Global Zero Waste Packaging Market: Overview
Zero waste packaging is touted as a new revolution in industries. It promises to package products in such a way that it does not result in any waste. This is largely done through utilizing, reusing, and recycling waste. The zero waste packaging market is likely to witness major growth as stringent regulatory environment, and global environmental crisis are expected to make way for myriad of opportunities. Currently, plastic generates over 200 million tonnes of plastic in landfills. Additionally, only a few ways of recycling ways promise a completely clean-riddance as during its industrial burning, it also creates a ton of toxic gas waste.
Moreover, many countries around the world have banned single-use plastics. This is a major concern for industries in the food and beverage sector. According to major players in the beverage business, the alternatives to single-use plastics are not yet viable or commercially feasible. The essential demand, and need to find new solutions to age-old crisis are expected to result in major innovation opportunities for players in the zero waste packaging market.
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Zero Waste Packaging Market: Notable Developments
As pressure rises, biggest brand in the world are stepping up to the plate to adopt zero waste packaging solutions. For example, recently Coca Cola announced that its World Without Waste Initiative to achieve 100% recycled packaging using 50% recycled materials. It also plans to collect and recycle one bottle or can for every item sold. Similarly, Unilever also announced a decision to reduce reliance on Virgin plastics by 50%. It made way for processing and collecting plastic packaging in new ways possible.
The Ocean Cleanup, an organization founded by Dutch inventor, Boyan has initiated a massive drive to collect massive plastic found in the ocean globally. this is done using a device to detect and collect plastic which has reached over 2,000 feet in length. In its initial trials, the device has surpassed expectations globally and is in line with various other initiatives. These include creating packaging materials from plant-based materials.
Zero Waste Packaging Market: Drivers and Restraints
The zero waste packaging market is expected to witness major growth as e-commerce, and food & beverage industry continues to demand innovative, robust, and reliable packaging solutions. The e-commerce industry is replacing conventional brick and mortar stores in the world. Additionally, it is also driving food delivery, which is a new booming consumer demand around the world. Major pharmacies like Walgreens have announced ventures to order and provide delivery online in competition with Amazon. The growth of this industry will lead to major uptakes of electronics, clothes, and other new services as well. The rising need to create new packaging, and technologies like automation, 3D printing are expected to aid growth of the zero waste packaging market.
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Zero Waste Packaging Market: Geographical Analysis
The zero waste packaging market is expected to register major growth in North America region. The growing demand for sustainable solutions, environmentally progressive initiatives in states like Maine banning plastics are expected to drive major growth for the market. Additionally, the region is also witnessing major adoption of technologies like 3D printing is also expected to lower costs and improve quality for manufacturers in the long run. The zero waste packaging market is also expected to register significant growth in Asia Pacific. The rising disposable income, growing demand for consumer products like soft-drinks, and textiles, and manufacturing establishment in the region are likely to drive growth for the market.
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
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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.
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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?
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