RECYCLABLE PACKAGING MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Regional Analysis

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North America dominates the global recyclable packaging market with 37.9% of the market share, owing to strong government support and regulations towards environment protection and waste management in the region. Countries like the U.S. and Canada have implemented strict packaging waste management laws that mandate higher usage of recyclable materials in packaging. This has compelled leading FMCG and consumer durable companies in North America to increasingly rely on recyclable packaging solutions. The region is also a pioneer in recycling technology with presence of global leaders. Moreover, the strong presence of recycling infrastructure and collection systems have streamlined the recycling process in North America.

The Asia Pacific region is fast emerging as another major market for recyclable packaging. Countries like China, India, and other Association of Southeast Asian Nations (ASEAN) nations are witnessing rapid industrialization and economic growth. This has boosted the packaging industry manifold in the region. However, lack of proper waste management was a major issue until recently. Now, governments in Asia Pacific are promoting sustainable development through initiatives targeting waste reduction. Also, growing health and environment concerns among urban middle-class population have increased demand for green packaging. ASEAN countries especially are strategically positioned to tap the export potential of recyclable packaging to developed markets due to availability of raw materials and competitive manufacturing costs. Domestic packaging producers in Asia Pacific have also strengthened their portfolio of recyclable offerings to comply with evolving sustainability priorities of global brands. The favorable regulatory environment and diverse market opportunities make Asia Pacific the fastest growing regional market.