Growing at CAGR 8.7% during 2022 to 2030, Zero Waste Packaging Market Size Will Reach USD 3,591 Mn by 2030 Exclusive Report By Acumen Research and Consulting

BEIJING, June 23, 2022 (GLOBE NEWSWIRE) -- The Global Zero Waste Packaging Market size accounted for USD 1,722 Mn in 2021 and is estimated to reach USD 3,591 Mn by 2030, with a CAGR of 8.7% from 2022 to 2030.

The rapid shift towards sustainable packaging solutions is a significant zero waste packaging market trend that is boosting the demand all around the world. Since the e-commerce boom, consumers have become increasingly aware of the brands they support and their environmental impact. According to the World Economic Forum Organization, only 9% of the over 300 million tonnes of plastic waste produced has been recycled to date. Plastic packaging accounts for half of all plastic waste produced worldwide, with only about 16% – less than a fifth – being reprocessed and recycled. The same organization states that packaging is as important as the product itself, with over 78 percent of consumers in the United States preferring to buy a product that is clearly labeled "environmentally friendly." Sustainable packaging uses less material, produces less waste, and has a lower environmental impact. As a result, considering all these aspects, a rapid demand is witnessed for sustainable and zero waste packaging solutions.

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Report Coverage:

Covid-19 Impact on the Global Zero Waste Packaging Industry

COVID-19 has had an unprecedented and staggering global impact, with zero waste packaging market revenue declining across all regions as a result of the pandemic. Lockdowns have had a significant impact on long-standing industrial transformation processes. The impact on supply and reduced investment in the global zero waste packaging market has caused major disruptions in supply chains and trading strategies. However, the impact of pandemic on the food and beverage industry was other way round. Following the Covid-19 outbreak, many food and beverage establishments have increased their use of zero waste packaging materials. During and after the lockdown, a large number of people turned to online grocery shopping, which increased the demand for zero-waste packaging. Because eco-friendly packaging development is a global goal aimed at addressing the social and cultural challenges of climate change action, the environment, and raw materials, the zero waste packaging market share is expected to grow in the years following COVID-19.

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Global Zero Waste Packaging Industry Dynamics

Growing government efforts to ban single-use plastic is expected to fuel the market demand. Single-use plastics have been banned in many countries around the world. This is a major concern for the food and beverage industries. According to major beverage industry players, alternatives to single-use plastics are not yet commercially viable. The critical demand for new solutions to an age-old crisis is expected to create significant innovation opportunities for players in the zero waste packaging market.

Plastic use has quadrupled in the last 30 years, owing to rising demand in developing markets. Between 2000 and 2019, global plastics production more than doubled to 460 million tonnes. Plastics are responsible for 3.4% of worldwide greenhouse gas emissions. Global plastic waste generation more than massively increased to 353 million tonnes between 2000 and 2019. Plastics with lifetimes of less than five years account for nearly two-thirds of all plastic waste, with packaging accounting for 40%, consumer goods accounting for 12%, and clothing& textiles accounting for 11%.

Plastic waste is recycled in only 9% of cases. Another 50% is buried, 19% is burned, and 22% escapes waste management systems and ends up in open pits, uncontrolled dumpsites, or aquatic or terrestrial environments, particularly in emerging countries.As a result, drastic changes in packaging solutions will occur quickly in order to save the environment and animals.

Global Zero Waste Packaging Market Scope

The zero waste packaging market is divided into four categories: type, end-user, distribution channel, and geography. The type segment is further categorized into re-usable goods, compostable goods, and edible goods. Among them, the compostable goods segment generated considerable zero waste packaging market revenue in 2021.

By end-user, the market is segregated into food & beverages, personal care, healthcare, and others (industrial, etc.). Out of these, the food & beverage segment held the major zero waste packaging market shares in 2021.

Based on distribution channels, the industry is split into specialty stores, supermarkets/hypermarkets, online channels, and others. Based on our analysis, the supermarkets/hypermarkets segment gathered a significant amount of share in 2021. Meanwhile, the online channel segment has witnessed a substantial growth rate throughout the forecast period driven by factors such as the surging e-commerce industry, and rising demand from the COVID-19 pandemic.

Zero Waste Packaging Market Regional Stance

By region, the zero waste packaging market segmentation is made up of North America, Asia-Pacific, Latin America, Europe, and the Middle East & Africa. North America dominated the market with the highest market share. The growing demand for sustainable solutions, as well as environmentally progressive initiatives such as the ban on plastics, is expected to drive significant growth in the market. Furthermore, the region is seeing the widespread implementation of technologies such as 3D printing, which is intended to reduce expenses and enhance quality for industry players in the coming future. Meanwhile, the Asia-Pacific zero waste packaging industry is projected to expand at the fastest rate due to many initiatives launched by governments in recent years to promote sustainable packaging.

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Zero Waste Packaging Market Rivalry

The leading zero waste packaging companies presented in the report include Aarohana Ecosocial Development, Avani Eco, Biome, GO Box, Lifepack, Loliware, Loop Industries Inc., Package Free, PulpWorks Inc., and World Centric.

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The Global Alcohol Packaging Market size accounted for US$ 61,983 Mn in 2021 and is expected to reach US$ 78,205 Mn by 2030 with a considerable CAGR of 2.7% during the forecast timeframe of 2022 to 2030.

The Global Medical Flexible Packaging Market is expected to grow at a CAGR of around 6.6% from 2020 to 2027 and expected to reach the market value of around US$ 20.5 Bn by 2027.

The Global Plastic Packaging Market is anticipated to reach market size of around US$ 500 Bn by 2027 and is anticipated to grow at a CAGR of around 4% in terms of revenue during the forecast period 2020 – 2027.

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