U.S. demand for green packaging to reach $41.7 billion in 2014
Demand for green packaging—defined here as packaging that comprises recycled content, or reusable or degradable packaging—is projected to increase 3.9% yearly to $41.7 billion in 2014, consuming 58 billion lb of material. That’s according to “Green Packaging,” a new study from The Freedonia Group, Inc. The study adds that growth will outpace overall packaging demand but will remain relatively moderate due to the maturity of many products and the large existing presence of recycled-content packaging in paperboard and metal packaging. The fastest gains are anticipated for degradable packaging and plastic recycled-content packaging.
Bioplastics demand will grow, but not all bioplastics are created equal
According to the report, entitled "The Future of Bioplastics for Packaging to 2020: Global Market Forecasts" and available from Pira International, global demand for bioplastic packaging is forecast to reach 884,000 tonnes by 2020. This translates to a compound annual growth rate of 24.9% from 2010-15 slowing to a CAGR of 18.3% in the five years to 2020. According to the study, a new breed of bioplastics will be major drivers as packaging market demand gradually shifts from biodegradable and compostable polymers towards biopackaging based on renewable and sustainable materials.