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Sustainable-packaging market to reach $170B worldwide by 2014

Pike Research study forecasts green-pack growth to nearly double from $88B last year.

PRESS RELEASE -- Converting Magazine, 1/5/2010 10:45:45 AM

Packaging for a variety of consumer, commercial, and industrial goods is not a well-understood or high-profile industry for most people, but it continues to grow rapidly, fueled largely by the increase in demand for consumer goods in developing countries. According to a recent report from Pike Research, worldwide packaging industry revenues will increase from $429 billion in 2009 to $530 billion by 2014, representing a growth rate greater than that of the global economy itself.

Along with this growth comes an ever-greater burden on the environment in the form of raw materials, energy, transportation, and disposal impacts. However, Pike Research forecasts that the sustainable packaging sector is growing much faster than the overall packaging industry, and the cleantech market intelligence firm anticipates that eco-friendly packaging will nearly double in revenues between 2009 and 2014, from $88 billion to $170 billion.

"The sustainable packaging challenge is one that must be solved by multiple parties in a spirit of cooperation," says managing director Clint Wheelock. "The move toward more environmentally responsible packaging is being embraced by consumers, manufacturers, retailers, advocacy groups, and world governments alike."

Pike Research anticipates that plastic-based packaging will be the fastest-growing segment of the sustainable packaging sector between now and 2014. "More eco-friendly plastic packaging will have a huge impact," says Wheelock, "because it represents more than a third of the total global packaging industry, second only to paper packaging."

Pike Research's study, "Sustainable Packaging", assesses the global market opportunity for more environmentally-friendly packaging. The report examines key market drivers and includes detailed five-year forecasts for the total packaging market as well as the sustainable packaging sector, segmented by packaging material categories and world regions. An Executive Summary of the report is available for free download on Pike Research's website.

Pike Research is a market research and consulting firm that provides in-depth analysis of global clean technology markets. For more information: www.pikeresearch.com

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