The Global Zero Waste Packaging market is estimated to be valued at US$ 1431.93 million in 2021, according to the Zero Waste Packaging Market Report, by Type (Re-Usable Goods, Compostable Goods, and Edible Goods), by Distribution Channel (Supermarkets/Hypermarkets, Specialty Stores, Online Sales Channels, and Others), by End User (Food & Beverages, Healthcare, Personal care, and Others (Industrial, etc.)), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa), published by Coherent Market Insights.

The global zero waste packaging market is expected to surpass US$ 2415.90 million by 2028 and exhibit a CAGR of 9.4% during the forecast period (2021-2028). Zero-waste packaging is one of the frameworks of packaging in which possibly there is full usage of materials. Zero waste packaging materials are being subject to re-use and even recycling so there is non-appearance of any left-over products at the end of such process. Zero-waste packaging is largely done through utilizing, reusing, and recycling waste. A stringent regulatory environment coupled with the global environmental crisis is expected to boost the opportunities for zero waste packaging market players.

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/zero-waste-packaging-market-5018

Browse 50 market data tables* and 40 figures* on "Zero Waste Packaging Market” - Global Forecast to 2028.

Key Trends and Analysis of the Global Zero Waste Packaging Market:

The adoption of zero-waste packaging urges customers and manufacturers to move to sustainable living, leading to the re-utilization of packaging, which in turn is expected to boost the market growth during the forecast period. A significant increase has been seen in the utilization of FMCG (fast moving consumer goods) item. For instance, In 2019 Nestlé used 4.6 million tons of packaging materials The Company’s worldwide plastics and laminates use were 1.5 million tons in 2019 compared with 1.6 million tons in 2018. Nestlé figured out how to reduce it by approx. 10% in 2019, despite the fact that its business developed by 3.5%. In 2018, 66% of the total plastic utilized by the organization was reused or recyclable. This has driven the demand for sustainable packaging methods such as zero-waste packaging. According to figures related to plastic items generation released by the EPA (Environmental protection agency) in 2017, the generation of plastic items was 35.4 million tons in the U.S. From 2010 to 2017, the U.S. noticed a huge increment of around 4,000,000 tons of plastic items that have come from durable goods as well as the containers and packaging categories according to United States EPA. Moreover, many consumers from different regions of the world laying greater emphasis on buying items that are sustainable, safe, and environment-friendly.

Key Takeaways of the Global Zero Waste Packaging Market:

  • Based on end user the global zero waste packaging market is segmented into food and beverages, personal care, healthcare, and others. The food and beverages segment has the highest market share in the global zero waste packaging market. More manufacturers are trying to enhance their production of sustainable packaging products. Some organizations have also collaborated with companies such as Dabur India Ltd., which are engaged with the manufacturing of retail reusable packaging to reduce the usage of single-use plastic such as reusable cups, plates, and others.
  • The zero waste packaging market is expected to observe significant growth owing to the rapidly expanding online business during the forecast period. The development of packaging industry will prompt significant takes-up of electronics, clothes, and other services as well. The rising need to make zero waste packaging owing to growing food & beverages industry, personal care industry coupled with technological advancements such as automation and 3D printing are expected to aid in the zero waste packaging market growth due to its eco-friendly nature.
  • Major players operating in the global zero waste packaging market include Loop Industries Inc., PulpWorks Inc., Avani Eco, Loliware, Lifepack, Aarohana Ecosocial Development, Package Free, GO Box, World Centric, and Biome. These key players are adopting various organic and inorganic growth strategies such as expansion, collaboration, joint ventures, alliances, new product launches, etc. to increase their business operations and presence.

Global Zero Waste Packaging Market - Impact of Coronavirus (COVID-19) Pandemic

The personal care industry saw dramatic effects from the pandemic. With the outbreak of the COVID-19, the personal care industry has increased the usage of zero-waste packaging materials in personal care industries. For instance prior covid 19 in store shopping accounted 85% of of beauty product purchases “but unsurprisingly During the Pandemic online revenues for beauty-industry players have risen 20-30%. The pandemic has nudged the beauty purchasing habits online and therefore the role of packaging has evolved, there has been an increasing demand for which in turn boosted the demand for zero waste packaging in the personal care industry.

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