Market Research Future (MRFR) has published a “Global Biodegradable Packaging Market”
MRFR recognizes the following companies as the key players in the global Biodegradable Packaging market— Amcor, Be Green Packaging, DS Smith, DuPont, Evergreen Packaging, Mondi, Nampak, Ball Corp., Sealed Air, Tetra Laval
The global biodegradable packaging market is accounted to register a CAGR of 7.20% during the forecast period and is estimated to reach USD 166.9 billion by 2032.
The biodegradable packaging market refers to the production and sale of packaging that are capable of decomposing naturally without harming the environment. Biodegradable packaging are designed to reduce waste and pollution by breaking down into natural elements such as water, carbon dioxide, and biomass.
The main major factors boosting market expansion include an increase in demand for recyclable and biodegradable items across a variety of end-user sectors and a preference among consumers for eco-friendly packaging.
The global Biodegradable Packaging market has been segmented based type, material type, packaging format, application, and distribution channel.
On the basis of type, the market is segmented into recycled content packaging, reusable packaging, and degradable packaging. The degradable packaging segment was attributed to holding the largest market share in 2022.
Based on material type, the global Biodegradable Packaging market has been segmented into plastic, paper & paperboard, and bagasse. The paper & paperboard segment was expected to hold the largest market share in 2022.
Based on packaging format, the global Biodegradable Packaging market has been segmented into bottles & jars, boxes & cartons, cans, trays & clamshells, cups & bowls, pouches & bags, films & wraps, labels & tapes, and others. The boxes & cartons segment was expected to hold the largest market share in 2022.
Based on application, the global Biodegradable Packaging market has been segmented into food & beverages, personal care, healthcare, and others. The food & beverages segment was expected to hold the largest market share in 2022.
Based on distribution channel, the global Biodegradable Packaging market has been segmented into wholesalers, retailers, distributors, resellers, and others. The wholesalers segment was expected to hold the largest market share in 2022.
The global Biodegradable Packaging market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Biodegradable Packaging market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Biodegradable Packaging Material market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Biodegradable Packaging market comprises of Middle East, Africa, and Latin America.
The largest market share for Biodegradable Packaging was maintained by the North American regional sector. The U.S. Food and Drug Administration (FDA), which regulates materials like plastics, papers, etc. to ensure their safety in use, as well as rising consumer awareness of eco-friendly packaging, are expected to drive the market for biodegradable packaging materials.
Moreover, the Europe market has been persistently growing over the forecast period. Positive government regulations and rising consumer awareness of ecologically friendly packaging are predicted to drive the market for biodegradable packaging in Europe.
Additionally, the market for biodegradable packaging in Asia Pacific is anticipated to develop at the quickest rate during the forecast period. Because of the increasing population density, more people are consuming convenient foods and drinks.
Furthermore, the rest of the world's Biodegradable Packaging market is divided into the Middle East, Africa, and Latin America. The Latin America and MEA biodegradable packaging material market is expected to grow significantly in the coming years. The market is driven by factors such as increasing environmental awareness, growing demand for sustainable packaging, and government initiatives to promote the use of eco-friendly products.
Key Findings of the Study