Recyclable packaging market revenue growth predicted by 2027
Packaging is used extensively across industries including food, beverages, pharmaceutical, agro chemicals, household chemicals, sports, cosmetics, etc. A large chunk of waste generated by these industries comprise of packaging products and materials. Most parts of the world lack infrastructure to recycle these waste from packaging and hence packaging waste ends up in landfilling activities. Further, toxic waste emission by non-eco-friendly packaging causes land pollution.
Recyclable packaging can help reduce the waste produced due to packaging materials. In recyclable packaging the material used is re-entered into the production cycle. Recyclable packaging reduces operational cost thus improving efficiency and minimizing waste. Due to rise in plastic waste caused by packaging, market players around the world are now focusing on biodegradable and recyclable packaging material.
Recyclable Packaging Market: Dynamics
The global packaging market has its influence directly or indirectly over various sectors such as healthcare, retail, food & beverage, personal care, etc. The packaging market is expected to grow at a CAGR of 3% over the forecast period which is influencing the demand in the recyclable packaging market. The rise in the retail sector and rapid installation of modern retail stores in the APEJ region is fuelling the demand for the recyclable packaging market. The retail sector is expected to grow at a CAGR of 4% over the forecast period.
Market trends such as changing consumer lifestyle, procuring of goods in smaller quantity and increased consumer preference for eco-friendly stamped products is also supporting the demand for recyclable packaging market. Manufacturers, distributors, supplier and retailers are now focusing on materials which can be reused while retaining its traditional qualities to insulate against light, heat & moisture. The entrance of bioplastics can drive the demand for recyclable packaging market as it has smaller carbon foot print and consumes lesser energy than conventional packaging.
The rising concern of regularity authorities across the world on waste produced from non-eco-friendly material can provide abundant opportunities for the recyclable packaging market. However, packaging done using recyclable material can be of low in quality which might get less preference from the consumers thus hampering the recyclable packaging market. Lack of government restrictions especially in APEJ region on the use of non-eco-friendly material may pull the recyclable packaging market down. Ignorance of manufacturers for selection of packaging material can limit the growth of the recyclable packaging market.
Eastern & Western Europe is expected to lead the recyclable packaging market over the forecasted period due to the stringent policies implemented by the regulatory authorities against the use of non-ecofriendly material. North America & Japan is expected to witness steady growth for recyclable packaging market over the forecasted period due to rising awareness among the consumers for environment protection. APEJ region holds the huge potential for the recyclable packaging market as it has densely populated regions & untapped market. Implementation of environment-friendly policies in the region can shoot up the demand for recyclable packaging market.
Recyclable Packaging Market: Key Players
Some key players operating in the recyclable packaging market are Graham Packaging Company, Lacerta Group, Inc., Ebro Color GmbH, Salazar Packaging, Inc, 3M, Amcor, American Packaging Corporation., APP (Asia Pulp & Paper), Avery Dennison Corporation., BASF SE.
The report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico, Brazil and Rest of Latin America)
- Western Europe (Germany, Italy, France, U.K, Spain, Nordic countries, Belgium, Netherlands, Luxembourg and Rest of Western Europe)
- Eastern Europe (Poland, Russia and Rest of Eastern Europe)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC, S. Africa, and Rest of MEA)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Recyclable Packaging Market: Market Segmentation
Recyclable packaging market can be segmented based on material type, packaging type, and end use.
Based on the type of material used, recyclable packaging market can be segmented into:
- Biodegradable plastics
- Recycled papers
Based on the type of packaging, recyclable packaging market can be segmented into:
- Paper & cardboard
- Bubble wrap
- Void fill packing
- Pouches & envelopes
Based on the end use industry, recyclable packaging market can be segmented into:
- Healthcare industry
- Food & beverage industry
- Personnel care industry
Regionally global recyclable packaging market is segmented into
- North America
- Latin America
- Eastern Europe
- Western Europe
- Asia-Pacific excluding Japan (APEJ)
- Middle East & Africa (MEA)
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
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