Asia Pacific Recyclable Packaging Market Size to Grow at Steady CAGR of 7.6% During 2023–2029

Published | 01 January 2023

Asia-Pacific recyclable packaging market is gaining traction because of the rising packaging demand in a variety of industries, including manufacturing, e-commerce, and retail, as well as rising environmental concerns among consumers.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, Asia-Pacific recyclable packaging market size is projected to grow at a CAGR of 7.6% during the forecast period between 2023 and 2029. The Asia-Pacific recyclable packaging market is expanding quickly because of rising packaging demand in a variety of industries, including manufacturing, e-commerce, and retail, as well as rising environmental concern among consumers. A significant urban danger and pollutant is emerging packaging. As a result, there is a noticeable movement in the market toward recyclable and environmentally friendly packaging choices, which is predicted to fuel the market growth in the forecast period. however, lack of sufficient recycling facility in certain regions may acts as a huge restraining factor for the market growth.

Asia-Pacific recyclable Packaging Market – Overview

Any type of packaging that can be recycled and used again qualifies as recyclable packaging. Paper, metals, glass, and certain plastics are among the most used recyclable materials. Recyclable packaging offers various environmental benefits, which is why it is gaining huge popularity across industries. It decreases the overall usage of heavy energy resources, which results in a decrease in the number of greenhouse gasses discharged into the environment and a corresponding decrease in carbon footprint. As a result, corporations and consumers are prominently inclining toward recyclable packaging.

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Asia-Pacific recyclable Packaging Market – By End-Use Industry

Based on the end-user industry, Asia-Pacific recyclable Packaging market is segmented into food, beverages, pharmaceuticals, personal care, logistics, and others. The food and beverages segment accounts for the highest market share. The major food chains and food processing brands are increasingly switching to recyclable packaging for their products to attract environment–conscious customers. Nestle, for instance, recently announced a switch to recyclable packaging for its two very popular brands – Quality Street and KitKat. Several other food processing brands including The Coca–Cola Company, Unilever, and Mondelez, are also switching to recyclable packaging, driving the overall market growth.

Impact of COVID-19 on Asia-Pacific recyclable Packaging Market

The COVID–19 pandemic outbreak offered significant growth opportunities to the Asia-Pacific recyclable packaging market. The demand for the packaging spiked from certain industries including healthcare, food, and e–commerce. However, the recyclable packaging industry was halted as it is not part of the essential industry. This temporarily halted its market growth. But the discussion surrounding sustainability and environmental–consciousness among consumers, especially the younger demographic, increased, the Asia-Pacific recyclable packaging market registered substantial growth and is anticipated to flourish significantly in the post-pandemic period as well.

Competitive Landscape

Major players operating in the Asia-Pacific recyclable Packaging market include Amcor, Tetra Laval, Ball Corporation, Elopak AS, PlastiPak Holdings Inc., Sealed Air Corporation, Uflex Limited, WestRock Company, DS Smith, DuPont, Mondi, Bemis Company, and International Paper. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

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The in-depth analysis of the report provides information about growth potential, upcoming trends, and the Asia-Pacific Recyclable Packaging Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Asia-Pacific Recyclable Packaging Market and industry insights to help decisionmakers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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