Recyclable Packaging Market Size, Share, Opportunities, And Trends By Material Type (Glass, Paper, Plastic, Metal, Tin, Aluminum, Wood, Others), By Packaging (Primary, Secondary, Tertiary), By End-User (Food And Beverages, Pharmaceutical And Healthcare, Personal Care And Cosmetics, Others), And By Geography - Forecasts From 2023 To 2028

Market Overview:

Recyclable resources are used to create recyclable packaging, which is used to enclose or protect things for storage, distribution, and sale. 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. Several companies have recently promised to lessen the environmental impact of their packaging in response to public criticism and awareness of this issue. Similar steps are being taken by food and beverage companies, some of whom have long been at the forefront of packaging innovation. For instance, McDonald's aims to use 100% certified, recycled, or renewable materials by the end of 2025. As of 2021, about 82.7% of McDonald's primary packaging materials and 96.8% of primary fibre packaging originate from recycled or certified sources (Source: corporate.mcdonalds.com).

Growth factors:

• Increased innovation in eco-friendly packaging

Eco-friendly packaging is constructed of recycled materials, is simple to recycle, and is safe for people and the environment. It represents a big advance toward packaging that is more environmentally responsible. The need for eco-friendly packaging has increased as a result of rising public awareness of environmental issues and the pollution generated by conventional packaging, such as plastic. This increased demand is significantly anticipated to drive expansion in the worldwide recyclable packaging market. For instance, Samsung's 2021 Sustainably Report claims that among its eco-packaging options are a variety of up cyclable TV product packaging for models like The Serif and The Sero. For example, corrugated cardboard boxes can be upcycled into goods like pet supplies and tiny furniture. The boxes can be printed with QR codes and a dot pattern matrix so that customers can verify the directions for upcycling.

• Increasing concern about recycling plastic packaging waste

As a result of shifting substrate preferences and the emergence of new end industries, the global packaging market has expanded quickly during the past 10 years. In the recycling mechanisms in place today, a sizable portion of the packaging generated cannot be recycled. The rising usage of plastics to substitute other substrates and satisfy consumer demand for convenience are among the headline trends. Between 2010 and 2020, there was a 23% (+6.5 kg) increase in the amount of plastic packaging waste produced per person in Europe (Source: ec.europa.eu). The increasing use of single-use packaging containers has put a significant environmental strain on the planet. Governments are enacting rules to reduce environmental waste and enhance waste-management procedures in response to public concerns about packaging waste, particularly single-use packaging waste, on all continents. For instance, 2020 saw the implementation of new reporting requirements for recycling. One of these is a uniform calculation point for recycling, and another is stricter fractional accounting of composite packaging materials. As a result, Europe had a nearly 3-point drop in percentage (from 41% in 2019 to an expected 38% in 2020) (Source: ec.europa.eu).

• The segment with the highest sales growth will be paper packaging

By kind of packaging material, 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. For instance, in October 2022, the Finish dishwasher detergent brand introduced paper-based packaging as a result of a partnership between Reckitt and Mondi, to reduce over 2,000 tonnes of plastic annually, or the equivalent of 50 million 1-litre bottles. 75% paper makes up the new Finish stand-up pouch. The remaining plastic is said to provide durability, water resistance, and a resealable seal in addition to strengthening the paper's structure.

Key Developments:

• October 2022: Innovative, recyclable ice cream packaging built with 95% renewable biobased materials was introduced by Huhtamaki in the US. The connected packaging QR code gives customers more details about sustainability.
• July 2022: For about $78.4 million, Thailand-based packaging supplier SCG Packaging purchased Peute Recycling, a Dutch business that recycles and trades packaging materials. The purchase is consistent with SCG Packaging's long-term plan to strengthen all aspects of its packaging business, from sourcing raw materials through upstream and downstream production to integrated packaging solutions.
• December 2021: An alternative to polyethylene (PE) packaging has been introduced by Scotland-based Premier Packaging under the name PaperLock. This product is created from vegetable fibers and doesn't contain microplastics; it has been given FDA approval. This indicates that it is entirely and simply recyclable. It may be integrated into common packaging, loading, and sealing devices as well as vertical forming equipment, saving suppliers the expense of extra shop floor improvements.

COVID-19 Impact

Before COVID-19, businesses were making good progress toward their sustainability objectives. However, the coronavirus pandemic has had a severe impact on a wide range of global companies, particularly the packaging sector. Innovative environmental, reusable, and biodegradable technologies were being developed by packaging companies. The packaging industry's progress toward a sustainable and circular supply chain was, however, temporarily delayed by worries about the hygiene and safety of recycled packaging that had been reused. However, governments from all over the world are aware of the value and benefits of eco-friendly packaging. Governments of some countries have adopted several measures, such as committing to the Paris Agreement's sustainable development goals, which will enhance community well-being and spur the expansion of the recyclable packaging market soon.

Segmentation:

• By Material Type
  • Glass
  • Paper
  • Plastic
  • Metal
  • Tin
  • Aluminum
  • Wood
  • Others
• By Packaging
  • Primary
  •  Secondary
  • Tertiary
• By End-User
  • Food and Beverages
  • Pharmaceutical and healthcare
  • Personal care and cosmetics
  • Others
• By Geography
  • North America
    • United States
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Others
  • Middle East and Africa (MEA)
    • Saudi Arabia
    • UAE
    • Isreal
    • Others
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Indonesia
    • Thailand
    • Taiwan
    • Others