Recycled Packaging Market

Recycled Packaging Market

Growth Factors of Recycled Packaging Market

The recycled packaging market size was valued at USD 46.31 billion in 2023, and the market is now projected to grow from USD 48.69 billion in 2024 to USD 77.16 billion by 2032, exhibiting a CAGR of 5.92% during the forecast period of 2024-2032.

The pandemic considerably impacted international agencies, particularly recyclable packaging. The pandemic interrupted international supply traces, impacting the collection and processing of sustainable packaging solutions. Lockdowns, mobility limitations, and logistics delays posed boundaries for accumulating and transporting recyclable devices. Although the pandemic prompted quick-time period disruptions, it additionally emphasised the importance of sustainability, perhaps contributing to the recycled packaging market growth.

Governments are adopting legislation and recycling goals to decrease waste and promote a round economic system. These pointers often mandate using recyclable materials in packaging, pushing agencies to embrace environmentally friendly practices. As individuals grow more aware in their environmental effect, there is a more desire for products. Advancements in sorting, chemical recycling, and processing make it viable to recycle a much wider variety of materials efficiently. These variables are proven to be substantial drivers within the recycled packaging commercial enterprise.

Circular economic system projects are gaining momentum, with governments, industry establishments, and agencies taking component to promote recycling, reusing, and waste discount. Policies and pointers encourage using recycled cloth in packaging and discourage single-use plastics. This shift towards sustainable intake and production is being pushed via the use of the marketplace. Innovation in substances and technology is improving the quality of recycled substances, at the equal time as researchers and agencies are exploring bio-based absolutely and biodegradable alternatives to lessen packaging's environmental impact. Advancements in recycling approaches and studies are using this trend in the direction of extra sustainable consumption and production.

Comprehensive Analysis of Recycled Packaging Market

The marketplace for recycled packaging is segmented into plastic, paper and paperboard, and metallic. Paper and paperboard is the dominant segment because of its nicely-hooked up recycling infrastructure and clean series structures. Plastics are the second-largest, with research that specialize in biodegradable plastics and superior recycling techniques. The market is similarly divided into product kinds, together with bottles, bags, pouches, wraps, and boxes. Boxes and cartons keep the biggest proportion because of their potential to keep temperature-sensitive products. Bottles, specifically in the beverage industry, also are gaining traction due to public recognition and regulatory measures. Electronics manufacturers are adopting circular financial system principles, incorporating post-client recycled content material into their packaging. The beverage industry is gaining traction as a sustainable preference, whilst electronics manufacturers are incorporating publish-client recycled content material into their packaging.

The Asia Pacific region lead the recycled packaging market share by benefitting a market size of USD 16.24 billion in 2023 because Asia Pacific has the highest proportion of the global recycled packaging market. China, Japan, and India are a number of the quickest expanding markets for recyclable packaging. The developing middle-elegance population and changing intake habits are riding demand for sustainable packaging solutions.

The worldwide packaging market is particularly fragmented and aggressive, with maximum vital players like Amcor Plc, Mondi Group, Berry Global Inc., Smurfit Kappa, Ball Corporation, and Mauser Packaging Solutions dominating the market. Other organizations, such as WestRock Company, International Paper also specialize in growing their consumer base for the regions.

Mondi collaborated with Syntegon, a manufacturer of packaging technology, to create a recyclable paper packaging solution for dry devices on the aspect of flour, sugar, and pasta.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 5.92% from 2024 to 2032

Unit Value (USD Billion)

Segmentation By Material

- Plastics

• Polyethylene (PE)
• Polyethylene Terephthalate (PET)
• Polypropylene (PP)
• Others

- Paper & Paperboard

- Metal

• Aluminum
• Tinplate

- Others

By Product Type

- Bottles

- Bags & Pouches

- Wraps & Liners

- Boxes & Cartons

- Jars & Containers

- Others

By Application

- Foods

- Beverages

• Alcoholic
• Non-alcoholic

- Healthcare & Pharmaceuticals

- Electronics

- Cosmetics & Personal Care

- Homecare

- Others

By Region

- North America (By Material, By Product Type, By Application, and Country)

• U.S. (By Product Type)
• Canada (By Product Type)

- Europe (By Material, By Product Type, By Application, and Country)

• Germany (By Product Type)
• France (By Product Type)
• U.K. (By Product Type)
• Spain (By Product Type)
• Italy (By Product Type)
• Russia (By Product Type)
• Poland (By Product Type)
• Austria (By Product Type)
• Rest of Europe (By Product Type)

- Asia Pacific (By Material, By Product Type, By Application, and Country)

• China (By Product Type)
• India (By Product Type)
• Japan(By Product Type)
• Australia (By Product Type)
• Southeast Asia (By Product Type)
• Rest of Asia Pacific (By Product Type)

- Latin America (By Material, By Product Type, By Application, and Country)

• Brazil (By Product Type)
• Mexico (By Product Type)
• Argentina (By Product Type)
• Rest of Latin America (By Product Type)

- Middle East & Africa (By Material, By Product Type, By Application, and Country)

• Saudi Arabia (By Product Type)
• U.A.E. (By Product Type)
• Oman (By Product Type)
• South Africa (By Product Type)
• Rest of Middle East and Africa (By Product Type)