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Market Research Future (MRFR)’s new report by asserts that the global Recyclable Packaging Market Size is poised to acquire a considerable market valuation by 2025 from USD 25 billion in 2018, at a moderate CAGR of 4.1% over the review period.
The growth of the retail sector at a rapid pace across the globe owing to the emerging market trends such as changing consumer lifestyle, augmented consumer preference for eco-friendly stamped products, and the procurement of goods in smaller quantities is also supporting the demand for the Recyclable Packaging Market Size. retailers, manufacturers, distributors, and suppliers are now focusing on materials, which can be reused while retaining its popular properties to protect against light, heat & moisture. The advent of bioplastics is expected to fuel the demand for Recyclable Packaging Market Size as it has small carbon footprints and utilizes less energy than conventional packaging materials. 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. On the other hand, fluctuating raw material prices and the high cost of production may limit the industry’s growth over the forecast period.
Segmental Analysis
The global Recyclable Packaging Market Size has been analyzed on the basis of material type, packaging type, and end-use industry.
Based on the material type, the global Recyclable Packaging Market Size 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 packaging type, the global Recyclable Packaging Market Size has been segmented into bubble wrap or recycle bubble wrap, paper & cardboard, void fill packing, and pouches & envelopes. The paper and cardboard segment accounted for the largest market share in 2018 and is poised to witness the fastest growth over the assessment 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.
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 Size, 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 Size 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), Lacerta Group, Inc. (the US), Amcor (Australia), APP (Asia Pulp & Paper) (Indonesia), 3M (US), American Packaging Corporation.(US), and BASF SE (Germany), and others.
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