Green packaging market set for significant growth
According to Coherent Market Insights, The global green packaging market is estimated to account for 410.45 Bn in terms of value and by the end of 2027 witnessing a CAGR of 6.71%.
Green packaging is the design and use of sustainable packaging. This includes increased usage of lifecycle assessment and lifecycle life cycle analysis to assist guide the usage of green packaging that minimises the environmental impact and environmental footprint of users, and promotes a sustainable social, economic and corporate performance.
This also requires the use of eco-friendly products and methods of creating and shipping green packages. Green packaging has been associated with a variety of different strategies, including the reduction of product consumption, the creation of user-friendly and cost-effective packaging, and the use and reuse of resources.
The increased demand for sustainable packaging materials and practices has led to the need for consumers to be informed about the benefits and advantages of buying green. There has been an increase in the awareness of consumers regarding their consumption of resources and their impact on the environment. With the increased levels of disposable income available to most consumers today, they are looking for ways to save money in every way possible. In addition to this, the increasing popularity of green products, such as reusable bags, has helped consumers to feel that they are making a difference in the environment.
Furthermore, consumers are looking for environmentally friendly and sustainable packaging materials that contribute positively to a better quality of life.