Press Release: Technavio Research – Wed, Apr 8, 2015 16:35 BST
Technavio has published a new report on the Global Recycled Paper Packaging Market, which is expected to grow at a rate of 7.73 percent from 2015-2019.
According to the latest report by Technavio, consumers are increasingly choosing eco-friendly packaging products over conventional packaging. Demand for sustainable packaging material is on the rise because of the growing affluent middle class population and a number of government initiatives in developing and developed countries.
“Growing consumer awareness about recycling and the ill-effects of plastic waste accumulation are expected to have a positive impact on the growth of the market during the forecast period,” says Faisal Ghaus, Vice President of Technavio.
The new Technavio report also emphasizes the growing demand for paper packaging products in China, which will influence the demand for recycled paper packaging products in the APAC region as a whole. Furthermore, governments of various countries worldwide are also implementing stringent regulations to encourage product recycling.
“The extended producer responsibility policy has been implemented in many countries worldwide, and mandates that manufacturers pay for the recycling and safe disposal of their products, rather than forcing local government to foot the bill,” says Ghaus.
Technavio is a leading global technology research and advisory company.
Founded in 2003, Technavio has about 200 analysts globally and develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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