The global biodegradable packaging market size was valued at USD 92 billion in 2020 and is projected to expand at a substantial CAGR during forecast period, 2021-2028. The growth of the market is attributed to the increasing focus on recyclability and rising government emphasis on efficient packaging management.
Biodegradable material refers to the ability of materials to decompose, reducing negative impact of plastic packaging on environment. According to European bioplastics, biodegradable plastics altogether, including PLA, PHA, and starch blends account for over 53.5% of the global bioplastics production capacities.
The process of biodegradable packaging begins with the material selection, which in turn, decides the overall packaging durability and reliability. Biodegradable packaging is produced using biopolymers, which are molecules that are often found in living organisms such as cellulose and proteins. This results in swift degradation of the packaging material.
The report on the global biodegradable packaging material market includes an assessment of market, trends, segments, and regional market. Overview and dynamics are also included in report.
Attributes |
Details |
Report Title |
Biodegradable Packaging Materials Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year |
2020 |
Historic Data |
2018–2019 |
Forecast Period |
2021–2028 |
Segmentation |
Types (Corrugated Board, Flexible Paper, Boxboard), by Applications (Food Packaging, Beverage Packaging, Electronic Packaging) |
Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players Covered in the Report |
Biopac, Nature Works LLC, BASF SE, Kruger Inc., Mondi Group, Clearwater Paper Corporation |
Based on types, the global biodegradable packaging material market is segmented into corrugated boards, flexible papers, and boxboards. The corrugated boards segment to account for a large market share during the forecast period. Increasing demand for corrugated boards in the logistics industry is driving the segment growth. Moreover, rising use of corrugated boards for the personal/homecare packaging applications is acting as one of the key factors for the growth of corrugated boards segment. Conversely, the boxboards segment is anticipated to exhibit a robust CAGR owing to the increasing usage of boxboards in packaging of pharmaceutical, cosmetics, and frozen products.
Based on applications, the global biodegradable packaging market is segmented into food packaging, beverage packaging, and electronic packaging. The food packaging is expected to hold dominant position in the global biodegradable packaging market. Rising demand for packaged food products is expected to spur the segment growth. Conversely, the electronic packaging segment to exhibit a high CAGR owing to rising manufacturing activities in emerging economies such as India and China.
Based on regions, the global biodegradable packaging material market is segmented into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to act as a potentially lucrative regional market owing to ongoing technological advancements in manufacturing processes. Moreover, growing awareness about biodegradable packaging is driving the market growth in the region. The market in Asia Pacific is expected to exhibit a high CAGR due to the rising adoption of recyclable materials in the food and beverage sector.
The global biodegradable packaging material market has been segmented on the basis of
The major players of the market are Biopac, Nature Works LLC, BASF SE, Kruger Inc., Mondi Group, and Clearwater Paper Corporation.
Companies are engaging in partnerships and investing in R&D activities to expand their market share.
The global biodegradable packaging material market has been segmented on the basis of
The major players of the market are Biopac, Nature Works LLC, BASF SE, Kruger Inc., Mondi Group, and Clearwater Paper Corporation.
Companies are engaging in partnerships and investing in R&D activities to expand their market share.
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