Recyclable Packaging for Food Market Competitive Dynamics and Outlook 2025
Posted by sagark on April 10th, 2020
Recyclable Packaging for Food Market Highlights
The growth of the retail sector with significant pace across the globe owing to the emerging market trends such as changing consumer lifestyle, increased consumer preference for eco-friendly stamped products, and the procurement of goods in smaller quantity is also supporting the demand for Recyclable Packaging for Food market. Manufacturers, retailers, distributors, and suppliers are now focusing on materials, which can be reused while retaining its conventional properties to insulate against light, heat & moisture. The introduction of bioplastics is expected to drive the demand for Recyclable Packaging for Food market as it has small carbon footprints and consumes less energy than conventional packaging materials.
The Global Recyclable Packaging for Food Market was valued at USD 25 Billion in 2018 and is expected to witness a CAGR of around 4.1% during the forecast period.
By region, the global Recyclable Packaging for Food market has been segmented into Europe, Asia-Pacific, North America, South America, and the Middle East & Africa. Asia-Pacific dominated the global market, primarily due to the growth in agriculture, mainly in China and India. The agricultural industry in Asia-Pacific is growing due to the population and economic growth, which fuels the Asia-Pacific Recyclable Packaging for Food market growth. Moreover, the busy lifestyles and the rising purchasing power in the developing countries coupled with the increasing awareness regarding the benefits of Recyclable Packaging for Food among consumers is also expected to drive the market growth in Asia-Pacific.
The global Recyclable Packaging for Food market was valued at USD 37 billion in 2018, and is expected to witness 4.1% CAGR during the forecast period.
By material type, the global market has been segmented into glass, paper, plastic, tinplate, wood, aluminum, biodegradable plastic, and recycled papers. The plastic segment is expected to register the highest growth rate during the forecast period owing to the various advantages associated with plastic recycling. These palstic materials are extremely lightweight, recyclable, and have a high load-bearing capacity.
By packaging type, the segments are paper & cardboard, void fill packing, bubble wrap, and pouches & envelopes. The paper & cardboard segment is expected to witness the highest growth during the forecast period due to the rapid adoption of recyclable materials and increasing health awareness.
Based on end-use industry, the global Recyclable Packaging for Food market is segmented into healthcare industry, personal care & cosmetics industry, and food & beverage industry. The food & beverage industry segment is expected to register the highest growth rate during the forecast period.
Access Full Report Details With TOC @ https://www.marketresearchfuture.com/reports/recyclable-packaging-market-8535
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