Press release
Recyclable Packaging Market Report 2024-2033: Market Size, Share, Growth Drivers And Key Trends
Recyclable Packaging Market
The Business Research Company presents an extensive market research report on the Recyclable Packaging Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The recyclable packaging market size has grown strongly in recent years. It will grow from $30.05 billion in 2023 to $31.81 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to environmental awareness and sustainability, growth in consumer demand for eco-friendly products, expansion of the circular economy and recycling infrastructure, development of eco-conscious packaging materials, regulatory standards for recycling and waste reduction..
The recyclable packaging market size is expected to see strong growth in the next few years. It will grow to $40.32 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to customized recyclable packaging solutions for specific products, integration of smart packaging and traceability, sustainable and biodegradable packaging materials, expansion in zero-waste and closed-loop packaging, adoption of reusable and refillable packaging concepts.. Major trends in the forecast period include regulatory compliance in recyclable packaging standards, smart and interactive recyclable packaging solutions, personalized packaging for individual consumer preferences, transparency in packaging material sourcing and disposal, integration of ai in sustainable packaging design..
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Key Market Players:
Amcor PLC, Tetra Laval International SA, Ardagh Group SA, Ball Corporation, Elopak AS, DuPont de Nemours Inc., Mondi Plc, Sealed Air Corp, Plastipak Holdings Inc., Uflex Ltd., David S. Smith Plc, Smurfit Kappa Group Plc, WestRock Co., Huhtamaki Group, Berry Global Group Inc., Gerresheimer Group AG, Sonoco Products Company, Crown Cork & Seal Company Inc., International Paper and Power Corp, Stora Enso Oyj, Graphic Packaging Holding Company, Reynolds Group Holdings Ltd., National Amalgamated Packaging Ltd., BWAY Corporation, Silgan Holdings Inc., AptarGroup Inc., Owens-Illinois Inc., Greif Inc., Pratt Holdings Proprietary Ltd., Evergreen Packaging LLC are prominent players in the industry.
Market Drivers:
Increasing stringent regulations for adopting recycling packaging materials is expected to propel the growth of the recyclable packaging market going forward. The government across the globe are implementing stringent regulations for the adoption of recyclable packaging materials to reduce the landfill of plastics, maintain effective waste management, and generate sustainable business practices. For instance, in January 2022, the Food Safety and Standards Authority of India (FSSAI), proposed the usage of recycled plastic under Section 16 (5) of the Food Safety and Standards Act, 2006. Therefore, increasingly strict rules for adopting recycling packaging materials are expected to boost the demand for recyclable packaging during the forecast period.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/recyclable-packaging-global-market-report
Market Segments Include:
1) By Type Of Packaging: Paper and Cardboard, Bubble Wrap, Void-fill Packing, Pouches and Envelopes
2) By Material type: Glass, Paper, Plastic, Tinplate, Wood, Aluminum, Biodegradable Plastics, Recycled Papers
3) By End Use Industry: Healthcare Industry, Food and Beverage Industry, Personal Care Industry
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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