How Big is The Biodegradable Packaging Market:
The latest research study “Biodegradable Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The global biodegradable packaging market size reached US$ 95.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 133.5 Billion by 2028, exhibiting a growth rate (CAGR) of 5.59% during 2023-2028.
What are Biodegradable Packaging?
Biodegradable packaging represents eco-friendly and recyclable packaging products made from materials that are easily disintegrated and decomposed by microorganisms, including fungi, bacteria, and algae. They can be of various types, such as corrugated bubble wrap, bioplastics, recycled cardboard, organic fabrics, starch-based plastics, and other plant-based materials. Biodegradable packaging products help support human and ecological health by reducing carbon footprint as compared to conventionally used synthetic packaging solutions. They even aid in minimizing plastic usage and preventing littering issues, thereby ensuring environmental welfare. As a result, biodegradable packaging items find extensive utilization across numerous sectors, including food and beverage (F&B), pharmaceuticals, personal care, etc.
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What are the growth prospects and trends in the Biodegradable Packaging Industry:
The shifting preferences toward ready-to-eat meals, on account of the growing working population and busy schedules, and the increasing need for effective packaging solutions for such food items are primarily driving the biodegradable packaging market. In line with this, the escalating demand for bottled water and beverages is further catalyzing the product demand. In addition to this, the rising awareness among the masses about the harmful effects of non-biodegradable packages on the environment and the implementation of several stringent regulations by government bodies across countries aimed at decreasing carbon emissions are acting as significant growth-inducing factors. Moreover, the expanding e-commerce segment and the emerging trend of online shopping are also positively influencing the global market. Besides this, the inflating investments by leading market players in extrusion coating and resin reclamation technology to improve flexibility and speed of manufacturing processes and offer the right packaging solutions are expected to propel the biodegradable packaging market over the forecasted period.
Who are the key players operating in the industry?
Amcor PLC, Berkley International Packaging Limited, Biopak PTY LTD, Elevate Packaging Inc., Greenpack Limited, International Paper Company, Kruger Inc., Mondi Group, Ranpak Holding Corporation, Smurfit Kappa Group PLC, Tetra Pak International SA and Toray Plastics (America) Inc. (Toray Industries Inc).
What is included in market segmentation?
Breakup by Material Type:
- Starch-based Plastics
- Cellulose-based Plastics
- Polylactic Acid (PLA)
- Poly-3-Hydroxybutyrate (PHB)
- Polyhydroxyalkanoates (PHA)
- Kraft Paper
- Flexible Paper
- Corrugated Fiberboard
Breakup by Application:
- Food Packaging
- Beverage Packaging
- Pharmaceutical Packaging
- Personal/Homecare Packaging
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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