Recyclable Packaging Market Forecasts to 2028 – Global Analysis By Material Type (Tinplate, Paper, Aluminum, Biodegradable plastics, Plastic, Recycled papers, Wood, Glass and Other Material Types), Packaging Type (Void fill packing, Pouches & envelopes, B

Recyclable Packaging Market Forecasts to 2028 – Global Analysis By Material Type (Tinplate, Paper, Aluminum, Biodegradable plastics, Plastic, Recycled papers, Wood, Glass and Other Material Types), Packaging Type (Void fill packing, Pouches & envelopes, Bubble wrap, Paper & cardboard and Other Packaging Types), End User and By Geography

According to Stratistics MRC, the Global Recyclable Packaging Market is accounted for $29.25 billion in 2022 and is expected to reach $43.43 billion by 2028 growing at a CAGR of 6.8% during the forecast period. Recyclable packaging is used to enclose or protect products for storage, distribution, and sale, and is utilized with recyclable resources like glass, corrugated cardboard, corrugated cardboard, card, metal, paper, and others. Recyclable packaging materials offer several benefits, including the preservation of natural resources, the reduction of manufacturing energy, and the decrease in greenhouse gas emissions, all of which contribute to lowering the carbon footprint. This makes trash management simpler because it may be recycled, reused or biodegraded.

According to the World Economic Forum, hardly 14% of plastic packaging is gathered for recycling worldwide. Due to intricacies in the recycling process, massive amounts of single-use plastic end up getting burned or tossed into landfills. According to the Environmental Protection Agency, the United States generates up to 80 million metric tons of packaging waste annually.

Market Dynamics:

Driver:

Increasing awareness

Consumer awareness of the advantages of recyclable packaging is likely to increase market share. Recyclable packaging is a sustainable type of packaging that helps to defend the environment by lowering greenhouse gas emissions and packaging trash generation. Additionally, introduction of biodegradable packaging materials by businesses, like bio plastics and biopolymers, for the packaging of a variety of products, including food and beverages, will lead to a significant increase in the size of the market in the anticipated time period.

Restraint:

High risk of contamination

The materials that are used in packaging can easily breakdown but that is only if they are correctly disposed. There is a high risk of cross contamination with packaging when it is in customers’ homes and when they arrive at recycling facilities. Cross-contamination of packaging can make it difficult for the recycling facilities to break it down so it may end up in land-fill and create even more waste than initially. However, lightweight, less durability, and low comparative performance is restraining the market growth.

Opportunity:

Rising environmental concern

A significant aspect of the environmental issue of reducing, reusing, and recycling is recyclable packaging. It is a significant step in the direction of packaging that is more ecologically friendly. The packaging market has an indirect and direct impact on every industry. This packaging can help decrease the waste produced due to packaging materials. In recyclable packaging the material used is re-entered into the production cycle. Another factor influencing the market is the rising demand for ecologically friendly products.

Threat:

The huge cost of recycling

Recycling is a process that includes infrastructure, which in turn necessitates high expenditures as well as manpower and technological know-how. This is due to the materials involved and the sourcing of them but also due to the less-established supply chains, manufacturing processes, and lower economies of scale. With the aid of a well-designed program and the appropriate technology, recycling packaging items may be more effective in terms of energy and other resources.

Covid-19 Impact

As the corona virus epidemic has spread largely, so has the humanitarian effect has been increased to a large extent. Several businesses that help deliver basic needs are increasingly impacted, like supplying food and unnecessary resources to customers safely. However, the impact of the pandemic has varied, largely dependent on the end-user industry. Even with the ongoing- pandemic, the packaging industry in the country has continued to grow steadily, though not at the same scale as in pre-Covid times with the emergence of online retail and e-commerce brands.

The paper segment is expected to be the largest during the forecast period

The paper segment is estimated to have a lucrative growth, owing to its environmental friendly nature and cost effective form of packaging. Due to well-established recycling streams and procedures, paper-based packaging has the greatest recycling rate of any form of packaging. Before the fibers are too weak to be reused, paper trash can be recycled seven times. Paper packaging provides customers with practical storage that is attractive, simple to use, and particularly ecologically friendly, which are significant reasons fostering this market's expansion.

The food & beverages segment is expected to have the highest CAGR during the forecast period

The food & beverages segment is anticipated to witness the fastest CAGR growth during the forecast period, due to easy probability, long shelf life and easy manufacturing. Recyclable packaging is used in practically every sector vertical. However it is most commonly seen in food and beverage. Beverages have a wide variety of drinks ranging from water to alcohol, and all require packaging to serve consumers. Beverages use a number of packaging materials that are recyclable such as aluminum cans, recyclable plastic bottles, glass bottles, and innovation in paper-based water boxes that can boost the revenue growth of this segment.

Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to rising awareness among the consumers for environment protection. Several countries in the region have discouraged using plastic and took initiatives to increase the use of eco-friendly wrapping for products. The increasing population in the region and government initiatives in adopting eco-friendly solutions have fuelled the region growth.

Region with highest CAGR:

Europe is projected to have the highest CAGR over the forecast period, owing to stringent policies implemented by the regulatory authorities against the use of non-ecofriendly material. Revenue growth in the market is mainly attributed to the region’s enacting more stringent objectives by mandating only recyclable packaging and penalties for introducing non-recyclable packaging.

Key players in the market

Some of the key players profiled in the Recyclable Packaging Market include Evergreen Packaging, WestRock Company, Emerald Packaging, Sealed Air Corporation, Mondi, TIPA Corp, Amcor, Elopak AS, Bemis Company, PlastiPak Holdings Inc., Be Green Packaging, Graham, DuPont, Uflex Limited, Ball Corporation, International Paper, Nampak, Tetra Laval, DS Smith and Ardagh Group SA.

Key Developments:

In April 2022, Sealed Air announced collaboration on an advanced recycling initiative that will focus on recycling flexible plastics from the food supply chain and remaking them into new certified circular food-grade packaging.

In July 2021, Tetra Pak and Stora Enso collaborated to increase Poland's beverage carton recycling capacity. Following a thorough feasibility study, the cooperation will install a large-scale carton repulping plant at Stora Enso's Ostroka manufacturing facility in Poland.

Material Types Covered:
• Tinplate
• Paper
• Aluminum
• Biodegradable plastics
• Plastic
• Recycled papers
• Wood
• Glass
• Other Material Types

Packaging Types Covered:
• Void fill packing
• Pouches & envelopes
• Bubble wrap
• Paper & cardboard
• Other Packaging Types

End Users Covered:
• Food & beverage industry
• Personnel care industry
• Healthcare industry
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements