Global Biodegradable Paper & Plastic Packaging Market Size By Material Type, By End-User Industry, By Geographic Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Global Biodegradable Paper & Plastic Packaging Market Size By Material Type, By End-User Industry, By Geographic Scope And Forecast
Biodegradable Paper & Plastic Packaging Market Size And Forecast
Biodegradable Paper & Plastic Packaging Market size was valued at USD 11.4 Billion in 2023 and is projected to reach USD 24.97 Billion by 2030, growing at a CAGR of 9.7% during the forecast period 2024-2030.
Global Biodegradable Paper & Plastic Packaging Market Drivers
The market drivers for the Biodegradable Paper & Plastic Packaging Market can be influenced by various factors. These may include
Environmental Concerns The demand for biodegradable alternatives is being driven by growing knowledge of and concerns about plastic pollution and the environmental effects of packaging materials that are not biodegradable.
Regulatory Pressures The industry is being forced to adopt biodegradable options by strict rules and policies that aim to decrease the use of single-use plastics and encourage sustainable packaging solutions.
Customer Preference The market is moving toward biodegradable solutions as a result of growing customer demand for sustainable and environmentally friendly packaging materials. A large number of customers actively look for goods packaged in an eco-friendly manner.
Corporate Sustainability Initiatives In order to meet customer expectations and stay in line with their environmental responsibilities, businesses are incorporating sustainability into their corporate strategies and implementing biodegradable packaging.
Technological Advancements The production processes and qualities of biodegradable packaging materials are being improved by ongoing research, which is also boosting their cost-effectiveness and performance.
Trash Management By decomposing organically and preventing the buildup of non-recyclable trash, biodegradable packaging provides answers to the problems of waste management and landfill reduction.
Market Expansion There is an increasing need for sustainable packaging solutions due to the growing market for packaged goods, which includes food, drinks, personal care, and household items.
Supportive Supply Chain Biodegradable products, such plant-based plastics (like PLA, or polylactic acid) and paper made from renewable resources, are easier to adopt in a variety of industries when there is a well-established supply chain for them.
Global Biodegradable Paper & Plastic Packaging Market Restraints
Several factors can act as restraints or challenges for the Biodegradable Paper & Plastic Packaging Market. These may include
Cost Challenges Compared to traditional plastics and paper, biodegradable packaging materials frequently have higher production costs, which can reduce their ability to compete on the market.
Performance Restrictions Compared to conventional non-biodegradable packaging, some biodegradable materials may not be as durable, have better barrier qualities, or be as heat resistant. As a result, these materials may not be suitable for all applications.
Limited Raw Material supply The cost and scalability of production may be impacted by the limited or irregular supply of raw materials for biodegradable packaging, such as particular bio-based polymers or fibers.
Technological Restrictions While effective manufacturing techniques and technologies are being developed, production efficiency or scale-up issues may prevent biodegradable materials from being widely used.
Regulatory ambiguity Manufacturers and customers may face ambiguity and complexity as a result of changing and occasionally contradictory legislation pertaining to biodegradable packaging standards, certifications, and terminology.
Customer Acceptance and Awareness Misconceptions or a lack of awareness on the part of the public regarding biodegradable packaging, especially how to dispose of it and its effects on the environment, may hinder its uptake.
Infrastructure Difficulties Appropriate disposal and recycling procedures may be impacted by the fact that the current waste management infrastructure isn’t designed to handle biodegradable packaging.
The Market for non-biodegradable packaging materials is well-established and competitive, which makes the adoption of biodegradable alternatives difficult because of consumers’ familiarity and cost-effectiveness.
Global Biodegradable Paper & Plastic Packaging Market Segmentation Analysis
The Global Biodegradable Paper & Plastic Packaging Market is Segmented on the basis of Material Type, End-User Industry, and Geography.
Biodegradable Paper & Plastic Packaging Market, By Material Type
Biodegradable polymers including starch-based plastics, PLA (polylactic acid), PHA (polyhydroxyalkanoates), and other varieties.
Biodegradable paper Made from renewable resources such as wood pulp, bamboo, or leftover agricultural materials.
Biodegradable Paper & Plastic Packaging Market, By End-User Industry
Food and Beverage Industry Packaging for perishable commodities, fresh produce, beverages, and food items.
Cosmetics and Personal Care Product packaging for makeup, skincare, and other personal care items.
Biodegradable Paper & Plastic Packaging Market, By Geography
North America Market dynamics influenced by factors such as technological advancements, manufacturing practices, and industry standards in the United States and Canada.
Europe Regional variations based on the adoption of metrology technologies, manufacturing trends, and industry regulations across European countries.
Asia-Pacific Growing demand for quality control and manufacturing technologies in countries like China and India, influencing market trends.
Latin America Market dynamics influenced by factors such as industrial growth, economic conditions, and technological advancements in Latin American countries.
Middle East and Africa The market in this region may be shaped by factors like industrial development, infrastructure projects, and regional manufacturing needs.
Key Players
The major players in the Biodegradable Paper & Plastic Packaging Market are
Mondi Group
Amcor plc
Tetra Pak International S.A.
Smurfit Kappa Group
BASF SE
NatureWorks LLC
Huhtamaki Oyj
Stora Enso Oyj
WestRock Company
Novamont S.p.A.
Report Scope
REPORT ATTRIBUTES
DETAILS
Study Period
2020-2030
Base Year
2023
Forecast Period
2024-2030
Historical Period
2020-2022
Unit
Value (USD Billion)
Key Companies Profiled
Mondi Group, Amcor plc, Tetra Pak International S.A., Smurfit Kappa Group, BASF SE, NatureWorks LLC, Huhtamaki Oyj, Stora Enso Oyj, WestRock Company, Novamont S.p.A.
Segments Covered
By Material Type
By End-User Industry
By Geography
Customization Scope
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