Last fall, Transparency Market Research identified these five areas in sustainability that currently affect packaging:
• Increasing environmental concerns and effective regulatory policies implemented by governments will significantly boost demand for eco-friendly packaging in coming years.
• Technological advancements in the production of green packaging materials that reduce harmful gases will fuel the market.
• On the other hand, higher production costs associated with environmentally friendly packaging materials will affect profit margins. This factor may have a negative impact and hinder innovation in the sustainable packaging market in next few years.
• In addition, limited awareness among people regarding types of sustainable packaging has limited its growth. However, concrete steps taken by governments to increase awareness and educate people about the positive effects of green packaging should make a difference.
• According to the regional analysis, the U.S. is leading in sustainable packaging, with numerous companies operating in industrial and manufacturing sectors. Moreover, countries in the Asia Pacific region are also considered as offering lucrative options for the green packaging market.
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