E-Paper

Issue:201910
Recycled Packaging Markets in 2023
Recycled Packaging Markets in 2023

The new market report from Smithers Pira "The Future of Recycled Packaging Markets in 2023" predicts that by 2023, the recycled content of paperboard, metal and glass will remain the same as they are today, as these are already mature and saturated recycling industries. The report points out that the overall percentage of recycled ingredients in plastic packaging is bound to increase as retail chains and brands promise to include more recycled ingredients in their packaging. In addition, governments in many countries have set strict targets for the inclusion of higher recycled components in packaging, especially plastics, within five years of 2023.

 

The report focuses on $136.5 billion in global recycled packaging materials for packaging in 2018, and estimates that the market will grow 5.7% to $180 per year between 2018 and 2023. The consumption of 1 billion global recycled packaging materials used for packaging reached 188.7 million tons (208 million tons) in 2018, and is expected to increase by 4.7% to 237.2 million tons and 261 million tons per year.

 

Smithers Pira said major brand owners and large retail chains have announced sustainable packaging targets in response to growing public concerns about the environmental impact of discarded packaging. These measures include:

 

Eliminate difficult or unnecessary disposable plastic packaging

Improve design to use less or more sustainable materials

Make all plastic packaging reusable, recyclable or compostable

Make sure the packaging contains recycled materials

 

The EU has also initiated a series of legislative programs and regulations to support the increased use of recycled materials in packaging.