Global Biodegradable Packaging Market

Global Biodegradable Packaging Market Size, Share, Growth Analysis, By Material Type(Plastic, Paper), By Application(Food Packaging, Beverage Packaging) - Industry Forecast 2024-2031

Report ID: SQMIG15H2053 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 64 | Figures: 75

Global Biodegradable Packaging Market News

  • In March 2023, The European Union (EU) announced a ban on single-use plastics, including plastic packaging. This is expected to boost the demand for biodegradable packaging in the EU.
  • In February 2023, The United States (US) government announced a goal of reducing plastic waste by 50% by 2030. This is expected to boost the demand for biodegradable packaging in the US.
  • In January 2023, The World Economic Forum (WEF) released a report calling for a global shift to sustainable packaging. This is expected to boost the demand for biodegradable packaging around the world.
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Biodegradable Packaging Market size was valued at USD 88.40 Billion in 2021 and is poised to grow from USD 93.70 Billion in 2022 to USD 149.35 Billion by 2030, at a CAGR of 6% during the forecast period (2023-2030).

The global biodegradable packaging market is driven by a commitment to sustainability, technological advancements, and a focus on meeting the increasing consumer demand for eco-friendly alternatives. The market landscape is diverse and dynamic, with numerous companies competing to offer innovative and sustainable packaging solutions. As the market continues to evolve, key players are expected to leverage their expertise and resources to introduce novel biodegradable packaging solutions, further fueling the growth of this environmentally responsible sector. 'NatureWorks LLC (US)', 'BASF SE (Germany)', 'Biopac (UK) Ltd. (UK)', 'Mondi Group (Austria)', 'Smurfit Kappa Group (Ireland)', 'Amcor plc (Australia)', 'Novamont S.p.A. (Italy)', 'Tetra Pak International S.A. (Switzerland)', 'Stora Enso Oyj (Finland)', 'Huhtamaki Group (Finland)', 'International Paper Company (US)', 'DS Smith plc (UK)', 'WestRock Company (US)', 'Georgia-Pacific LLC (US)', 'Kruger Inc. (Canada)', 'Sealed Air Corporation (US)', 'Be Green Packaging LLC (US)', 'Smurfit Kappa (Ireland)', 'Amcor Flexibles LLC (US)', 'Eco-Products, Inc. (US)'

The growing awareness of environmental issues and the adverse effects of plastic pollution have been a significant driver of the biodegradable packaging market. Consumers are becoming more conscious of their environmental footprint and seeking products and packaging solutions that align with their sustainability values. As a result, the demand for biodegradable packaging has surged, motivating businesses to adopt eco-friendly alternatives to meet consumer preferences.

Focus on Sustainable Packaging Strategies: One key trend in the biodegradable packaging market is the increasing focus on sustainable packaging strategies by businesses across various industries. Companies are actively seeking ways to reduce their environmental impact and are incorporating biodegradable packaging as part of their sustainability initiatives. The integration of biodegradable materials in packaging strategies has become a hallmark of responsible and environmentally conscious brands.

North America is currently the dominating region in the global biodegradable packaging market, followed by Europe and the Asia Pacific. This can be attributed to the increasing demand for sustainable packaging solutions from various end-use industries in these regions. For example, in North America, the demand for biodegradable packaging is driven by the growing awareness among consumers regarding the environmental impact of traditional packaging materials, as well as by the stringent regulations imposed by the government on the use of non-biodegradable packaging.

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Global Biodegradable Packaging Market

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