Green Packaging Market Size, Share, Growth Analysis, By Packaging type(Recycled, Reusable, Degradable), By Application(Food & Beverages, Healthcare), By Region - Industry Forecast 2024-2031

Due to strict laws set by the European Union and other European countries regarding the use of single-use plastics, Europe dominated the market in 2021 with a revenue share of 36.7%. The circular economy concept was introduced by the European Directive, which also set sustainability objectives and criteria. By embracing recyclable, recycled, and biodegradable materials, European businesses have begun to follow the circular economy roadmap.

Due to an increase in government legislation and programs that are encouraging manufacturers to choose green packaging, Asia Pacific came in second place in terms of value in 2021. The world's largest center of manufacturing, China, is modifying its packaging practices and materials to be more environmentally friendly. This decision will have a significant impact on market growth in the area due to the sheer number of goods exported from China. The Australian government has established a goal of implementing 100% recyclable packaging by 2028 or earlier, which will cause a sharp increase in market value during the projection period.

Due to the active efforts made by the governments in the area, North America is on par in terms of green packaging market share with the Asia Pacific region. To promote recycling throughout the nation, the Canadian government has built several recycling infrastructures. Canada enacted a significant restriction on the use of polystyrene cups and containers in Vancouver in 2021 to reduce solid waste discharge by 2028. The region's demand is being driven by government measures that support customer preferences for environmentally friendly products and packaging.