Zero Waste Packaging: An Industry on the Rise
Zero Waste packaging is a worldwide trend. In this process exists a complete utilization of the materials, as well as the recycling of those that intervene in this chain. That is to say, there is no leftover product at the end of the process.
Figures on the subject
The global zero waste packaging market, in 2018, was valued at $1,312.16 billion and equally important, is expected to grow at a compound annual rate of 8.78% over the period 2020-2027, according to The Zero Waste Packaging Market Outlook & Projections, 2019-2027, by ResearchAndMarkets.com.
The upward trend in this global market is due to factors such as concern for the environment, as well as the growing need for sustainable packaging methods and increased consumer demand for this type of packaging.
The Zero Waste Packaging Market Outlook & Projections, 2019-2027
The study published in ResearchAndMarkets.com is structured in thirteen chapters. These basically delve, among other topics, into: analysis of the industry’s value chain; technological framework; regulatory landscape; market dynamics; key opportunities; analysis of industry risks; global market prospects; competitive structure; and strategic recommendations.
On the other hand the market for waste-free packaging consists of several segments: type of material, end use industry, distribution channel and region. Another key point is that the compostable goods, which integrate the type of material segment, were valued in 659.64 million dollars in 2018 and occupied the highest market share with 58.3% in the same year.
These figures undoubtedly show how people’s awareness of the waste that remains and the damage it can cause to the environment has increased.
Industry by regions
The regions in which the global Zero Waste packaging market consists of are:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The report estimates that the market in North America, which registered 460.56 million dollars in 2018, will have the largest market share, with about 40%, during the forecast period.
On the other hand, the key industry leaders are:
- GO Box
- World Centric
- PulpWorks, Inc.
- Package Free
- Avani Eco
- Loop Industries, Inc.
At FySelf we advocate for Zero Waste because of the environmental protection it brings. If you support the idea of a world of zero waste join our volunteer program. You can be part of our team.