SAN FRANCISCO, Dec. 20, 2022 /PRNewswire/ — The global zero waste packaging market size is expected to reach USD 502.6 billion by 2030, expanding at a CAGR of 9.6% from 2023 to 2030, according to a new report by Grand View Research, Inc. The increasing awareness about sustainable packaging products across industries, developing infrastructure for waste management, and sensible disposal practices across developed and some developing countries are driving the market.
Key Industry Insights & Findings from the report:
- The paper and cardboard material segment held a dominant revenue share of over 75.0% in 2022. The developed infrastructure for closing the loop of old corrugated containers (OCC) in the manufacturing industry, where it has the highest recycling rate of around 90% across the globe, is supporting the segment growth.
- The reusable/recyclable packaging type segment accounted for the largest revenue share of over 95.0% in 2022 and is projected to maintain its dominating position throughout the forecast period. The reusable and recyclable packaging products are usually manufactured from paper and paperboard, glass, and metal.
- The edible packaging type segment is expected to expand at the highest CAGR of 18.9% over the forecast period owing to its sustainability and eco-friendliness. Increasing awareness about this newly developed packaging solution across developing economies is further driving the market.
- Based on the distribution channel, the offline segment accounted for the maximum revenue share of over 50.0% in 2022 and is projected to maintain its dominance throughout the forecast period. The high penetration of the offline system in the end-use market is a major factor supporting its dominance in the global market.
- The e-commerce application segment is expected to expand at the highest CAGR of 10.3% in terms of revenue over the forecast period. The continuously expanding customer base for online purchasing, especially post the coronavirus pandemic, is supporting the growth of the segment.
- The Central and South America region is expected to expand at a CAGR of 9.8% in terms of revenue over the forecast period. The country is projected to exhibit growth on account of the increasing internet penetration and awareness about sustainable packaging solutions in major countries including Brazil and Argentina. The rising awareness about various types of environment-friendly packaging solutions offered by international organizations through the electronic medium is further supporting the demand for zero waste packaging.
Read 115 page market research report, “Zero Waste Packaging Market Size, Share & Trends Analysis Report By Material (Paper & Cardboard, Biopolymer), By Type, By Distribution Channel, By Application, By Region, And Segment Forecasts, 2023 – 2030”, published by Grand View Research.
Zero Waste Packaging Market Growth & Trends
The rising incidences of various types of pollution from packaging waste disposal are driving the demand for zero waste packaging. For instance, air pollution caused by hazardous and biodegradable waste causes diseases, especially in the nearby residing population. Soil pollution caused by littered plastic, glass, and metal particles, which take years to degrade into the soil, leads to soil erosion, thus negatively affecting crop yields and forest areas. Furthermore, disposed of plastic and industrial residues including chemicals are responsible for water pollution, thus driving the demand for zero waste packaging.
The aforementioned types of pollution degrade the environmental condition and cause critical situations for living organisms including marine life, ultimately resulting in a misbalance in weather conditions. This is hampering human lives and can create serious problems for living a normal life in the near future. Thus, the demand for alternative solutions for this increasing waste is anticipated to support the growth of zero waste packaging over the forecast period.
On the other hand, the high cost associated with newly developed products such as compostable packaging and edible packaging in certain cases is likely to restrict the growth to an extent. The volatility associated with raw material prices is another major factor limiting growth. However, the increasing number of people adopting sustainable lifestyles are making mindful choices for the same, which is projected to create potential opportunities over the forecast period.
Zero Waste Packaging Market Segmentation
Grand View Research has segmented the global zero waste packaging market on the basis of material, type, distribution channel, application, and region:
Zero Waste Packaging Market – Material Outlook (Revenue, USD Million, 2018 – 2030)
- Paper & Cardboard
Zero Waste Packaging Market – Type Outlook (Revenue, USD Million, 2018 – 2030)
- Reusable/Recyclable Packaging
- Compostable Packaging
- Edible Packaging
Zero Waste Packaging Market – Distribution Channel Outlook (Revenue, USD Million, 2018 – 2030)
Zero Waste Packaging Market – Application Outlook (Revenue, USD Million, 2018 – 2030)
- Food & Beverages
- Cosmetics & Personal Care
- Electrical & Electronics
Zero Waste Packaging Market – Regional Outlook (Revenue, USD Million, 2018 – 2030)
- North America
- Asia Pacific
- South Korea
- Central & South America
- Middle East & Africa
List of Key Players in the Zero Waste Packaging Market
- Ecovative LLC
- DS Smith plc
- Avani Eco
- Biome Bioplastics Limited
- Loliware Inc.
- Sulapac Oy
- World Centric
- Notpla Limited
- Hero Packaging
Check out more related studies published by Grand View Research:
- Bioplastic Packaging Market – The global bioplastic packaging market size is expected to reach USD 50.57 billion by 2030, according to a new report by Grand View Research, Inc., expanding at a CAGR of 16.9% from 2022 to 2030. The growth of the global plastics packaging industry is likely to be driven by the increasing consumption of plastics in packaging food, beverages, cosmetics, personal care, and consumer goods.
- Plastic Packaging Market – The global plastic packaging market size is expected to reach USD 492.3 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 4.2% from 2022 to 2030. The rapid growth of food and beverages, personal care, industrial, and pharmaceutical sectors, coupled with the rising penetration of organized and e-retail across the world, is expected to fuel growth in the market.
- Returnable Packaging Market – The global returnable packaging market size is expected to reach USD 173.0 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.9% from 2022 to 2030. Rapid industrialization, increasing trade activities, and rising demand for robust, long-term, and eco-friendly packaging for the transportation of finished and semi-finished goods in multiple end-use industries are expected to augment growth in the market.
Browse through Grand View Research’s Plastics, Polymers & Resins Industry Research Reports.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Corporate Sales Specialist, USA
Grand View Research, Inc.
Toll Free: 1-888-202-9519
Email: [email protected]
Grand View Compass | Astra ESG Solutions
Follow Us: LinkedIn | Twitter
SOURCE Grand View Research, Inc.