Global Zero Waste Packaging Market Report and Forecast 2023-2028

Global Zero Waste Packaging Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global zero waste packaging market reached a value of USD 2.06 billion in 2022. Aided by the mounting demand for environmentally sustainable products and the expanding applications of zero waste packaging across numerous sectors, the market is projected to further grow at a CAGR of 9.09% between 2023 and 2028 to reach a value of USD 3.46 billion by 2028.

Zero waste packaging is a sustainable approach to packaging design that eliminates waste by utilising materials that can be fully recycled, reused, or composted. This process not only reduces waste but also minimises the usage of new resources. With the rise in environmental consciousness and strict governmental regulations concerning waste disposal, zero waste packaging has gained significant traction in various sectors, including food and beverage, cosmetics, healthcare, and retail.

The escalating consumer preference for eco-friendly products is driving the global zero waste packaging market growth. As consumers become more educated about the detrimental effects of non-biodegradable waste on the environment, there is an increasing shift towards sustainable alternatives, resulting in a surge in demand for zero waste packaging. In addition, the growing trend of sustainable living and eco-conscious consumerism has further amplified the acceptance of zero waste packaging, as it supports the principles of circular economy and waste minimisation.

The diverse applications of zero waste packaging in numerous industries also play a critical role in boosting the zero waste packaging market expansion. In the food and beverage sector, zero waste packaging, often using biodegradable materials, helps reduce the ecological footprint while maintaining product integrity. The cosmetics sector has been utilising zero waste packaging to meet the rising consumer demand for environmentally friendly beauty products. Moreover, zero waste packaging's versatility makes it an essential component in the retail sector, where sustainable packaging can enhance a brand's eco-friendly image.

Moreover, the growing emphasis on circular economy models and waste reduction goals has led to an increased focus on zero waste packaging as a viable solution, which has further bolstered the zero waste packaging market growth. With the rise of sustainability-oriented policies and the growing popularity of eco-conscious consumer behaviour, zero waste packaging has surfaced as a key strategy in achieving waste reduction targets, thereby propelling market growth.

Market Segmentation

The market can be divided based on type, material, application, and region.

Market Breakup by Type

• Reusable/Recyclable Packaging
• Compostable Packaging
• Edible Packaging

Market Breakup by Material

• Biopolymer
• Paper and Cardboard
• Glass Packaging
• Metal Packaging
• Others

Market Breakup by Application

• Healthcare
• Cosmetics and Personal Care
• E-commerce
• Electrical and Electronics
• Food and Beverages
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global zero waste packaging companies. Some of the major key players explored in the report by Expert Market Research are as follows:

• DS Smith Plc
• Ecovative LLC
• Avani Eco
• Notpla Limited
• World Centric
• Hero Packaging
• PT. Evogaia Karya Indonesia (Evoware)
• TIPA Corp Ltd.
• PulpWorks LLC
• Arekapak GmbH
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.