Plastic Free Packs Market: Environment Friendly Solution to Plastic Waste
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Plastic-Free Packs Market: Drivers and Restraints
The ban on plastic bags and other plastic products in several countries across the world is the major driver for the growth of global plastic-free packs market. The strategic investments in sustainable development by global cosmetic products manufacturers, both in premium and mass segment is expected to drive the global plastic-free packs market growth. The stringent government regulations in using plastics or recycled plastics for food packaging also contributes to the growth of global plastic-free packs market. The increasing sales of luxury products such as perfumes and alcohol is expected to fuel the growth of glass packaging. The expansion of online retail has facilitated the growth of paper and paperboard packaging, thus contributing to the global plastic-free packs market growth.
However, the advantages of plastic packaging such as cost effective, lightweight, durability etc. is anticipated to hamper the growth of global plastic-free packs market during the forecast period.
Plastic-Free Packs Market: Segmentation
On the basis of material, the global plastic-free packs market can be segmented as follows:-
Tin free steel
On the basis of packaging type, the global plastic-free packs market can be segmented as follows:-
Blister and Strip
Bottles and Jars
On the basis of end use, the global plastic-free packs market can be segmented as follows:-
Food and Beverage
Plastic-Free Packs Market: Region Wise Outlook
The global plastic-free packs market can be divided into five regions, namely North America, Latin America, Europe, Asia Pacific (APAC) and Middle East & Africa (MEA). APAC holds the major share in global plastic-free packs market. Countries such as China, India and South Korea have significant share in paper boarding and glass packaging market. The rise in e-commerce sales and increasing consumption of canned food contributes to the growth of plastic-free packs market in the region. North America and Europe are the other key regions in the global plastic-free packs market.
Plastic bags and packaging is banned in major countries in these regions. The mature luxury and cosmetic product industry and stringent regulations for sustainable development is anticipated to increase the region’s share in global plastic-free packs market. MEA is anticipated to exhibit moderate CAGR during forecast period.
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