Global Biodegradable Composite Cans Market Expected to Reach USD 2,083.3 Million by 2031

According to a recent market study published by Growth Market Reports, titled, "Global Biodegradable Composite Cans Market, By Can Diameter (Less than 50 mm, 50 mm-100 mm, and Above 100 mm), By Cans Type ( Caps and Lids ), By Production Type (Spiral Winding, Convolute Winding, and Linear Draw), By End Use Industry (Food, Beverage, Pharmaceutical, Personal Care & Cosmetics, Consumer Goods, and Others), By Distribution Channel (B2B and B2C) and Region (North America, Asia Pacific, Europe, Latin America, and Middle East & Africa): Size, Share, Trends, and Opportunity Analysis, 2016-2031”, the market was valued at USD 1,369.8 Million in 2022 and is projected to expand at a growth rate of 4.9% by 2031.

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As per Growth Market Reports industry analyst, Anupama Kumari, the global biodegradable composite cans market is anticipated to register significant growth during the forecast period, 2023-2031. Biodegradable composite cans are cylindrical containers with two ends and a cover composed of paper, boards, and kraft paper. The packaging of biodegradable composite cans has excellent waterproof & moisture-proof effects and has very good sealing properties, effectively preventing contact between the outside air and the product and preventing the product from moisture. These cans are convolute-wound, spiral-wound, or linear-draw with one or both end closures permanently affixed. While paper, which is either kraft paperboard or recycled paperboard, is the primary component of the canister body, the total construction of the package involves several layers of material, often including alu-foil and plastics in various combinations with one or both end closures permanently affixed, to give it its strength.

Increased demand for online food delivery products such as coffee, cereals, nuts, snacks, powdered drinks, and others are driving the biodegradable composite cans market. It maintains flavor and freshness that increase shelf life of the product.

Biodegradable composite cans are used in the pharmaceutical industry to store pills, dietary supplements, and powdered medications. The moisture-resistant properties of the containers help maintain the efficiency of the contents, hence the contents are delivered over long distances.

Growth in the usage of the biodegradable composite cans in the personal care and cosmetics industry for packaging goods such as hair care products, lotions, creams, and powders is anticipated to drive the demand during the forecast period, as such packaging is safe throughout handling and transportation.

On the basis of diameter, the market is segmented into less than 50 mm, 50 mm-100 mm and above 100 mm. The 50mm-100mm segment held a significant share of the market in 2022, as this diameter of biodegradable composite cans are lightweight, and consumers are able to carry them easily.       

By closure type, the biodegradable composite can market is differentiated into caps and leads. The cap segment is expected to expand at a significant CAGR, as caps of biodegradable composite cans are reusable that makes them cost effective.

By production type, the market is classified into spiral winding, convolute winding, and linear draw. The spiral winding consists of four layers of material that are diagonally wound and followed to manufacture. The construction involves two middle layers that are usually paper board and the bottom layer is usually tin or foil. The increasing application of spiral winding in various industries such as food and beverage is driving the segment.

In terms of end used industry, the market is fragmented into food, beverage, pharmaceutical, personal care & cosmetics, consumer goods, and others. The food segment is anticipated to hold a significant share of the market in 2031, due to the growing uses of eco-friendly and cost-effective packaging solution in the industry.

Based on distribution channel, the market is segmented into B2B and B2C. The B2B segment held a significant share of the market in 2022. This is attributed to the growing demand from the food and pharmaceutical industries for packaging of medicines and snacks.

Primary and secondary research methodology is used for keen observation and study of the biodegradable composite cans market. Primary research methodology involves commercial agreements made with the primary respondents as well as consulting partners to extract critical information pertaining to the syndicated as well as consulting projects. Primary interviews were conducted with the stakeholders across industry verticals at regular intervals in line with the ongoing studies to stay updated with the latest market trends & developments. Validation of the estimated market size, and current and future trends is done by the key opinion leaders (KOLs). These KOLs are the CXO level people from key companies in the market and possess experience of around 10-20 years in the market. Secondary research methodology involves exhaustive desk research undertaken to understand the prevailing market trends & dynamics, market competition, customer insights, and other KPIs. Company websites, their SEC filings, annual reports, broker & financial reports, and investor presentations are scanned for understanding the competitive scenario, details, developments, and the overall competitive landscape. Regional government and statistical databases were analyzed for macro & microanalysis. Research publications and paid data are referred to obtain and validate the market estimations, budget, expenditure, and other statistical insights.

The outbreak of coronavirus disease in 2019 (COVID-19) restrained the global economy, created global interdependence, and challenged the governments of various nations. The pandemic raised concerns among economies and businesses by shifting focus to the online supply of consumer electronic gadgets and automotive components, creating manufacturing issues.

In January 2020, the WHO labeled the COVID-19 outbreak as a public health emergency of global concern and proclaimed it as a global pandemic in March 2020. This deadly virus has become one of the biggest pandemics in human history. The COVID-19 outbreak is a public health emergency that affected almost every industry. The long-term effects of the pandemic are expected to affect the growth of various industries during the forecast period, especially across Eastern Europe, European Union, the US, and Eastern & Central Asia.

As of November 11, 2023, this pandemic had infected over 697,242,234 people, and over 6,933,514 people died from the disease. COVID-19 cases have been registered in more than 231 countries and territories. Many countries are economically weak, while others have poor healthcare systems that affect the economy and life of people.

Key Takeaways from the Study:

• Key players in the market include Compocan Industries, Om Compocan & Packaging, Canfab Packaging Inc., Bharath Paper Conversions, Kama Encore Packaging Solutions Private Limited, Trishul Containers, S.K. Packaging Industries, Govinddevji Packaging LLP, Ace Paper Board, Konkan Paper Products, Smurfit Kappa, Sonoco, and WestRock Company.

Report Scope:

Target Audience:

• Supply-side: Raw material suppliers and manufacturers

• Demand Side: Biodegradable composite manufacturing companies

• Regulatory Side: Concerned government authorities and other regulatory bodies.