Recyclable Packaging Market

The report "Recyclable Packaging Market by Material (plastics, paper, glass, metal, others), Packaging Type (Paper & Paperboard, Pouche & Envelopes, Void Fill Packaging, Buble Wrap), End-use Industry (Packaging, Building & Construction, Automotive, Electronics), and Region - Global Forecast to 2029", size is projected to grow from USD 31.0 billion in 2024 to USD 40.0 billion by 2029 at a CAGR of 5.2%.

Browse 250 market data Tables and 58 Figures spread through 271 Pages and in-depth TOC on "Recyclable Packaging Market by Material (plastics, paper, glass, metal, others), Packaging Type (Paper & Paperboard, Pouche & Envelopes, Void Fill Packaging, Buble Wrap), End-use Industry (Packaging, Building & Construction, Automotive, Electronics), and Region - Global Forecast to 2029"
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Various factors will drive the growth of recyclable packaging, owing to rising concerns regarding environmental issues and the need for eco-friendly materials, which led to an increased focus on recycling activities and sustainable alternatives. Globally, governments are backing the trend by implementing stringent regulations to reduce plastic waste and promote awareness for recyclable materials, thus commanding industries to use recyclable packaging for their products.

At the same time, top manufacturers are encouraging new sustainability targets and promoting new recyclable packaging for their products, such as corrugated boxes, kraft papers, etc. Consumers are playing a vital role in meeting the demand for a sustainable economy, and their preference for eco-friendly packaging materials is pushing manufacturers to adopt more recyclable packaging. Also, with advanced recycling technologies, the quality and availability of recycled packaging have increased. Recyclable packaging is now an easily accessible material for most of the industries. These innovations have enabled manufacturers to use recyclable packaging for their products without necessarily reducing the quality and low additional costs, which has helped boost the market.

By Material, Paper to be the fastest-growing source during the forecast period.

Paper is among the most common materials used for recyclable packaging due to its several characteristics, such as flexibility and relatively low cost. Paper has become the best alternative material for several types of popular plastic packaging, such as bubble wrap, bags, etc. Using paper as packaging material has several benefits: it prevents plastic trash from ending up in landfills, promotes environmental sustainability, and reduces waste during packaging production. Finally, paper has an essential role in the recyclable packaging market, significantly influencing the percentages that attempt to minimize the impact of packaging waste.

Paper & paperboard type is expected to be the largest market in the recyclable market during the forecast period.

Paper & paperboard are the most often recycled forms of packaging, owing to their favorable characteristics such as their strength, availability of various sizes of paperboard materials, and acceptance by consumers and industries, which make it the ideal type of recyclable packaging. The adaptability of paper & paperboard packaging allows it to be used in various end-use industries, including food & beverage, healthcare, etc.
By End-use industry, Food & Beverage accounts for the fastest-growing application during the forecast period.

Food & Beverages primarily serve a crucial application in the recyclable packaging market because of the food and beverages industry's significant influence on using sustainable materials, promoting freshness, and encouraging toxin-free packaging. The food & beverage industry uses several recyclable packaging, such as paperboard cartons, wraps, bopp films, etc. With advanced technologies, recyclable packaging has become more durable in the food & beverage industry. Additionally, Packaging manufacturers can satisfy consumer demands for eco-friendly products and play a prominent role in circular economy efforts. This helps to reduce the impact of environmental pollution from packaging waste.

Europe is the largest market during the forecast period.

Europe has emerged as the largest market for recyclable packaging because of its stringent regulations and consumer preference for environmentally friendly products. The region has encouraged the use of recyclable packaging through several programs, such as the Circular Economy Action Plan and Single-Use Plastics Directive, under which all the packaging must be reusable or recyclable by the year 2030. Furthermore, the demand for recyclable packaging in the country is driven by the large population, which increases demand for consumer products, high disposable income, and environmentally conscious consumer preferences and regulations.

The report profiles key players such as Amcor Plc (Switzerland), Mondi Plc (UK), Berry Global Inc. (US), Smurfit Kappa Group (Smurfit Westrock) (Ireland), and Ball Corporation (US)

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