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Reports
The global recycled paper packaging market is expected to witness strong growth during the forecast period between 2021 and 2031.
Recycled paper packaging refers to a packaging method that deploys waste paper as the basic raw material, which is obtained as a residue after the production process of various products.
A key benefit of deploying waste paper is it helps decrease the expenditure incurred on paper packaging materials by up to 40%.
Recycled paper packaging has been deployed in numerous end-use industries such as healthcare, food and beverages, construction, electronics, and sports.
Rising demand from food and beverages industry had emerged as key growth driver in global recycled paper packaging market.
Surge in demand for eco-friendly products in leading economies globally is expected to augment the growth in recycled paper packaging market, in the years ahead.
Also, growing customer awareness concerning the use of recycled products is expected to help create revenue-generating opportunities for prominent players in overall recycled paper packaging market, in the coming years.
In addition to this, rising need to reduce the cost of packaging material is anticipated to fuel the demand for recycled paper for packaging and stimulate the growth in recycled paper packaging market, in future.
Government initiatives and measures, spreading awareness about the benefits of recycled products is projected to augment the growth in recycled paper packaging market in years to come.
The global recycled paper packaging market is highly competitive, with the presence of several leading players. Many of these players have become successful owing to years of delivering consistent results and are expected to account for a large share in overall market, in future.
Growth strategies such as launch of novel packaging methods could help create revenue-generating opportunities for leading players and help gain a competitive edge over other players.
Research and development activities could be key, revenue-generating growth strategy for prominent players in global recycled paper packaging market, in the coming years.
Establishment of research and development centers in economies offering key resources such as land and labor at reduced costs could help market growth in that region.
Collaboration with smaller players could assist leading recycled paper packaging market players expand their market presence and increase their revenue shares.
Some of the leading players in global market include DS Smith, Pratt Industries, Tetra Pak, Sealed Air, and Ecocern.
The global recycled paper packaging market is classified into five regions, namely, North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
Asia Pacific is expected to emerge as maximum revenue-generating region in global recycled paper packaging market in future because of increased consumer awareness about deployment of recycled products in countries such as India and China, contributing significantly to market growth in the region.
North America is anticipated to witness substantial growth in global market in future because of increased government initiatives and measures, concerning the deployment of sustainable practices in countries such as the U.S. and Canada.
Also, presence of well-established players in countries such as the U.S. and Canada is expected to help market growth in North America, in future.
Europe is projected to witness strong growth in recycled paper packaging market because of growing awareness about harmful effects of plastic accumulation in countries such as UK and Germany.
Other regions of the world such as Middle East and Africa and Latin America are expected to witness moderate growth in overall recycled paper packaging market, in years to come, owing to reduced presence of market players in countries belonging to both the regions.
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Recycled Paper Packaging Market
