Zero Waste Packaging Market to be Dominated by E-Commerce Sector through 2028
Growing demand from E-Commerce sector is expected
to drive the Global Zero Waste Packaging market in the forecast period,
2024-2028
According to TechSci Research report, “Zero Waste Packaging
Market - Global Industry Size, Share, Trends, Opportunity, and Forecast,
2018-2028,” the Global
Zero Waste Packaging market is anticipated to upsurge at an impressive rate in
the forecast period, 2024-2028. A significant factor
fueling the growth of the Global Zero Waste Packaging Market is the ease of shopping at home and various coupons
and offers provided by e-shopping platforms to their customers. In addition, easy
access and affordability of cell phones and internet connectivity mainly in
developing countries further fuel the growth of Global Zero Waste
Packaging market.
For instance, ESSENTRA’s Rippatape Halo paper-based tear tape is targeted at the eCommerce market and
aims to
help packaging manufacturers and brand owners to meet their consumers'
environmental and product experience expectations.
Furthermore, the market is being further
stimulated by growing demand from the healthcare, food & beverage sectors.
However, fluctuation in raw
material costs can slow down market growth. Also, high expense for research
& development can further slowdown the market growth.
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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. Paper
& Cardboard is expected to hold the largest market share in the forecast
period, 2024-2028. This is due to established infrastructure for the recycling
of cardboard packaging for more use in the packaging industry for different
products.
Based on type, the market is
categorized into reusable/recyclable, edible, and compostable. Compostable segment is expected to hold
the largest market share in the forecast period, 2024-2028. This is due to increasing
penetration of inhouse compostable bins, which easily convert biodegradable
waste into nutrient-rich soil in a specific period.
Based on distribution
channel, the market is segmented into offline and online. Online segment is expected to hold the
largest market share in the forecast period, 2024-2028. This is due to increasing
penetration of online sales in the global market.
Based
on application, the market is fragmented into food & beverages, healthcare, e-commerce, and others. Food & Beverages segment is
expected to hold the largest market share in the forecast period, 2024-2028. This
is due to increasing demand for convenience food with safety and sustainability.
Major companies operating
in the Global Zero Waste Packaging Market are:
- 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.
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“Europe region is expected to grow at the highest rate during the forecast
period due to increasing awareness of environmental preservation and
appropriate responses to the deteriorating state of the environment. Additionally,
action taken by government authorities regarding the ban onsingle use packaging
material is expected to create lucrative opportunities for the market growth.
Furthermore, in Asia Pacific, the existence of several small and medium-sized
businesses engaged in the production of cardboard and paper packaging and the
recycling of used packaging materials creates huge prospects for market growth
during the forecast period,” said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based global management consulting firm.
“Zero
Waste Packaging Market - Global Industry Size, Share, Trends, Opportunity, and
Forecast, 2018-2028 - Segmented By Material (Biopolymer, Paper & Cardboard,
Glass, Others), By Type (Reusable/Recyclable, Edible, Compostable), By
Distribution Channel (Offline, Online), By Application (Food & Beverages,
Healthcare, E-commerce, Others), By Region, and Competition,”
has evaluated the future growth potential of Global Zero Waste Packaging Market
and provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision-makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in the Global Zero Waste Packaging Market.”
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