The green packaging market continues to grow as businesses respond to increasing consumer demand for sustainable, eco-friendly products.
The global green packaging industry was valued at over $253.8 billion in 2021 and is expected to reach $561.6 billion by 2031, according to a report from Research Dive. Aside from consumer demand, sustainable packaging has gained popularity for cost-effectiveness and for helping companies meet sustainability goals. Reusable packaging, for instance, allows companies to purchase less packaging overall while helping them reduce their carbon footprint.
Green packaging uses sustainable, eco-friendly materials, such as biodegradable plastics, bamboo, sugar cane, or recycled products, to create products with minimal impact on the environment. With consumer concern over the environmental impact of single-use plastics and other non-biodegradable materials, green packaging provides a favorable alternative.
The food and beverage industry continues to maintain the largest share in the global green packaging industry, followed by pharmaceuticals and personal care. Europe also remains the most dominant regional player as its governments tighten regulations on single-use plastics, including bans on certain single-use plastics.
Biome Technologies plc (LON:BIOM) is a growth oriented, commercially driven technology group. The Group’s primary activity is the development of its fast growing business in bioplastics. The Group comprises two divisions: Biome Bioplastics and Stanelco RF Technologies.
