globally
• Government regulations promoting eco-friendly solutions
• Circular economy principles gaining traction
• Shift in consumer preferences towards sustainable options
• Growing influence of environmentally conscious choices in the healthcare sector

View More On The Environmentally Friendly Packaging Market Report 2024 – https://www.thebusinessresearchcompany.com/report/environmentally-friendly-packaging-global-market-report

Innovations in Environmentally Friendly Packaging:

• Key Trends in Product Innovations

New product innovations are shaping the market, with major companies introducing sustainable alternatives. Notable examples include Singha Corporation Co. Ltd., which launched 100% biodegradable packaging to reduce plastic waste and cut greenhouse gas emissions. HP’s acquisition of Choose Packaging aims to disrupt the single-use plastics market with fiber-based, plastic-free packaging.

• Market Shaping Innovations

• Introduction of PET containers made from post-consumer recycled content
• Launch of 100% biodegradable packaging to reduce plastic waste
• HP’s strategic acquisition targeting single-use plastics disruption

Market Segmentation: A Comprehensive Breakdown

The environmentally friendly packaging market is segmented based on various factors:

1. By Type:
   • Recycled Content Packaging
   • Reusable Packaging
   • Degradable Packaging
2. By Product Type:
   • Bags, Pouches, and Sachets
   • Boxes
   • Containers
   • Films
   • Trays
   • Tubes
   • Bottles and Jars
   • Cans
   • Other Product Types
3. By Material Type:
   • Paper and Paper Board
   • Plastic
   • Metal
   • Glass
   • Starch-Based Materials
   • Other Materials
4. By Technique:
   • Active Packaging
   • Molded Packaging
   • Alternate Fiber Packaging
   • Other Techniques
5. By Layer:
   • Primary Packaging
   • Secondary Packaging
   • Tertiary Packaging

Regional Insights:

• Western Europe Leading, Asia-Pacific Rising

In 2023, Western Europe held the largest share in the environmentally friendly packaging market. Looking ahead, Asia-Pacific is expected to emerge as the fastest-growing region in the forecast period, driven by factors such as rising manufacturing activities, increased consumer awareness, and governmental initiatives promoting sustainable practices.

Future Prospects:

• Positive Forecast for Environmentally Friendly Packaging

The environmentally friendly packaging market is poised for significant growth, with projections indicating an increase to $331.07 billion by 2028 at a CAGR of 7.7%. This growth will be fueled by factors like the expanding food industry, growth in the electronics sector, and the rise in disposable income. Key trends in the forecast period include the use of plant-based and biodegradable materials, minimalist packaging, smart packaging, lightweight packaging, transparency, and eco-labeling.

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The Environmentally Friendly Packaging Global Market Report 2024  provides comprehensive insights on the environmentally friendly packaging market size, trends and drivers, opportunities, strategies, and competitor analysis. The countries covered in the environmentally friendly packaging market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

View More Related Reports –

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Eco-Friendly Food Packaging Global Market Report 2024

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