Recyclable Packaging Market - Rising Trend & Dynamic Forecast to 2025
The global study of the recyclable packaging market reveals the possibility of recording 4.1% CAGR during the forecast period of 2019 to 2025. Market Research Future (MRFR) identified factors like the growing demand for eco-friendly measures, consumer awareness regarding the environmental crisis, availability of proper technological support, easy inclusion of advanced technologies, financial backing, the better scope for research and development, and others. The introduction of bioplastics can boost the growth of the market further. However, these packaging modes lack durability, which might hold back the market in the coming years.
The global recyclable packaging market includes a proper understanding of several segments like packaging type, material type, and end-use industry.
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By material type, the global recyclable packaging market includes paper, plastic, glass, wood, biodegradable plastic, aluminum, tinplate, and recycled papers. The plastic segment or the recyclable packaging bags had the largest market share in 2018 and has the chance to register the highest CAGR during the forecast period.
The report on the global recyclable packaging market by packaging type depends on a study of bubble wrap or recycle bubble wrap, void fill packing, paper & cardboard, and pouches & envelopes. The paper & cardboard segment dominated the global market in 2018 and is deemed to record the highest CAGR over the review period.
By end-use industry, the study of the recyclable packaging market includes the personal care & cosmetics industry, healthcare industry, and food & beverage industry. The food & beverage industry segment had the lead in 2018.
Asia Pacific is expected to continue its market dominance during the forecast period. This region is known for its growing industries and a huge consumer base, which are directly impacting the market. In Europe and North America, stringent regulations will play a favorable role in the recyclable packaging market.
Ebro Color GmbH (Germany), Graham Packaging Company (US), Salazar Packaging, Inc.(US), Lacerta Group, Inc. (US), APP (Asia Pulp & Paper) (Indonesia), Amcor (Australia), 3M (US), Avery Dennison Corporation (US), American Packaging Corporation (US), BASF SE (Germany), and others impact the recyclable packaging market with their strategic developments.
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