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Home » Recyclable Packaging Market Expected to Grow 7 Percent Worldwide Through 2020

Recyclable Packaging Market Expected to Grow 7 Percent Worldwide Through 2020

August 12, 2016
Technavio

The report segments the market on the basis of types of materials, end-users and geography. The report also presents the vendor landscape and a corresponding detailed analysis of the top five vendors operating in the market.

Europe was the largest market for recyclable packaging with Germany dominating the market in the region. The high market share of this region can be attributed to the presence of major consumer goods companies such as Nestlé and Pernod Ricard.

Technavio transportation and logistics analysts highlight the following four factors that are contributing to the growth of the global recyclable packaging materials market: standardized industry norms, increased demand from food and beverages industry, growth in organized retail sector and increased demand from APAC.

Standardized industry norms

"The global recyclable packaging materials market is witnessing the standardization of rules, regulations and methods relating to the manufacture of sustainable green packaging," says Sharan Raj, a lead analyst at Technavio for packaging research. Currently, retailers and manufacturers follow varied international standards; however, common measures and standards for the manufacturers are being implemented globally.

In addition, the International Organization for Standardization has implemented standards with respect to reusing, recycling, energy recycling, chemical recovery, and organic recovery activities. For example, ISO 18603:2013 lists the pre-qualifying criteria for packaging to be categorized as reusable and sets out assessment techniques for meeting these requirements.

Increased demand from food and beverages industry

The food and beverages industry is the largest consumer of recyclable packaging materials and contributes a large share to the global recyclable packaging materials market. Manufacturers of foods and beverages demand eco-efficient packaging materials that can preserve food and maintain its nutritional value.

Companies like Cadbury, Coca-Cola, ConAgra Foods, Nestlé, and Pepsico use sustainable packaging materials, including plastic and metals, which gives them a competitive advantage over other market players. The food and beverages industry in the U.S. has planned to eliminate 4 billion pounds of packaging waste between 2005 and 2020.

Growth in organized retail sector

Growth in this sector has led to the rise of numerous supermarket and hypermarket chains. An increasing number of consumers in emerging markets such as India and China are purchasing grocery items in bulk from organized retail stores due to incentives such as discounts and promotions. This has led to an increase in demand for food and beverages products, which in turn has led to an increase in demand for recycled packaging materials. This demand is expected to increase further during the forecast period.

Increased demand from APAC

APAC sees a huge demand for dairy packaging. In 2013, the market witnessed the highest growth in terms of volume in the dairy sector with a sales volume of 465 billion units.

The dairy sector is expected to witness a rapid surge in liquid carton and rigid packaging by 2017. The growth will be mainly in the brick liquid cartons segment for flavored milk drinks packaging and in the plastic containers segment for yogurt packaging. This trend is set to continue during the forecast period, which is indicative of the growing purchasing power and changing tastes of consumers in this region. This will fuel the demand for the recyclable packaging materials market during the forecast period.

Source: Technavio

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