Green packaging: Growing quick, unaffected by bad economy

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Green packaging: Growing quick, unaffected by bad economy

Consumers, regulators and marketers are driving swift growth in “green” packaging worldwide, reports enorm. The sustainability blog cites multiple studies to support its conclusions.

In a recent report, Pike Research claims that the global market for sustainable packaging is growing fast, much faster than the overall packaging industry. The report indicates that the market may double in size from $88 million in 2009 to $170 billion in 2014.

According to another report presented by Global Industry Analysts (GIA), the market seems unaffected by the economic crisis and is likely to reach $142.42 billion by 2015.

Increased awareness about the damage done to the environment when disposing and recycling of packaging wastes is mentioned as a reason for this quick growth, as are stricter regulations and government initiatives to cut down greenhouse gas emissions.

The largest category in green packaging is recycled material, which, in the United States, makes up almost 90 percent of the total demand. Quickly catching up are biodegradables, of which especially bioplastics are increasingly in demand.

Although Europe and the U.S. account for more than 70 percent of the global sustainable packaging market, the GIA report expects Asia-Pacific to grow the fastest, due to among other things the region’s increased awareness about environmental concerns, government initiatives, growing economies, and population size.

The GIA report also states that the pressure on manufacturers to use green materials is increasing as sustainable packaging is becoming a powerful global trend and, for this reason, many companies are using green packaging as a marketing tool.

This could be one of the reasons why EL Insights, from Environmental Leader, says that 37 percent of all products by big retailers in the U.S. will have sustainable packaging by 2015.

Source: enorm

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