Sustainable Packaging Market Continues to Boom
A Market Increase of One Hundred Billion is Expected by 2020
Marketsandmarkets.com recently released a report titled “Sustainable Packaging Market by Material, Process, Function, Application and Layer – Global Forecast to 2020.” In the report, the market was stated to be valued at 201.9 Billion in 2014. This number is expected to rise to 303.6 Billion by 2020. Additionally, it’s expected to grow at a CAGR of 7.17% from 2015 to 2020. Factors affecting this growth include laws regarding sustainability, a growing packaging industry and change in consumer preferences toward sustainable and eco-friendly packaging materials.
The market for paper and paperboard is projected to witness the highest growth from 2015 to 2020. To read the full report, please go HERE.