Enjoy complimentary customisation on priority with our Enterprise License!
The recycled materials packaging solutions market size is forecast to increase by USD 63.4 billion at a CAGR of 4.82% between 2023 and 2028.
The industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The market experiences significant growth, particularly in the food and beverages segment. Consumers' changing lifestyles and food preferences drive the expansion of the packaged food and beverage industry. In response, businesses introduce innovative products, boosting the demand for recycled materials packaging solutions. Paper and paperboard containers, for instance, are increasingly popular due to their consumer appeal and durability during transportation. This trend is projected to continue, contributing to market growth in the food and beverages sector throughout the forecast period.
Get a glance at the market report of share of various segments Request Free Sample
The Food and beverages segment was valued at USD 144.30 billion in 2018 and showed a gradual increase during the forecast period.
Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
For more insights on the market size of various regions, Request Free Sample
The market in Asia Pacific (APAC) is experiencing significant growth due to increasing demand from industries such as food and beverage, pharmaceuticals, e-commerce, and organized retail in countries like China, India, Australia, Singapore, Japan, Malaysia, and South Korea. The adoption of recycled materials for packaging solutions, including paper, corrugated boards, and boxboards, is on the rise, driving market growth. Major companies are expanding their presence in APAC, attracted by the region's low-cost labor and abundant raw materials. This trend is expected to continue during the forecast period. The use of recycled materials in packaging not only helps reduce environmental impact but also conserves natural resources such as trees and energy.
By recycling materials, we minimize the need for extracting new raw materials, reducing pollution from landfills, and conserving energy that would otherwise be used in manufacturing new products from raw materials. The recycling process involves collection, processing, and manufacture of recycled materials into new products. Iron, steel scrap, aluminum cans, glass bottles, and paper are among the most commonly recycled materials. Other materials, such as electronics, computers, cellular phones, batteries, textiles, wood, wire, cables, rubber, and construction debris, are also being recycled in increasing quantities. The recycling industry plays a crucial role in reducing waste, conserving resources, and minimizing pollution.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increasing demand for recycled plastics from packaging industry is the key driver of the market.
Growing use of recycled materials packaging solutions in the ecommerce industry is the upcoming market trend.
Lack of awareness and acceptance of recycled materials packaging solutions is a key challenge affecting the industry growth.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence In the industry.
The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market encompasses the production, collection, processing, and manufacture of packaging materials using recycled resources. These resources include, but are not limited to, glass, aluminum, plastic, paper, electronics, textiles, wood, wire, cables, rubber, and various types of scrap metals. Recycling these materials for packaging applications offers significant environmental benefits, such as reducing the demand for raw materials derived from non-renewable resources and minimizing waste in landfills. The market is driven by several factors. The increasing awareness of environmental sustainability and the growing concern over pollution are key factors propelling the market forward. The depletion of natural resources and the associated rising costs are also contributing to the market's growth.
Additionally, regulatory initiatives and policies promoting the use of recycled materials in packaging are providing a strong impetus to the market. The collection and processing of recyclable materials are crucial steps In the recycled materials packaging solutions value chain. Effective collection systems ensure that a sufficient quantity and quality of recyclable materials are available for processing. Processing technologies play a vital role in transforming these materials into usable forms for packaging applications. The market is dynamic, with ongoing advancements in technology driving innovation. For instance, the development of advanced sorting systems is enabling more efficient separation of different types of recyclable materials, enhancing the quality of the recycled materials and expanding their potential applications.
Furthermore, the market is also influenced by various challenges. The complexity of the recycling process and the associated costs are significant barriers to entry for new market participants. Additionally, public resistance to recycling initiatives and the lack of a standardized system for collecting and processing recyclable materials can hinder market growth. Despite these challenges, the market is expected to continue growing, driven by the increasing demand for sustainable packaging solutions and the need to reduce waste and conserve natural resources. The market's future growth will be shaped by advancements in technology, regulatory initiatives, and the evolving consumer preferences towards eco-friendly packaging.
Market Scope |
|
Report Coverage |
Details |
Page number |
141 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.82% |
Market growth 2024-2028 |
USD 63.4 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.35 |
Key countries |
US, China, UK, Germany, and India |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
Get the report (PDF) sent to your email within minutes.
Complimentary full Excel data with your report purchase.
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.