Zero Waste Packaging Market 2020 Trends, Market Share, Industry Size, Opportunities, Analysis and Forecast by 2026
Category: #business  By Ashwin Naphade  Date: 2020-02-21
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Zero Waste Packaging Market 2020 Trends, Market Share, Industry Size, Opportunities, Analysis and Forecast by 2026

As per credible estimates, zero waste packaging market is expected to register substantial growth by the year 2026. Increasing awareness pertaining to environmental conservation and increasing volume of non-degradable waste such as plastic are major factors driving the zero waste packaging market growth. Zero waste packaging is a type of packaging solution that involves using materials which can be recycled and reused. Several public and private entities are primarily focusing on reducing waste which is propelling the adoption of zero waste packaging solutions. This factor along with growing inclination towards sustainable packaging solutions are favoring the market outlook.

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Rising concerns over adverse effects of plastic on environment as well as animals coupled with strict labelling regulations pertaining to product packaging are facilitating the business scenario. Various market majors are primarily focusing on R&D activities in order to develop innovative solutions such as reusable goods packaging, compostable packaging, and edible foods packaging. This factor along with strict federal reforms in order to achieve zero waste levels are stimulating the industry outlook. However, zero waste packaging materials are less durable as compared to polyethylene which may hinder the overall market growth in the approaching years.

As per product type, the zero-waste packaging market is classified into:

  • Reusable goods
  • Compostable goods
  • Edible goods

The reusable packaging market segment is expected to register substantial growth during the forecast period. Reusable packaging offers ease of repair, ease of cleaning, ease of use, and durability. This type of packaging is used across a plethora of industries such as textile, chemicals, aerospace, electronics, pharmaceutical, food & grocery, automotive, appliance, and general manufacturing. These factors in consort with rising concerns regarding presence of high quantities of solid waste along with surging need for hygienic and clean working environment are fueling the segmental growth.

Based on the application spectrum, the zero waste packaging market is bifurcated into:

  • Food & beverage
  • Healthcare
  • Personal care
  • Industrial and others

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The food & beverage application of zero waste packaging is presumed to expand significantly during the estimated timeframe. Factors such as increasing environmental concerns along with strict government regulations regarding the use of plastic packaging material are propelling segmental growth.

On the other hand, zero waste packaging market from healthcare application segment will also witness substantial growth. Although there are limitations associated with reusing plastic in healthcare industry due to potential risk of transfer of disease, key industry players are developing innovative packaging solutions to meet the growing need of reducing plastic waste from healthcare sector. Rising development of single use biodegradable packaging solutions for healthcare sector are thus aiding the market expansion from healthcare applications.

Regional analysis

The zero waste packaging market is divided into regions such as Europe, North America, Latin America, and Asia-Pacific. The North America zero waste packaging industry is poised to amass significant gains in the subsequent years. Factors such as rising environmental concerns, increasing efforts to conserve environment, strict government regulations, and rising adoption of zero packaging solutions are aiding the market growth.

Key Players in the market:

Loop Industries Inc., Lifepack, PulpWorks Inc., Avani Eco., Aarohana Ecosocial Development, Loliware, and Package Free are the prominent companies operating in the zero waste packaging market.

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Related Report:

Global Waste to Energy (WTE) (Waste-to-Energy) Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024

https://www.marketstudyreport.com/reports/global-waste-to-energy-wte-waste-to-energy-market-2019-by-manufacturers-regions-type-and-application-forecast-to-2024?utm_source=itresrch&utm_medium=TS

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About Author

Ashwin Naphade    

Ashwin Naphade

Ashwin is into digital marketing since the last 2 years and has worked on multiple projects across various industries. He likes posting information and knowledge on multiple topics with an objective to create online visibility as well as share his inputs. His interest...

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