Sustainable Packaging Grows Much Faster Than Rest Of Global Packaging Market

The market worldwide for sustainable packaging is growing much faster than the rest of the packaging industry. A recent report by Pike Research forecasts the environment-friendly packaging market to double in size from $88 billion in 2009 to $170 billion in 2014, while Global Industry Analysts predicts the market to reach $142 billion by 2015 despite the economic slowdown. Factors driving the market include growing awareness about environmental impact of packaging wastes and government rules and initiatives seeking to reduce greenhouse gas emissions. Europe and the U.S. account for over 70% of the world sustainable packaging market, with recycled material as its largest category; and biodegradables, the fastest-growing segment. EL Insights forecasts sustainable packaging will be used in 37% of products sold by big U.S. retailers by 2015.