Recyclable Packaging Market Size to Reach USD 48,960 Million by 2034 At A 4.7% CAGR: Statifacts

According to Statifacts, the global recyclable packaging market size is calculated at USD 30,930 million in 2024 and is predicted to reach around USD 48,960 million by 2034, expanding at a CAGR of 4.7% from 2024 to 2034.

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Growing environmental concerns and increasing awareness among consumers regarding the adverse impacts of non-recyclable packaging on the environment have led to a surge in demand for recyclable packaging solutions. As individuals become more conscious of their ecological footprint, they are actively seeking out products packaged in materials that can be easily recycled, thereby driving the market growth for recyclable packaging.

Stringent government regulations & policies aimed at reducing plastic waste and promoting recycling initiatives have played a crucial role in shaping the recyclable packaging industry. Many countries have implemented laws mandating the use of recyclable materials for packaging or imposing taxes & levies on non-recyclable packaging. Some instances of stringent government regulations aimed at reducing plastic waste include the EU's Plastic Strategy, Break Free from Plastic Pollution Act in the U.S., bans on single-use plastics in countries such as Germany, France, Sweden, Estonia, Malta, Greece, and Ireland, and laws in Colombia implementing a plastic bag tax and extended producer responsibility (EPR) laws.

These regulations are compelling manufacturers & retailers to adopt recyclable packaging solutions to comply with the law and mitigate potential fines or penalties, thereby driving market growth. Additionally, the rise of corporate sustainability initiatives and corporate social responsibility (CSR) goals among businesses is further fueling the demand for recyclable packaging across the globe.

Many companies are committing to environmentally responsible practices throughout their supply chains, including the adoption of recyclable packaging materials. This helps enhance their brand image and reputation among environmentally conscious consumers and aligns with their long-term sustainability objectives, driving the adoption of recyclable packaging solutions across various industries.

Furthermore, innovation and technological advancements within the packaging industry have contributed to the market growth. Innovations, such as the development of new biodegradable materials, improved recycling processes, and innovative packaging designs, have made it easier and cost-effective for businesses to transition to recyclable packaging solutions. Such advancements have expanded the range of recyclable materials available and made recycling efficient and economically viable, further driving the adoption of recyclable packaging globally.

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Recyclable Packaging Market Report Highlights

• Plastics dominated the material segment with more than 40.0% of the market share in 2024, owing to superior durability, lightweight, cost-effectiveness, and recyclability.

• The paper & paperboard segment is expected to grow at the fastest CAGR during the forecast period, due to growing demand for eco-friendly & recyclable packaging solutions.

• The bottles & jars product segment held the largest market share of around 35.0% in 2024. The bags & pouches segment, on the other hand, is estimated to grow at a rapid CAGR from 2024 to 2034.

• The food & beverage application segment held the largest market share of over 34.0% in 2024 and is anticipated to witness the fastest growth over the forecast period.

• Europe dominated the global market for recyclable packaging in 2024, owing to factors, such as stringent environmental regulations, consumer awareness & demand, and advanced recycling infrastructure across the region.

• In March 2024, the collaboration among supply chain partners, including INEOS, PepsiCo, and Amcor, led to the successful launch of a new premium film packaging made with 50% recycled plastic. This innovative packaging for Sunbites, a snack brand in the UK and Ireland, demonstrates the use of advanced recycling processes to create food-grade packaging material from post-consumer plastic waste. This collaboration is aimed at meeting the EU's objectives for recycled content in plastic packaging by 2030 and contributes to reducing environmental impact by preventing plastic waste and lowering emissions.

What are the benefits of using Recyclable Packaging?

Using recyclable packaging offers numerous benefits for the environment, businesses, and consumers. It significantly reduces waste in landfills, as materials can be reused to create new products instead of contributing to pollution. This helps conserve natural resources by minimizing the need for raw material extraction and manufacturing, which in turn reduces energy consumption and greenhouse gas emissions. For businesses, recyclable packaging enhances brand reputation by demonstrating a commitment to sustainability, which resonates with environmentally conscious consumers. Additionally, it often aligns with government regulations and incentives promoting eco-friendly practices, potentially reducing costs and legal risks. Consumers benefit from recyclable packaging as it supports their efforts to live sustainably, fostering a sense of responsibility and contribution to global environmental health. Overall, adopting recyclable packaging is a practical step toward a circular economy and a more sustainable future.

Why are Recyclable Packaging becoming a trend for the future ?

Recyclable packaging is becoming a trend for the future due to increasing awareness of environmental issues and the urgent need to address global waste and pollution problems. Governments, businesses, and consumers are recognizing the environmental, economic, and social benefits of sustainable packaging solutions. Rising concerns about plastic pollution, climate change, and dwindling natural resources have driven the demand for eco-friendly alternatives, with recyclable packaging being one of the most effective options.

Additionally, businesses are under growing pressure to align with sustainability goals, comply with environmental regulations, and meet the expectations of eco-conscious consumers. Brands adopting recyclable packaging are viewed as socially responsible and innovative, which can enhance their marketability and customer loyalty. Technological advancements have also made recyclable materials more versatile, cost-effective, and attractive, enabling companies to incorporate them into their packaging without compromising quality or design. As circular economy models gain traction, recyclable packaging is poised to play a pivotal role in reducing waste, conserving resources, and creating a sustainable future.

Regional Insights

The North America recyclable packaging market is influenced by stringent environmental regulations and policies that encourage the use of sustainable and recyclable packaging materials. Companies, such as Coca-Cola, PepsiCo, Unilever, and Procter & Gamble, have implemented significant initiatives to increase the use of recyclable packaging materials in North America, driven by consumer demand, sustainability goals, and regulatory requirements. This outlook is expected to provide growth opportunities for the market within North America.

U.S. Recyclable Packaging Market Trends

The recyclable packaging market in the U.S. is anticipated to experience significant growth, due to the introduction of new recyclable packaging products by companies operating in the country. In February 2024, American Packaging Corporation (APC) announced the commercial launch of a new sustainable offering for frozen food applications, introducing a "Design for Recycle" flexible packaging technology. This initiative is part of its RE sustainable packaging portfolio, which includes various environmentally friendly packaging options, such as Design for Compost, Circular Content, and Renewable Content. The newly launched package is a PE flexible package designed to be recycle-ready and compliant with the Association of Plastic Recycler's guidelines for PE films.

The Canada recyclable packaging market held a significant revenue share in 2023, due to its commitment to the use of recycled content in its packaging. The Canadian Federal Government is engaging the public to develop a Pollution Prevention Plan to reduce plastic pollution, focusing on primary food plastic packaging. This initiative aims to shift toward a circular economy by reducing single-use plastics and increasing recycled content targets. The plan includes efforts to replace single-use packaging with reuse-refill systems and design plastics for safe reuse, recycling, or composting.

Europe Recyclable Packaging Market Trends

The recyclable packaging market in Europe held the largest revenue share of over 35% in 2023, owing to the continuous promotion of recyclability and sustainability across the region. According to the European Parliament, EU member states are mandated to reduce packaging waste by 5% by 2030, 10% by 2035, and 15% by 2040. Besides, all packaging must be recyclable by 2030 and systematically recycled by 2035. Member states need to ensure a separate collection of at least 90% of single-use plastic bottles and metal beverage containers by 2029, as per the European Parliament.

The UK recyclable packaging market is primarily driven by increasing efforts made by packaging companies to launch environmentally friendly packaging to meet the increasing demand for recyclable packaging in various end-use industries, including food & beverages. In September 2023, Mondi and Veetee collaborated to introduce the first paper-based packaging for dry rice in the UK. This innovative packaging, created using Mondi's recyclable Functional Barrier Paper, provides a sustainable alternative to traditional plastic packaging.

The new paper-based packaging offers excellent barrier properties to protect rice while aligning with Veetee's goals to reduce plastic usage. The new packs have been certified for kerbside recycling in the UK. This initiative reflects both companies' commitment to sustainability, with Veetee targeting net zero carbon emissions and increased recycling, while Mondi aims to make all its packaging reusable, recyclable, or compostable by 2030.

Asia Pacific Recyclable Packaging Market Trends

The Asia Pacific recyclable packaging market is anticipated to grow at the fastest CAGR of 6.9% during the forecast period. Asia Pacific is home to some of the world's most populous countries, such as China, India, and Indonesia. The region has experienced rapid urbanization and population growth, leading to increased demand for packaged goods and, consequently, recyclable packaging solutions.

The Japan recyclable packaging market is expected to grow during the forecast period. In February 2024, Oji Holdings and Tetra Pak collaborated to establish Japan's first recycling system for aseptic carton packages. This initiative involves collecting aseptic carton packages from various sources, including retail and municipal collections, to promote recycling and sustainability. Tetra Pak emphasizes the recyclability of its cartons, which are made of about 70% paperboard, 25% plastic, and 5% aluminum, highlighting the potential for these cartons to be transformed into various products through proper recycling processes. Such strategic efforts related to the recycling of packaging by various players are expected to drive the market growth.

Central & South America Recyclable Packaging Market Trends

The Central & South America recyclable packaging market is projected to expand at a moderate CAGR from 2024 to 2030, due to government regulations & policies regarding sustainability. Many governments in Central & South America implemented regulations and initiatives to promote sustainable practices, including the use of recyclable packaging materials. For example, Brazil has implemented the National Solid Waste Policy, which encourages recycling and use of recyclable materials in packaging.

The Brazil recyclable packaging market is expected to register a healthy growth rate over the forecast period. Companies, such as Heinz Brazil, Tesco, and Clover Sonoma, are making strides in recyclable packaging. Heinz Brazil is moving its sauces to bottles containing 30% recycled PET material, Tesco is introducing chilled meal trays with 30% PCR content, and Clover Sonoma shifted its organic milk jugs to contain 30% rHDPE material. Hence, these strategic efforts by companies in Brazil regarding the recyclability & sustainability of their packaging products are anticipated to aid the market growth.

Middle East & Africa Recyclable Packaging Market Trends

The Middle East & Africa recyclable packaging market dynamics are influenced by government regulations related to plastic packaging. Expanding retail and e-commerce sectors in the region have increased the demand for packaging solutions, including recyclable packaging options. Moreover, many countries in the region are witnessing rapid urbanization and population growth, leading to increased consumption of packaged goods. This has driven the demand for recyclable packaging options to manage the resulting waste.

The UAE recyclable packaging market growth can be attributed to initiatives taken by UAE-based companies to achieve their sustainability goals. For instance, in November 2023, Spinneys, a UAE-based supermarket chain, became the first UAE retailer to transition to recycled plastic packaging in partnership with Al Bayader International. This move represents a significant step toward environmental sustainability, with Spinneys using rPET packaging that significantly reduces CO2 emissions. The transition involves the use of recycled packs containing 30% rPET, initially in Spinneys' bakery products, contributing to a reduction of six metric tons of annual emissions.

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Recyclable Packaging Market Top Key Companies:
• Graham Packaging Company
• Lacerta Group, Inc
• Amcor plc
• Sealed Air
• Tetra Pak
• Huhtamaki Oyj
• Mondi
• DS Smith
• Atlantic Packaging
• ProAmpac
• Constantia Flexibles
• Genpak
• Crown Holdings, Inc.
• Gerresheimer AG
• Stora Enso
• WestRock Company
• NEFAB GROUP
• Scholle IPN
• Greiner Packaging
• Ball Corporation
• Oji Holdings Corporation
• Ardagh Group S.A.
• RAFESA
• Trivium Packaging
• Envases Group

Global Recyclable Packaging Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2019 to 2034. For this study, Statifacts has segmented the global Recyclable Packaging Market

By Material Type

• Glass
• Paper
• Plastic
• Tinplate
• Wood
• Aluminum
• Biodegradable Plastics
• Recycled Papers

By Packaging Type

• Paper & Cardboard
• Bubble Wrap
• Void Fill Packing
• Pouches & Envelopes

By Sales Channel

• Healthcare Industry
• Food & Beverage Industry
• Personal Care Industry

Regional
• North America
• Europe
• Asia Pacific
• Latin America
• Central & South America
• Middle East Africa

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This release was published on openPR.