Recyclable Packaging: Next Level of Sustainability | Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026
Packaging is a crucial requirement of several other industrial sectors such as medicine and healthcare, food and beverage, pharmaceutical, retail and personal care. The fact that it has interim effect on animal and marine life due to this there is a heightening demand for sustainable packaging, this is a vital factor expected to drive the global recyclable packaging market.
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Global Recyclable Packaging Market: Competitive Analysis
Major players are emphasizing on producing materials that can be used in order to retain their traditional qualities so as to insulate against heat and moisture along with light. Important players of the global recyclable packaging market are Crown Holdings, Mondi, Sealed Air, Smurfit Kappa, WestRock, and DS Smith.
Likewise, there are other several factors which are expected to drive the global recyclable packaging market in the coming few years. We have mentioned a few of them below have a look-Strict government regulations and growing consumer awareness to protect environment is a prominent factor anticipated to propel the recyclable packaging market. Several private and public bodies are making efforts to educate people regarding harsh environmental effect of plastic based packaging.
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Despite several drivers and opportunities, growth in the global recyclable packaging market is likely to hamper due to factors such as low strength and high costs. Due to this, it become difficult for small scale industries to opt for recyclable packaging market.
In addition to this, fluctuating raw material prices and unavailability of advance equipment are another factors likely to hamper market growth.
Nevertheless, factors such as increasing emphasis towards recycling and waste recovery, rising demand for bioplastics and improvements in packaging and logistical efficiency is a strong factor expected to drive the global recyclable packaging market in the coming few years.
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