Biodegradable Packaging Market growing at a CAGR of 6.7% from 2022-2027
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Throughout the supply chain for a variety of items, the packaging is crucial. It usually works to protect things and make them last longer. The traditional plastic packaging approach has numerous detrimental effects on the environment as well as the quality of delicate products like food. Furthermore, the lengthy decomposition time of such packaging materials results in enormous waste production and subsequent soil degradation. Therefore, it is thought that eco-friendly biodegradable packaging is the best way to address these problems.
By definition, biodegradable refers to any substance that can quickly and easily degrade thanks to the enzymatic activity of microorganisms. Because they have little influence on the environment, biodegradable packaging solutions are finding more and more uses. Moreover, government programs like a ban on plastic and an emphasis on recyclability, together with a rising consumer desire to favor environmentally friendly solutions for sustainability, have significantly increased the market.
Market Dynamics
Due to the employment of cutting-edge manufacturing techniques and technology in the creation of such packaging materials, the market for biodegradable packaging worldwide is expanding. This was done in an effort to make the environment better.
The rapid increase in consumer awareness of eco-friendly products and the growing need for nutritious and secure food products are two additional factors promoting market expansion. The business has recently seen an increase in popularity as a result of the growing need for recyclable materials from a variety of end-use industries, including the pharmaceutical, personal care, and food and beverage industries. Danone has begun producing its yogurt cups using polylactic acid, one of the bio-polymers that several firms are targeting. For its Plant bottles, The Coca-Cola Corporation employs bio-based plastics.
The aforesaid factors have resulted in significant market value, as have measures from various governments to emphasize the use of biodegradable packaging. For instance, the European Union government resolved to take measures in April 2015 to reduce the use and consumption of plastic bags with a thickness of fewer than 50 microns. While some governments, like those in Germany and Denmark, have heavily taxed plastic packaging, others, like those in Italy, have outright prohibited its sale.
The paucity of bio-plastic and other necessary raw materials for the manufacture of biodegradable packaging may significantly restrain the market's expansion.
Segmentation Summary
By Material Segment
In 2020, the paper segment dominated the global biodegradable packaging industry and is forecast to remain dominant over the coming years due to growing utilization and high adoption of flexible and corrugated materials for homecare or personal packaging usage. Paper packaging is being utilized more frequently as a result of enhanced functionality like waterproofing provided by laminates and coatings. The paper has been used widely in baking and food service products.
By Application Segment
In 2019, the food packaging segment dominated the global biodegradable packaging industry accounting for about 70% of revenue share, and is likely to project the highest annual growth rate. The spike in consumer demand brought on by the goods' better features, cost-effectiveness, and convenience has affected segment growth. Also, as a healthier and better alternative, the food packaging industry is focusing on bio-plastics composed of starch or PLA for its packaging material.
Regional Insights
North America was the maximum shareholder region in the global biodegradable packaging industry. Rising consumer awareness and helpful government laws are to blame for this. For instance, the Canadian government has set up several recycling infrastructures to promote recycling throughout the nation. In order to reduce solid waste disposal by 2040, Canada placed a significant ban on the use of polystyrene cups and containers in Vancouver in 2019. Also, a lot of international food chains, including McDonald's and many others, are planning to use only sustainable packaging by the end of the forecast period, creating a big demand.
On the flip side, Europe will maintain the highest growth rate because the European Union and other European countries have placed tight limitations on the use of single-use plastics. The European Directive introduced the idea of the circular economy while establishing sustainability goals and standards. European firms are following the circular economy roadmap by incorporating recyclable, recycled, and biodegradable products.
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Leading Competitors
Some of the well-established competitors in the global biodegradable packaging market are:
Tetra Pak International
Smurfit Kappa
BASF SE
Sealed Air Corporation
Clearwater Paper Corporation
Rocktenn
Amcor
Mondi Group
Reynolds Group Holding Limited
International Corp
Novamont S.P.A.
Kruger Inc.
Other Prominent Players
Segmentation Outline
The global biodegradable packaging market segmentation focuses on Material, Application, and Region.
By Material
Plastic
o Starch-Based Plastics
o Cellulose-Based Plastics
o Polylactic Acid (PLA)
o Poly-3-Hydroxybutyrate (PHB)
o Polyhydroxyalkanoates (PHA)
o Other Plastics
Paper
o Kraft Paper
o Flexible Paper
o Corrugated Fibreboard
o Boxboard
By Application
Food Packaging
Beverage Packaging
Pharmaceuticals Packaging
Personal and Homecare Packaging
Others
By Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
South Korea
ASEAN
Rest of Asia Pacific
Middle East & Africa
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Argentina
Brazil
Rest of South America
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