Global Recycled Paper Packaging Market Analysis, Segments up to 2024
Increase in demand for eco-friendly products, in turn, is expected to drive demand for recycled paper packaging in the near future. The waste paper generated from the end-use industries and by the consumers is utilized as raw material for the production of recycled paper packaging. The major advantage of using recycled paper packaging is the associated reduction in the cost of packaging material. This is a major factor expected to increase the demand as well as consumption of recycled paper for packaging, thereby boosting growth of the global recycled paper packaging market over the forecast period. Stringent government regulations pertaining to environmental concerns and reduction in carbon emissions are also among the major factors expected to fuel consumption of recycled paper packaging across the end-use industries. Moreover, the ongoing growth witnessed in the end-use industries, such as food and beverages, is also anticipated to fuel growth of the global recycled paper packaging market in the coming years. The global recycled paper packaging market is anticipated to expand at a moderate CAGR over the forecast period.
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Recycled Paper Packaging Market: Drivers and Restraints
Recycled paper packaging is expected to find major applications in the food and beverages industry. Thus, the growth of the industry, in turn, is expected to drive growth of the recycled paper packaging market over the forecast period. Besides, the increasing consumer awareness pertaining to use of recycled products is anticipated to further boost the demand for recycled paper packaging products, thereby driving growth of the market over the forecast period. Moreover, the increasing awareness about the hazardous effects of plastic waste accumulation is also projected to be a major reason for growth of recycled paper packaging market over the forecast period. The increasing government initiatives and support for the use of recycled products is also expected to be a major factor boosting growth of the recycled paper packaging market further.
Threat form new entrants in estimated to be a major challenge for the existing players in the recycled paper packaging market. Major players in the recycled paper packaging market are entering into mergers and acquisitions to sustain and expand their position in the market.
Recycled Paper Packaging Market: Region – wise outlook
The global recycled paper packaging market is segmented into seven key regions on the basis of geography, namely North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, the Middle East and Africa, and Japan. North America is expected to account for a major share of the global recycled paper packaging market over the forecast period. Asia Pacific is expected to be the fastest growing market in the global recycled paper packaging market over the forecast period. On the basis of country, China is expected to constitute a major share of the global recycled paper packaging market over the forecast period. The increasing consumer awareness pertaining to use of recycled products in the country is expected to drive demand for recycled paper packaging in China.
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Recycled Paper Packaging Market: Major key players
Some of the key market players identified in the global recycled paper packaging market are
Pratt Industries, Inc.
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