Recyclable packaging materials market: Key market research findings
- Europe dominates the market geographically
- Goods industry accounts for a majority of the market’s revenue
- Key vendors – Amcor, Graham, International Paper, Mondi, and Tetra Laval
Technavio’s market research analysts predict the global market for recyclable packaging materials to grow at a CAGR of more than 7% between 2016 and 2020. Standardized industry norms is a key factor responsible for the growth of this market across the globe. Furthermore, legislation implemented by the ISO standardizes reusing, recycling, energy recycling, chemical recovery, and organic recovery activities. During 2015, the global recyclable packaging materials market was dominated by Europe with a market share of more than 34%. The increased demand for recycled packaging and recycled plastic products will contribute to the growth of the market in this region during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the recycled packaging materials segment based on the end-user.
“The emergence of bio-degradable plastics is expected to revolutionize the market in the coming years. Bio-degradable plastics are easily decomposed by microorganisms and reduce the toxic effect they have on the environment compared with conventional plastics. They are not fully made from renewable materials but petrochemicals with biodegradable additives. Vendors in the market are likely to adopt biodegradable plastics as a substitute to avoid hefty penalties as environment compliance regulations are becoming more stringent worldwide,” says Sharan Raj, Lead Analyst, Transportation & Logistics, Technavio Research.
In 2015, the food industry accounted for more than 52% of the overall market share to become the key revenue generating end-user vertical in the market. Most vendors in the food packaging market use eco-friendly materials to package food products, which includes recyclable materials. The rising demand for dairy foods is one of the major factors driving the growth of the market. Furthermore, changes in demographics such as an increase in single-person household and an increase in old consumers are triggering an upsurge in the demand convenience food and packaged food products.
The key vendors in the market comprise of Amcor, Graham, International Paper, Mondi, and Tetra Laval. The market is characterized by intense vendor competition, evolving industry standards, and business models. The major international market vendors have tremendous financial resources, technical staff, R&D facilities, and manufacturing and marketing capabilities. However, these companies also have to compete against smaller research companies and generic drug manufacturers to sustain their market position.
A more detailed analysis is available in the Technavio report, Global Recyclable Packaging Materials Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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