(MENAFN- America News Hour) Zero Waste Packaging Market
–which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter's five force model.
According to the statistics provided by the World Bank, globally 3.40 billion tons of waste is expected to be generated annually by 2050 from that of 2.01 billion tons in 2018
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The statistics form an alarming need to control waste generation. The majority of the waste is dumped into the oceans or landfill, which is adversely affecting the environment is driving many environmental activists to promote eco-friendly packaging solutions across the globe.
The term“zero waste” packaging is the idea of conservation of resources by using responsible production methods with proper recycling and recovery or utilization of these products, in order to eliminate the harmful effects caused to human health or the environment after burning conventional packaging materials. Additionally, the significant factors such as improvisation in production processes, packaging techniques leading to reduction in size and thickness of physical packaging along with elimination of unnecessary packaging are anticipated to support the growth of the zero waste packaging market.
The zero waste packaging market is anticipated to record robust CAGR over the forecast period, i.e. 2019-2027. The market is segmented by end-use industry into food and beverage, healthcare, personal care, industrial and others. Among these segments, the food and beverage segment is anticipated to hold largest market share, owing to growing demand for consumables driven by growing rate of population along with rising disposable income of consumers across the world. Moreover, the introduction of zero waste stores which encourages customers to bring their own packaging material to carry their goods from the shops is significantly supporting the growth of the market.
Geographically, the zero waste packaging market is segmented by five major regions into North America, Europe, Asia-Pacific, Latin America and Middle East & Africa region, out of which, North America is expected to have largest market share on the back of rising disposable income and growing demand for consumables combined with rising awareness pertaining to zero waste packaging among consumers in the region.
Major players include in the global Keyword market:
Loop Industries Inc. (NASDAQ: LOOP), PulpWorks, Inc., Lifepack, Avani Eco., Loliware, Aarohana Ecosocial Development and Package Free.
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However, fluctuation in the prices of raw materials raising the overall production cost is estimated to act as a barrier to the growth of the market during the forecast period.
The detailed segments and sub-segment of the market are explained below:
By Material Type
On the basis of material type, the global zero waste packaging market is segmented into re-usable goods, compostable goods and edible goods.
By End-Use Industry
The market is segmented on the basis of end-use industry into food and beverages, healthcare, personal care and others.
By Distribution Channel
On the basis of distribution channel, the market is further segmented into offline and online.
The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled
“Zero Waste Packaging Market – Global Demand Analysis & Opportunity Outlook 2027” , analyses the overall zero waste packaging industry to help new entrants to understand the
details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the zero waste packaging market in the near future.
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