Global Recycled Prescription Bag Market is valued approximately USD $ billion in 2020 and is anticipated to grow with a healthy growth rate of more than $ over the forecast period 2021-2027. Recycled Paper bags are type of packaging bags that are made from recycled paper & paperboard materials. Recycled bags are lightweight and non-toxic. Shifting consumer trends towards green packaging and rising government concern over plastic waste are key drivers for the growth of Recycled Prescription Bag market. For instance, according to The European Commission- on 3rd July 2021, The European Union (EU), has banned use of single-use plastic plates, cutlery, straws, balloon sticks etc. and these items cannot be kept on the markets of the EU Member States.
Apart from this, the same rules are applicable to food and beverage containers made of polystyrene, and also products made of oxo-degradable plastic. Also, in October 2020, the New York Department of Environmental Conservation (DEC) has banned use of plastic bags in New York State. Retailers could face fines of up to USD 500. According to the NYC Department of Sanitation, in New York City alone, residents use more than 10 billion single-use carryout bags every year, which requires more than USD 12 million annually in disposal costs.
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According to global database management company Statista- In the year 2019 the global market value of green packaging estimated at USD 178.6 billion, and it is estimated to reach USD 246.3 billion by the year 2025. Also, with the increasing demand for sustainable packaging, the adoption & demand for Recycled Prescription Bag is likely to increase the market growth during the forecast period. However, high cost of Recycled Prescription Bag impedes the growth of the market over the forecast period of 2021-2027.
The key regions considered for the global Recycled Prescription Bag market study includes Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to increasing demand for green packaging and strengthen government policies in the region. Whereas, Asia-Pacific is anticipated to exhibit highest growth rate / CAGR over the forecast period 2021-2027. Factors such as growing pharmaceutical sector and availability of raw material would create lucrative growth prospects for the Recycled Prescription Bag market across Asia-Pacific region.
Major market player included in this report are:
Smurfit Kappa Group Plc
International Paper Company
Novolin HoldingsInc.
Ronpak
Welton Bibby and Baron Limited
El Dorado Packaging Inc.
Langston Companies Inc.
United Bags Inc.
Genpak Flexible
Global-Pak Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Market Type:
Flat Bottom Bags
Pinch-Bottom Bags
Sewn Open Mouth Bags
Pasted Valve Bags
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By End Use Industries:
Hospitals
Diagnostic Clinics
Pharmacies
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
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