Global Zero Waste Packaging Market was valued US$ XX Bn in 2018 and is expected to reach US$ XX Bn by 2026, at a CAGR of XX% during the forecast period.
Market Definition:
Zero waste packaging refers to a system of packaging where all materials are utilized, reused, or recycled, hence there’s no waste product. Whereas any type of packaging is going to include some kind of waste component, there are advanced ways to make the process of packaging into a zero waste endeavor. These steps are taken to reduce the threats caused to human health or the environment because of the burning of conventional packaging materials.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Producers from around the globe are functioning to achieving zero waste, from creating packaging materials that help their purpose, also, to lead to zero waste. FMCG brands have tied up with enterprises that use zero waste packaging methods to deliver goods to the consumers through reduced packaging material and collect the available trash back for recycling and reuse. This process further helps the enterprises to generate revenue while contributing to the ecological concerns about waste management across the globe.
Drivers & Restraints:
The zero waste packaging market is expected to witness major growth as e-commerce, and food & beverage industry continues to demand advanced, robust, and reliable packaging solutions. The e-commerce industry is substituting conventional brick and mortar stores around the globe. Moreover, it is also driving food delivery, which is a new thriving consumer demand around the globe. Key pharmacies like Walgreens have declared ventures to order and provide delivery online in competition with Amazon. The growth of this industry will lead to major uptakes of electronics, clothes, and other new services as well. The increasing need to generate new packaging, and technologies like automation, 3D printing are expected to help the growth of the zero waste packaging market.
Also, most of the waste is hidden in landfill or dumped in the oceans which more disturbs aquatic life and create huge islands of trash. This has led to the development of stringent environmental policies, for example, the Singapore Packaging Agreement (SPA), regulated by the National Environment Agency (NEA), Government of Singapore to decrease packaging waste. All these factors are expected to help the growth of the zero waste packaging market in the future.
However, some of the main issues with zero waste packaging include labeling- recycling labels be inclined to confuse consumers, as they aren’t clear about which items are acceptable and which aren’t. With a zero waste model, it can be challenging to instruct the consumer on what to do with their packaging. And consumer behavior – if the process is too time-consuming or confusing, consumers may not comply with the instructions. They may not have time to drop their packaging off somewhere, or could simply forget. Ease of use for consumers is the main requirement for making zero waste packaging a reality.
Market Segmentation:
The zero waste packaging market can be segmented into material type, distribution channel, end-user industry, and region.
According to the end-user industry into food and beverages, healthcare, personal care, industrial and others. The food and beverage segment is expected to have the largest market share on account of rising demand for consumables, thanks to several advertising packaging concepts to attract consumers is estimated to fuel the growth of this segment.
Region-wise, the zero waste packaging market is expected to register the largest market share in the North America region. The increasing demand for viable solutions, biologically progressive initiatives in states like Maine banning plastics is estimated to drive the major growth for the zero waste packaging market. Moreover, the region is also observing the major adoption of technologies like 3D printing is also expected to lower costs and improve quality for producers in the long run. Furthermore, the zero waste packaging market is also expected to register significant growth in the Asia Pacific. Because of the growing demand for consumer products like soft drinks, and textiles, and manufacturing establishments in the region are expected to drive the growth for the zero waste packaging market.
Recent Development:
The biggest brand in the world is stepping up to the plate to accept zero waste packaging solutions. Such as newly Coca Cola broadcast that its World without Waste Initiative to complete 100% recycled packaging using 50% recycled materials. It also plans to collect & recycle one bottle or can for every item sold. Correspondingly, Unilever also declared a conclusion to decrease reliance on Virgin plastics by 50%. It made way for processing and collecting plastic packaging in new ways possible.
The Ocean Cleanup, an organization has started an enormous drive to collect massive plastic found in the ocean worldwide. This is done using a device to detect and collect plastic which has reached over 2,000 feet in length. In its first trials, the device has exceeded expectations globally and is in line with several other initiatives. These contain creating packaging materials from plant-based materials.
The objective of the report is to present a comprehensive analysis of the Global Zero Waste Packaging Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by Region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by Region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Zero Waste Packaging Market dynamics, structure by analyzing the market segments and project the Global Zero Waste Packaging Market size. Clear representation of competitive analysis of key players by Type, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Zero Waste Packaging Market make the report investor’s guide.
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Scope of the Global Zero Waste Packaging Market
Global Zero Waste Packaging Market, By Material Type
• Re-Usable Goods
• Compostable Goods
• Edible Goods
Global Zero Waste Packaging Market, By Distribution Channel
• Offline Store
• Online Store
Global Zero Waste Packaging Market, By End-user Industry
• Food and Beverage
• Healthcare
• Personal Care
• Industrial
• Others
Global Zero Waste Packaging Market, By Region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
Key players operating in Global Zero Waste Packaging Market
• Loop Industries Inc.
• PulpWorks, Inc.
• Lifepack
• Avani Eco.
• Loliware
• Aarohana Ecosocial Development
• Package Free
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