Biodegradable Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Biodegradable Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Report Format: PDF+Excel | Report ID: SR112023A6358
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Market Overview:

The global biodegradable packaging market size reached US$ 95.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 133.5 Billion by 2028, exhibiting a growth rate (CAGR) of 5.59% during 2023-2028.

Biodegradable packaging refers to the use of eco-friendly and recyclable materials for the packaging of goods. It is made from materials that are easily disintegrated and decomposed by microorganisms, such as bacteria, fungi, and algae. It includes packing corrugated bubble wrap, recycled cardboard, bioplastics, organic fabrics, cornstarch, seaweed, and mushroom packaging, and other plant-based materials. It helps support human and ecological health by generating less carbon footprint as compared to conventionally used synthetic packaging products. It also aids in minimizing plastic usage, which can help reduce littering issues and support environmental health.

Biodegradable Packaging Market Trends:

The increasing working population and busy schedules of individuals are catalyzing the demand for processed and ready-to-eat (RTE) food items, which is driving the need for effective packaging across the globe. In addition, the increasing use of biodegradable packaging in the food and beverage (F&B) industry due to its faster decomposition and recyclable properties is creating a positive market outlook. Apart from this, the rising awareness among individuals about the harmful impacts of non-biodegradable packaging on the health and the environment is positively influencing the market. In line with this, governments of various countries are imposing stringent regulations to put a ban on plastic products and minimize carbon emissions, which is encouraging the adoption of biodegradable packaging. Furthermore, the emerging trend of online shopping, along with the thriving e-commerce industry, is catalyzing the demand for biodegradable packaging to provide doorstep delivery of products. Additionally, various technological advancements in the packaging industry and increasing investments by leading market players in research and development (R&D) activities are expected to propel market growth in the coming years.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global biodegradable packaging market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on material type and application.

Breakup by Material Type:

  • Plastic
    • Starch-based Plastics
    • Cellulose-based Plastics
    • Polylactic Acid (PLA)
    • Poly-3-Hydroxybutyrate (PHB)
    • Polyhydroxyalkanoates (PHA)
    • Others
  • Paper
    • Kraft Paper
    • Flexible Paper
    • Corrugated Fiberboard
    • Boxboard
       

Breakup by Application:

  • Food Packaging
  • Beverage Packaging
  • Pharmaceutical Packaging
  • Personal/Homecare Packaging
  • Others
     

Breakup by Region:

  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Amcor PLC, Berkley International Packaging Limited, Biopak PTY LTD, Elevate Packaging Inc., Greenpack Limited, International Paper Company, Kruger Inc., Mondi Group, Ranpak Holding Corporation, Smurfit Kappa Group PLC, Tetra Pak International SA and Toray Plastics (America) Inc. (Toray Industries Inc).

Report Coverage:

Report Features Details
Base Year of the Analysis 2022
Historical Period 2017-2022
Forecast Period 2023-2028
Units US$ Billion
Segment Coverage Material Type, Application, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Amcor PLC, Berkley International Packaging Limited, Biopak PTY LTD, Elevate Packaging Inc., Greenpack Limited, International Paper Company, Kruger Inc., Mondi Group, Ranpak Holding Corporation, Smurfit Kappa Group PLC, Tetra Pak International SA and Toray Plastics (America) Inc. (Toray Industries Inc)
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report

The global biodegradable packaging market was valued at US$ 95.4 Billion in 2022.

We expect the global biodegradable packaging market to exhibit a CAGR of 5.59% during 2023-2028.

The rising demand for biodegradable packaging, as it helps in supporting human and ecological health by generating less carbon footprint than conventionally used synthetic packaging products, is primarily driving the global biodegradable packaging market.

The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary halt in numerous production activities for biodegradable packaging.

Based on the material type, the global biodegradable packaging market has been divided into plastic and paper. Currently, paper exhibits a clear dominance in the market.

Based on the application, the global biodegradable packaging market can be categorized into food packaging, beverage packaging, pharmaceutical packaging, personal/homecare packaging, and others. Among these, food packaging accounts for the largest market share.

On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Europe currently dominates the global market.

Some of the major players in the global biodegradable packaging market include Amcor PLC, Berkley International Packaging Limited, Biopak PTY LTD, Elevate Packaging Inc., Greenpack Limited, International Paper Company, Kruger Inc., Mondi Group, Ranpak Holding Corporation, Smurfit Kappa Group PLC, Tetra Pak International SA, and Toray Plastics (America) Inc. (Toray Industries Inc).

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Biodegradable Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
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