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Packing it Responsibly – Green Packaging Market Set to Flourish in 2017-21
What makes a product stand out from the rest? Easy availability, value for money, and undoubtedly good quality are clearly the three vital things which every buyer looks for. With improvements and innovations in transportation and logistics sector, several manufacturers are now able to expand their client base across the globe. And one small detail which has undoubtedly boosted the scalability of a product is its packaging. What’s in that box? A good packaging is like a beautiful gift wrap. It not only adds to the aesthetic value but also arouses a lot of anticipation about the product. But for a product to sell better, packaging should also improve its shelf-life and comply with the environmental norms. Manufacturers are diligently working with technologies which can be tailored to meet their specific wants. And therefore, innovative packaging solutions have emerged into an industry of its own. For instance, electronic devices are notorious for losing their life due to constant electrostatic discharge (ESD). Similarly, until recently coffee pods attracted a lot of criticism due to their non-degradable packaging. Dow Chemical, Desco Industries, and BASF are some of the prominent manufacturers of ESD packaging. Preference for green packaging, on the other hand, is gaining prominence among the FMCG manufacturers. Perfect for miniature semiconductors, PCBs, smart wearables, and smartphones, ESD packaging reduces the static charge along with providing the right amount of cushioning to the products. Available in the form of bubble bags, foams, and tapes, the global market for ESD packaging is expected to grow at a CAGR of more than 8% by 2021. With increasing number of smart cities, short life of electronic products, and high adoption of technology in automobiles, experts at Technavio expect the demand for ESD packaging to increase rapidly. Green is the wrap! Brands are continuously looking for ways to improve their overall goodwill and make an impression in the minds of their customers. Green packaging is one small step towards not only improving the overall brand image but also bringing down the GHG emissions. The emergence of bio-based and renewable raw materials along with adoption of compostable materials have furthered the demand for green packaging solutions. So much is the preference for the green wrap that analysts at Technavio predict the global green packaging market to grow at a CAGR of 8% by 2021. If you are yet confused on which packaging solution is apt for your area of business, then read the in-depth reports prepared by our highly skilled team of market analysts.
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