Biodegradable Packaging Market

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: