The Biodegrable Packaging market is anticipated to grow with a high CAGR over the forecast period of 2019-2028. Biodegradable packaging is significantly produced using biopolymers. Biopolymers are molecules that are often found in living organisms and are obtained from cellulose and protein. These factors contribute to safe consumption as well as it degrades quickly. Such packagings can also be created from waste plant products. Biodegradable packaging is a very promising alternative to plastic that helps alleviate the long term issues presented by excessive plastic usage. Another major advantage of biodegradable packaging is that they are not toxic to natural environments or humans. This factor makes them much easier to dispose of, and they do not build up over time as plastics do. The rising technological advancements in biodegradable material, increasing demand to control pollution, and rising adoption of various industries, including food and beverages, cosmetics, etc. have anticipated the market growth widely in the forecast period.

Top Driver: Increasing Adoption of Biodegradable Products by Various Industries to Anticipate the Market Immensely

The rising adoption of the biodegradable packaging industry is expected to drive the market immensely in the future. Various industries such as the food and beverage industry, home care, pharmaceuticals, etc. are inclining towards biodegradable packaging options to avoid environmental problems associated with the non-biodegradable materials. Furthermore, strict government regulations regarding the use of non-biodegradable material are also expected to anticipate market growth widely. The focus of the government to produce a noncarbon economy in various regions is further fueling the market growth.

The Platics Segment Accounted For the Largest Market Share

Based on type, the market is segmented into plastics and biodegradable matials. The plastic segment accounted for a large market owing to its high usage in various industries. The use of biodegradable plastic has triggered the market owing to its plastic-like properties, which makes it extremely feasible for use in packaging. The biodegradable paper segment is expected to drive the market immensely in the future since its wide adoption. On the basis of type, the market is segmented into trays, bags, boxes, clamshells, films, pouches. The boxes and bags segments are witnessed to be the fastest-growing segment in the market.

Asia Pacific to Witness the Fastest Growth in the Market

North America is accounted for the largest market share and is expected to fuel the market in the future. Such a high share is attributed to the stringent government rule for disposing of packaging material and growing environmental pollution in the region. The Asia Pacific region witnessed huge growth and is expected to be the fastest-growing region owing to the increasing industrial setups in the region and rising awareness about biodegradable materials.

Players to Focus on New Product Development

The global Biodegrable Packaging market is expected to grow with a significant CAGR due to presence of various companies including   Smurfit Kappa UK Ltd., International Paper Company, WestRock Company,  Mondi Limited, DS Smith PLC, Tetra Pak International S.A, Amcor Limited, Stora Enso Oyj, Toray Industries, Inc., Kruger Inc.  ,  and others which are developing new products to drive the market growth.

Scope of the Report

By Type

• Plastic
  • Polylactic Acid (PLA)
  • Starch Based plastic
  • Cellulose Based Plastics
  • Polyhydroxyalkanoates (PHA)
  • Others
• Paper
  • Coated Unbleached Kraft Paperboard
  • Bleached Paperboard
  • Molded Fiber Pulp
  • Recycled Paper
  • Others

By Material

• trays
• bags
• boxes
• clamshells
• films
• pouches

By Region

• North America
• Europe
• Asia Pacific
• Rest of the World

Key Reasons to Purchase this Report

1. It provides a technological development map over time to understand the growth rate of the industry.
2. The report offers a dynamic method to various factors that drive or restrain the growth of the market.
3. It renders definite analysis for changing competitive dynamics.
4. It builds a seven-year estimate based on how the market is predicted to grow.