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Change in Consumer Preferences towards Recyclable and Eco-Friendly Materials Propel the Growth of Sustainable Packaging

The sustainable packaging market is estimated to reach USD 303.60 Billion by 2020, with a projected CAGR of 7.17% from 2015 to 2020. Factors such as government initiatives towards reuse and recycling of packaging products, downsizing of packaging, and breakthrough in new technologies are driving the market. Application of sustainable packaging in the food & beverage segment dominated the market in 2014. In terms of function, the active packaging segment, which consists of barrier packaging, anti-microbial packaging, and modified atmosphere packaging (MAP), held the largest share in 2014. This domination is mainly due to growing packaged food and beverage industry, particularly in emerging markets such as China, Brazil, and India.

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Change in Consumer Preferences towards Recyclable and Eco-Friendly Materials Propel the Growth of Sustainable Packaging

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  1. Change in Consumer Preferences towards Recyclable and Eco-Friendly Materials Propel the Growth of Sustainable Packaging Market Sustainable Packaging plays a very important part in retaining a long shelf life of products along with decreasing the negative impact of plastic and other chemical packaging on the environment. Sustainable Packaging is also known as Eco Friendly or Environmental or Green Packaging. Sustainable packaging is the development and use of packaging which results in improved sustainability. This involves increased use of life cycle inventory (LCI) and life cycle assessment (LCA) to help guide the use of packaging which reduces the environmental impact and ecological footprint. The sustainable packaging market was valued at USD 201.60 billion in 2014, and is projected to grow at a CAGR of 7.17% from 2015 to 2020.Sustainable packaging plays a very important part in retaining a long shelf life of products along with decreasing the negative impact of plastic and other chemical packaging on the environment. To Know More about Sustainable Packaging Industry, Download PDF Brochure@ http://www.marketsandmarkets.com/pdfdownload.asp?id=177372752 Market Drivers: • Government Initiatives towards Sustainable Packaging • Shift in Consumer Preferences towards Recyclable and Eco-Friendly Materials • Downsizing of Packaging • Breakthrough in New Technologies Application • Food & Beverage packaging • Healthcare packaging • Personal care packaging • Others (electronic appliances and home care packaging) Request Sample@ http://www.marketsandmarkets.com/requestsample.asp?id=177372752 Stringent regulations regarding sustainability, coupled with changing preferences towards more sustainable packaging materials are some of the major factors for growth of the sustainable packaging industry. Degradable packaging is the fastest-growing process in the sustainable packaging market. Key Players: Amcor Limited (Australia), Bemis Company, Inc. (U.S.), Tetra Laval International S.A. (Switzerland), Mondi plc (South Africa), WestRock Company (U.S.), BASF SE (Germany), Sonoco Products Company (U.S.), Smurfit Kappa Group PLC (U.S.), Sealed Air Corporation (U.S.), and Huhtamaki OYJ (Finland). For a discussion on above data, Speak to our Experts@ http://www.marketsandmarkets.com/speaktoanalyst.asp?id=177372752

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