Global Recyclable Packaging Market Size By Packaging Material Type (Glass, Paper, Plastic, Tinplate, Wood), By End-User (Food, Beverage, Pharmaceutical, Personal Care), By Geographic Scope And Forecast

Recyclable Packaging Market Size And Forecast

Recyclable Packaging Market size was valued at USD 27.2 Billion in 2021 and is projected to reach USD 42.5 Billion by 2030, growing at a CAGR of 5.10% from 2023 to 2030.

Strict restrictions on the use of single-use plastics and rising consumer awareness of sustainable packaging are projected to expand the market for recyclable packaging. The industry is anticipated to grow rapidly as a result of the growing food and beverage industry, which is increasingly employing packaging made of recyclable and biodegradable materials. The Global Recyclable Packaging Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Recyclable Packaging Market Definition

Items sold by companies, individuals, and partnerships in recyclable packaging are referred to as “recyclable packaging.” For distribution, storage, sale, and use, these things are used to enclose or protect products made of recyclable materials including glass, card, metal, corrugated cardboard, paper, and others. A few benefits of recyclable packaging materials are the preservation of natural resources, the reduction of manufacturing energy, and the decrease in greenhouse gas emissions, all of which contribute to lowering the carbon footprint. Waste management is facilitated by recyclable packaging’s ability to be recycled, reused, or biodegraded. Therefore, it is projected that as recycling restrictions tighten throughout the projection period, demand for recyclable packaging would rise.

Global Recyclable Packaging Market Overview

An expanding consumer base that sets a high value on the packaging of consumer goods, foods, and drinks is expected to drive the industry to substantial growth in the next years. Global manufacturers are shifting toward more sustainable solutions in response to shifting consumer tastes. Many significant companies in the consumer products sector, such as Unilever and Procter & Gamble, have begun utilizing post-consumer recycled plastics in their packaging solutions to advance their environmental objectives. A Unilever subsidiary, Hindustan Unilever Limited, has committed to using only recyclable packaging by the year 2025 and has moved from commodity polymers to performance-based polymers.

This is pushing up the Recyclable Packaging Market in different parts of the world. Premium apparel companies like H&M, which strives for 100% circularity in the value chain and employs organic chemicals for labeling and printing to promote safer product recycling, are following the trend. Many businesses are compelled to adopt green packaging as a result of the significant growth of these initiatives to remain competitive in the market, therefore, boosting the Recyclable Packaging Market.

Recyclable packaging is used by businesses that sell Fast Moving Consumer Goods (FMCG), which have lower profit margins per unit and are resistant to cost markups. To save money on shipping and raw materials, some companies are implementing light weighing tactics. Consumer behavior has a direct impact on packaging decisions for food and beverage applications. However, low-quality packaging made from recyclable materials may not be as preferred by consumers, hurting the market for recyclable packaging. The market for recyclable packaging may suffer from a lack of government limitations, particularly in the APEJ region.

The expansion of the market for recyclable packaging may be constrained by manufacturers’ ignorance regarding the choice of packaging material. Furthermore, the demand for recyclable packaging is being supported by market trends such as shifting consumer lifestyles, buying items in smaller quantities, and rising consumer desire for products with eco-friendly stamps. Manufacturers, distributors, suppliers, and retailers are putting more emphasis on materials that can be recycled while maintaining their typical abilities to block out light, heat, and moisture.

Global Recyclable Packaging Market Segmentation Analysis

The Global Recyclable Packaging Market is segmented on the basis of Packaging Material Type, End-User, And Geography.

Recyclable Packaging Market, By Packaging Material Type

• Glass
• Paper
• Plastic
• Tinplate
• Wood
• Aluminum
• Biodegradable Plastics
• Recycled Papers

Based on Packaging Material Type, The market is bifurcated into Glass, Paper, Plastic, Tinplate, Wood, Aluminum, Biodegradable Plastics, and Recycled Papers. It is estimated that the paper sector will generate the most revenue throughout the forecasted time. Paper-based packaging has the highest recycling rate of any type of packaging because of well-established recycling processes and practices. Paper waste can be recycled seven times before the fibres become too fragile to be used again. Paper packaging offers clients convenient storage that is appealing, easy to use, and especially eco-friendly, which are important factors promoting the growth of this industry.

Recyclable Packaging Market, By End-User

• Food
• Beverage
• Pharmaceutical
• Personal Care
• Logistics
• Others

Based on End-User, The market is bifurcated into Food, Beverage, Pharmaceutical, Personal Care, Logistics, and Others. The beverages segment is predicted to outperform the other categories in terms of revenue share throughout the forecast period. Numerous beverages may be purchased, ranging from water to alcohol, all of which require packaging before being served to clients. Drinks can be packaged in a variety of recyclable ways, such as glass, aluminum cans, recyclable plastic bottles, and innovative paper-based water boxes, all of which can support the growth of this industry’s revenue.

Recyclable Packaging Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the world

On the basis of Geography, The Global Recyclable Packaging Market is classified into North America, Europe, Asia Pacific, and Rest of the world. The biggest market share is held by Europe. The expansion of the region’s revenue is partly attributable to the adoption of tougher goals in the area, such as the demand for only recyclable packaging and fines for introducing non-recyclable packaging. Additionally, many companies, particularly in countries like France, Germany, and the United Kingdom, go above and beyond the European Union’s very severe recycling rules with Extended Producer Responsibilities (EPRs). The Recyclable Packaging Market in Europe is predicted to register substantial revenue growth throughout the course of the forecast period due to the existence of significant industry players in the region.

Key Players

The “Global Recyclable Packaging Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are BASF SE (Germany), APP (Asia Pulp & Paper) (Indonesia), 3M (US), Amcor (Australia), Lacerta Group, Inc. (US), Salazar Packaging, Inc.(US), American Packaging Corporation(US), Graham Packaging Company (US), Avery Dennison Corporation (US), and Ebro Color GmbH (Germany).

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis.

Key Developments

• In October 2021, With the introduction of Biovero, a bio-based plasticizer, Cargill is expanding its portfolio of bio-industrial solutions. This product is used for a wide range of product manufacturing applications, including the production of flooring, clothing, wires, cables, plastic films, and sheets for its industrial customers in North America.
• In February 2021, Secret and Old Spice have introduced inventive refillable antiperspirant cases at select locations around the country to lessen plastic waste. Additionally, both companies will increase the selection of aluminum-free deodorants in recyclable paper tubes with Forest Stewardship Council-certified packaging consisting of 90% recycled paperboard (FSC).
• In January 2019, As part of a new initiative to reduce the dependence on single-use packaging and disposable waste, The Procter & Gamble Company announced the launch of reusable, refillable packaging on some of its most well-known goods. Additionally, as part of a collaboration with LoopTM, a circular e-commerce platform created by global recycling pioneer TerraCycle, new “collect and recycle” circular solutions that aid in waste elimination was also unveiled. Later this year, several of P&G’s most well-known international brands, including PanteneTM, TideTM, CascadeTM, and Oral-BTM, will take part in this ground-breaking platform.

Ace Matrix Analysis

The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.

Market Attractiveness

The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Global Recyclable Packaging Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. Porter’s five forces model can be used to assess the competitive landscape in the Global Recyclable Packaging Market, gauge the attractiveness of a certain sector, and assess investment possibilities.

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