Green Packaging Market in APAC 2017-2021
Green packaging is a form of packaging that utilizes manufacturing methods or materials that have a low impact on the environment. Green packaging is developing as an important industry because of the problems faced due to pollution generated by packaging, especially in the developing countries. The green packaging market in APAC is considered in the report. Major developments in sustainable packaging techniques in Asian countries are considered, and the present and forecast market size of the industry is provided.
Technavio’s analysts forecast the green packaging market in APAC to grow at a CAGR of 12.33% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the green packaging market in APAC for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Green Packaging Market in APAC 2017-2021
Technavio recognizes the following companies as the key players in the green packaging market in APAC: Amcor, Berry, DS Smith, Sealed Air, and Tetra Pack.
Other Prominent Vendors in the market are: Bemis Company, DuPont, International Paper, Mondi, and Smurfit Kappa.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is rising demand for bioplastics. Bioplastics are plastics that are partially or wholly based on organic biomass rather than petroleum. A good number of bioplastics are biodegradable, which is one of their main advantages over the traditional petroleum-based plastics. Initially, bioplastics were manufactured from agricultural and renewable resources, such as soybeans, corn, and sugarcane, which later shifted to non-food sources, such as sawdust, castor beans, as well as by-products like peels and husks.”
According to the report, one driver in the market is increasing plastic waste. Addressing plastic waste generated due to packaging is one of the main focuses of packaging companies. Plastic waste from packaging presents a dual challenge to companies in terms of disposal and recycling. The global plastic packaging market sales value is estimated to grow to $375 billion by 2020. This growth will lead to an increase in plastic waste, thereby posing a serious threat to the environment, if alternate green methods are not developed or waste disposal and recycling techniques are not improved.
Further, the report states that one challenge in the market is biodegradable materials are expensive. Biodegradable materials are materials that can be broken down naturally by organisms such as bacteria or fungi. Every country has different standards to measure biodegradability; however, on an average, 60% to 90% of the substance is supposed to degrade within 90 to 180 days. There are several types of biodegradable bio-plastic products in the market, which include trays, plates gloves, takeout food packaging, and more. Raw materials, such as PLA, PHA, starch, and PBS, procured for the manufacture of green packaging have fluctuating prices.
Amcor, Berry, DS Smith, Sealed Air, Tetra Pack, Bemis Company, DuPont, International Paper, Mondi, and Smurfit Kappa.
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