Europe to lead green packaging market; bioplastics to flourish

Per Allied Market Research, the recycle content packaging segment is expected to grow with a CAGR of 4.92 percent to reach $207,543 million globally by 2022.

Bioplastic is a new ecological alternative to oil-based polymers with promising growth in pharmaceutical sectors. Bioplastics have flourished in healthcare and pharmaceutical markets and are accepted as an alternative for polymer oil-based products. Reverse logistics and an increase in the number of legislations for ecological packaging techniques have facilitated the recycle of municipal wastes.

The European region is expected to continue to lead the green packaging market, followed by North America. The German green packaging market is estimated at a CAGR of 5.10 percent, while the Middle East region is estimated to grow at a CAGR of 3.15 percent. The North American and Asia-Pacific regions jointly accounted for more than half of the total 2015 share.

Rise in hygiene and health concerns among consumers boosts the demand for green packaging with applications in sustainable packaging.

 

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Source: Greentechlead