IMARC Group, a leading market research company, has recently releases report “Biodegradable Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032” The global biodegradable packaging market size reached US$ 101.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 166.2 Billion by 2032, exhibiting a growth rate (CAGR) of 5.45% during 2024-2032.
Biodegradable packaging refers to materials that naturally decompose and reduce the impact of waste on ecosystems. They can break down into organic matter, water, and carbon dioxide through the actions of microorganisms. They can be tailored to meet specific requirements for strength, flexibility, and barrier properties. They have a lower carbon footprint as compared to traditional plastics and minimize the accumulation of non-degradable waste in landfills and oceans. They help mitigate plastic pollution and prevent the release of harmful chemicals during degradation. They are widely used for items like disposable cutlery, takeaway containers, and single-use bags. Besides this, they are utilized in agricultural products like biodegradable mulch films, seedling pots, and soil bags.
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What are the growth prospects and trends in the Biodegradable Packaging Industry:
The rising prevalence of various respiratory diseases due to increasing pollution levels is driving the demand for biodegradable packaging materials. Individuals and businesses are seeking eco-friendly alternatives that align with sustainability goals. Furthermore, continuous advancements in biodegradable materials and packaging technologies are improving the performance and versatility of these solutions. Along with this, rapid innovations in materials science are leading to the development of biodegradable polymers with enhanced strength, flexibility, and barrier properties, making them suitable for numerous applications, including food packaging, agriculture, and consumer goods. Besides this, the growing emphasis on circular economy practices is another significant factor propelling the market growth. Companies are increasingly focusing on designing packaging that can be easily recycled or composted, thus closing the loop on waste and reducing the environmental impact of packaging materials. In addition, the increasing preferences of individuals for products with sustainable and environment-friendly packaging are creating a positive outlook for the market. Moreover, the rising trend of “green” and socially responsible branding is catalyzing the demand for biodegradable packaging materials. Furthermore, the increasing collaborations among key industry players are driving innovation and expanding the availability of biodegradable packaging options. Along with this, the rising reliance of individuals on online shopping channels is driving the demand for packaging materials.
Who are the key players operating in the biodegradable packaging 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).
Key market segmentation:
Breakup by Material Type:
- Plastic
- Starch-based Plastics
- Cellulose-based Plastics
- Polylactic Acid (PLA)
- Poly-3-Hydroxybutyrate (PHB)
- Polyhydroxyalkanoates (PHA)
- Others
- Paper
- Kraft Paper
- Flexible Paper
- Corrugated Fiberboard
- Boxboard
Breakup by Application:
- Food Packaging
- Beverage Packaging
- Pharmaceutical Packaging
- Personal/Homecare Packaging
- Others
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
- Market Outlook
- 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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