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.