Recyclable Packaging Market Size, Growth, Analysis and Forecast 2023

The global recyclable packaging market size was valued at USD 22,951.8 million in 2022 and is poised to grow at a significant CAGR of 4.9% during the forecast period 2023-29. The primary drivers of the expansion of the global recyclable packaging market include the increasing environmental consciousness among the public influencing the demand for sustainable and lowering impact on environment. In addition, increase in government regulations in management of waste and preserving environment is expected to boost the growth of recyclable packaging Market.

View the detailed report description here - https://precisionbusinessinsights.com/market-reports/recyclable-packaging-market

The recyclable packaging market is segmented based on material type, packaging type, end user industry, and geography.

Based on the material type, the market is segmented into the following:
• Glass
• Paper
• Tinplate
• Wood
• Aluminum
• Biodegradable Plastics
• Recycled Papers
• Others

Based on the packaging type, the market is segmented into the following:
• Paper & Cardboard
• Bubble Wrap
• Void Fill Packing
• Pouches & Envelopes

Based on the end use industry, the market is segmented into the following:
• Food & Beverage
• Pharmaceutical
• Personal Care & Cosmetics
• Logistics
• Others

Based on geography, the market is segmented into the following:
• North America
• Europe
• The Asia Pacific
• Latin America
• MEA

Based on the material type, the global Recyclable Packaging market is segmented into glass, paper, tinplate, wood, aluminium, biodegradable plastics, recycled papers, and others. The biodegradable plastic segment is expected to account for a larger revenue share in the global recyclable packaging market. Owing to capacity of biodegradable plastics to store and preserve fresh food products and increase their shelf life, the biodegradable plastics are expected to dominate the recyclable packaging market over the forecast period. The increase in preference of consumer in sustainable packaging has led the key market players to focus on manufacture of biodegradable PVC which is expected to boost the market growth in this segment.

Asia Pacific Recyclable Packaging Market:
The Asia Pacific recyclable packaging market is expected to increase over the forecast period due to the increasing population and increase in awareness and environment consciousness of people in this region. Rapid evolution of industries and manufacturing sectors across the Asia Pacific region especially in China and Japan has shown a significant growth in manufacturing and exporting of recyclable packaging. Moreover, governments regulation promoting the use of recyclable packaging and increase in demand for eco-friendly packaging in this region is expected to further trigger the growth of recyclable packaging market over the forecast period.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players.

The global Recyclable Packaging market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance, In September 2021, Dupont announced their partnership with Freepoint Eco-systems to support company's current sustainability along with the recycling initiatives.

Request sample report at https://precisionbusinessinsights.com/request-sample/?product_id=812842

Key players profiles in the Recyclable Packaging Market report are Amcor, Plastipak Holdings Inc., Mondi, Ardagh Group SA, Ball Corporation, Bemis Company, Elopak AS, Tetra Laval. Sealed Air Corporation, WestRock Company, Be Green Packaging, Evergreen Packaging, Emerald Packaging, TIPA Corp.

Contact:
Mr. Satya
Precision Business Insights | Toll Free: +1 866 598 1553
Email: sales@precisionbusinessinsights.com
Kemp House, 152 - 160 City Road, London EC1V 2NX
Website: https://precisionbusinessinsights.com/ | D U N S® Number: 852781747

About Precision Business Insights:
We are a market research company that strives to provide the highest quality market research insights. Our diverse market research experts are enthusiastic about market research and therefore produce high-quality research reports. We have over 500 clients with whom we have a good business partnership and capacity to provide in-depth research analysis for more than 30 countries. In addition to deliver more than 150 custom solutions, we already have accounts with the top five medical device manufacturers.

Precision Business Insights offers a variety of cost-effective and customized research services to meet particular research requirements. We are a leading research service provider because of our extensive database built by our experts and the services we provide.

This release was published on openPR.