Global Packaging Waste Recycling Market: Overview
To do away with packaging waste is the vital concern in today’s world. Both developing and developed countries are relentlessly implementing various rules and regulations to recycle and minimize huge waste that is generated from glass, metal, plastic and paper packaging products.
Increasing concern towards plastic waste is likely result in ban on plastic packaging products in many parts of the world. There has been an exponential rise in plastic waste in the last decade owing to increased need for consumer goods and packaged food across the globe. It is forecasted that even less than 40% of the total plastic waste is recycled globally. Either large parts of such plastic waste are thrown into the ocean or it ends up in landfill.
Polypropylene, Polyethylene, PVC are non-biodegradable plastics and these plastics take more than 400 years to break down. Non-recyclable packaging waste pollutes the environment resulting in health hazards. Household wastes contribute to more than 50% of the total collected plastic waste worldwide. Buckets, bottles, equipment, jars etc. comprise household waste. Many packaging companies are focusing on the reduction of packaging products’ weight so as to further lessen the consumption of packaging material thereby leading to generation of less plastic waste.
Transparency Market Research has produced a new report on global packaging waste recycling market. In the report, every facet of global packaging waste recycling has been elucidated so that enough information could be provided for the businesses pertaining to the market to flourish in the forthcoming years.
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Global Packaging Waste Recycling Market: Notable Developments
Industry players of the global packaging waste recycling market are relentlessly opting for mergers and acquisitions to expand their product portfolio. Many new innovative ideas are coming up to keep the businesses floating in the coming years and gain upper hand in the competition.
- Bombay Municipal Corporation has asked plastic bottle manufacturers selling beverages to set up six mechanized facilities in Mumbai, India. These facilities would segregate various types of dry garbage. The plant will separate dry waste components and prepare material, which is recyclable such as plastic.
- American multinational beverage, snack and food multinational PepsiCo, Inc. announced its plans to lessen plastic waste. The company said that they would sell Aquafina-brand water in aluminum cans thereby ditching plastic bottles as early as next year.
Some of the major players in the global packaging waste recycling industry analyzed in this report are Green Line Polymers, Inc., CarbonLite Industries LLC, Pioneer Industries International Inc., Clean Tech Incorporated, B. Schoenberg & Co. Inc., and National Fiber Supply LLC.
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Global Packaging Waste Recycling Market: Key Trends
The market trends and opportunities of the global packaging waste recycling market are as mentioned below:
Widespread Media Coverage Leads to Increased Awareness
Environmental lobby groups are pressurizing on various industries for decades. In the recent years, issues such as perceived over-packaging received wide coverage by media houses. The latest issue that has been receiving wide coverage and gaining traction amongst the campaigners is ocean plastic. Making repetitive use of worrying imagery in media coverage has made marine pollution a burning issue.
Along with this is movement by common people trying to live plastic-free life and many aspiring for a zero-waste lifestyle that does not necessarily stress on just one substance. Although such people are relatively low in number as compared to the total global population, nevertheless their influence is widespread owing to the usage of social media platforms. Social media has an important role to play in the success of numerous online petitions through various online communities such as Changemakers.
Global Packaging Waste Recycling Market: Geographical Analysis
Based on geography, the global packaging waste recycling market is divided into seven geographies, namely North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific, Middle East & Africa, and Japan. North America and Europe are leading the global packaging waste recycling market with the maximum number of waste recycling companies. Though Asia-Pacific produce most of the packaging waste across the globe, there isn’t enough penetration of recycling companies in the region. Furthermore, owing to absence of segregation systems and proper collection, the recycling process becomes costly and inefficient.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.