Exerting a direct or indirect impact across diverse sectors like healthcare, retail, food & beverage, and personal care, the global packaging market is anticipated to experience a steady growth at a Compound Annual Growth Rate (CAGR) of 3% over the forecast period. This growth is notably influencing the surge in demand for recyclable packaging solutions. The escalating retail sector in the Asia-Pacific, Eastern Europe, and Japan (APEJ) region, marked by the rapid establishment of modern retail stores, is a significant driver propelling the demand for recyclable packaging. Forecasts project a robust CAGR of 4% for the retail sector over the forecast period, reinforcing the symbiotic relationship with recyclable packaging solutions.
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.
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.
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While consumers often perceive paper-based packaging as sustainable, the focus on recycling remains crucial, especially for composite materials. In response to this concern, the European Federation of Corrugated Board Manufacturers (FEFCO) introduced its Corrugated Packaging Recyclability Guidelines in 2021. These guidelines aim to optimize recyclability through design parameters for paper and board packaging.
The recyclable packaging industry has undergone transformations across materials like flexibles and paper packaging, with significant impacts achievable during the design stage, driven by substantial investments in research and development by prominent companies.
Eastern and Western Europe are poised to lead the recyclable packaging market over the forecasted period due to stringent policies implemented by regulatory authorities against the use of non-eco-friendly materials. Meanwhile, North America and Japan are expected to witness steady growth in the recyclable packaging market over the forecasted period due to rising consumer awareness regarding environmental protection.
Key Players
The Key Players in the Global Recyclable Packaging Market are
- Graham Packaging Company (US),
- Ebro Color GmbH (Germany),
- Lacerta Group, Inc. (US),
- Salazar Packaging, Inc.(US),
- Amcor (Australia),
- 3M (US),
- APP (Asia Pulp & Paper) (Indonesia),
- American Packaging Corporation.(US),
- Avery Dennison Corporation (US), and
- BASF SE (Germany)
Benefits of Recyclable Packaging Solutions
Recyclable packaging offers a myriad of benefits that go beyond environmental stewardship. Some of the key advantages include:
- Reduced Waste: By opting for packaging materials that can be recycled, businesses play a role in reducing waste in landfills and oceans.
- Brand Image Enhancement: Embracing sustainable practices can enhance a company’s brand image, attracting eco-conscious consumers and investors.
- Regulatory Compliance: Many regions have stringent regulations regarding packaging waste. Utilizing recyclable packaging helps companies adhere to these regulations.
- Resource Conservation: Recyclable packaging reduces the consumption of new raw materials, contributing to the conservation of natural resources.
- Innovation and Differentiation: Developing creative and unique recyclable packaging solutions can set a business apart from competitors.
Market Dynamics:
The global packaging market exerts both direct and indirect influence on various sectors, including healthcare, retail, food & beverage, personal care, and more. This broader packaging market is poised to exhibit a steady compound annual growth rate (CAGR) of 3% throughout the forecast period, consequently driving demand within the recyclable packaging sector.
Shifting consumer lifestyles, a preference for smaller quantity goods procurement, and a growing inclination toward eco-friendly product options are notable market trends bolstering the recyclable packaging sector. Across the board, from manufacturers and distributors to suppliers and retailers, there is a concerted focus on materials that not only retain their traditional qualities but also can be reused, effectively providing insulation against factors like light, heat, and moisture.
are some of the other key players operating in the global recyclable packaging market.
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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
- Glass
- Paper
- Plastic
- Tinplate
- Wood
- Aluminum
- Biodegradable plastics
- Recycled papers
Based on the type of packaging
- Paper & cardboard
- Bubble wrap
- Void fill packing
- Pouches & envelopes
Based on the end use industry:
- Healthcare industry
- Food & beverage industry
- Personnel care industry
Regionally
- North America
- Latin America
- Eastern Europe
- Western Europe
- Asia-Pacific excluding Japan (APEJ)
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