A report from market research company Pike Research anticipates that eco-friendly packaging will double in revenues between 2009 and 2014 to US$170 billion.
“The sustainable packaging sector is growing much faster than the overall packaging industry, with eco-friendly plastic packaging expected to show the strongest segment increases,” Pike Research managing director Clint Wheelock said.
“More eco-friendly plastic packaging will have a huge impact because it represents more than a third of the total global packaging industry, second only to paper packaging.”
Sustainable packaging is gaining momentum in the US market.
In early 2009, Wal-Mart began expanding the release of its Packaging Scorecard into international markets, achieving roughly 8,200 unique vendor company users within six months.
In December, the Sustainable Packaging Coalition, a US industry working group whose executive committee includes representatives from Microsoft, Unilever, McDonald’s, Procter & Gamble, SC Johnson, and Dupont, released its Metrics Framework for brand owners and retailers.
Source: New Zealand Trade & Enterprise