Zero-waste packaging refers to packaging materials and designs that aim to minimize or eliminate waste throughout the entire lifecycle of a product, from production to disposal. The goal of zero-waste packaging is to reduce environmental impact by promoting sustainable practices and resource conservation.
During the historical period spanning from 2018 to 2022, the Zero-waste Packaging Market exhibited remarkable growth, posting a Compound Annual Growth Rate (CAGR) of 5.8%. By the conclusion of 2022, the market had achieved a significant valuation of US$ 984.9 million.
Projections for 2023 indicate that the market is poised to expand even further, with an anticipated value of US$ 1,071.6 million. This forthcoming growth is expected to be particularly exceptional, as the market is forecasted to maintain an impressive CAGR of 8.8% from 2023 to 2033. As a result, the market’s value is predicted to scale new heights by 2033, ultimately reaching a substantial figure of US$ 2,490.6 million.
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Key Companies Profiled
- Tetra Pak
- World Centric
- Loop Industries Inc.
- PulpWorks Inc.
- TIPA Corp
- Avani Eco
- Bizongo
- Hero Packaging
- Ecovative LLC
- Amatech Inc.
- Berry Global Group
- UFP Technologies Inc.
- Amcor Plc.
- DS Smith Plc.
Recent Developments
In February 2023, GreenPack Solutions embarked on a strategic initiative to integrate ReNu, a biodegradable film technology developed by EarthEco, into its packaging solutions for fresh and chilled food products. This collaboration is poised to revolutionize GreenPack’s offerings by introducing eco-friendly alternatives to traditional plastic packaging. By leveraging ReNu’s compostable properties, GreenPack aims to deliver sustainable packaging solutions that align with the company’s commitment to reducing environmental impact and promoting circular economy principles.
In September 2022, EcoTech Innovations announced a groundbreaking partnership with RecycleNow, a leading provider of recycling infrastructure and services. This collaboration represents a significant step forward in EcoTech’s mission to combat plastic pollution and promote waste reduction initiatives. By integrating RecycleNow’s advanced recycling technologies and expertise into its operations, EcoTech aims to develop innovative packaging solutions that prioritize recyclability, circularity, and environmental sustainability. Together, EcoTech and RecycleNow are poised to drive positive change in the packaging industry and pave the way for a more sustainable future.
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Market Trends
By incorporating reusable materials, companies stand to achieve substantial cost savings in terms of raw materials, energy consumption, and labor. Unlike single-use packaging, which is designed for a one-time use, reusable packaging offers increased durability and longevity, making it a more robust and enduring solution. This resilience enables the packaging to withstand multiple usage cycles, reducing the overall demand for new packaging materials.
The adoption of reusable packaging has emerged as a prominent trend in recent years, garnering significant attention from both consumers and manufacturers due to its potential to contribute to zero waste initiatives. Recognized for its cost-efficiency and environmental friendliness, reusable packaging presents an opportunity for companies to embrace sustainability by minimizing the production of single-use materials.
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Zero-waste Packaging Market Outlook by Category
By Product Type
- Reusable Packaging
- Compostable Packaging
- Edible Packaging
By Distribution Channel
- Online
- Offline
By End Use
- Food & Beverages
- Healthcare
- Cosmetics & Personal Care
- Electrical & Electronics
- Others (Automotive, Consumer Durable, etc.)
By Region
- North America
- Latin America
- Europe
- The Middle East and Africa (MEA)
- East Asia
- South Asia
- Oceania
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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