Press release
Recyclable Packaging Market 2024-2033: Global Outlook, Industry Share, Latest Trends And Major Players
Recyclable Packaging Market
Recyclable Packaging Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $40.32 billion In 2028 At A CAGR Of 6.1% :
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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Recyclable Packaging Market Major Segments
The recyclable packaging market covered in this report is segmented -
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
Key Driver - Stringent Regulations Drive Growth Of Recyclable Packaging Market
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.
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Prominent Trend - Eco-Friendly Packaging Is Gaining Popularity
Eco-friendly packaging has emerged as a key trend in the recyclable packaging market. Eco-friendly packaging is biodegradable recyclable, reusable, non-toxic, and constructed from recycled items. The use of eco-friendly packaging decreases carbon footprint and promotes green living that helps to conserve energy and also prevents air, water, and noise pollution. For instance, in April 2020 P&G (Procter & Gamble), an American multinational consumer goods corporation started opting new eco-friendly packaging. Brands such as Old Spice and Secret sporting started new eco-friendly packaging for their deodorant products.
Recyclable Packaging Market Players
Major companies operating in the recyclable packaging market include 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
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Largest And Fastest Growing Region In The Market
Western Europe was the largest region in the recyclable packaging market in 2023. Asia-Pacific is expected to be the fastest-growing region in the recyclable packaging market share during the forecast period. The regions covered in the recyclable packaging market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Recyclable Packaging Market Report Structure
3. Recyclable Packaging Market Trends And Strategies
4. Recyclable Packaging Market - Macro Economic Scenario
5. Recyclable Packaging Market Size And Growth
…..
27. Recyclable Packaging Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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