Global Plastic-Free Packs Market: Brief Account
The global plastic-free packs market receives its push or motivation from regulations such as ban on plastic bags and plastic products, which has been implemented in various nations worldwide. Cosmetic products manufacturers are investing strategically on sustainable developments both for mass and premium segments. This is boosting the growth of the global plastic-free pack market. In addition to this, there exists several stringent government regulations for the use of plastic or recycled plastics for food and beverages packaging, thus contributing to the growth of the plastic-free packs market. A surge in the sales of luxury items such as alcohol and perfumes is also leading the market towards growth as glass packaging is used. Moreover, the expansion of online retail has fueled the adoption of paper and paperboard packaging, furthering the plastic-free packs market.
The report is an overview of the global plastic-free packs market, including growth drivers, growth inhibitors, trends, and opportunities in the industry. It segments the market on the basis of material, packaging type, end-use, and geography. Key players are profiled in the report and their business strategy has also been included. The past and current market size is used for the determination of the market size for the coming years. The report thus has in store, a wealth of useful information about the global plastic-free packs market and is a must-have for every new entrant wishing to invest in this market as well as those established, so as to make profitable business moves.
Global Plastic-Free Packs Market: Trends and Opportunities
Countries across the world have realized the environmental threat caused by plastic waste. Players in the packaging industry are thus compelled to think beyond plastic and opt for alternatives such as paper, glass, and metal. It has also been found that plastic in food packaging causes harm to human metabolism and this is another factor deterring companies from using plastics, thus driving the global plastic-free packs market. The beauty and cosmetic products industries are also opting for glass, metal, and paper packaging, as these materials are bio-degradable and can also be recycled.
In the U.S., researchers have come up with an innovative form of packaging for food and beverages. Milk protein has been used to develop an edible film, which is similar to plastic wrap, and helps in the prevention of food spoilage. Innovations such as these are likely to boost the growth of the plastic-free packs market. Another trend in the packaging market is the use of recycled paper. Companies such as Shredhouse in the U.K. have launched shredded paper from single used coffee cups.
Global Plastic-Free Packs Market: Geographical Analysis
On the basis of geography, the global plastic-free packs market can be segmented into North America, Europe, Latin America, Asia Pacific and the Middle East & Africa. Of these, Asia Pacific holds key shares in the market, led by China, South Korea, and India. These countries hold considerable shares in glass and paper packaging market. Growth in the consumption of canned foods is another factor boosting the growth of this market. North America and Europe are also likely to hold significant shares in the market. In addition to this, the Middle East and Africa is estimated to expand at a moderate CAGR in the coming years.
Global Plastic-Free Packs Market: Companies Mentioned
Some of the key operators of this market include: Rawlings & Son (Bristol) Ltd, WestRock Company, Multiscience GmbH, Orora Packaging Australia Pty Ltd Beatson Clark, ALL PACKAGING COMPANY, Abox, Zumbiel Packaging, Ardagh Group S.A., and HUBER Packaging
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.