The global biodegradable packaging materials market is estimated at USD 88 Billion in 2022 and is forecast to surpass USD 169 Billion by 2032, growing at a CAGR of 6.8% from 2022 to 2032.
The global biodegradable packaging materials market accounts for ~9% of global packaging market in 2022 and is expected to expand due to augmented consumer spending on sustainable biodegradable packaging materials because of enhanced environment-consciousness. The global biodegradable packaging materials market is projected to have an absolute $ opportunity of USD 81 Billion during the assessment period of 2022-2032.
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A majority of regulatory bodies and international environmental organizations have proposed a ban on single-use packaging materials to mitigate the perilous effects of non-degradable solid waste on the environment. Increasing environmental awareness and consumer inclination towards making sustainable purchases is providing a major boost to the growth of the biodegradable packaging market.
Positive effects of the ban on single-use packaging on the biodegradable packaging market are offset by stringent labeling regulations and certification procedures to control false claims about the biodegradability of packaging materials. The biodegradable packaging market is characterized by the need to comply with strict quality standards established in various regional markets, which may complicate it for market players to maintain competitive prices of biodegradable packaging solutions.
Competitive Landscape: Top Companies of Biodegradable Packaging Materials Market
The global biodegradable packaging materials market is highly fragmented and competitive owing to the existence of many domestic and regional players. Various marketing strategies are adopted by key players such as mergers and acquisitions, expansions, collaborations and partnerships.
Also, new product development as a strategic approach is adopted by the leading companies to upscale their market presence among consumers. These strategies have resulted in the incorporation of eye-catching biodegradable packaging materials comprising of better functionalities and variants.
Fact.MR has provided detailed information about price points of top manufacturers of biodegradable packaging materials positioned across regions, sales growth, production capacity, and speculative technological expansion in the recently published report.
Key Companies Profiled
- Amcor plc
- Smurfit Kappa
- Sealed Air
- International Paper
- Mondi Group PLC
- WestRock Company
- Tetra Pak International S.A
- DS Smith
- Kruger Inc.
- Toray Plastics (America), Inc.
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Global Biodegradable packaging materials Market by Category
- By Material Type :
- Paper and Paperboards Biodegradable Packaging Materials
- Coated Unbleached Kraft Paperboard
- Bleached Paperboard
- Molded Fiber Pulp Paperboard
- Recycled Paper Paperboard
- Paper and Paperboards Biodegradable Packaging Materials
-
- Plastic Biodegradable Packaging Materials
- Poly Lactic Acid (PLA)
- Polyhydroxybutyrate (PHB)
- Starch Based Plastic
- Fossil Based Polymer (PCL, PBAT, PBS etc.)
- Polyhydroxyalkanoates (PHA)
- Jute Biodegradable Packaging Materials
- Wood Biodegradable Packaging Materials
- Plastic Biodegradable Packaging Materials
- By Application :
- Trays
- Bags
- Boxes
- Clamshells
- Films
- Pouches
- By End-Use Industries :
- Food & Beverage Industry
- Cosmetics and Personal Care Products Industry
- Pharmaceuticals Industry
- Consumer Goods Industry
- By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
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