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Global Biodegradable Packaging Material Market Size was valued at USD 89.5 Billion in 2022. The Biodegradable Packaging Material Market industry is projected to grow from USD 95.8 Billion in 2023 to USD 167.5 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.30% during the forecast period (2023 - 2032). Demand for recyclable and biodegradable products is rising across a range of end-user industries, and customers want eco-friendly packaging materials, are the key market drivers enhancing the market growth.
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
The need for recyclable and ecologically friendly alternatives has led to a rapid expansion of the market for Biodegradable Packaging Material Market materials. When exposed to microbial action, the market solutions have the property of deteriorating or transforming into natural materials. These biodegradable polymers are also either fossil- or bio-based, often generated from natural resources, and made utilizing eco-friendly production processes.
The market for Biodegradable Packaging Material Market materials, which has been growing as end-use industries' demand for recyclable materials has increased, provides products for the packaging industry. Healthcare, food & beverage, and pharmaceuticals are some of these industries. Among these is the food packaging industry, which promotes eco-friendly living throughout the world by using Biodegradable Packaging Material Market materials. Several worldwide and regional laws aimed at lowering the ecological concerns presented by overflowing landfills are expected to hasten the adoption of these Biodegradable Packaging Material Market materials. Along with this, there has been an increase in demand for these solutions in recent years as a result of the significant and ongoing push to adopt sustainability in modern living.
The continued demand for bottled water and non-alcoholic beverages is likely to drive growth in the market for Biodegradable Packaging Material Market in the beverage industry. The demand for bottled water is influenced by a number of factors, including the need for high-quality drinking water in particular, the fear that consuming tainted tap water might make them ill, and the mobility and convenience that bottled water provides.
The development of affordable Biodegradable Packaging Material Market materials is now predicted to increase in the packaging sector. Because of widespread product developments, the market for Biodegradable Packaging Material Market materials is anticipated to offer possibilities for revenue growth. Thus, driving the Biodegradable Packaging Material Market revenue.
The global Biodegradable Packaging Material Market segmentation, based on Type, includes recycled content packaging, reusable packaging, and degradable packaging. In 2022, the global market was dominated by Biodegradable Packaging Material Market. The development of the market will be aided by initiatives taken by trade organizations, brand owners, packaging businesses, and others to promote sustainability programs that will raise the recycling rates of different kinds of packaging materials.
The global Biodegradable Packaging Material Market segmentation, based on Material Type, includes plastic, paper & paperboard, and bagasse. Since paper is made from fully biodegradable wood pulp, the paper & paperboard segment dominated the global market in 2022 and is heavily preferred by manufacturers of Biodegradable Packaging Material Market. By the end of 2032, the biodegradable paper & paperboard packaging segment is anticipated to account for 85% of the worldwide Biodegradable Packaging Material Market.
The global Biodegradable Packaging Material Market segmentation, based on Packaging Format, includes bottles & jars, boxes & cartons, cans, trays & clamshells, cups & bowls, pouches & bags, films & wraps, labels & tapes, and others. Boxes and cartons are anticipated to rule the Biodegradable Packaging Material Market during the anticipated time frame. This is due to the fact that many end use industries are adopting rigid packaging like boxes and cartons more and more.
The global Biodegradable Packaging Material Market segmentation, based on Application, includes food & beverages, personal care, healthcare, and others. The food and beverage industry dominates the global market for Biodegradable Packaging Material Market. Convenience food dominates the market for food and beverage packaging because of its portability, prolonged shelf life, and straightforward manufacturing. Convenience food categories cover frozen foods, snacks, finger foods, beverages, and other products. The meal components typically come in heated, on-the-go containers and take less time to prepare.
The global Biodegradable Packaging Material Market segmentation, based on Distribution Channel, includes wholesalers, retailers, distributors, resellers, and others. The wholesalers sub-segment dominated the global market in 2022 and is predicted to maintain its dominance during the forecast period as a result of the increased demand for Biodegradable Packaging Material Market in the commercial F&B sector globally.
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
Insights into the markets in North America, Europe, Asia-Pacific, and the rest of the world are provided by the study. North America Biodegradable Packaging Material Market dominated the global Biodegradable Packaging Material Market in 2022. The market for Biodegradable Packaging Material Market materials is anticipated to be driven by U.S. Food Packaging Regulations established by the U.S. Food and Drug Administration (FDA), which regulate materials like plastics, papers, etc. to ensure they are safer to use along with growing consumer awareness of eco-friendly packaging. Further, In the North American area, the U.S. ****** market had the biggest market share, while the Canada market had the quickest rate of expansion.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the U.K, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
During the projected period, the European Biodegradable Packaging Material Market is anticipated to expand at a respectable clip. Positive government regulations and rising consumer awareness of ecologically friendly packaging are predicted to drive the market for Biodegradable Packaging Material Market materials in Europe. Further, In the European region, the German market had the biggest market share, and the U.K. market had the quickest rate of growth.
The market for Biodegradable Packaging Material Market in Asia Pacific is anticipated to develop at the quickest rate during the forecast period. Because of the increasing population density, more people are consuming convenient foods and drinks. Additionally, in response to rising consumer environmental concerns, green packaging producers in China, India, Japan, and South Korea are anticipated to place a greater emphasis on environmentally friendly packaging solutions, which will boost the regional market. Further, In the Asia-Pacific region, the Indian market had the quickest rate of growth while China's market had the greatest market share.
Leading industry companies are making significant R&D investments in order to diversify their product offerings, which will drive the ****** market's expansion. Important market developments include new product releases, contractual agreements, mergers and acquisitions, greater investments, and collaboration with other organizations. Market participants are also engaging in a number of strategic actions to increase their global footprint. The ****** sector needs to provide affordable products if it wants to grow and thrive in a more competitive and challenging market environment.
One of the primary business strategies employed by manufacturers in the worldwide Aerospace Foam industry to assist customers and expand the market sector is local manufacturing to reduce operational costs. Some of the biggest benefits to medicine have recently come from the ****** sector. Major players in the Biodegradable Packaging Material Market, including Amcor, Be Green Packaging, DS Smith, DuPont, Evergreen Packaging, Mondi, Nampak, Ball Corp., Sealed Air, Tetra Laval, are attempting to increase market demand by investing in research and development operations.
Paper packaging services are provided by Smurfit Kappa Group Plc (Smurfit). This company produces, distributes, and markets corrugated containers, container boards, and other paper-based packaging products. The business sells solid and graphic boards, paper bags, protective packaging, container boards, kraftliners, and corrugated and packaging products. Also available are recovered papers and packing supplies. In order to strengthen its ability to meet the increased demand for innovative and environmentally friendly packaging, Smurfit Kappa announced in January 2022 that it will invest USD 33 million in its Fortaleza, Brazil, factory.
Packaging solutions are provided by Amcor Plc (Amcor). Its selection of plastic, fiber, metal, and glass packaging products includes pet bottles, plastic bottles and jars, capsules and closures, customized folding cartons, free films, bags and pouches, wrappers, rigid containers, laminates, and flow packs, to name a few. The food, pharmaceutical, medical device, personal care, pet care, home care, and specialty cartons industries are just a few of the businesses that employ the company's goods. It also services the markets for home goods, pharmaceuticals, personal care products, and healthcare. Across Oceania, North America, Western Europe, and the Asia-Pacific area, the corporation has operations. The headquarters of Amcor are located in Bristol, United Kingdom. Amcor introduced a green chocolate package in South America in June 2021. The business created and made reusable plastic canisters for cocoa powder. When compared to the prior packaging, the packaging reduced the carbon effect by 53%.
· Amcor
· Be Green Packaging
· DS Smith
· DuPont
· Evergreen Packaging
· Mondi
· Nampak
· Ball Corp.
· Sealed Air
· Tetra Laval
April 2022: A joint venture agreement was struck by Happiness Moon, Co. Ltd. (Happiness Moon) and Karat Packaging Inc. to build a new factory in Taiwan for making compostable foodservice products from bagasse.
March 2022: To further the business's ambitions for sustainable growth, Mondi invested US$285 million in corrugated packaging.
· Recycled Content Packaging
· Reusable Packaging
· Degradable Packaging
· Plastic
· Paper & Paperboard
· Bagasse
· Bottles & Jars
· Boxes & Cartons
· Cans
· Trays & Clamshells
· Cups & Bowls
· Pouches & Bags
· Films & Wraps
· Labels & Tapes
· Others
· Food & Beverages
· Personal Care
· Healthcare
· Others
· Wholesalers
· Retailers
· Distributors
· Resellers
· Others
· North America
- U.S.
- Canada
· Europe
- Germany
- France
- U.K
- Italy
- Spain
- Rest of Europe
· Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
· Rest of the World
- Middle East
- Africa
- Latin America
Report Scope
|
Report Attribute/Metric |
Details |
|
Market Size 2022 |
USD 89.5 Billion |
|
Market Size 2023 |
USD 95.8 Billion |
|
Market Size 2032 |
USD 167.5 Billion |
|
Compound Annual Growth Rate (CAGR) |
7.30% (2023-2032) |
|
Base Year |
2022 |
|
Market Forecast Period |
2023-2032 |
|
Historical Data |
2018- 2022 |
|
Market Forecast Units |
Value (USD Billion) |
|
Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
Type, Material Type, Packaging Format, Application, Distribution Channel, and Region |
|
Geographies Covered |
North America, Europe, Asia Pacific, and the Rest of the World |
|
Countries Covered |
The U.S., Canada, German, France, U.K, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
|
Amcor, Be Green Packaging, DS Smith, DuPont, Evergreen Packaging, Mondi, Nampak, Ball Corp., Sealed Air, Tetra Laval |
|
|
Key Market Opportunities |
· Environmental concerns |
|
Key Market Dynamics |
· Increased consumer preference toward sustainable packaging materials and expanding demand for recyclable and biodegradable products across various end-user industries |
The global Biodegradable Packaging Market was valued at USD 89.5 billion in 2022, and it is estimated to reach USD 167.5 billion by 2032.
The global market is projected to grow at a CAGR of Biodegradable Packaging Material Market 7.30% during the forecast period, 2023-2032.
North America had the largest share in the global market
The key players in the market are Amcor, Be Green Packaging, DS Smith, DuPont, Evergreen Packaging, Mondi, Nampak, Ball Corp., Sealed Air, Tetra Laval.
The Degradable Packaging Type dominated the market in 2022.
The Paper & Paperboard Material Type had the largest share in the global market.
Report Code :
RL65128
Published on :
Aug 2023
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