SEATTLE, May 17, 2022 (GLOBE NEWSWIRE) -- The global zero waste packaging market is estimated to be valued at US$ 1431.93 million in 2021 and expected to exhibit a CAGR of 9.4% during the forecast period (2021-2028).
Key Trends and Analysis of the Global Zero Waste Packaging Market:
Many people are becoming aware of the need to reduce the use of traditional packaging methods such as plastic packaging that can leave waste behind and cause harm to the environment. Consequently, people are considering better choices that are eco-friendly and advantageous for the environment. As per the U.S. EPA (Environmental protection agency) in 2020, it had estimated that almost 42% of all greenhouse gas emissions are caused due to the production and use of goods including food items as well as packaging. The waste that emerges from packaging ultimately ends up in landfills or is dumped into the oceans. Such waste may negatively impact the aquatic life in the oceans and result in tremendous islands of trash. This has led governments of different countries to focus on framing policies and implementing stringent rules and regulations related to environmental conservation to protect the environment from further degradation, which in turn is expected to boost the demand for zero waste packaging products.
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Key Market Takeaways:
The global zero waste packaging market is expected to exhibit a CAGR of 9.4% over the forecast period (2021-2028). Zero-waste packaging is generally known as the procedure for packaging, wherein materials are either totally used, reused or recycled. Packaging manufacturers are exploring the packaging potential of natural products such as corn starch, mushroom, etc. For instance, Saltwater Brewery, a small craft brewery is famous for its six-pack rings for beer cans which are made from barley and wheat. These six-pack rings are edible, and when these edible rings are disposed of in the ocean, they can become food for fishes in the ocean.
Zero-waste packaging offers several benefits in various industries. Instead of plastic packaging, many manufacturers are switching to minimal packaging and using materials such as wood, as well as eco-friendly and reusable materials. For instance, Unwrapped Life, a Canadian company that manufactures personal care products, has been using Kraft paper for the packaging of their products including shampoo bar, condition bar, soap bar, and others. They have switched from plastic tape to Kraft tape. Compostable packaging materials are also good alternatives for paper-based packaging materials. For instance, packaging of coffee made by Level Ground Trading, a part of the Grocery and Related Product Merchant Wholesalers Industry is made from wood pulp which is completely biodegradable.
Competitive Landscape:
Major players operating in the global zero waste packaging market include Loop Industries Inc., PulpWorks Inc., Avani Eco, Loliware, Lifepack, Aarohana Ecosocial Development, Package Free, GO Box, World Centric, and Biome.
Mergers and acquisitions, strategic collaborations, new product launches, and business expansions are the key strategies adopted by key players to retain their market share. For instance, brands such as Unilever and Coca-Cola are taking initiatives to acknowledge the need for zero-waste packaging solutions. For example, in 2019, Coca-Cola launched ‘World Without Waste’ Initiative with an aim to achieve use of 50% recycled materials by 2030 Coca-Cola likewise plans to gather and reuse one can or bottle for each product sold. Also, Unilever, a global consumer goods company offering home products and personal care products, announced that, by 2025 they will diminish all Virgin plastics by 50%. It cleared a path for handling and gathering plastic packaging in new ways possible.
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Market Segmentation:
- Global Zero Waste Packaging Market, By Type:
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- Re-Usable Goods
- Compostable Goods
- Edible Goods
- Global Zero Waste Packaging Market, By Distribution Channel:
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- Supermarkets/Hypermarkets
- Specialty Stores
- Online Sales Channels
- Others
- Global Zero Waste Packaging Market, By End User:
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- Food and Beverage
- Healthcare
- Personal Care
- Others (Industrial, etc.)
- Global Zero Waste Packaging Market, By Region:
- North America
- By Country:
- North America
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- U.S
- Canada
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- Latin America
- By Country:
- Latin America
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- Brazil
- Mexico
- Argentina
- Rest of Latin America
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- Europe
- By Country:
- Europe
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- Germany
- U.K
- France
- Italy
- Spain
- Russia
- Rest of Europe
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- Asia Pacific
- By Country:
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country:
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- Middle East & Africa
- By Country/Region:
- Middle East & Africa
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- Middle East
- Africa
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Global Green Packaging Market, by Material (Plastic, Metal, Glass, and Others), by Process Type (Recycled Content Packaging, Re-Usable Packaging, Degradable Packaging), by Packaging Type (Plastic Packaging, Metal Packaging, Glass, and Others), and by End-Use Industry (Food and Beverages, Healthcare, and Others) - Insights, Size, Share, Opportunity Analysis, and Industry Forecast till 2025
Flexible Packaging Market, By Product Type (Stand-up Pouches, Vacuum Pouches, Retort Pouches, Converted Roll Stock, Gusseted Bags, Wicketed Bags, Laminated Tubes, Squeezable Bottles, Others), By Material Type (Polymer (Polyethylene (LDPE, HDPE, LLDPE), Polypropylene, BOPP, Cast polypropylene, BOPET, Polyamide, Poly Vinyl Chloride, Ethylene Vinyl Alcohol, Poly Styrene), Paper, Aluminum, Cellulosic), By Application (Consumer Goods (Food & Beverages (Dairy Products, Bakery & Confectionery, Ready-to-Eat Food Products, Frozen & Chilled Food, Tea, Others), Personal Care, Pharmaceuticals, Tobacco, Others), Industrial and Institutional), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027
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