Africa Baby Care Products Market - Infinium Global Research Green packaging market | Page 2

will help a lot of decision makers to develop strategies and find new
opportunities in the Global Green packaging Market.
Green packaging also refers to sustainable packaging which uses materials
that are less harmful to environment and consume low energy. According to
the report the global green packaging market is projected to grow with a
CAGR between 5.0% and 5.5% from 2017 to 2023. In the year 2015, the
global green packaging market was worth USD 131.55 billion.
Market Insights
The report identified that the green packaging market is driven by factors
such as, rising demand for green packaging products from the various end
use industries, increasing awareness among the general population about
environmental friendly packaging, and technological advancements in bio
plastics. On the other hand, the restraining factors identified in the study
include high production and set up cost for green packaging industries,
inefficiency of recycling industries to process solid waste, coupled with lack of
government initiatives for recycling and adopting green packaging in
developing countries. Rising demand for green packaging products in the Asia
Pacific and South American countries provide opportunity for major players in
the emerging and developing economies.
Infinium Global Research