The research suggests demand for green packaging is projected to rise 5.7% per year to $212bn in 2015. Advances will be driven by growth in manufacturing activity and trends toward environmentally friendly packaging.
While recycled content packaging will remain by far the largest product type through the forecast period and beyond, this segment will see the slowest increases, due to the maturity of many products.
Above average demand growth is expected in reusable and degradable packaging. In particular, demand for degradable packaging will continue to see double digit annual growth rates.
Growth in recycled content packaging will be supported by increased collection activity and processing capacity, coupled with greater use of recycled content packaging by firms seeking to demonstrate environmental responsibility and differentiate their products.
Also supporting advances will be initiatives by industry associations, brand owners, packaging firms and others to promote recycling initiatives in order to raise the recycling rates of different types of packaging materials. Demand for reusable packaging will be boosted by an acceleration in global manufacturing activity.
Gains will be driven by greater price competitiveness with petroleum-based resins, capacity expansions, and enhanced performance properties brought about by the use of additives, improved polymerisation and new blending techniques.
The Asia/Pacific region will see the most rapid gains and remain the largest regional market in the world, due to its large food and beverage markets (which represent the main green packaging applications).
Central and South America, Eastern Europe, and the Africa/Mideast region will also experience above average growth, though advances in these areas will stem from smaller bases.
Overall, the fastest growth will be seen in Asia, specifically in India, China and Indonesia. Other developing countries such as Russia, Brazil and Mexico are also expected to see healthy gains.
In contrast, advances will generally be below average in North America and Western Europe, where markets are more established. The US, which accounted for 23% of global sales in 2010, is the largest national green packaging market in the world by a wide margin. Other large, but generally mature markets include Japan and Germany.
While Japan will remain one of the largest national markets in the world, the country is forecast to see the slowest growth rate through 2015. Good opportunities will still be found in developed countries, especially for degradable packaging products such as films, containers and foodservice disposables.
Source: MarketResearch.com
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