Global Environmentally Friendly Packaging market overview 2024, Forecast To 2033

The environmentally friendly packaging market has experienced robust growth, expanding from $229.81 billion in 2023 to $246.06 billion in 2024, reflecting a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period is ascribed to the heightened awareness among consumers regarding environmental impact, government regulations, the adoption of circular economy principles, shifts in consumer preferences, and an increased focus on the healthcare sector. Foreseeing continued strong growth in the next few years, the market size is projected to reach $331.07 billion in 2028, sustained by a consistent CAGR of 7.7%. Factors contributing to this growth include the rising fast-moving consumer goods (FMCG) sector, the expansion of the food industry, the growth of e-commerce, the thriving electronics industry, and an increase in disposable income. Major trends in the forecast period encompass the utilization of plant-based and biodegradable materials, minimalist packaging, the adoption of smart packaging, the use of lightweight packaging, and a focus on transparency and eco-labeling.