China Dominates the Green Packaging Market in APAC | Technavio

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.

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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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