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At the end of the decade, the zero-waste packaging market is expected to have grown significantly due to the growing focus on sustainable packaging and improving waste management infrastructure.
According to Grand View Research, the market is envisioned to reach a value of $502.6 billion by 2030, growing at a CAGR of 9.6%. The report finds that the market is dominated by paper and cardboard materials and they held a 75% revenue share in 2022.
The report from Grand View Research examined many different materials and types of sustainable packaging, like for example recyclable and biodegradable. It also looked at industries including personal care, electronics, healthcare together with food and beverages, Environmental Leader explained. Nearly the whole market consists of reusable and recyclable packaging, which are usually made from paper, paperboard, glass and metal.
The report says that edible packaging is expected to grow at the highest annual rate, at nearly 19% a year, due to its sustainability and eco-friendliness. Generally, edible packaging is made of plant based materials that are biodegradable and can be consumed.
According to Environmental Leader, United States has significant infrastructure that continues to encourage growth of zero-waste packaging. However, the most growth in zero-waste packaging will occur in Central America and South America with a growing clip of 9.8% per year through 2030. The Grandview Research says that is due to increasing awareness of sustainable packaging in the region.
Across industries sustainable packaging is an increasing priority and according to a survey from Ball - recyclability, reusability and biodegradability are the most important qualities users want.