Dublin, Aug. 03, 2023 (GLOBE NEWSWIRE) -- The "Zero Waste Packaging Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Material, By Type, By Distribution Channel, By Application, By Region, and Competition" report has been added to ResearchAndMarkets.com's offering.
The Global Zero Waste Packaging market is poised for significant growth in the coming years, driven by the increasing demand for recyclable and reusable packaging solutions.
Zero waste packaging is emerging as a revolutionary concept in the economy, promising to pack products in a waste-free manner. By emphasizing the utilization, recycling, and reuse of materials, this approach aims to tackle the pressing issue of packaging waste that has been plaguing the world.
The detrimental impact of packaging waste on aquatic life and the formation of massive trash islands in the oceans and landfills have prompted governments to impose strict environmental regulations.
As a result, the global zero-waste packaging market is expected to witness substantial expansion in the forecast period, addressing environmental concerns while meeting the demands of sustainable packaging solutions.
Rising Demand for Recyclable/Reusable Packaging
Reusable packaging is eco-friendly & cost-effective. Many manufacturers save their money on the cost of feedstock, staff, and energy by reducing the demand for manufacturing single-use packaging material by replacing it with reusable material. Reusable packaging is durable and stronger as compared to single-use packaging as it is made for repeated usage.
High durability, wide utilization in food and non-food applications, and reuse by different industries are likely to contribute to the high growth of Global Zero Waste Packaging market in the projected years.
Growing Consumer Awareness Regarding Risks Associated with Plastic Material
The environment suffers from the extensive usage of single-use, non-biodegradable plastic packaging materials. In a landfill, plastic takes hundreds of years to decompose. It will continue to degrade the ecosystem throughout the course of that period, eventually putting the lives of humans, animals, and plants in danger.
For instance, according to the European Environment Agency, the recycling rates are highest in Austria at 63%, followed by Germany at 62%, Belgium at 58%, Netherlands and Switzerland at 51%, respectively.
In addition, according to MDPI, in 2022, Wales is one of the world leaders in household waste recycling with a steady recent recycling rate of 65%.
Therefore, growing consumer awareness of the consequences of using single-use and non-biodegradable plastic products for various packaging applications leads to the growth of Global Zero Waste Packaging Market during the forecast years.
Increasing Demand from Food & Beverage Sector
Because of their portability, long shelf life, and straightforward manufacturing, convenience foods are primarily responsible for the need for food and beverage packaging.
Due to customers' busy schedules and the aging population, convenience food is becoming more and more popular. The variety of readily available food substitutes has expanded because of innovative packaging and cutting-edge technologies, including packed, frozen, chilled, etc. Most makers of packaging are concerned with product safety and sustainability.
Consumer goods companies are packaging food more frequently, which has changed consumers' preferences for fast meals. Many chemical suppliers are also making the switch to greener practices by using less plastic for packaging.
For instance, in July 2022, Fiorini International, together with Mondi, developed a cutting-edge paper packaging option for the Italian luxury pasta product manufacturer Antico Pastificio Umbro. Thus, increasing demand for sustainable and safe packaging from the food & beverage sector is anticipated to boost the growth of Global Zero Waste Packaging Market in the upcoming years.
Market Dynamics
Drivers
- Increasing Demand for Reusable Packaging
- Rising demand from the food & beverage industry
- Growing Demand from E-Commerce Sector
Market Trends & Developments
- Product Launches
- Merger's & Acquisitions
- Technological Advancements
Challenges
- Fluctuation in Raw Material Cost
- High expense for Research & Development
Competitive landscape
Company Profiles: Detailed analysis of the major companies present in the Global Zero Waste Packaging Market.
- Loop Industries, Inc.
- PulpWorks LLC
- Ecovative LLC.
- DS Smith Plc
- Avani Eco.
- Biome Bioplastics Limited
- BIOPLA
- Hero Packaging Pty Ltd
- TIPA Ltd
- Tetra Pak International S.A.
Report Scope:
Zero Waste Packaging Market, By Material:
- Biopolymer
- Paper & Cardboard
- Glass
- Others
Zero Waste Packaging Market, By Type:
- Reusable/Recyclable
- Edible
- Compostable
Zero Waste Packaging Market, By Distribution Channel:
- Offline
- Online
Zero Waste Packaging Market, By Application:
- Food & Beverages
- Healthcare
- E-commerce
- Others
Zero Waste Packaging Market, By Region:
- North America
- United States
- Mexico
- Canada
- Europe
- France
- Germany
- United Kingdom
- Spain
- Italy
- Asia-Pacific
- China
- India
- South Korea
- Japan
- Indonesia
- Australia
- South America
- Brazil
- Argentina
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
For more information about this report visit https://www.researchandmarkets.com/r/f2b0ek
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