Pune, Aug. 03, 2023 (GLOBE NEWSWIRE) -- The SNS Insider report indicates that "The Recyclable Packaging Market reached USD 9.3 billion in 2022 and is projected to reach USD 13.58 billion by 2030, with a compound annual growth rate (CAGR) of 4.85% during the forecast period from 2023 to 2030".
Market Report Scope
Recyclable packaging refers to materials used in the packaging of products that can be recycled or reused after their intended use. These materials are designed to be environmentally friendly, as they reduce waste and promote sustainable practices. It plays a vital role in reducing the overall environmental impact of consumer goods and is an essential aspect of the circular economy.
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Market Analysis
The growth of the recyclable packaging market is propelled by a confluence of regulatory, consumer-driven, technological, and economic factors. As sustainability continues to garner momentum and occupy a central position in global agendas, recyclable packaging will remain at the forefront of packaging solutions. Embracing this eco-friendly trend presents a unique opportunity for businesses to showcase their commitment to environmental stewardship while capitalizing on the numerous benefits that come with sustainable packaging practices.
Ambient Lighting Market Overview & Scope:
| Report Attributes | Details |
| Market Size in 2022 | USD 9.3 billion |
| Market Size by 2030 | USD 13.58 billion |
| CAGR | CAGR of 4.85 % from 2023-2030 |
| Key Segments | by Packaging Material (Paper, Glass, Plastic, Wood, Aluminium, Recycled Papers, Tinplate, Others) by Packaging Type (Paper & Cardboard, Void Fill Packaging, Bubble Wrap, Pouches & Envelopes) by End Use (Food & Beverages, Healthcare Industry, Personal Care & Cosmetics, Others) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands,Rest of Europe), Asia-Pacific (Japan, South Korea,China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
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Impact of Recession
A recession can have both positive and negative impacts on the recyclable packaging market. While there may be short-term challenges in terms of reduced demand, supply chain disruptions, and government support, there is also an opportunity for the industry to innovate and adapt to changing consumer preferences. As society becomes more conscious of its environmental footprint, the demand for recyclable packaging is likely to rebound once the economic conditions improve.
Impact of Russia-Ukraine War
The Russia-Ukraine war has significantly impacted the recyclable packaging market, leading to supply chain disruptions, price volatility, shifts in regional and global demand, and a renewed focus on sustainability and innovation. The industry is navigating through challenges while seeking new opportunities to ensure the continued growth and contribution to a more environmentally responsible future. As the geopolitical situation evolves, the market will continue to adapt and transform to meet the demands of a changing world.
Key players
Some major key players in the Recyclable Packaging market are Amcor, Be Green Packaging, Nampak, Sealed Air, Mondi, DS Smith, Evergreen Packaging, Tetra Laval, Ball Corp, International Paper and other players.
Key Regional Development
The regional dynamics of the recyclable packaging market vary significantly, shaped by factors such as government policies, consumer awareness, recycling infrastructure, and economic conditions. While some regions have made significant strides in embracing sustainability and recyclable packaging, others are gradually catching up. As the global focus on environmental preservation intensifies, it is expected that all regions will increasingly adopt and prioritize recyclable packaging solutions to create a more sustainable future for our planet.
Key Takeaway from Recyclable Packaging Market Study
- The market is witnessing a paradigm shift as industries align with the global sustainability movement. The paper packaging and food & beverages segments are emerging as dominant forces in this transformation due to their eco-friendly attributes, consumer-driven demand, and support from regulatory bodies.
- As businesses continue to embrace recyclable packaging solutions, we can look forward to a future where the environmental impact of packaging materials is significantly reduced, fostering a cleaner and greener planet for generations to come.
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Recent Developments Related to Recyclable Packaging Market
- Stora Enso, a leading renewable materials company has introduced their groundbreaking and easily recyclable packaging board grade designed specifically for frozen and chilled food packaging. This innovative solution comes as a response to the growing global concern over plastic waste and the need for more sustainable packaging alternatives.
- CKF Inc., a leading packaging solutions company, has unveiled its innovative production line for sustainable packaging manufacturing in Langley, B.C. The new production line, powered by cutting-edge technology and state-of-the-art machinery, is designed to reduce the company's carbon footprint while increasing overall production efficiency.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of Russia- Ukraine War
4.2 Impact of Ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Recyclable Packaging Market Segmentation By Packaging Material
8.1 Paper
8.2 Glass
8.3 Plastic
8.4 Wood
8.5 Aluminium
8.6 Recycled Papers
8.7 Tinplate
8.8 Others
9. Recyclable Packaging Market Segmentation By Packaging Type
9.1 Paper & Cardboard
9.2 Void Fill Packaging
9.3 Bubble Wrap
9.4 Pouches & Envelopes
10. Recyclable Packaging Market Segmentation By End Use
10.1 Food & Beverages
10.2 Healthcare Industry
10.3 Personal Care & Cosmetics
10.4 Others
11. Regional Analysis
11.1 Introduction
11.2 North America
11.3 Europe
11.4 Asia-Pacific
11.5 Middle East & Africa
11.6 Latin America
12 Company profile
12.1 Amcor
12.1.1 Company Overview
12.1.2 Financial
12.1.3 Products/ Services Offered
12.1.4 SWOT Analysis
12.1.5 The SNS View
12.2 Be Green Packaging
12.3 Nampak
12.4 Sealed Air
12.5 Mondi
12.6 DS Smith
12.7 Evergreen Packaging
12.8 Tetra Laval
12.9 Ball Corp
12.10 International Paper
13. Competitive Landscape
13.1 Competitive Bench marking
13.2 Market Share Analysis
13.3 Recent Developments
13.3.1 Industry News
13.3.2 Company News
13.3.3 Mergers & Acquisitions
14. Use Case and Best Practices
15. Conclusion
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