Jul 27, 2023

Trends, Opportunity, and Forecast, 2018-2028" - https://www.reportlinker.com/p06480226/?utm_source=GNW Global Zero Waste Packaging market is anticipated to grow significantly through 2028 due to increasing demand for recyclable/reusable packaging. In 2020, the recycling rate of plastic packaging waste in Japan was around 86%. Packaging that produces zero waste is touted as a new economic revolution.It ensures that products will be packed in a waste-free manner. The utilization, recycling, and reuse of trash is the main method used to achieve this.Waste produced by packing supplies is a problem all around the world. A sizeable portion of the junk also harms aquatic life and creates enormous islands of trash in the ocean or when it is buried in landfills. As a result, stringent environmental regulations were developed by government agencies to reduce packaging waste and help expand the global zero-waste packaging market in the forecast period. Rising Demand for Recyclable/Reusable Packaging Reusable packaging is eco-friendly & cost-effective.Many manufacturers save their money on the cost of feedstock, staff, and energy by reducing the demand for manufacturing single-use packaging material by replacing it with reusable material. Reusable packaging is durable and stronger as compared to single-use packaging as it is made for repeated usage. For instance, in 2021, the UK government announced plans to outlaw single-use plastic plates, cups, and silverware in England to combat plastic pollution. High durability, wide utilization in food and non-food applications, and reuse by different industries are likely to contribute to the high growth of Global Zero Waste Packaging market in the projected years. Growing Consumer Awareness Regarding Risks Associated with Plastic Material The environment suffers from the extensive usage of single-use, non-biodegradable plastic packaging materials.In a landfill, plastic takes hundreds of years to decompose. It will continue to degrade the ecosystem throughout the course of that period, eventually putting the lives of humans, animals, and plants in danger. For instance, according to the European Environment Agency, the recycling rates are highest in Austria at 63%, followed by Germany at 62%, Belgium at 58%, Netherlands and Switzerland at 51%, respectively. In addition, according to MDPI, in 2022, Wales is one of the world leaders in household waste recycling with a steady recent recycling rate of 65%. Therefore, growing consumer awareness of the consequences of using single-use and non-biodegradable plastic products for various packaging applications leads to the growth of Global Zero Waste Packaging Market during the forecast years. Increasing Demand from Food & Beverage Sector Because of their portability, long shelf life, and straightforward manufacturing, convenience foods are primarily responsible for the need for food and beverage packaging.Due to customers’ busy schedules and the aging population, convenience food is becoming more and more popular. The variety of readily available food substitutes has expanded because of innovative packaging and cutting-edge technologies, including packed, frozen, chilled, etc.Most makers of packaging are concerned with product safety and sustainability. Consumer goods companies are packaging food more frequently, which has changed consumers’ preferences for fast meals. Many chemical suppliers are also making the switch to greener practices by using less plastic for packaging. For instance, in July 2022, Fiorini International, together with Mondi, developed a cutting-edge paper packaging option for the Italian luxury pasta product manufacturer Antico Pastificio Umbro. Thus, increasing demand for sustainable and safe packaging from the food & beverage sector is anticipated to boost the growth of Global Zero Waste Packaging Market in the upcoming years. Recent Developments • In August 2022, TIPA collaborated with Aquapak to meet industry demand for New Innovative Circular Packaging Solutions. • An investment of USD 70 million was made in the Israeli business TIPA Corp. for the creation of biodegradable packaging options in January 2022. • To enhance the collection of discarded carton containers in Udaipur, Rajasthan, India, Tetra Pak partnered with the FINISH Society, a well-known NGO for solid waste management, in June 2021. • In August 2020, Sonoco purchased Can Packaging, a producer of a cardboard packaging company, to increase the sustainable packaging options. Market Segmentation Global Zero Waste Packaging Market is segmented based on material, type, distribution channel, application, and region.Based on material, the market is split into biopolymer, paper & cardboard, glass, and others. Based on type, the market is categorized into reusable/recyclable, edible, and compostable.Based on the distribution channel, the market is segmented into offline and online. Based on application, the market is fragmented into food & beverages, healthcare, e-commerce, and others. Based on region, the market is divided into North America, Europe, Asia Pacific, South America, Middle East & Africa. Company Profiles Loop Industries, Inc., PulpWorks LLC, Ecovative LLC., DS Smith Plc, Avani Eco., Biome Bioplastics Limited, BIOPLA, Hero Packaging Pty Ltd, TIPA Ltd, Tetra Pak International S.A. are some of the key players of Global Zero Waste Packaging Market. Report Scope: In this report, Global Zero Waste Packaging Market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below: • Zero Waste Packaging Market, By Material: o Biopolymer