Global Biodegradable Packaging Market was valued at US$ 6.67 Bn in 2019 and is expected to reach US$ 18.27 Bn by 2027, at a CAGR of 13.42% during a forecast period.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Biodegradable Packaging Market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in Biodegradable Packaging Market.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Based on the material type, a paper segment is estimated to hold the largest share in the global biodegradable packaging market during the forecast period. Availability of recyclable paper and easy degradability in nature is driving the global biodegradable packaging market growth in a positive way. The plastic segment is expected to generate the highest CAGR in the global biodegradable packaging market owing to easy availability. On the basis of application, food packaging is projected to boost the global biodegradable packaging market growth owing to the increasing population, growing demand for packaged food, and growing affordability of middle-class population across the globe. Beverage packaging segment is estimated to generate the highest CAGR in the global biodegradable packaging market during the forecast period.
The rising popularity of biodegradable packaging products in a wide variety of industries, due to their low impact on the environment and rising demand for sustainable solutions. Global biodegradable packaging market growth is booming owing to the majority of the materials used in this packaging are natural, which enables native degradation without the need for an external compound, these solutions find huge application in food & beverage industry. Various industries and government bodies have taken initiatives to decrease wastage and utilize proper solutions to counter the environmental impact. Growing innovations are expected to boost the biodegradable packaging market growth during the forecast period. Increasing consciousness regarding the safety of environment among consumers across the globe is surging the biodegradable packaging market growth in a positive way.
Increasing demand for ethically-produced goods among consumers across globally is propelling the global biodegradable packaging market growth. Growing population across the globe is increasing the usage of plastic and paper for packaging among various end-use industries is expected to boost the global biodegradable packaging market growth in the forecast period. Growing food & beverage industries across the globe are also expected to drive the global biodegradable packaging market growth. Various governments’ bodies made strict regulations regarding waste management and safety of the environment is propelling the global biodegradable packaging market growth in a positive way. However, a high cost of biodegradable packaging products compared to traditional packaging products is acting as restraints to the global biodegradable packaging market in the forecast period.
In terms of region, North America is expected to hold the largest share in the global biodegradable packaging market owing to increased consciousness regarding health and environment safety among consumers. The Asia Pacific is also expected to hold the largest share in the global biodegradable packaging market. India and China are anticipated to propel the global biodegradable packaging market growth in the near future. In these countries, government agencies providing funds for promoting biodegradable products. With a heightening in the tendency of consumers towards the utilization of condition well-disposed products is one of the key drivers of the global biodegradable packaging market. In addition, huge investments in the R&D in order to develop innovative products, which could create an opportunity for the companies to gain benefit in the market is fuelling the biodegradable packaging market growth in a positive way. Various manufacturers are present in the market is also boosting the market growth in India and China.
Scope of the Report Biodegradable Packaging Market
Global Biodegradable Packaging Market, by Material Type
• Plastic
• Paper
Global Biodegradable Packaging Market, by Application
• Personal & Home Care
• Food Packaging
• Pharmaceutical Packaging
• Beverage Packaging
• Others
Global Biodegradable Packaging Market, by Region
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
Key Players Operating in Global Biodegradable Packaging Market
• International Paper
• Biopac
• Natureworks LLC
• Stora Enso
• Clearwater Paper Corporation
• Novamont S.P.A
• Georgia-Pacific LLC
• Rocktenn
• Mondi Group
• Smurfit Kappa Group
• Kruger Inc.
• BASF SE.
• Tetra Pak International SA
• Plastic Suppliers Inc.
• Kruger Inc.
• Amcor Limited
• Bemis Company Inc.
• DS Smith PLC
• Klabin SA
• Rengo Co. Ltd
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