The market for recyclable materials is set to grow by 7% as large multi-nationals continue to move towards sustainable green packaging.
The forecast looks at the likely trajectory of growth in sustainable packaging over the next four years. The study by research company Technavio looked at materials, end users and geography in its assessment of the current market and its future direction.
Globally Europe was the stand out market for recyclable packaging with Germany the leading country by far. The main reason for growth in Europe’s recyclable packaging market was the presence of large multinationals such as Nestlé.
The big multinationals now see sustainable packaging as a way to gain an edge of competitors as sustainable packaging becomes a way to boost the appeal of products as much as it protects the earth’s resources.
Aside from the commitment to sustainable packaging of some of the world’s biggest food manufacturers, some of the biggest factors in rising demand were standardised industry norms where recyclable packaging is beginning to replace other forms of packaging. Also increased demand from food and beverage industry keen to attract eco conscious consumers.
Food and beverage manufacturers continue to drive high demand for sustainable packaging materials that not only increase shelf life but also maintain its nutritional value for health conscious consumers.