The infographic below contains key findings from our analysis of the green packaging market in APAC
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Overview of the green packaging market in APAC
Brands offering sustainable eco-friendly and biodegradable packaging are gaining prominence among end-users due to the shifting consumer preference towards eco-friendly packaged goods. To fulfill the increasing consumer demand for sustainability, vendors are offering sustainable packaging options. Technavio’s market study identifies the shifting customer preference towards sustainable packaging to be one of the primary growth factors for the green packaging market in APAC. For instance, Tetra Pak gained prominence when they shifted their packaging to sustainable options. The market analysts estimate that the market will grow steadily at a CAGR of more than 12% by 2021.
Edible packaging is an innovative form of packaging that can be consumed once the product is removed. Edible packaging efficiently reduces waste derived from small packaged food items. Food giants such as KFC are introducing edible and sturdy bowls made of tortilla in Indian outlets. These bowls can effectively hold the food contents and can be consumed afterward. With the help of technological developments, agricultural feedstock and by-products from food processing can be used as edible packaging materials. The advent of edible packaging is identified to be one of the key trends positively impacting the growth of the green packaging market in APAC.
Competitive landscape and key vendors
The green packaging market in APAC is significantly fragmented owing to the presence of several international, regional, and local vendors. International vendors have established their market presence with strong supply chain and huge investments in R&D. To gain technical expertise and attain a competitive advantage, the players in this eco-friendly packaging market are increasingly engaging in M&A activities.
The leading vendors in the market are
- Amcor
- Berry
- DS Smith
- Sealed Air
- Tetra Pack
The other prominent vendors in the market are Bemis Company, DuPont, International Paper, Mondi, and Smurfit Kappa.
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Segmentation by product type and analysis of the green packaging market in APAC
- Recyclable packaging
- Reusable packaging
- Degradable packaging
Recyclable packaging segment will account for the maximum share of the green packaging market in APAC. Factors such as the increasing popularity of recycling among vendors and consumers, environmental benefits such as energy conservation and reduced carbon footprint, and cost-effectiveness of materials will contribute to the growth of this market segment.
Geographical segmentation and analysis of the green packaging market in APAC
- China
- India
China will be the major revenue contributor to this eco-friendly packaging market and this will be influenced by the increasing urbanization and the growing adoption of green packaging techniques. Government and several corporates are focusing extensively on green packaging to minimize the waste generated by traditional methods of packaging. Also, the introduction of strict regulations to reduce pollution and adopt sustainable alternatives, will also propel the growth of the green packaging market in APAC in this country in the coming years.
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Key questions answered in the report include
- What will the market size and the growth rate be in 2021?
- What are the key factors driving the green packaging market in APAC?
- What are the key market trends impacting the growth of the green packaging market in APAC?
- What are the challenges to market growth?
- Who are the key vendors in the green packaging market in APAC?
- What are the market opportunities and threats faced by the vendors in the green packaging market in APAC?
- Trending factors influencing the market shares of APAC.
- What are the key outcomes of the five forces analysis of the green packaging market in APAC?
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