A new report from Smithers Pira, “The Future of Global Packaging to 2020,” forecasts steady growth across the sustainable packaging industry: A market valued at $839 billion in 2015 will increase at 3.5% year-on-year and reach a total value of $997 billion in 2020. As this happens, Smithers Pira notes, sustainability will become an increasingly important factor for decision makers at all stages of packaging value chains.
Says Smithers Pira, packaging materials are extremely visible to the consumer, and there are intense and growing pressures from consumers, retailers, packaged product suppliers, governments, regulators, non-government organizations, and environmental groups for the development of environmentally-friendly or green materials, packaging designs, and end-of-life processes to improve packaging sustainability by reducing its societal and environmental impacts.
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