Zero Waste Packaging Market To Reach $502.6B By 2030
the forecast period owing to its sustainability and eco-friendliness. Increasing awareness about this new- ly developed packaging solution across developing economies is further driving the market. • Based on the distribution channel, the offline segment accounted for the maximum revenue share of more than 50 percent in 2022 and is projected to maintain its dominance throughout the forecast period. The high penetration of the offline system in the end-use market is a major factor supporting its dominance in the global market. • The e-commerce application segment is expected to expand at the highest CAGR of 10.3 percent in terms of revenue over the forecast period. The continuously expanding customer base for online purchasing, espe- cially post the coronavirus pandemic, is supporting the growth of the segment. • The Central and South America region is expected to expand at a CAGR of 9.8 percent in terms of revenue over the forecast period. The region is projected to ex- hibit growth on account of the increasing internet pen- etration and awareness about sustainable packaging solutions in major countries including Brazil and Argen- tina. The rising awareness about various types of environ- ment-friendly packaging solutions offered by internation- al organizations through the electronic medium is further supporting the demand for zero waste packaging.
The global zero waste packaging market size is expect- ed to reach $502.6 billion by 2030, expanding at a Com- pound Annual Growth Rate of 9.6 percent from 2023 to 2030, according to a new report by Grand View Research. The increasing awareness about sustainable packag- ing products across industries, developing infrastructure for waste management, and sensible disposal practices across developed and some developing countries are driving the market. • The paper and cardboard material segment held a dominant revenue share of more than 75 percent in 2022. The developed infrastructure for closing the loop of old corrugated containers (OCC) in the man- ufacturing industry, where it has the highest recycling rate of around 90 percent across the globe, is support- ing the segment growth. • The reusable/recyclable packaging type segment ac- counted for the largest revenue share of more than 95 percent in 2022 and is projected to maintain this position throughout the forecast period. The reusable and recyclable packaging products are usually manu- factured from paper and paperboard, glass, and metal. • The edible packaging type segment is expected to expand at the highest CAGR of 18.9 percent over
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20 January 9, 2023
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