Global Green Packaging Market Size to Exceed USD 498.45 Billion by 2033: Market Insight Report

Global Green Packaging Market Size to Exceed USD 498.45 Billion by 2033

According to a research report published by Spherical Insights & Consulting, The Global Green Packaging Market Size is Expected to Grow from USD 295.24 Billion in 2023 to USD 498.45 Billion by 2033, at a CAGR of 5.38% during the forecast period 2023-2033.  

Browse 210 market data Tables and 45 Figures spread through 190 Pages and in-depth TOC on the Global Green Packaging Market Size, Share, and COVID-19 Impact Analysis, By Packaging Type (Recycled Content Packaging, Reusable Packaging), By Application (Food & Beverages, Personal Care, Health Care), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033

The global green packaging market refers to the industry focused on environmentally friendly and sustainable packaging options that reduce their negative effects. Key primary factors for the growth of the green packaging market include the increasing knowledge of sustainability and its significance, as consumers are calling for more environmentally friendly packaging options. Additionally, manufacturers are now more focused on green packaging choices as a result of this change in customer behavior, which has spurred them to develop and embrace sustainable techniques. Moreover, to meet consumer demands for ecologically friendly options, businesses are reacting by creating goods that use recycled materials or are biodegradable, which tends to boost the market growth. However, small and medium-sized firms find it challenging to make the switch due to the high upfront costs of sustainable packaging materials, such as compostable substitutes and biodegradable plastics.

The recycled content packaging segment accounted for the highest revenue share in 2023 and is anticipated to grow at a substantial CAGR during the forecast period.

On the basis of packaging type, the global green packaging market is divided into recycled content packaging, reusable packaging.  Among these, the recycled content packaging segment accounted for the highest revenue share in 2023 and is anticipated to grow at a substantial CAGR during the forecast period. The growth can be attributed to higher goals for the use of recycled materials in packaging being established by numerous countries throughout the world that are enforcing stronger waste management and recycling regulations.

The food & beverages segment accounted for the largest revenue share in 2023 and is projected to grow at a significant CAGR during the forecast period.

On the basis of application, the global green packaging market is divided into food & beverages, personal care, health care. Among these, the food & beverages segment accounted for the largest revenue share in 2023 and is projected to grow at a significant CAGR during the forecast period.  Food and beverage businesses are under pressure to use more sustainable packaging options as worries about plastic waste grow that so there is a high need for such a packaging system.

North America is anticipated to hold the largest share of the global green packaging market over the predicted timeframe.

North America is anticipated to hold the largest share of the global green packaging market over the predicted timeframe. This region has a growing preference for environmentally friendly packaging, particularly in Canada, as a result of business and governmental reactions to consumer demands.  Businesses looking to gain a competitive edge have addressed environmental concerns by adjusting their packaging design and materials to meet consumer and cost expectations.  As a result, the region's packaging industry has made the shift to sustainable packaging by coming up with innovative ways to solve corporate and international requirements, as well as environmental and health issues.

Asia Pacific is expected to grow at the fastest CAGR in the global green packaging market during the forecast period.  The market for green packaging in the area is being driven by the customer base and strict packaging rules. Businesses throughout the packaging value chain are searching for more environmentally friendly options to meet customer demands and governmental laws by implementing cutting-edge designs and new materials. Using recycled and biodegradable materials, major firms are also embracing green packaging, which is becoming more and more popular.

Company Profiling

Major vendors in the global green packaging market are Evergreen Packaging LLC, Mondi, Nampak Ltd, Ball Corporation, Sealed Air, Tetra Laval, Amcor plc, Be Green Packaging, DS Smith Plc, DuPont, and Others.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Development

• In February 2023, Sealed Air announced the acquisition of Liquibox, a sustainable liquid packaging manufacturer. With this acquisition, Sealed Air is expected to expand its product portfolio in the food & beverage application to meet the growing demand of consumers for sustainable packaging solutions.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global green packaging market based on the below-mentioned segments

Global Green Packaging Market, ByPacking Type

• Recycled Content Packaging
• Reusable Packaging

Global Green Packaging Market, By Application

• Food & Beverages
• Personal Care
• Health Care

Global Green Packaging Market, Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa