The global green packaging film industry is poised for significant growth, with experts projecting a revenue of US$ 11,767.2 million by 2024 and a promising CAGR of 5.90% through 2034, reaching a forecast valuation of US$ 20,875.3 million. This trajectory is driven by the convergence of two pivotal trends: the implementation of stringent plastic packaging waste regulations worldwide and a surge in consumer demand for eco-friendly products.
In response, consumer-packaged goods (CGP) companies are swiftly adopting sustainable packaging materials and investing in specialized equipment to align with evolving standards and meet consumer expectations for environmental responsibility.
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Key Takeaways from the Green Packaging Film Market Report:
- The North American region displays its supremacy in the global green packaging film market by acquiring a share of 24.10% in 2024. The United States is expected to expand within the region at a CAGR of 2.70% through 2034.
- Germany is predicted to register a CAGR of 3.60% through 2034, whereas the United Kingdom is anticipated to record a CAGR of 3% through 2034. Regionally, Europe is predicted to obtain a share of 21.30% in 2024.
- China and India are the leading Asian countries that display relatively higher CAGRs of 6% and 6.5% through 2034. These countries demonstrate significant potential both as a consumers and as a producers of green packaging films.
- Pouches are the leading product type that consumers of green packaging films prefer. FMI analysts report pouches to record a share of 24.40% in 2024.
- The food sector is the leading consumer of green packaging films, contributing to significant overall product sales. The segment is predicted to account for a top share of 32.60% in 2024.
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Industry Trends:
- Bio-Based and Recyclable Materials: The industry is witnessing a shift towards bio-based and recyclable materials, with a focus on reducing the environmental impact of packaging films and meeting the demand for circular economy practices.
- Smart Packaging Technologies: Integration of smart packaging technologies, such as RFID and QR codes, in green packaging films is on the rise, enabling better traceability, information sharing, and enhancing overall supply chain efficiency.
- Minimalist and Sustainable Design: A trend towards minimalist and sustainable design in packaging is emerging, influencing the aesthetic and functional aspects of green packaging films to align with eco-conscious consumer preferences.
- Emphasis on Lightweight Packaging: The industry is placing a greater emphasis on lightweight packaging solutions to reduce material consumption, transportation costs, and overall environmental footprint, contributing to the sustainability goals of businesses.
- Circular Economy Initiatives: Increasing focus on circular economy initiatives, including closed-loop recycling systems and extended producer responsibility (EPR) programs, is shaping the green packaging film market, driving the adoption of more sustainable and circular practices.
The Key Payers Are:
- Amcor
- Bemis
- Berry Global
- CCL Industries
- Constantia Flexibles
- Dow Chemical
- DuPont
- Eastman Chemical
- ExxonMobil
- Innovia Films
- Mondi
- Sealed Air
- Smurfit Kappa
- Tetra Pak
- Toppan Printing
- UFlex
- Cosmo Films
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Key Segmentations:
By Product Type:
- Bags
- Pouches
- Wrapping Films
- Liners
- Other product types
- Bags
By Material:
- Poly Lactic Acid (PLA)
- Starch Blend
- Polybutylene Adipate Terephthalate (PBAT)
- Polyhydroxyalkanoates (PHA)
- Other Plant-Based
By End Use:
- Food
- Beverages
- Pharmaceutical
- Personal Care and Cosmetics
- Building and Construction
- Other Industrial
By Region:
- North America
- Latin America
- Europe
- Asia Pacific Except Japan
- Japan
- The Middle East and Africa
Author
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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