Report Ocean recently released a research report on the Biodegradable Packaging Market, which covers the market’s historical growth, cost structure, revenue, trends, and potential prospects for the period 2023-2031. The report provides an extensive coverage of the market across various categories and includes a detailed analysis at the national level, along with an evaluation of the key drivers, restraints, trends, and opportunities in the market.
The global biodegradable packaging market size was US$ 3.1 billion in 2021. The global biodegradable packaging market is forecast to grow to US$ 29.1 billion by 2030, registering a compound annual growth rate (CAGR) of 9.1% during the forecast period from 2022 to 2030.
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Factors Influencing the Market
- The increasing awareness about the hazardous health effects of pollution is forecast to fuel the growth of the biodegradable packaging market. The demand for eco-friendly plastic has been increasing. In addition, increasing efforts from governments to reduce the use of non-biodegradable conventional plastics is forecast to benefit the global market.
- The increasing demand for ready-to-eat food, beverage, pharmaceuticals, and cosmetics is forecast to benefit the global biodegradable packaging market. In addition, the beneficial applications of biodegradable packaging in electronics, medical, and automotive will fuel the growth of the market.
- The introduction of innovative solutions and growing investments in R&D activities are all forecasts to contribute to the growth of the global biodegradable packaging market.
- The high cost of the product may hamper the growth of the global biodegradable packaging market during the forecast period.
- The increasing number of the working population is forecast to offer ample growth opportunities for the market players during the pandemic. In addition, the growth of the hospitality sector and the growing trend of cloud kitchens will benefit the global biodegradable packaging market.
Regional Analysis
On the basis of region, North America and Europe will emerge as the potentially lucrative regional markets, owing to the growing number of technological advancements and increasing awareness about eco-friendly products. In addition, Asia Pacific will register promising growth due to the rising demand for recyclable materials and increasing government initiatives. In addition, the expansion of the FMCG, automotive, pharmaceuticals, and other industries will further bolster the growth of the Asia-pacific biodegradable packaging market during the forecast period from 2022 to 2030.
COVID-19 Impact Analysis
The COVID-19 pandemic had a positive impact on the pharmaceuticals and food and beverage industries. As a result, it fueled the growth of the global biodegradable packaging market. During the pandemic, people started adopting ready-to-eat packed products in order to avoid human contact. Moreover, the pharmaceuticals industry also witnessed significant growth during the pandemic. As a result, it surged the demand for efficient, biodegradable packaging during the pandemic period.
However, the high cost of the packaging was a significant challenge witnessed by the market during the pandemic.
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Competitors in the Market
- NatureWorks
- Total Corbion
- Novamont
- Biome Bioplastics
- Mitsubishi Chemical Holding Corporation
- Toray Industries
- Plantic Technologies
- Danimer Scientific
- Fkur Kunstsoff
- Other Prominent Players
Market Segmentation
The global biodegradable packaging market segmentation focuses on Type, End-Use, and Region.
On the basis of Type
- PLA
- Starch Blends
- PHA
- Biodegradable Polyesters
On the basis of End-use
- Packaging
- Consumer Goods
- Textile
- Agriculture & Horticulture
- Others
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On the basis of Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
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Table of Content
Chapter 1: Global Biodegradable Packaging Industry Overview
Chapter 3: Market Dynamics
Chapter 4: Top Company Profiles
Chapter 5: Global Biodegradable Packaging market Competition, by Players
Chapter 6: Global Market Size by Regions
Chapter 7: Global Market Segment by Application
Chapter 8: Global Biodegradable Packaging Industry Segment by Type
Chapter 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Chapter 10: Strategies and key policies by Distributors/Suppliers/Traders
Chapter 11: Key Marketing Strategy Analysis, by Market Vendors
Chapter 12: Market Effect Factors Analysis
Chapter 13: Global Biodegradable Packaging market Size Forecast (2023-2031).
Continue….
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of Biodegradable Packaging market revenues on a global, regional, and country level, projecting trends until 2031. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the Biodegradable Packaging market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the Biodegradable Packaging market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate Biodegradable Packaging business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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