Research Nester has released a report titled “Zero Waste Packaging Market – Global Demand Analysis & Opportunity Outlook 2027” which delivers detailed overview of the zero waste packaging market in terms of market segmentation by concept type, by material type, by distribution channel and by end-user industry.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The zero waste packaging market is segmented by end-user into food and beverage, healthcare, personal care, industrial and others, out of which, the food and beverage segment is anticipated to have largest market share on account of growing demand for FMCG consumables, owing to increasing population and their disposable income.
The zero waste packaging market is anticipated to record a significant CAGR during the forecast period. Generation of large amount of wastes leading to growing ecological concerns and formation of stringent government regulations imposed globally is estimated to promote the demand for sustainable packaging throughout the forecast period.
Regionally, the zero waste packaging market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these regions, North America is expected to have largest market share on the back of rising disposable income, particularly in the U.S. Moreover, rising awareness related to zero waste packaging among people is estimated to propel the growth of the market in North America region over the forecast period.
Left Over Wastes – A Growing Environmental Concern
Throughout the world, packaging waste has been a major problem that is raising concerns related to the environmental degradation. Waste which is dumped in the oceans and landfill is contributing to vast islands of trash, further disturbing the aquatic life and overall environment.
This has led to numerous initiatives such as “zero waste stores” where consumers have to bring their own re-usable packaging material, such as bags and jars among others. Driven by environmental concerns, numerous enterprises, working with the motto of three R’s, i.e., Reduce, Reuse, and Recycle, are working towards developing zero waste packaging methods and techniques, thereby contributing significantly towards the growth of the market.
However, the concern for high implementation costs, owing to frequent fluctuations in the prices of raw-materials, and increased production costs, are expected to operate as key restraints to the growth of the zero waste packaging market during the forecast period.
This report also provides the existing competitive scenario of some of the key players of the zero waste packaging market, which includes company profiling of Loop Industries Inc. (NASDAQ: LOOP), PulpWorks, Inc., Lifepack, Avani Eco., Loliware, Aarohana Ecosocial Development and Package Free. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the zero waste packaging market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.