Outlook of the recyclable packaging materials market
Extensive research carried out by the analysts at Technavio has shown that the global recyclable packaging materials market will witness impressive growth and will post a CAGR of more than 7% over the forecast period. The overall growth in the organized retail sector, especially the increasing number of hypermarkets and supermarkets, is one of the primary factors driving the growth of this market globally. Most retail stores are more organized and use improved storage technologies than traditional retail stores. Also, emerging markets such as India and China are witnessing a steady rise in the number of such stores, which in turn will aid in the growth of this market in the coming years.
The emergence of bio-degradable plastics is one of the most significant emerging trends spurring the growth prospects for this market. Biodegradable plastics can be easily broken down by microorganisms and are less harmful and toxic for the environment, especially when compared to conventional plastics. Although they are not completely made out of recycled materials, they contain petrochemicals and biodegradable additives. The increasing adoption of materials such as polyvinyl alcohol, polyanhydrides, and polylactic acid by plastic packaging manufacturers will contribute to the growth of this market during the predicted period. Moreover, with the introduction of stringent environment compliance regulations worldwide and the increasing focus on sustainable development, the need to replace conventional plastics with biodegradable plastics will increase substantially over the next few years.
Segmentation by end users and analysis of the recyclable packaging materials market
Personal care industry
The global food packaging segment dominated the market and accounted for more than 52% of the market share in terms of revenue. Most vendors in the food packaging market prefer eco-friendly and recycled packaging materials to package food products. Moreover, the rising demand for dairy products and packaged food and beverages will contribute to this segment’s growth until the end of 2020.
Geographical segmentation and analysis of the recyclable packaging materials market
In terms of geography, Europe led the global recyclable packaging materials market and is likely to reach more than USD 4 billion by 2020. Most European countries have implemented stringent environmental regulations and have taken several steps to reduce packaging waste and make the region environment-friendly. The growing implementation of stringent regulations and the rising need to make Europe an environment-friendly region will lead to the growth of the recyclable packaging materials market in this region.
Competitive landscape and key vendors
The global recyclable packaging materials market is highly competitive due to the presence of numerous well-established international and regional vendors. The vendors compete on the basis of product differentiation, portfolios, and product pricing to gain maximum market shares. Additionally, most players are adopting effective marketing and promotion strategies and are developing improved products to sustain their position in the market.
Key vendors in this market are -
Other prominent vendors in this market are Ardagh, BeGreen Packaging, Bemis, Berkley International Packaging, Biomass Packaging, Biopac UK, Clondalkin, DS Smith, EnviroPAK, Evergreen Packaging, Georgia Pacific, Gerresheimer, Huhtamaki, Kruger, Nampak, Pratt Industries, Ranpak, SABIC, Sealed Air, and Smurfit Kappa.
Key questions answered in the report include
What will the market size and the growth rate be in 2020?
What are the key factors driving the global recyclable packaging materials market?
What are the key market trends impacting the growth of the global recyclable packaging materials market?
What are the challenges to market growth for the global recyclable packaging materials market?
Who are the key vendors in the global recyclable packaging materials market?
What are the market opportunities and threats faced by the vendors in the global recyclable packaging materials market?
What are the trending factors influencing the market shares of APAC, Europe, North America, and ROW?
What are the key outcomes of the five forces analysis of the global recyclable packaging materials market?
Technavio also offers customization on reports based on specific client requirement.
There has been a substantial increase in environmental hazards recently, due to the improper disposal of packaging waste. Burning and improper dumping of packaging waste generates carbon dioxide, which is one of the most harmful greenhouse gas. Recyclable packaging uses materials like paper, plastic, metal, and glass, which can be bent or molded as per requirement. Since recyclable packaging produces fewer toxic emissions compared to conventional packaging products, it is rapidly becoming the preferred choice for customers.
The report, global recyclable packaging materials market, is part of Technavio’s transportation and logistics research portfolio. This portfolio provides a comprehensive market analysis along with the market share, market sizing, and market segmentations covering areas such as logistics, packaging, transportation and distribution, and warehouse and storage. These market research reports provide a perspective on the various market opportunities and market threats along with the key trends that would influence the market growth during the forecast period. It presents insights into the changing competitive landscape and a detailed profiling and market analysis of the vendors. Also covered in the research are the key regions or countries that would have an impact on the market during the assessment years.