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The rising focus on reusing materials in the food-packaging industry
NEW YORK CITY, NEW YORK, USA, August 4, 2022 /EINPresswire.com/ — The Global Reusable Food Packaging Market is projected to reach USD 29.32 billion in 2027. The factors associated to the growth of the market include the greater emphasis on the zero-waste of plastic packaging especially in the European Union and North American nations, newer restrictions on the single usage of plastic food-packaging especially for the take-out meals, higher degree of recyclability using a certain plastic ingredients used in the packaging, rising requirement of flexible food-grade packaging solutions, technological advancement in recyclable plastic products and the overall importance on the reduced plastic usage.
An increasing penetration for the reusable-as-a-service for the food packaging especially have been observed as some of the start-up companies like GoBox, Ozarka started offering reusable takeout containers at a reasonable price, which the customers are willing pay for. Business models from these start-up made use of the loop of usage of the containers and disposable of the same going through a thorough cleaning & sanitization, and enabling those for a reuse along with incorporating the certified food-grade reusable or recyclable materials for manufacturing the containers. This way the zero-waste revolution has created a reusable-as-a-service business venture that is deliberately helping in the market reinforcement.
The underlying reason being, in these industries, the effective disperse of the packaged foods, without it being damaged is essential. The market is also benefited by the expansion of the online food delivery businesses across different parts of the globe. For the operation of this sector, protection of the packaged food from being tampered or damaged is crucial, which increases the relevance of this packaging in the industry.
The COVID-19 impact:
The COVID-19 pandemic would undoubtedly put the growth of the industry at any point in jeopardy. Significant players in the industry remain unsure about the future of the industry, and they tend to adapt their strategies to support themselves in this battle. The pandemic had a significant impact on manufacturing, packaging recyclable or reusable services industries and most multinational companies had to avoid factories and other sectors. However, owing to a higher emphasis on safety of the packaged food, an effective measurement of sterilization & sanitization has been adopted by the food delivery & processing chains in order to retain their customer trust and brand preference. Apart from the disposable packaging, a higher importance upon the reusable packing has been observed lately which created a higher possibility of the market growth in the forthcoming period.
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Further key findings from the report suggest
• Having accomplished the recyclability of the food-grade packaging with a long-lasting product lifecycle, some of the innovative companies are now focusing on changing the conventional framework of take, fill and waste paradigm to a newer model where the zero-waste lifestyle can be followed. This way, they can not only reduce the operational cost for food-packaging that earlier involved the long-lived detritus and continuous expenses on new packaging every time.
• Start-ups like Eco-Takeouts provides the reusable takeout containers to the cafeterias in companies, hospitals and universities, while DeliverZero based in Brooklyn, New York, uses recyclable containers for their food delivery. Canteen by Dig an innovative restaurant in New York provides reusable to-go containers or boxes in exchange for a USD 3 monthly fee.
• In view of growing product penetration in food logistics & transportation especially for the food delivery business, the Reusable food packaging market is expected to expand considerably over the forecast period.
• In context to End-user, the Bakery & Confectionery segment occupies the largest market share of 22.7% in 2019 with the fastest growth rate of 6.7% during the forecast period. The food & beverage industry is seen to use this packaging extensively due to its utility in the transportation of different food-grade packaging to its suppliers.
• In spite of various advantages associated with this packaging, which are promoting the market expansion, factors like diverse environmental regulations in different regions and small manufacturer’s concern of the Cost-To-Benefit Ratio may act as a concern for the market growth.
• Key players in the market include Amcor, Sealed Air Corporation, BASF, WestRock, Evergreen packaging, Rehrig Pacific Company, Swedbrand Groups, IPL Plastics, Vetropack Holding, and Schütz GmbH & Co. KGaA, among others.
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For the purpose of this report, Reports and Data have segmented into the global Reusable Food Packaging Market on the basis of Raw Materials, Type, End-User, and region:
Raw Materials Outlook (Revenue: USD Billion; Volume: Million Units; 2017-2027)
Type Outlook (Revenue: USD Billion; Volume: Million Units; 2017-2027)
• Box & Containers
• Crates & Pallets
• Pouches & Tubes
• Intermediate Bulk Containers (IBC)
• Bottles & Jars
• Drums & Barrels
End-User Outlook (Revenue: USD Billion; Volume: Million Units; 2017-2027)
• Bakery & Confectionery
• Convenience Food
• Raw Meat & Fish
• Fruits & Vegetables
• Dairy Products & Beverages
Regional Outlook (Revenue: USD Billion; Volume: Million Units; 2017-2027)
• North America
• Asia Pacific
o South Korea
o Rest of APAC
• Latin America
o Rest of LATAM
o Saudi Arabia
o Rest of MEA
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