"Growing need for biodegradable and sustainable packaging solutions worldwide will boost the market growth."
The global zero waste packaging market is rising immensely, anticipated to expand at a CAGR of 10.8% throughout the estimated period from 2019 to 2027, starting from US$ 1,496.7 Mn in 2018.
The global zero-waste packaging market is driven by the worldwide need for sustainable and biodegradable packaging solutions. In addition, the surge in a plastic waste generation coupled with growing global environmental concerns are some of the major factors projected to enhance the global market demand during the forecast period. According to the World Bank report, in 2016, the world generated 242 Mn tonnes of plastic waste, around 12% of all solid waste generation.
The growing demand for zero waste packaging products from numerous industries such as food & beverages, healthcare, personal care, and others is estimated to drive the global market during the forecast period. In addition, the rapidly growing plastic recycling is another major factor for market growth during the forecast period. In 2018, global plastic recycling was estimated at nearly 29,438 Kilotons and was projected to expand at a CAGR of around 8.9% over the forecast period. Furthermore, introducing more advanced zero waste packaging products and rising strategic collaborations among market players are further presumed to drive market growth during the forecast period. For instance, in November 2018, Loop Industries, Inc. entered into a multi-year supply agreement with the Coca-Cola Systems CEPG (Cross-Enterprise Procurement Group) to supply 100% sustainable and recycled Loop PET plastic resin. With the agreement, Loop Industries, Inc. increased their client base and market share in the global zero waste management market.
Market Synopsis
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Distribution Analysis
"Increasing need for recycled packaging to spur the segment growth"
In 2018, the offline segment dominated the global zero waste packaging market owing to the surge in the need for recycled & biodegradable packaging solutions. The retail companies are collaborating with the zero waste packaging solution providers to decrease the use of plastic, which is projected to drive segment growth during the forecast period. For instance, in November 2019, Virgin Megastore, an international entertainment retailing chain, collaborates with Avani Eco. As a result, Virgin Megastore bans plastic bags in their UAE stores and started using customized Avani Bio's Cassava bags. The bags are made from vegetable oil, organic resins, and cassava starch, making the product 100% biodegradable. The surge in consumer demand for sustainable packaging solutions is another major growth driver for the offline segment growth in years to come.
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Regional Analysis
"The rising awareness among individuals to enhance North America growth."
In 2018, North America had the highest share in the global zero waste management market. North America contributed more than 40% of the global market in the same year. The rising awareness among individuals, the surge in environmental regulations, and increasing waste generation are the major factors for regional growth. According to the World Bank, North America generates 289 Mn tonnes of waste annually. The U.S. accounted for the major share in the North America zero waste packaging market in 2018. The growing need for sustainable packaging solutions coupled with growing initiatives for zero waste solutions are the major factors for the country's growth. For instance, in December 2019, G.O. Box partnered with New York's Citizen Committee and the A+E Networks. According to the agreement, the G.O. Box will launch a corporate reuse program for the A+E Networks employee cafeteria.
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Key Industry Developments:
- In September 2019, Loliware LLC launched plant-based straws, which start decomposing after 18 hours of use. The plant-based straws are designed to disappear when thrown away. The plant-based straws are not soggy and do not use any kind of paper or wood products, making them more environmentally friendly.
- In February 2019, Loop Industries, Inc. signed a multi-year supply agreement with the world's leading food & beverage company Danone S.A. In this agreement, Danone S.A. will purchase 100% upcycled, and sustainable Loop branded PET for its product portfolio.
- In March 2018, World Centric launched a plant-based, 100% tree-free compostable Pizza container. The aforementioned container will reduce packaging waste, space needs, as well as sogginess & grease, which is common with traditional cardboard boxes. The compostable Pizza container is made up of 20% bamboo and 80% sugarcane material, which both are biodegradable and sustainable.
List of Companies Covered:
- Loop Industries, Inc.
- PulpWorks, Inc.
- Avani Eco
- Loliware LLC
- Aarohana EcoSocial Developments
- Package Free LLC
- Go Box
- World Centric
- Biome Technologies Plc
- Biogusto
- Smartpaddle Technology Pvt. Ltd. (Bizongo)
- RECAP
Historical & Forecast Period
This study report represents analysis for each segment from 2017 to 2027, considering 2018 to be the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period from 2019 to 2027.Segmentation
Material Type (2017–2027; US$ Mn)
- Re-usable Goods
- Compostable Goods
- Edible Goods
Distribution Channel (2017–2027; US$ Mn)
End-user (2017–2027; US$ Mn)
- Food & Beverages
- Healthcare
- Personal Care
- Others (Consumer Products, Confectionary, etc.)
Geography (2017–2027; US$ Mn)
- North America (U.S., Canada)
- Europe (U.K., Germany, France, Spain, Italy, Rest of Europe)
- Asia Pacific (Japan, China, India, Rest of Asia Pacific)
- Rest of the World (Latin America, Middle East & Africa)
The current report also comprehends qualitative and qualitative market valuation factors such as key market drivers, market trends, restraints, and opportunities to understand the overall zero waste packaging market better. In addition, the global report also comprises a graphical representation of the competitive landscape based on market initiatives and strategies, product portfolio, and business strengths.
