According to a new market research report titled, ‘Global Green (Sustainable) Packaging Market 2010-2014,’ available from Research and Markets, the global green packaging market will grow at a compound annual growth rate of 14% for the reporting period 2010-2014.
The necessity to meet the regulatory standards is one of the major drivers of the green packing market. The market also witnesses the standardization of green packaging. However, higher production costs are the major barrier to the expansion of this market. The report covers regions, including APAC, EMEA and the Americas. It also focuses on the current market scenario and its growth potential.
As per the report, the global green packaging market is anticipated to grow continuously due to the evolution of novel packaging concepts. The packaging industry is experiencing a change in the utilization of some recyclable materials such as glass. Most of the retailers have been advancing and incorporating modifications in their packaging needs to improve the overall system.
Companies, including Wal-Mart, Marks & Spencer, ConAgra and Kraft Foods have been contributing to the improvement of packaging. The report also covers the environmental problems caused by the packaging production technologies and their impact on market growth. Sonoco Products, Sealed Air, Bemis and Ball are some of the packaging companies mentioned in the report.
TechNavio's analyst commented that most of the producers are executing environmentally- efficient processes to include green packaging by utilizing recyclable materials, setting targets for waste reduction and decreasing CO2 emissions. Moreover, consumers’ awareness about green packaging is growing due to their high disposable incomes and health consciousness.