Recyclable Packaging Market | COVID-19 Impact Outlook
Bioplastic packaging products are estimated to be more sustainable than traditional plastic packaging products because they consume less energy and natural resources, generate lower carbon emissions, and are lightweight in nature. Furthermore, growing consumer awareness and government regulations are predicted to propel industry growth over the forecast period.
Regional Analysis
The geographical analysis of the global market has been conducted into four major regions, covering Europe, the Asia Pacific (APAC), North America, and the rest of the world (including Latin America and the Middle East and Africa).
Asia-Pacific dominated the global recyclable packaging market, primarily owing to the growth in agriculture, mainly in China, Taiwan, and India. The agricultural industry in Asia-Pacific is growing due to the population and economic growth, which influences the Asia-Pacific recyclable packaging market growth. Moreover, the busy lifestyles and the growing purchasing power in the developing countries, coupled with the surging awareness regarding the benefits of recyclable packaging among consumers is also expected to propel the market growth in Asia-Pacific.
Competitive Analysis
The leading market players acknowledged by MRFR in the global market are Graham Packaging Company (US), Avery Dennison Corporation (US), Ebro Color GmbH (Germany), Salazar Packaging, Inc.(the US). COVID-19 Impact
Segmental Analysis
Based on the material type, the global recyclable packaging market is segmented into glass, tinplate, paper, plastic, biodegradable plastic, aluminum, wood, and recycled paper. The plastic segment, which consists of recyclable packaging bags, held the maximum market share in 2018 and is poised to record the fastest CAGR over the review period.
Based on the end-user industries, the global market for recyclable packaging is segmented into the personal care & cosmetics industry, healthcare industry, and food & beverage industry. The food and beverage industry held a significant market share in 2018 and is predicted to exhibit the fastest CAGR over the review period.
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https://github.com/samirk18/MRFR-SagarKinagi/issues/352
https://github.com/samirk18/MRFR-SagarKinagi/issues/353
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