The recyclable packaging market: sustainable solutions for a greener future
In today’s world, sustainability is a hot topic, and the recyclable packaging market is a sector that is making significant progress in this direction. This eco-friendly packaging solution is gaining traction for all the right reasons. In this detailed article, we will explore different aspects of the recyclable packaging market, from its benefits to its environmental impact, and even answer some FAQs. Join us on this journey towards a greener future.
Future Market Insight’s recent report highlights increased interest in improving packaging sustainability, with stakeholders actively exploring recyclable materials to reduce plastic use while ensuring quality.
The World Economic Forum reports that only 14% of plastic packaging is collected globally for recycling, leading to significant amounts of single-use plastic being incinerated or ending up in landfills due to the complexity of recycling .
While consumers often perceive paper-based packaging as sustainable, recycling remains crucial, particularly for composite materials. Responding to this concern, the European Federation of Corrugated Board Manufacturers (FEFCO) presented its guidelines on the recyclability of corrugated packaging in 2021, aiming to optimize recyclability through design parameters for paper and cardboard packaging .
The recyclable packaging industry has undergone transformations in materials such as flexible and paper packaging, with significant impacts from the design phase, propelled by substantial investments in research and development by leading companies.
Eastern and Western Europe are expected to dominate the recyclable packaging market during the forecast period due to strict policies implemented by regulatory authorities against the use of non-eco-friendly materials . North America and Japan are expected to witness steady growth in the recyclable packaging market during the forecast period due to increasing consumer awareness towards environmental protection.
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Key players
The major players in the global recyclable packaging market are
- Graham Packaging Company (United States),
- Ebro Color GmbH (Germany),
- Lacerta Group, Inc. (United States),
- Salazar Packaging, Inc.(United States),
- Amcor (Australia),
- 3M (United States),
- APP (Asia Pulp & Paper) (Indonesia),
- American Packaging Corporation.(United States),
- Avery Dennison Corporation (United States), and
- BASF SE (Germany)
Benefits of recyclable packaging solutions
Recyclable packaging offers a myriad of benefits that go beyond environmental management. Some of the main benefits include:
- Waste reduction: By switching to recyclable packaging materials, companies are playing a role in reducing waste in landfills and oceans.
- Improved brand image: Adopting sustainable practices can improve a company’s brand image and attract environmentally conscious consumers and investors.
- Regulatory conformity : Many regions have strict regulations regarding packaging waste. Using recyclable packaging helps businesses meet these regulations.
- Resource conservation: Recyclable packaging reduces the consumption of new raw materials, thus contributing to the conservation of natural resources.
- Innovation and differentiation: Developing creative and unique recyclable packaging solutions can set a company apart from its competitors.
Market dynamics:
The global packaging market exerts both direct and indirect influence on various sectors including healthcare, retail, food and beverages, personal care, etc. This broader packaging market is poised to post a steady compound annual growth rate (CAGR) of 3% throughout the forecast period, thereby boosting demand in the recyclable packaging sector.
Changing consumer lifestyles, preference for purchasing products in smaller quantities, and a growing inclination towards eco-friendly product options are notable market trends strengthening the recyclable packaging sector. Everywhere, from manufacturers and distributors to suppliers and retailers, there is a concerted focus on materials that not only retain their traditional qualities but can also be reused, providing effective insulation against factors such as light, heat and humidity. ‘humidity.
are among the other key players operating in the global recyclable packaging market.
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Recyclable Packaging Market: Market Segmentation
The recyclable packaging market can be segmented based on material type, packaging type and end use.
Based on the type of material used, the recyclable packaging market can be segmented into:
- Glass
- Paper
- Plastic
- Tin
- Drink
- Aluminum
- Biodegradable plastics
- Recycled papers
Based on the type of packaging, the recyclable packaging market can be segmented into:
- Cardboard
- Bubble wrap
- Empty filling packaging
- Pouches and envelopes
On the basis of end-use industry, the recyclable packaging market can be segmented into:
- The healthcare industry
- Food industry
- Personal care industry
The global regional recyclable packaging market is segmented into
- North America
- Latin America
- Eastern Europe
- Western Europe
- Asia-Pacific excluding Japan (APEJ)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR Certified, Stevie Award Recipient and Member of the Greater New York Chamber of Commerce) provides in-depth insight into the driving factors driving market demand. FMI is the leading global provider of market intelligence, advisory services, advisory services and events for the packaging, food and beverage, consumer, technology, health, industry and chemicals. With an extensive team of more than 5,000 analysts worldwide, FMI provides global, regional and local expertise on diverse areas and industry trends in more than 110 countries.
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