Research firm TechNavio, in its new market analysis entitled, “Global Green Packaging Market 2015-2019” indicates an expected 7.84% CAGR growth until 2019 in the food and beverage industry’s demand for eco-friendly packaging.
According to the study’s definition, Green packaging technology involves the use of materials that can be easily bent or molded like paper, plastic, metal, and glass, to reduce toxic emissions. A number of large food and beverage product manufacturers have taken a proactive step by developing green products for preserving food and its nutritional value contributing to the increased demand.
Faisal Ghaus, Vice President of TechNavio said,
“Companies like Cadbury, Coca-Cola, ConAgra Foods, Nestlé, and PepsiCo use sustainable packaging materials, which give them a competitive advantage over other market players.”
TechNavio’s report also emphasized the introduction of government regulations regarding extended producer responsibility or EPR. This policy mandates manufacturers to shoulder both the costs for recycling as well as the safe disposal of their products.
Ghaus also said,
“As a consequence of stringent policies, many manufacturers prefer using green packaging materials for sustainable products rather than incurring the additional expense of handling the packaging at the end of its life cycle.”