Biodegradable Packaging Market Size, Share, CAGR & Analysis, Forecast to 2024 - 2031 | BASF SE, Smurfit Kappa Group

The biodegradable packaging market is estimated to be valued at USD 111.55 Bn in 2024 and is expected to reach USD 167.52 Bn by 2031

BURLINGAME, CALIFORNIA, UNITED STATES, July 25, 2024 /EINPresswire.com/ -- Market Overview:

The biodegradable packaging market consists of packaging products that are made from materials that can be decomposed by bacteria or other living organisms. These include packaging made from paper, paperboard, and polylactic acid films used mainly for food packaging and flexible packaging.

Market Dynamics:

Stringent government regulations regarding the use of conventional plastic packaging along with bans on single-use plastics in various countries are expected to drive the growth of the biodegradable packaging market during the forecast period. Many governments are implementing regulations to minimize plastic waste. For instance, the European Union has enforced a directive to ban selected single-use plastic items by 2021.This is expected to boost the demand for biodegradable packaging alternatives such as products made from paper, paperboard, bioplastics instead of petroleum-based plastics. Additionally, growing consumer awareness regarding sustainable packaging and demand for eco-friendly products is also fueling the growth of the biodegradable packaging market. Changing consumer lifestyle and their rising disposable income are increasing the demand for packaged and convenient food and beverages, which in turn is propelling the market growth.

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Biodegradable Packaging Market Drivers

Growing Concerns on Pollution Due to Plastic Packaging

There is a rising concern among consumers, manufacturers and governments across the globe regarding environmental pollution caused by plastic packaging waste. Plastic packaging takes hundreds of years to decompose and contributes significantly to landfill waste. Biodegradable packaging provides a sustainable alternative to mitigate environmental issues related to plastic use. According to research, biodegradable packaging can completely decompose within few months after disposal and does not cause any long-term pollution. The eco-friendly properties of biodegradable materials are encouraging more companies to shift towards sustainable options.

Biodegradable Packaging Market Opportunity

Growth in E-Commerce and Food Delivery Services

E-commerce and online food ordering platforms have grown exponentially over the past few years. surge in doorstep deliveries has boosted the packaging market. However, single-use plastics heavily used for protecting, carrying and transporting products purchased online add to pollution. Biodegradable alternatives like bags, envelopes, containers made from agricultural waste offer a sustainable solution for the packaging needs of booming e-tail and takeaway food sectors. Companies engaged in packaging, logistics and supply chain for online retailers and food aggregators present a massive untapped market for biodegradable vendors.

Biodegradable Packaging Market Trends

Innovation in Material Technology

Continuous innovation is helping to address the key constraints around bioplastics and fueling the market growth. Ongoing research focuses on developing newer biomaterials that can mimic properties of plastics while ensuring environmental viability. For instance, PHA (polyhydroxyalkanoate) bioplastics have emerged as a promising sustainable alternative to PET and polystyrene with comparable performance. Similarly, biodegradable materials derived from agricultural byproducts make packaging affordable. Technological advancements are also revolutionizing the production processes to produce bioplastic at competitive costs. The rising investments in R&D of advanced biomaterials will expand utility and drive wider acceptance of biodegradable packaging.

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Top Companies Featured in This Report:

★ BASF SE
★ Smurfit Kappa Group
★ Mondi Group
★ Rocktenn
★ Stora Enso
★ Clearwater Paper Corporation
★ Amcor
★ Novamont S.P.A.
★ Kruger Inc.
★ Reynolds Group Holding Limited
★ International Corp.
★ Solenis
★ DuPont
★ Ball Corp
★ Novamont
★ Tetra Pak International SA
★ Biopak PTY
★ Imex Packaging
★ Elevate Packaging Inc

Market Segmentation:

By Product Type:

★ By Type: Plastic and Paper
★ By End-Use Industry: Food , Beverage , Pharmaceutical , Personal/Homecare , and Others

Key Regions/Countries Classified as Follows:

» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)

Key Inquiries Addressed in this Report include:

📈 What was the size of the Biodegradable Packaging Market in 2024, and what is the projected value by 2031?

📈 What is the present global market landscape for the Biodegradable Packaging Market?

📈 What strategies offer optimal opportunities for growth maximization in the business?

📈 What recent trends are shaping the Biodegradable Packaging Market?

📈 How does the market share of Biodegradable Packaging Market revenue, sales, and size vary across specific geographical regions?

📈 Who are the prominent industry players in the Biodegradable Packaging Market?

📈 Which segment of the Biodegradable Packaging Market is experiencing heightened demand?

The report also delves into the competitive landscape, key players, trade patterns, industry value chain, recent news, policies, and regulations. Should you have any inquiries or require customization options, please don't hesitate to contact us.

In summary, whether you're engaged in manufacturing, distribution, or investment within the Biodegradable Packaging sector, this report furnishes invaluable insights into market segments, drivers, challenges, investment prospects, regional dynamics, major players, growth strategies, prevailing trends, and hurdles influencing the industry's expansion.

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Author Bio:

Priya Pandey is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement.

(LinkedIn- https://www.linkedin.com/in/priya-pandey-8417a8173/)

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