The “Biodegradable Packaging Market” 2023-2031 Research Report affords qualitative and quantitative insights into the principal drivers, constraints, opportunities, and challenges influencing world markets growth. The find out about offers complete statistical market records on the leading players, as nicely as income predictions. This market lookup additionally presents statistics on the income boom of numerous regional and country-level markets, as properly as the opposition panorama and unique organization analyses for the projected period. The Biodegradable Packaging Market Report covers potential improvement drivers as properly as the modern-day kingdom of market share, penetration of a number of kinds, technologies, applications, and areas thru 2031.
The global biodegradable packaging market size was US$ 85.7 billion in 2021. The global biodegradable packaging market is forecast to grow to US$ 131.8 billion by 2030 by growing at a compound annual growth rate (CAGR) of 6.1% during the period from 2022 to 2030.
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Bio-degradable packaging solutions are highly efficient as they are environmentally friendly. Moreover, they are manufactured through renewable resources like starch and cellulose, which can be easily decomposed.
Factors Influencing the Market
Concerns related to carbon emissions are growing all across the globe. Government bodies are also working towards combating these issues. The growing popularity of bio-degradable packaging is forecast to escalate due to these factors.
Increasing regulation related to the plastic ban will also fuel the growth of the global biodegradable packaging market. Furthermore, the growing range of innovations in biodegradable packaging will also contribute to the market growth. For instance, the European Commission and the bio-based Industries Consortium (BIC) together unveiled their FRESH project funded by the Bio-Based Industries Joint Undertaking (BBI JU).
Prominent companies are also actively supporting the zero-carbon initiative. For instance, Carlsberg, one of the prominent beverage companies, is focusing on research into bio-degradable beverage bottle innovations. Such advancements will strengthen brand foothold in the industry, which will also benefit the biodegradable packaging market.
COVID-19 Impact Analysis
The COVID-19 pandemic primarily affected R&D activities, which has been challenging for the biodegradable packaging market. However, the pandemic has raised crucial awareness about lowering the carbon footprint, which will benefit the biodegradable packaging market post-pandemic. Furthermore, surging awareness about the harmful effects of the non-biodegradable material will fuel the growth of the biodegradable packaging market.
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Regional Analysis
Globally, the Asia-Pacific biodegradable packaging market is forecast to emerge as the largest market. It is owing to the growing demand for bio-degradable materials and the increasing focus of leading companies in contributing to the sustainable initiative. Various companies in the food and beverage industry are looking forward to developing sustainable packaging solutions. Thus, it will benefit the overall market. Furthermore, the government of China has also introduced various regulations to escalate the use of biodegradable materials, which will benefit the market.
Moreover, India is also among the largest contributor to the biodegradable packaging market. It is attributed to the rising awareness of the hazardous effects of non-biodegradable materials. Furthermore, companies, such as Biogreen, have started offering complete sustainable solutions. Thus, it will boost the growth of the Asia-Pacific biodegradable packaging market during the study period.
Competitors in the Market
- Tetra Pak International SA
- Kruger Inc.
- Amcor Limited
- Mondi PLC
- Biopac Limited
- Plastic Suppliers Inc.
- International Paper Company
- Bemis Company Inc.
- DS Smith PLC
- Klabin SA
- Rengo Co. Ltd
- Other Prominent Players
Market Segmentation
The global biodegradable packaging market segmentation focuses on Material, Application, and Region.
By Material Type Outlook
- Plastic
- Starch-Based Plastics
- Polylactic Acid (PLA)
- Polyhydroxyalkanoates (PHA)
- Other Plastics
- Paper
- Kraft Paper
- Flexible Paper
- Corrugated Fiberboard
- Boxboard
By Application Outlook
- Food Packaging
- Beverage Packaging
- Pharmaceutical Packaging
- Personal Care/Homecare Packaging
- Other Applications
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By Regional Outlook
- 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
What factors are taken into consideration when assessing the key market players?
- The report analyzes companies across the globe in detail.
- The report provides an overview of major vendors in the market, including key players.
- Reports include information about each manufacturer, such as profiles, revenue, product pricing, and other pertinent information about the manufactured products.
- This report includes a comparison of market competitors and a discussion of the standpoints of the major players.
- Market reports provide information regarding recent developments, mergers, and acquisitions involving key players.
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