With big-name brands such as Coca-Cola, Pepsi and Garnier recently unveiling plant-based bottles, the sustainable packaging industry has been making waves. According to a recent report, it's expected to grow consistently over the next decade.
The sustainable and green packaging industry has already reached a noteworthy height, valued at $107.7 billion this year, a report by Visiongain revealed. Through 2021, an increase in environmental and health concerns, higher disposable incomes, growing economies, more natural resources and higher energy consumption will all point to consumers' and manufacturers' growing interest in the industry, Packaging Europe reported.
"Technological advancements related to lightweight packaging will further boost the demand in the industry," the source noted. "In addition, key industry players and manufacturers will continue to opt for better materials made from renewable sources for packaging purposes."
Regions such as the Asia-Pacific, Eastern Europe and Latin America, which have yet to embrace green packaging efforts, are expected to jump on board throughout the next 10 years.
Coca-Cola, which launched its plant-based bottle in the U.S. this year, will soon expand its initiative to the U.K., according to MRW.