The global biodegradable packaging materials is estimated at USD 88 Billion in 2022 and is forecast to surpass USD 169 Billion by 2030, growing at a CAGR of 6.8% from 2022 to 2030.
The global biodegradable packaging materials accounts for ~9% of global packaging market in 2022 and is expected to expand due to augmented consumer spending on sustainable biodegradable packaging materials because of enhanced environment-consciousness.
In the upcoming years, it has been predicted that the market for biodegradable packaging materials will grow noticeably. The market’s quick expansion has been ascribed to the expanding use of biodegradable packaging materials across several industries as a result of rising demand. Additionally, growing consumer awareness of the negative environmental effects of synthetic polymers and other packing materials has been opening up new business opportunities.
Because they have less carbon footprints, biodegradable packaging is expected to expand in popularity in the near future. At various levels of packaging solutions, such as primary, secondary, and tertiary packaging solutions, these packaging solutions are utilised more frequently. Additionally, the raw materials, production method, uses, and composting of these packaging options are distinct from those of traditional non-biodegradable packaging. Additionally, it is predicted that these reasons would help drive the market for biodegradable packaging materials.
The term “biodegradable” describes a material’s capacity to decompose and revert to its natural state. Products or materials used in packaging must fully degrade and transform into natural elements within a short period of time after disposal, usually within a year or less, in order to be considered biodegradable. Paper and plastic are the two segments used to study the market. A further division of the plastics market is made into starch-based, cellulose-based, PLA, PHA, PHB, and other biodegradable polymers. Applications in the food, beverage, pharmaceutical, home care, and personal care industries are among those covered by the market analysis. In the study’s other applications area, secondary packaging for electrical items has also been taken into consideration.
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Global Biodegradable Packaging Materials : Major Players
International Paper Company
Kuehne + Nagel
Global Biodegradable Packaging Materials : By Types
Global Biodegradable Packaging Materials : By Applications
This analysis focuses on sales, revenue, market share, and manufacturer rankings for Biodegradable Packaging Materials from 2017 to 2022. The top players in the global market for biodegradable packaging materials are identified, and their competitive environments and market positions are analysed based on recent developments and segmental revenues. This research will aid stakeholders in properly positioning their businesses and market strategies and in understanding the competitive landscape.
Up until the end of 2021, the market for biodegradable paper packaging materials will experience growth due to consumers’ increasing desire for eco-friendly packaging materials. Due to several steps done by governments of many nations to encourage the use of sustainable packaging materials, the market is seeing a high rate of adoption of biodegradable paper or ecofriendly materials for packaging purposes by retailers and intermediaries. The market’s expansion will also be fueled by elements including increased consumer awareness, shifting consumer attitudes, rising desire for environmentally friendly packaging materials, and rising demand for these packaging materials from retail outlets.
Reasons to Buy This Report:
- Provides niche insights for a decision about every possible segment helping in the strategic decision-making process.
- Market size estimation of the biodegradable packaging materials on a regional and global basis.
- A unique research design for market size estimation and forecast.
- Identification of major companies operating in the market with related developments
- Exhaustive scope to cover all the possible segments helping every stakeholder in the biodegradable packaging materials .