Exciting news this week, as a new report – carried out by American research company, Technavio - reveals that the global recyclable packaging market is expected to grow annually at more than 4% between 2016 and 2020. The report also shows that Europe is the largest market for recyclable packaging.

This predicted growth is the result of a number of factors, including an increase in demand for recyclable packaging from the food and drink industry itself. This can be attributed to companies having to watch their peers gaining a competitive advantage through the use of recyclable packaging, as interest in purchasing sustainable products from consumers increased. Standardised industry norms and the growth of the organised retail sector have also been cited as contributing factors.

Sharan Raj, lead analyst for packaging research at Technavio, said: “The global recyclable packaging materials market is witnessing the standardization of rules, regulations and methods relating to the manufacture of sustainable green packaging. Improving economic conditions in many developed countries, along with the rise in disposable income of consumers in developing countries, has led to an increase in demand for packaged foods.”

At TrakRap, we’re delighted with this development. An increase in demand for packaged foods has led to an increase in demand for sustainable packaging, and the food and drink industry is listening to what consumers want. By working together, we’re moving in the right direction.