Green Packaging Market set to Increase to 2024

Green packaging or eco-friendly packaging as it is widely known is an increasingly popular option that offers an environmentally friendly way to package products.

Green packaging includes recycled and biodegradable materials such as paper, glass, cardboard, and compostable plastics.

Additionally, businesses are increasingly using green packaging to improve sustainability while also reducing their carbon footprint. This shift has caused a surge in demand in the green packaging market which necessitates innovative technology and new materials to meet the growing needs of consumers. As businesses continue to prioritise sustainability and consumers look for greener options, the market for green packaging is expected to continue rising in the years ahead.

The Green Packaging Market - Statistics and Growth

The current value of the green packaging market sits at a huge \$224.9 billion at the end of 2018. The market is expected to see an increase in the growth rate of 5.75% by 2024. This growth forecast is mainly down to the huge increase in consumer awareness of recyclable packaging and the desire to be more sustainable in their purchasing.

Environmentally friendly packaging has been gaining traction over the past few years with both consumers and manufacturers alike increasingly recognising the environmental harm caused by single-use plastic material. As awareness increases, more and more people are taking steps to replace non-biodegradable materials with recyclable alternatives in their everyday lives.

Eco-packaging is not only beneficial for our environment, but it can also minimise costs associated with producing, disposing, and replacing resources over time. Ultimately, green packaging is a win-win solution that benefits the planet and conscious businesses looking to modernise their operations.
In addition to the change of consumer opinions to non-recyclable packaging, there have been much stricter regulations introduced for packaging which encourages companies to instil more environmentally friendly practices.

Packaging and product brands also note the benefits of being seen as pro-recycling and the impact this can have on their sales levels with many introducing sustainability initiatives in their manufacturing to-sales processes.

What Sectors can Influence the Quickening of Demand?

The packaging sector has made some huge steps towards an environmentally friendly solution in its operations. They have access to many sustainable materials for use in the production of their packaging and now look to create thinner and lighter packaging products including bags and films.

The food industry can switch to more green packaging materials and processes to reduce their environmental impact. Green packaging materials are made from renewable resources such as paper, bamboo, and plant starches instead of traditional petroleum-based plastics that release chemicals into the environment during production and disposal.

Green packaging processes include using fewer one-time-use components, choosing reusable and recyclable materials, and utilising efficient raw materials used for manufacturing. Making these changes can also benefit businesses financially by minimising waste and eliminating extra costs associated with excess materials or frequent supply orders.

Additionally, green packaging can improve customer experience by promoting the visibility of ingredients and information regarding the origin, nutritional value, recipes, safety standards, etc. Therefore, the food industry needs to consider available green packaging resources to ensure benefits both short-term and long-term.

The food industry uses a huge amount of packaging types for food items in restaurants, fast-foods, and supermarkets. The preferred choices for the industry are reusable containers and laminated aluminium foil bags, which help to keep food warm. Despite the intentions to improve the use of recycled packaging in the food industry only 20% of the current plastic food packaging market is recyclable or reusable.

The levels of green packaging usage in the food sector vary hugely from the area, with the North American market currently being the biggest user.

Why is the Use of Green Packaging so Vital?

Reusable and sustainable packaging is an increasingly important element of the global effort to reduce waste, respect the environment, and fight climate change. Packaging is necessary for nearly all products, but businesses must strive for more environmentally friendly solutions.

Reusing materials that would normally be discarded greatly reduces waste sent to landfills and limits the use of natural resources in production. Producing new packaging takes energy, resources, and money while recycled packaging avoids those costs while helping to conserve the Earth's natural resources. Companies must actively look for ways to reduce their environmental impact through green initiatives such as moving towards reused or recycled materials when it comes to packaging products designed for consumers.

This not only has an immediate impact on protecting wildlife and landscapes but also helps us to create a better future. Green packaging use is increasing, which is great to see, but it needs to continue to do so until it becomes the norm in the packaging industry.

The use of plastic packaging such as plastic bags or single-trip packaging needs to be swapped for sustainable packaging solutions as soon as possible. The environmental benefits of moving towards recycled material or natural materials being manufactured instead will lower landfill rates and create a positive environmental footprint for our future.