Recyclable Packaging Market Size Worth USD 46.13 Billion in 2032 | Analysis By Amcor Plc, Tetra Laval, Ardagh Group S.A, Ball Corporation, Elopak

The global recyclable packaging market size is expected to reach USD 46.13 Billion in 2032 and register a steady revenue CAGR of 4.8% during the forecast period, according to latest analysis by Emergen Research. Rising demand for eco-friendly packaging is a key factor driving market revenue growth. Eco-friendly packaging is typically composed of biodegradable, recycled materials, which reduces the waste of natural resources in the manufacturing process. Green packaging not only decreases the carbon footprint and environmental impact, but fulfills its purpose because the packaging materials are biodegradable. In addition, consumers are becoming aware about environmental impact, hence many businesses seek to use recyclable materials for their packaging to reduce the environmental effect of landfill trash, which in turn, is driving revenue growth of the market.

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Moreover, rising demand for recyclable packaging in the personal care sector since individuals are looking for products that come in environment-friendly packaging is another factor driving market revenue growth. For instance, on 14 October 2020, The Estée Lauder Companies (ELC) and Origins, a prestige global skincare brand that delivers high-performance formulas powered by nature and proven by science, announced a partnership with global chemical industry leader SABIC and strategic beauty packaging manufacturer Albéa to bring an advanced recycled tube package.

Origins was the first luxury cosmetic brand to use SABIC's new, advanced recycling technology to create a tube pack format comprised of previously difficult-to-recycle post-consumer mixed plastics. This strategic relationship coincides with ELC's sustainable packaging goals, which include increasing the quantity of Post-Consumer Recycled (PCR) material in its packaging by up to 50% by 2025. However, switching from traditional to eco-friendly packaging can be costly for many businesses, particularly small ones, which could restrain market revenue growth. The packaging change may result in greater production expenses as well as higher costs in other internal packaging procedures.

Some Key Highlights From the Report

• The glass segment accounted for largest revenue share in the global recyclable packaging market in 2022. This is due to rising demand for glass recycling as it results in a reduction in the amount of glass waste in landfills and trash cans. Recycled glass melts at a lower temperature. Carbon emissions are decreased by 20% to 50% by utilizing glass cullet. Every tonne of recycled glass prevents the emission of 200 kg of Carbon Dioxide (CO2). Furthermore, rising demand for recycled glass owing to outstanding reflecting qualities and hold against hard surfaces, such as granite and other composite worktops, creates demand for recycled glass, hence driving revenue growth of this segment.

• The paper & cardboard segment is expected to register steadily fast revenue growth rate in the global recyclable packaging market during the forecast period. This is due to increasing environmental consciousness and consumer preferences for eco-friendly solutions. Cardboard is a good recycling material, which is made of paper and natural wood fibers. Cardboard is commonly utilized in packaging because of recyclability, availability, and low cost. One of the major advantages of recycling cardboard is that it minimizes the amount of waste disposed of in landfills, which as a result reduces the harmful impacts, hence driving revenue growth of this segment.

• The personal care segment is expected to account for significantly large revenue share in the global recyclable packaging market during the forecast period. This is because recyclable cosmetic packaging is not as bulky because these are comprised of compostable and biodegradable materials. The procedures used to make such packaging preserve natural resources and reduce the emission of toxic effluents into environment. Furthermore, using recyclable cosmetic packaging raises the brand's visibility among environmentally conscious customers, which is also driving revenue growth of this segment.

• The Europe market accounted for largest revenue share in the global recyclable packaging market in 2022. This is due to increasing awareness among people regarding recycling practices along with government initiatives promoting the usage of recycled packaging. European countries, such as Germany and the UK, are increasing landfill tax rates to stop disposal in landfills. In Europe, 32.5% of plastic garbage is recycled, whereas approximately 25% is disposed of in landfills.

• Some major companies in the global market report include Amcor Plc, Tetra Laval, Ardagh Group S.A, Ball Corporation, Elopak, Plastipak Holdings, Inc., UFlex Limited, WestRock Company, DS Smith, and Pactiv Evergreen Inc.

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For the purpose of this report, Emergen Research has segmented the global recyclable packaging market on the basis of material type, packaging type, end-use, and region:

• Material Type Outlook (Revenue, USD Billion; 2019-2032)
o Glass
o Paper
o Plastic
o Tinplate
o Wood
o Aluminum
o Biodegradable Plastics
o Recycled Papers

• Packaging Type Outlook (Revenue, USD Billion; 2019-2032)
o Paper & Cardboard
o Bubble Wrap
o Void Fill Packing
o Pouches & Envelopes

• End-use Outlook (Revenue, USD Billion; 2019-2032)
o Food & Beverage (F&B)
o Pharmaceutical
o Personal Care
o Logistics
o Others

• Regional Outlook (Revenue, USD Billion; 2019-2032)
o North America
1. U.S.
2. Canada
3. Mexico
o Europe
1. Germany
2. UK
3. France
4. Spain
5. BENELUX
6. Rest of Europe
o Asia Pacific
1. China
2. India
3. Japan
4. South Korea
5. Rest of APAC
o Latin America
1. Brazil
2. Rest of LATAM
o Middle East & Africa
1. Saudi Arabia
2. UAE
3. Israel
4. Rest of Middle East & Africa

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