Biodegradable Packaging Market Scope
The global Biodegradable Packaging market is expected to witness high demand due to rising consumer awareness regarding the environmental impact of packaging products and a willingness to replace packaging materials by alternatives with a lower carbon footprint. Biodegradable packaging solutions are increasingly finding applications in a wide variety of industries due to their low environmental impact and high demand.
The market study is being classified by Type (Plastic [Starch-Based Plastics, Cellulose-Based Plastics, Polylactic Acid (PLA), Polyhydroxyalkanoates (PHA), Other] and Paper), by Application (Food & Beverage, Pharmaceutical & Biomedical, Home Care Packaging, Cosmetics and Others) and major geographies with country level break-up. According to AMA, the Global Biodegradable Packaging market is expected to see growth rate of 6.1% and may see market size of USD120.0 Billion by 2024.
The biodegradable packaging market is highly fragmented in nature. The key players mainly strive towards developing new technologies to manufacture biodegradable packaging material from various easily available natural resources. There are also huge investments in the research and development in order to develop innovative products which in turn would help the companies to gain a competitive advantage in the market. Research Analyst at AMA predicts that United States Manufacturers will contribute to the maximum growth of Global Biodegradable Packaging market throughout the predicted period.
Tetra Pak International SA (Sweden), Plastic Suppliers Inc. (United States), Amcor Limited (Australia), Bemis Company Inc. (United States), BASF SE (Germany), Biopac (UK) Ltd. (United Kingdom), Clearwater Paper Corporation (United States), Georgia-Pacific LLC (United States), International Paper Co. (United States) and Kruger Inc. (Canada) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are Mondi Ltd. (South Africa), NatureWorks LLC (United States), Novamont S.p.A. (Italy), Smurfit Kappa Group PLC (Ireland), Stora Enso Oyj (Finland), WestRock Company (United States), DS Smith PLC (United Kingdom), Klabin SA (Brazil) and Rengo Co. Ltd (Japan).
AdvanceMarketAnalytics has segmented the market of Global Biodegradable Packaging market by Type, Application and Region.
On the basis of geography, the market of Biodegradable Packaging has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2018. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Market Leaders and their expansionary development strategies
On 16th July 2019, Tetra Pak has announced that customers have started field-testing its paper straws for beverage products in Europe. The move means Tetra Pak is the first carton packaging company to provide such straws for beverage cartons in the region.
On 5th April 2018, Tetra Pak launched a suite of new packaging materials, known as Tetra Pak Artistry, to help food and beverage producers revitalize the look and feel of its products.
- Government Support For the Biodegradable Packaging
- Rising Awareness among The Consumers
- Growing Conscientious Population
- Increasing Demand due to Advanced and Efficient Packaging
- Growing Food & Beverage Industries across the Globe
- Emerging Demand for Eco-Friendly Packaging across the WOrld
- Lack of Supply of Bio-plastics and Related Materials
- Growing Investments for Non-biodegradable and Recyclable Packaging Solutions
Key Target AudienceBiodegradable Packaging Providers, Biodegradable Packaging Manufactures, Biodegradable Packaging Suppliers, Government Regulatory Bodies, Government Research Organizations, Private Research Organizations and Others
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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