The “sustainable and green packaging market,” as it is referred to by independent business information provider Visiongain, will be worth $107.7 billion in 2011. A new study from the company, “The Sustainable & Green Packaging Market 2011-2021,” indicates that sustainable and green packaging are gaining prominence in the global packaging market and are gradually becoming an essential area for industry players. Says Visiongain, “Although the market was negatively impacted by reduced margins due to pressure from the higher production costs involved, the sustainable and green packaging industry still stands firm and is likely to enhance its market share in the global packaging industry.”
The report says that the market is likely to register consistent growth from 2011 through 2021, due to rising environmental concerns, increasing health awareness, high disposable incomes, rapidly growing economies, a dearth of natural resources, and high energy consumption. Technological advancements related to lightweight packaging will further boost the demand in the industry. In addition, key industry players and manufacturers will continue to opt for better materials made from renewable sources for packaging purposes.
