Recyclable Packaging Market 2023 Company Business Overview, Latest Advancement, Detail Analysis and Forecast 2030

Recyclable Packaging Market was valued at USD 25 Billion in 2018 and is expected to witness a CAGR of around 4.1% during the forecast period.

Furthermore, sustainable packaging materials is a very crucial step that is inclined towards environment consideration of reduce, reuse, & recycle. Also, it is a very important step towards sustainable packaging. Besides, another driving factor in the market is rising demand environment-friendly packaging methods with changing demand by consumers is expected to further propel the market during the forecast period. However, less durability and lightweight of reusable packaging is expected to restrain market growth. Moreover, the introduction and implementation of bioplastics is expected to create an opportunity for the players in the recyclable packaging market, especially those in the compostable packaging business.

The global market for recyclable packaging has been witnessing moderate growth in the past couple of years. The demand for recyclable packaging and green packaging material is expected to be driven by increasingly stringent regulations for adopting recycling packaging materials and consumer awareness regarding healthy lifestyles and eco packaging. Moreover, the awareness regarding the reuse and recycling of biodegradable plastic has been increasing rapidly. Such factors have led to the growth in the recyclable packaging materials, driving the growth of recyclable packing market across the globe.

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Global Recyclable Packaging Market: Regional Analysis

The Global Recyclable Packaging Market has been segmented, based on region, into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America. In 2018, Asia-Pacific held the largest share in the global recyclable packaging market, followed by North America and Europe; it is expected to continue its dominance until 2025.

The rising demand for the sustainable packaging mainly in countries such as China and India, is one of the major factors, which is expected to raise the demand for recyclable packaging in the region during the forecast period.

North America region is anticipated to register higher growth rate owing to the increasing R&D investments for product innovation and development of packaging materials. Moreover, stringent government regulations against recycling of packing materials in US and Canada has propelled the demand for smart packaging in the food & beverage industry.

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Global Recyclable Packaging Market: Segmentation

The Global Recyclable Packaging Market has been segmented based on material type, packaging type, and end-use industry. Based on material type, the global market is segmented by glass, paper, plastic, tinplate, wood, aluminum, biodegradable plastic, and recycled papers. The plastic segment also known as recyclable packaging bags held the largest market share of the global recyclable packaging market in 2021 and is expected to witness the highest CAGR during the forecast period.

Based on packaging type, the global market has been segmented into paper & cardboard, void fill packing, bubble wrap or recycle bubble wrap, and pouches & envelopes. The paper & cardboard segment held the largest market share of the global recyclable packaging market in 2018 and is expected to witness the highest CAGR during the forecast period.

Based on end-use industry, the global market has been segmented into healthcare industry, personal care & cosmetics industry, and food & beverages industry. The food & beverages industry segment held the largest market share of the global recyclable packaging market.

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Key Players

The Key Players in the Global Recyclable Packaging Market are Graham Packaging Company (US), Ebro Color GmbH (Germany), Lacerta Group, Inc. (US), Salazar Packaging, Inc.(US), Amcor (Australia), 3M (US), APP (Asia Pulp & Paper) (Indonesia), American Packaging Corporation.(US), Avery Dennison Corporation (US), and BASF SE (Germany) are some of the other key players operating in the global recyclable packaging market.

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