Research Nester released a report titled “Global Zero Waste Packaging Market: Global Demand Analysis & Opportunity Outlook 2027” which delivers detailed overview of the global zero waste packaging market in terms of market segmentation by material type, end-use industry, distribution channel and by region.
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.
Zero-waste packaging is one of the systems of packaging, in which the materials that are present are being used, re-used as well as recycled, so that there is no waste product that is left behind from such a process. Under normal circumstances, any type of packaging could cause any leavings to remain during the process of packaging. Through the adoption of sustainable packaging methods, the process of packaging is applied in such a way that the process would result in the arrival of a zero-waste product finally. The global zero-waste packaging market is predicted to attain a CAGR of 8.78% globally over the forecast period, i.e., 2018-2027.
The market is segmented by material type, end-use industry, distribution channel and by region. On the basis of material type, the market is segmented into re-usable goods, compostable goods and edible goods. Compostable goods occupied the leading market share in 2018, that had been driven by high levels of awareness and concerns from the population across various regions throughout the world about the importance of waste that is generated that is capable of affecting the environment adversely. On the other hand, food and beverages that posted the highest revenue among others in the year 2018 is anticipated to grow at a noteworthy rate over the next few years. Moreover, with various manufacturers and organizations coming together through various forms of collaborations that can help lower the usage of single-use plastic being reusable cups, plates and others, in addition to other steps being initiated to upgrade their sustainable packaging efforts further that also is expected to contain the provision for order, return, re-use and recycling. All these factors are anticipated to boost the growth of the market in the coming years.
The global zero-waste packaging market is segmented on the basis of region into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. The market in North America is estimated to hold the highest market share over the forecast period, which is basically on account of factors such as huge levels of awareness among the consumers in the region about the importance of conserving environment and preventing any form of environmental waste occurring as a result of continuing with the traditional system of packaging. On the other hand, the market in Asia Pacific region is anticipated to register the highest CAGR over the forecast period, which is primarily on account of rising number of government initiatives being started to support sustainable packaging in the region over the last decade.
Rising Concerns Among Individuals on Conventional Packaging and its Adverse Effects on Environment Across the Globe
The awareness among individuals around the world on the importance of phasing out conventional packaging methods such as plastic packaging that is expected to cause higher quantity of waste to remain in the environment, thereby leading to its damage has increased significantly over the past decade. This has led several individuals from various regions of the world to search for suitable alternatives that is capable of protecting the environment as well as offering convenience to the users. The US EPA had stated that about 42% of all the greenhouse gas emissions occur as a result of production and use of goods, including food products and packaging. The packaging waste are normally being dumped into the Oceans or they are found in landfills where they are finally discarded. Hence, governments of several nations in the region have been laying higher focus on policy framing and at the same time bringing strong rules and regulations to protect environment from any form of degradation which are all estimated to drive the market growth in the coming years. However, the rising costs associated with its implementation can affect companies economically, in addition to causing difficulties and unease at the time of implementation, which are all predicted to be major restraining factors that could adversely affect the market growth in the coming years.
This report also provides the existing competitive scenario of some of the key players of the global zero waste packaging market which includes company profiling of Go Box, World Centric, Biome, PulpWorks, Inc., Package Free, Lifepack, Avani Eco, Biogusto, Bizongo, Recup, Loop Industries, Inc. and Loliware. 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 global 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.