Recycled Materials Packaging market Report speaks about the Market analysis. The process is analyzed thoroughly with respect three points, viz. Types, Application and Manufacturers with associated Recycled Materials Packaging Cost Analysis (material cost, labour cost, etc.) and Recycled Materials Packaging market size.
Short Overview Of Recycled Materials Packaging Market Report
The global recycled materials packaging solutions market was valued at USD 210.82 billion in 2017 and is expected to reach USD 253.87 million by 2023 at a CAGR of 3.06% over the forecast period 2018-2023. The market is segmented by the type of material, industry verticals, and geography. This report focuses on adoption of these solutions by various end-users within various regions. The study also emphasizes on latest trends, industry activities, and vendor market activities.
Government mandates across the world and growing environmental consciousness have made the marketing of packaging solutions more cause-driven. Recycled packaging solutions are helping companies differentiate their products in the market along with reaching their sustainability goals. For instance, Amcor is pledging to develop all of its packaging to be recyclable or reusable by 2025.
Factors like increasing urbanization, the rise in demand for off-the-shelf products, are some of the factors, further driving the market. The growing solar energy market, due to increasing dependence on renewable energy sources, along with the subsidies available for energy storage, is anticipated to propel the growth of the market, thus, accelerating the glass demand in the market.
However, increasing number of governments, in even countries, like China and India, who have so far neglected sustainable packaging initiatives, have banned the use of lightweight single-use plastic bags or have started taxing them heavily. This has compelled businesses to look beyond the use of petroleum-based plastics to alternatives derived from plants, or even synthesized by microorganisms, and is considered to be the key to a sustainable future. These biodegradable alternatives to existing solutions in the market are likely to stall the market.
Growing Conscientious Population Adopting Sustainable Solutions
World population has exceeded 7.2 billion, out of which, it is estimated 2.5 billion are âmillennialsâ (of the age 15-35), and unlike the other generations they actually share a deep concern about environmental issues. Majority of these consumers are skeptical about the corporate responsibility claims made and have brought an ethical consumer revolution demanding ethically produced goods.
According to a study done by Wrap, a social organization in the United Kingdom, that works with businesses together in order to drive social and economic improvement within the environmental limits of the planet by making the use of resources and production of goods more efficient and sustainable, 82% of the customers are concerned about wasteful packaging, while 35% consider what packaging is made of when buying in-store and 62% do consider what the packing material is made of when they come to dispose it.
Further, according to a similar study done by Carton Council of North America, 86% of the consumers expect food & beverage brands to actively help to recycle their packages and 45% of them said, that their loyalty to a food & beverage brand would be impacted by the brands engagement with environmental causes, thus driving the demand for recycled materials for packaging. (Source: Carton Council of North America)
Paper Based Packaging Solutions to Dominate the Market
Companies around the world are adopting sustainable packaging solutions, which include usage of biodegradable paper and recyclable paper. Both the markets are witnessing huge adoption owing to cleaner environment movements across the globe. However, recycling remains one of the major trends observed in the industry. Although paper products are biodegradable, the process has been identified to be inconsistent in landfills owing to the presence of external elements. The impact of landfills is creating concerns among the municipalities. Thus, governments and organizations are pushing recycling over landfill disposables, with biodegradable packaging having high recyclability, owing to the absence of additional artificial elements. As product recyclability is growing, many industries are demanding recycled paper products over virgin solutions, owing to their lower energy consumption.
Chinese Market Expected To Witness Turbulence
Stricter enforcement of regulations on food safety, clean production, hygienic packaging, together with modern Chinese consumersâ sophisticated requirements and attitudes toward product packaging, has pressured large downstream clients to progressively implement advanced, innovative, environmental-friendly packaging solutions.
At the end of 2017, China banned most imports of foreign recyclables to focus on waste produced by its residents. The country had been the largest world market for plastics and other recycled materials.
This specifically targets imports of plastics scrap for recycling, and could include tighter customs controls nationwide and restrictions on imported waste plastics coming into China through smaller ports.
As a result, only 9.3 tonnes of plastic scrap was approved to enter China in January 2018. It is stressed that this is more than a 99% reduction as compared with the 3.8+ million tonnes approved to be imported at the start of 2017. The drastic change has caused the market with a supply gap of around 5 million tonnes of plastic scrap.
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Top key players:
- Amcor Ltd.
- Be Green Packaging LLC
- Berkley International Packaging
- Biopac UK Ltd
- Evergreen Packaging LLC
- International Paper
- Kruger Inc.
- Mondi Group
- Ranpak Corp
- Smurfit Kappa Group
- Tetra Laval
Main points include in This Market Research Report contains additional information of following points are as follows:
- Market growth
- Market Trends
- Market Forecast
- Market Size
- Cost Analysis
Reasons to Purchase the Report
Recycled Materials Packaging market along with Report Research Design:
Recycled Materials Packaging Market Historic Data (2013-2017):
- Industry Trends:Global Revenue, Status and Outlook.
- Competitive Landscape: By Manufacturers, Development Trends.
- Product Revenue for Top Players: Market Share, Growth Rate, Current Market Situation Analysis.
- Market Segment: By Types, By Applications, By Regions/ Geography.
- Sales Revenue: Market Share, Growth Rate, Current Market Analysis.
Recycled Materials Packaging Market Influencing Factors:
- Market Environment:Government Policies, Technological Changes, Market Risks.
- Market Drivers: Growing Demand, Reduction in Cost, Market Opportunities and Challenges.
Recycled Materials Packaging Market Forecast (2018-2023):
- Market Size Forecast:Global Overall Size, By Type/Product Category, By Applications/End Users, By Regions/Geography.
- Key Data (Revenue):Market Size, Market Share, Growth Rate, Growth, Product Sales Price.
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Trend and forecast analysis: Market trend, forecast and Analysis to 2023 by segments and region.
Segmentation analysis: Global Recycled Materials Packaging market size by various applications such as product, material, shape, and end use in terms of value and volume shipment.
Regional analysis: Global Recycled Materials Packaging market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
Growth opportunities: Analysis on growth opportunities in different applications and regions in the global Recycled Materials Packaging
Strategic analysis:This includes new product development, and competitive landscape in the global Recycled Materials Packaging
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Recycled Materials Packaging Market report also include data type such as capacity, production, market share, price, growth rate, consumption, import, export etc. Industry chain, manufacturing process, cost structure, marketing channel are also analyzed in this report.