In a recent report, Pike Research claims that the demand within the global market for sustainable packaging is growing at an increasing rate, much faster than the packaging industry as a whole. The report specifies the market may double from $88 million in 2009 to $170 billion by 2014.
Mentioned as a reason for such rapid growth are the increased concerns and awareness about the damaging affects done to the environment when disposing and recycling of packaging waste. Furthermore, stricter regulations and government initiatives to reduce greenhouse gas emissions.
One of the largest and fastest growing sectors in green packaging is recycled material, which, in the United States, is almost ninety percent of the total demand. Not far behind are biodegradables, of which bioplastics are increasingly in demand.
Europe and the United States account for more than seventy percent of the global sustainable packaging market; the GIA report expects Asia-Pacific to grow the fastest. One of the most prominent reasoning’s is the region’s increased awareness about environmental concerns, government initiatives, growing economies, and population size.
The GIA also reports that the pressure on manufacturers to produce with green materials is increasing as sustainable packaging is emerging as a powerful global trend and, for this reason many companies are using green packaging as a marketing tool.