Biodegradable Packaging Market Size is Projected To Reach US$ 133.5 Billion by 2028 | Driven by The Growing Demand for Processed Food Items

Biodegradable Packaging Market Size is Projected To Reach US$ 133.5 Billion by 2028 | Driven by The Growing Demand for Processed Food Items
Biodegradable Packaging Market Growth
The increasing awareness among individuals about the harmful impacts of non-biodegradable packaging on health and the escalating consciousness about environmental pollution are positively influencing the market growth

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 Advantages:

Biodegradable packaging represents eco-friendly and recyclable materials packaging materials of goods that are easily disintegrated and decomposed by microorganisms, such as fungi, bacteria, and algae. Some of the common product types include packing corrugated bubble wrap, bioplastics, recycled cardboard, organic fabrics, starch-based plastics, cellulose-based plastics, kraft paper, etc. Biodegradable packaging materials help support human and ecological health by generating less carbon footprint as compared to traditionally utilized synthetic packaging products. They even aid in reducing plastic use, lowering littering issues, and supporting environmental health. As a result, biodegradable packaging products find widespread applications across numerous sectors, including food and beverage (F&B), pharmaceutical, personal care, home care, healthcare, etc.

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Biodegradable Packaging Market Trends and Drivers:

The growing demand for processed and ready-to-eat (RTE) food items, owing to the expanding working population and the busy schedules of individuals, is primarily driving the biodegradable packaging market. Additionally, the increasing awareness among individuals about the harmful impacts of non-biodegradable packaging on health and the escalating consciousness about environmental pollution are also positively influencing the market growth. In line with this, the implementation of stringent policies by government bodies across countries aimed at putting a ban on plastic products and minimizing carbon emissions is acting as another significant growth-inducing factor. Moreover, the emerging trend of online shopping and the thriving e-commerce industry that utilize corrugated boxes to provide doorstep delivery of products is further stimulating the global market. Apart from this, the elevating use the polyhydroxyalkanoates (PHA) in the healthcare segment to produce drug encapsulations and medical implants is anticipated to bolster the biodegradable packaging market in the coming years.

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Biodegradable Packaging Market 2023-2028 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

  • 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
  • Toray Plastics (America) Inc. (Toray Industries Inc).

The report has segmented the market on the basis of 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

 

Key highlights of the report:

  • Market Performance (2017-2022)
  • Market Outlook (2023- 2028)
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape


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