Recyclable Packaging Market to Grow Immensely at a CAGR of 6.60% During The Forecast Period
Global Recyclable Packaging Market size was valued at USD 27.6 Billion in 2024 and is expected to reach USD 47.2 Billion by 2033, at a CAGR of 6.6% during the forecast period 2024 – 2033.
Recyclable Packaging Market: Overview
Recyclable packaging is defined as packaging materials that can be retrieved and utilized to make new goods or packaging materials using recycling procedures. These materials are designed to be gathered, sorted, and processed after use, enabling them to be diverted from landfills and repurposed into new goods, so decreasing waste and saving resources.
An important global trend in recyclable packaging is the growing emphasis on sustainability and environmental responsibility across sectors. Consumers, governments, and companies are seeing the critical need to decrease plastic waste and implement more environmentally friendly packaging alternatives.
This trend is increasing the need for recyclable packaging materials such as cardboard, paper, plastic, glass, and bioplastic. Companies are investing in R&D to create new recyclable packaging technologies and improve the recyclability of current packaging types.
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Furthermore, governmental actions and regulations supporting recycling and circular economy concepts have accelerated the use of recyclable packaging. With growing recognition of the negative effects of packaging waste, producers, retailers, and consumers are actively looking for solutions that reduce environmental damage while preserving product quality and safety.
As a result, recyclable packaging has become a focal point for sustainability efforts, shaping the future of packaging design and materials globally.
By material, the plastic segment held the highest market share in 2023 and is expected to keep its dominance during the forecast period 2024-2033. The plastic industry is moving towards sustainability, with an emphasis on reducing single-use plastics, enhancing recyclability, and promoting alternative materials to reduce environmental effects.
By packaging, the paper & cardboard segment held the highest market share in 2023 and is expected to keep its dominance during the forecast period 2024-2033. Paper and cardboard packaging is becoming more sustainable, with increased demand for eco-friendly choices, recyclability, and biodegradability to decrease environmental impact and fulfill customer preferences.
By end user, the food and beverage segment held the highest market share in 2023 and is expected to keep its dominance during the forecast period 2024-2033 In the food and beverage business, there is an increasing emphasis on healthier and more sustainable goods, as well as a rise in demand for plant-based alternatives and online ordering.
CMI has comprehensively analyzed the Global Recyclable Packaging market. The driving forces, restraints, challenges, opportunities, and key trends have been explained in depth to depict the in-depth scenario of the market. Segment wise market size and market share during the forecast period are duly addressed to portray the probable picture of this Global Recyclable Packaging industry.
The competitive landscape includes key innovators, after market service providers, market giants as well as niche players are studied and analyzed extensively concerning their strengths, weaknesses as well as value addition prospects. In addition, this report covers key players profiling, market shares, mergers and acquisitions, consequent market fragmentation, new trends and dynamics in partnerships.
List of the prominent players in the Recyclable Packaging Market:
- Amcor plc
- Tetra Pak International S.A.
- Mondi plc
- Ball Corporation
- Sealed Air Corporation
- DS Smith plc
- Sonoco Products Company
- Huhtamaki Oyj
- Smurfit Kappa Group plc
- Berry Global Inc.
- AptarGroup Inc.
- WestRock Company
- International Paper Company
- Stora Enso Oyj
- Bemis Company Inc.
- Sidel Group
- Greif Inc.
- Constantia Flexibles Group GmbH
- Reynolds Group Holdings Limited
- Graphic Packaging International LLC
- Others
Table of Contents: https://www.custommarketinsights.com/report/recyclable-packaging-market/#table-of-contents
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