Farmington, March 17, 2023 (GLOBE NEWSWIRE) -- The Global Recovered Packaging Market Is Projected To Grow at a CAGR Of 6.5% From 2022 To 2030. Reusable packaging is when things like cardboard boxes, paper bags, and plastic wrap are used again or recycled. Reusing packaging can help save money and cut down on waste. By using recycled materials instead of natural ones, it can also help keep natural resources from being used up.
The growth of the market can be attributed to the growing demand for recycled packaging in different end-use applications, such as protective packaging and food containers. Over the next few years, the paper segment is expected to lead the global reclaimable packaging market in terms of type. This is because paper is easy to recycle and doesn't harm the environment. But the metal segment is expected to grow at a higher CAGR over the next few years because more and more food and drink come in cans made of metal. North America is the biggest market for used packaging in the world, followed by Europe and Asia-Pacific.
Request Sample Copy of Report “Recovered Packaging Market Size, Share & Trends Estimation Report By Type (Paper, Glass, Wood, Metal, Plastic), By Application (Protective Packaging, Food Containers), By Region, And Segment Forecasts, 2023 - 2030”, published by Contrive Datum Insights.
Industry Developments:
- A new partnership with DuPontTM Tyvek® and recycling partner Freepoint Eco-Systems was announced for September 2021. As a leading producer of sterilizable flexible packaging solutions and DuPontTM Tyvek converters, Technipaq Inc. is also pleased to support the company's current sustainability. as a recycling initiative.
Market Dynamics:
Driver:
Demand for packaging that is good for the environment is going up. This is one of the main things that is driving the recovered packaging market. Traditional packaging is worse for the environment than packaging that has been used before.
Rules that the government makes: Government rules that try to make packaging materials less harmful to the environment are likely to drive the need for recycled packaging.
Cost-effectiveness: Most of the time, recycled packaging is cheaper than other kinds of packaging. This makes it a good choice for businesses that want to save money on packaging.
Restraint:
Few high-quality recovered materials: It can be hard to find high-quality recovered materials, which can make it hard to make recovered packaging materials.
Other environmentally friendly options for packaging: Other sustainable packaging options, like biodegradable and compostable materials, could slow the growth of recycled packaging on the market.
Lack of knowledge: If businesses and consumers didn't know about or understand the benefits of recycled packaging, they might not use it as much as they could.
Opportunities:
Changes in technology: The growth of the market is likely to be driven by changes in technology, such as better ways to sort and clean used packaging.
Emerging markets: Places like Asia-Pacific and Latin America, where the need for packaging materials is growing, have a lot of room for the recovered packaging market to grow.
Regional Outlook:
In 2019, Asia-Pacific led the world market in terms of revenue share. Due to the high demand for corrugated cartons and wood packaging from end-use industries like food and beverages, retail, and protective packaging, the region is expected to keep its lead over the next few years. Over the next five years, the market is expected to grow because consumers' disposable income is going up and cities are growing quickly in Asia-Pacific emerging economies.
Europe brought in a big chunk of the world's revenue in 2019 because local governments in big countries like Germany and the UK put in place strict rules about how to handle waste. This made it more common for paper products to be taken back at the source instead of being sent away. Reducing the amount of carbon dioxide released by moving trash to landfills or recycling centres will help the region grow a lot in the coming years.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | CAGR of 6.5% from 2023 to 2030. |
| By Type | Paper, Glass, Wood, Metal, Plastic, Others |
| By Application | Protective Packaging, Food Containers, Others |
| By Companies | Coca-cola Company, PWC, Smurfit Kappa, International Paper, American Eagle Paper Mills, Stora Enso, Mondi Group, Ardagh group, Strategic Materials, Harsco Minerals International, Heritage Glass, Momentum Recycling |
| Regions and Countries Covered |
|
| Base Year | 2022 |
| Historical Year | 2017 to 2022 |
| Forecast Year | 2023 to 2030 |
Key Segments Covered:
Top Market Players:
Coca-cola Company, PWC, Smurfit Kappa, International Paper, American Eagle Paper Mills, Stora Enso, Mondi Group, Ardagh group, Strategic Materials, Harsco Minerals International, Heritage Glass, Momentum Recycling, and others.
By Type
- Paper
- Glass
- Wood
- Metal
- Plastic
- Others
By Application
- Protective Packaging
- Food Containers
- Others
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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