New market research forecasts the global green packaging industry will grow from $109 billion in 2011 to $178 billion by 2018. The market will expand at a compound annual growth rate of 7.6 percent from 2013 to 2018, the report by Albany, N.Y.-based Transparency Market Research estimated. In 2011, Europe accounted for the largest share of the global green packaging market with $41 billion spent, and North America was second with nearly $33 billion. The report said factors such as growing awareness about carbon emissions, energy consumption, and waste reduction, targets continue to push companies to adopt green packaging. The Asia Pacific region, fueled by high anticipated growth in countries like China, India, and Indonesia, will see the greatest industry growth from 2013 to 2018, according to the report.
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