Recyclable Packaging Global Market Report 2024

Recyclable packaging is employed to enclose or safeguard products during distribution, storage, sale, and use, utilizing materials that can be recycled, such as glass, metal, card, paper, corrugated cardboard, and others. These packaging solutions play a significant role in reducing carbon footprint and offer multiple advantages, including the conservation of raw resources, decreased production energy requirements, and lower greenhouse gas emissions. Recyclable packaging is designed to be reused, recycled, or is biodegradable, facilitating more straightforward waste management.

The primary types of recyclable packaging encompass paper and cardboard, bubble wrap, void-fill packing, as well as pouches and envelopes. Cardboard, defined as heavy-duty thick sheets of paper, is commonly used in the manufacturing of boxes and signs. Various materials utilized in recyclable packaging include glass, paper, plastic, tinplate, wood, aluminum, biodegradable plastics, and recycled papers. Industries benefiting from recyclable packaging solutions include healthcare, the food and beverage industry, and the personal care sector.

The recyclable packaging market research report is one of a series of new reports that provides recyclable packaging market statistics, including recyclable packaging industry global market size, regional shares, competitors with a recyclable packaging market share, detailed recyclable packaging market segments, market trends and opportunities, and any further data you may need to thrive in the recyclable packaging industry. This recyclable packaging market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The recyclable packaging market size has grown strongly in recent years. It will grow from $30.05 billion in 2023 to $31.81 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth observed in the historical period can be attributed to increasing environmental awareness and a focus on sustainability, a rise in consumer demand for eco-friendly products, the expansion of circular economy principles and recycling infrastructure, the development of eco-conscious packaging materials, and the implementation of regulatory standards promoting recycling and waste reduction.

The recyclable packaging market size is expected to see strong growth in the next few years. It will grow to $40.32 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The anticipated growth in the forecast period can be attributed to the development of customized recyclable packaging solutions tailored for specific products, the integration of smart packaging and traceability features, the utilization of sustainable and biodegradable packaging materials, an expansion in zero-waste and closed-loop packaging approaches, and the increasing adoption of reusable and refillable packaging concepts. Key trends expected in the forecast period encompass a focus on regulatory compliance in recyclable packaging standards, the emergence of smart and interactive recyclable packaging solutions, the provision of personalized packaging options to meet individual consumer preferences, an emphasis on transparency in packaging material sourcing and disposal, and the integration of artificial intelligence in sustainable packaging design.

The anticipated growth of the recyclable packaging market is driven by the increasingly stringent regulations governing the adoption of recycling packaging materials. Governments worldwide are implementing strict regulations to promote the use of recyclable packaging materials, aiming to curb plastic landfill, enhance waste management, and foster sustainable business practices. For example, in January 2022, the Food Safety and Standards Authority of India (FSSAI) proposed the incorporation of recycled plastic under Section 16 (5) of the Food Safety and Standards Act, 2006. This regulatory push is expected to significantly increase the demand for recyclable packaging in the foreseeable future.

The recyclable packaging market is poised for growth due to the surging popularity of the e-commerce industry. The e-commerce sector, involving the online buying and selling of goods and services, is witnessing a notable rise in consumer awareness regarding environmental concerns. Both e-commerce companies and consumers are increasingly prioritizing sustainable packaging solutions to address these concerns. Notably, in 2022, 65% of consumers expected to use online purchasing platforms more frequently, with projected e-commerce revenues reaching $6.3 trillion by 2024. The rising prominence of the e-commerce industry is a key driver behind the growth of the recyclable packaging market.

A significant trend in the recyclable packaging market is the emergence of eco-friendly packaging. Eco-friendly packaging is characterized by its biodegradability, recyclability, reusability, non-toxicity, and use of recycled materials. This type of packaging is designed to reduce carbon footprint, promote green living, and contribute to energy conservation while preventing air, water, and noise pollution. For instance, in April 2020, Procter & Gamble (P&G) introduced new eco-friendly packaging for brands such as Old Spice and Secret, aligning with the growing demand for environmentally conscious packaging solutions.

Strategic partnerships are playing a crucial role in the development of sustainable and recyclable packaging solutions in the recyclable packaging market. These partnerships involve companies leveraging each other's strengths and resources for mutual benefits and success. In June 2023, Pact Group, an Australian plastic recycler and sustainable packaging manufacturer, entered into a strategic partnership with ALDI Australia, a leading Australian grocery retailer. Pact Group will provide ALDI’s supply partners with access to more sustainable packaging options for the retailer’s exclusive brand products, covering items like milk bottles, meat trays, fruit and vegetable punnets, beverage bottles, and shampoo bottles.

In May 2022, Smurfit Kappa, a UK-based corrugated packaging manufacturing company, acquired Atlas Packaging, a sustainable corrugated packaging manufacturer in the UK. This acquisition enhances Smurfit Kappa’s ability to deliver innovative and sustainable packaging solutions to the UK market and its customers.

Major companies operating in the recyclable packaging market include Amcor PLC, Tetra Laval International SA, Ardagh Group SA, Ball Corporation, Elopak AS, DuPont de Nemours Inc., Mondi PLC, Sealed Air Corp, Plastipak Holdings Inc., Uflex Ltd., David S. Smith PLC, Smurfit Kappa Group PLC, WestRock Co., Huhtamaki Group, Berry Global Group Inc., Gerresheimer Group AG, Sonoco Products Company, Crown Cork & Seal Company Inc., International Paper and Power Corp, Stora Enso Oyj, Graphic Packaging Holding Company, Reynolds Group Holdings Ltd., National Amalgamated Packaging Ltd., BWAY Corporation, Silgan Holdings Inc., AptarGroup Inc., Owens-Illinois Inc., Greif Inc., Pratt Holdings Proprietary Ltd., Evergreen Packaging LLC

Western Europe was the largest region in the recyclable packaging market in 2023. Asia-Pacific is expected to be the fastest-growing region in the recyclable packaging market share during the forecast period. The regions covered in the recyclable packaging market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the recyclable packaging market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.

The recyclable packaging market consists of sales of biodegradable packaging, corrugated bubble wrap and cornstarch packaging. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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