- Strict government regulations and growing consumer awareness are prominent factors expected to grow the market.
- Low strength and high costs are expected to hamper the market.
- Increasing emphasis towards recycling and waste recovery is a strong factor expected to drive the market.
Green packaging is also known as sustainable packaging that uses materials and manufacturing methods for the packaging of goods that has a low impact on both energy consumption and on the environment. They are primarily made of woods, organic rubber and other material that easy decomposes in the environment.
The packaging is a crucial requirement of several other industrial sectors such as medicine and healthcare, food and beverage, pharmaceutical, retail, and personal care. The fact that it has interim effect on animal and marine life due to this there is heightening demand for sustainable packaging, this is a vital factor expected to drive the global recyclable packaging market.
Likewise, there are other several factors which are expected to drive the global recyclable packaging market in the coming few years. We have mentioned a few of them below have a look.
Strict government regulations and growing consumer awareness to protect the environment is a prominent factor anticipated to propel the recyclable packaging market. Several private and public bodies are making efforts to educate people regarding the harsh environmental effect of plastic-based packaging.
Despite several drivers and opportunities, growth in the global recyclable packaging market is likely to hamper due to factors such as low strength and high costs. Due to this, it becomes difficult for small scale industries to opt for recyclable packaging market.
In addition to this, fluctuating raw material prices and unavailability of advanced equipment are other factors likely to hamper market growth.
Nevertheless, factors such as increasing emphasis towards recycling and waste recovery, rising demand for bioplastics and improvements in packaging and logistical efficiency is a strong factor expected to drive the global recyclable packaging market in the coming few years.