Biodegradable Paper and Plastic Packaging Market
Global Biodegradable Paper and Plastic Packaging Market Size Expands at CAGR of 9.03% to Reach USD 24.98 Billion by 2030
Published | 23 January 2024
Global Biodegradable Paper and Plastic Packaging Market is flourishing due to the growing environmental concerns, rising consumer disposable income, and growing awareness of the health benefits of biodegradable packaging.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Global Biodegradable Paper and Plastic Packaging Market size at USD 14.87 billion in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the Global Biodegradable Paper and Plastic Packaging Market size to expand at a CAGR of 9.03% reaching a value of USD 24.98 billion by 2030. The Global Biodegradable Paper and Plastic Packaging Market is propelled by the increasingly expanding global food industry driving the for sustainable packaging materials and solutions. Also, the growing awareness about the adverse effects associated with non-biodegradable plastics is leading to a rising demand for sustainable packaging solutions. This upward trend is a clear indication of the escalating importance and adoption of eco-friendly packaging in response to the increasing global focus on environmental sustainability. The extensive uptake of biodegradable plastic and paper in packaging across diverse industries primarily stems from their array of features, including biodegradability, recyclability, versatility, ready availability, and lightweight properties. Natural processes, such as microbial action, sunlight exposure, and moisture, facilitate the breakdown of biodegradable plastic and paper into simpler substances that align with the ecosystem. Another driving force is the increasing utilization of biodegradable plastic and paper underscores the rising recognition and appreciation for their eco-friendly attributes, aligning with the growing emphasis on sustainability in packaging practices across industries. Hence, such aspects are expected to boost the expansion of the Global Biodegradable Paper and Plastic Packaging Market during the forecast period.
Opportunity – Development and launch of innovative products and technologies
Growing technological advancements are creating lucrative opportunities for the stakeholders in the Global Biodegradable Paper and Plastic Packaging Market. These advancements facilitate the development of new and improved biodegradable materials with enhanced properties such as increased strength, durability, and flexibility. These materials find applications across various industries. Additionally, technological progress in waste management and recycling processes contributes to the establishment of sustainable end-of-life solutions. The demand for biodegradable paper and plastics is expected to rise in emerging BRICS economies, driven by the growth of electronic, food and beverage packaging industries. Changing lifestyle patterns, particularly the increased demand for packaged food products, are anticipated to drive growth in the food and beverage industry. The expanding pharmaceuticals packaging sector will also contribute to the market's growth. Technological advancements in distribution, sales channels, and manufacturing processes are predicted to expand the biodegradable paper and plastics market during the forecast period.
Impact of Escalating Geopolitical Tensions on Global Biodegradable Paper and Plastic Packaging Market
The Global Biodegradable Paper and Plastic Packaging Market is impacted by geopolitical tensions in several ways. The war disrupted global supply chains, particularly in the chemicals and plastics industries, as both Russia and Ukraine played key roles in petrochemical and plastic production. This disruption led to a shortage of raw materials, including those crucial for biodegradable plastics. Consequently, the supply chain disruption caused a surge in prices for key raw materials, affecting the production costs of biodegradable packaging materials and putting pressure on market pricing. Despite these challenges, the situation highlights the importance of diversifying supply chains and investing in sustainable materials. As businesses navigate these challenges, there is an opportunity for innovation in biodegradable products, aligning with the increasing global emphasis on sustainability.
Global Biodegradable Paper and Plastic Packaging Market
Global Biodegradable Paper and Plastic Packaging Market – By End User
By end user, the Global Biodegradable Paper and Plastic Packaging Market is divided into Food & Beverages, Catering Service Wares, Personal & Home Care, and Healthcare segments. The food & beverages segment is expected to hold the highest share in the Global Biodegradable Paper and Plastic Packaging Market by end user during the forecast period. It is primarily driven by an increased emphasis on brand image and a growing demand for sustainable packaging. Companies in the food and beverages industry are actively adopting green packaging practices to minimize their environmental impact. The incorporation of biodegradable packaging not only attracts environmentally conscious consumers but also extends their brand outreach. In the realm of food processing, there is a strong inclination toward paper-based packaging, particularly paperboard containers, for packaging dry products. Also, the market is expected to be propelled by the increasing demand for ready-to-eat and packaged food, the expansion of online food delivery services, and continuous innovations in packaging solutions.
Global Biodegradable Paper and Plastic Packaging Market – By Region
The in-depth research report on the Global Biodegradable Paper and Plastic Packaging Market covers the market in a number of major countries across five regions: North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The Asia Pacific region holds the highest share in the Global Biodegradable Paper and Plastic Packaging Market. Its dominance is attributed to the rapid growth in population and economic development. This growth has led to increased consumption of various consumer goods, driving a substantial demand for biodegradable packaging. The heightened environmental awareness among individuals, coupled with growing concerns about plastic pollution in the region, has prompted a shift towards sustainable practices. As a result, both consumers and businesses are increasingly mindful of their ecological impact, leading to a rising demand for environmentally friendly packaging solutions. Meanwhile, the North America region is expected to witness the fastest growth rate during the forecast period. It is primarily due to an increasing demand for biodegradable packaging and advancements in packaging technology. Consumers in North America are actively searching for products and packaging options that prioritize sustainability. Renowned for technological innovation and research and development, North America is making substantial investments in the advancement of biodegradable materials and packaging technologies. This commitment results in the production of high-quality, cost-effective, and innovative biodegradable packaging solutions.
The Global Biodegradable Paper and Plastic Packaging Market is fragmented, with numerous players serving the market. The key players dominating the Global Biodegradable Paper and Plastic Packaging Market include Amcor plc, International Paper, Mondi PLC, Smurfit Kappa, DS Smith, Klabin SA, Rengo Co., Ltd, Özsoy Plastik, Ultra Green Sustainable Packaging, and Hosgör Plastik. The key marketing strategies adopted by the players are facility expansion, product diversification, alliances, collaborations, partnerships, and acquisitions to expand their customer reach and gain a competitive edge in the overall market.
The report's in-depth analysis provides information about growth potential, upcoming trends, and the Global Biodegradable Paper and Plastic Packaging Market statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Global Biodegradable Paper and Plastic Packaging Market along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
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- Biodegradable Paper and Plastic Packaging Market - Global Size, Share, Trend Analysis, Opportunity and Forecast Report, 2019–2030, Segmented By Type (Starch-based plastic, Cellulose-based Plastics, Polylactic Acid (PLA), Polyhydroxyalkanoates (PHA)); By Material (Plastic, Paper); By End User (Food & Beverages, Catering Service Wares, Personal & Home Care, Healthcare); By Region (North America, Europe, Asia Pacific (APAC), Latin America (LATAM), Middle East and Africa (MEA))
Publish Date: January 2024
Growing environmental concerns, rising consumer disposable income, and growing awareness about the ecological benefits of biodegradable packaging are expected to drive the Global Biodegradable Paper and Plastic Packaging Market during the forecast period between 2024 and 2030.
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