China Dominates the Green Packaging Market in APAC | Technavio

LONDON–(BUSINESS WIRE)–#Greenpackaging–The green
packaging market in APAC is expected to grow at a CAGR of more than
12% from 2017-2021, according to a new market research report by
Technavio.

Green packaging market in APAC segmentation by product and geography

Technavio’s report on the green packaging market in APAC analyses the
business dimensions and presents a comprehensive breakdown in terms of
market segmentation by product, including recyclable packaging, reusable
packaging, and degradable packaging. In 2016, the recyclable packaging
segment accounted for approximately 78% of the green packaging market in
APAC. This was primarily due to the popularity of recycling among
vendors and its proven benefits such as energy conservation and reduced
carbon footprint. Customers are more familiar and comfortable with
recycling because it is a concept they understand, and they have seen
its end products in real-time.

Based on geography, the green
packaging market in APAC has been segmented into China, India, and
others. In 2016, the green packaging market in APAC was led by China and
the market in China is predicted to grow at a CAGR of more than 9%
during the forecast period.

“China possesses a large population that is still growing. Increasing
urbanization and improving access to a retail environment has led to an
increase in demand for consumer-packaged goods. This has proportionally
increased the demand for packaging. To combat the waste generated due to
the huge volumes of packaging, the government and the corporations are
carrying out initiatives to promote green packaging. The authorities
have also adopted rules and regulations regarding the ecological
characteristics of packaging, which are different from norms existing in
other countries,” says Sharan Raj, a lead analyst at Technavio for packaging
research.

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Green packaging market in APAC: competitive vendor landscape

The green packaging market in APAC is fragmented and consists of both
large as well as small players. The large players have the advantage of
a well-established supply chain and can easily invest in R&D to develop
innovative, sustainable packaging options. Small players are usually
companies that develop a product that provides them with a competitive
advantage in the market. Major corporations are carrying out campaigns
to promote the sustainable features of their packaging products. For
instance, Tetra Pak has teamed up with local garbage collectors in India
to ensure the proper collection of drink packaging for recycling.

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Other topics covered in the report:

Market drivers:

• Increasing plastic waste
• Customer preferences shifting toward sustainable packaging

Market challenges:

• Biodegradable materials are expensive
• Compromising packaging quality

Market trends:

• Rising demand for bioplastics
• Edible packaging

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