Sustainable packaging market to reach $170 billion by 2014, says study

Packaging for a variety of consumer, commercial, and industrial goods continues to grow rapidly, fueled largely by the increase in demand for consumer goods in developing countries. According to a recent report from Pike Research, worldwide packaging industry revenues will increase from $429 billion in 2009 to $530 billion by 2014, representing a growth rate greater than that of the global economy itself.

Along with this growth comes an ever-greater burden on the environment in the form of raw materials, energy, transportation, and disposal impacts. However, Pike Research forecasts that the sustainable packaging sector is growing much faster than the overall packaging industry, and the cleantech market intelligence firm anticipates that eco-friendly packaging will nearly double in revenues between 2009 and 2014, from $88 billion to $170 billion.

"The sustainable packaging challenge is one that must be solved by multiple parties in a spirit of cooperation," says managing director Clint Wheelock. "The move toward more environmentally responsible packaging is being embraced by consumers, manufacturers, retailers, advocacy groups, and world governments alike."

Pike Research anticipates that plastic-based packaging will be the fastest-growing segment of the sustainable packaging sector between now and 2014. "More eco-friendly plastic packaging will have a huge impact," says Wheelock, "because it represents more than a third of the total global packaging industry, second only to paper packaging."

Pike Research’s study, "Sustainable Packaging," assesses the global market opportunity for more environmentally-friendly packaging. An Executive Summary of the report is available for free download on Pike Research’s website.

SOURCE: Pike Research