Procurement News – July 8, 2011
Sustainable and green packaging is gaining prominence in the global packaging market and is experiencing a rise in demand from consumers, according to Visiongain, which calculates that the sustainable & green packaging market will be worth $107.7bn in 2011.
Although the market was negatively impacted by reduced margins due to pressure from higher production costs involved, a newly published Visiongain report notes that the sustainable & green packaging industry still “stands firm” and is likely to enhance its market share in the global packaging industry.
Rising concerns over environmental hazards, eco-friendly packaging, carbon emissions, waste reduction targets specified by different countries and the trend towards ‘green packaging’, are the factors likely to boost the market for sustainable & green packaging.
“The sustainable & green packaging market is likely to register consistent growth during 2011-2021, mainly influenced by rising environmental concerns, increasing health awareness, high disposable incomes, rapidly growing economies, dearth of natural resources and high-energy consumption. The North American and Western European economies are successfully established markets.
However, the growing economies of Asia-Pacific (India and China), Eastern Europe (Germany and Russia) and Latin America (Brazil) offer tremendous potential to explore, Visiongain’s Sustainable & Green Packaging Market 2011-2021 stated.
The study went on to point out that the sustainable & green packaging market was “relatively immune” to the recent economic downturn as demand held up as consumers’ increasing concerns about personal, as well as environmental, health and wellness drove the need for sustainable packaging: “Moreover, technological advancements related to lightweight packaging will further boost the demand in the industry. Furthermore, key industry players and manufacturers are opting for better materials made from renewable sources for packaging purposes thus keeping them out of the landfills.”
For more information about this report please visit http://www.visiongain.com/Report/638/The-Sustainable-Green-Packaging-Market-2011-2021