USD 88.40 Billion
Biodegradable Packaging Market Size, Share, Growth Analysis, By Material Type(Plastic, Paper), By Application(Food Packaging, Beverage Packaging, Pharmaceutical Packaging, Personal/Homecare Packaging), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15H2053 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
64
|Figures:
75
Biodegradable Packaging Market Insights
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 a rapidly growing segment within the broader packaging industry, characterized by the increasing demand for environmentally friendly and sustainable packaging solutions. Biodegradable packaging refers to materials that can decompose naturally through biological processes, reducing their environmental impact and contributing to waste reduction. As businesses and consumers become more environmentally conscious, the market for biodegradable packaging has gained significant traction as a viable alternative to traditional non-biodegradable materials. The primary purpose of the global biodegradable packaging market is to address the growing concerns surrounding plastic pollution and its detrimental effects on the environment. Biodegradable packaging aims to provide eco-friendly solutions that can minimize waste, decrease reliance on fossil fuels, and reduce greenhouse gas emissions associated with the production and disposal of conventional plastics. By promoting the use of biodegradable materials in packaging, the market endeavors to create a more sustainable and circular economy, aligning with global efforts towards environmental conservation and sustainability.
The increasing awareness of environmental issues and the need for sustainable practices is a major driving factor behind the growth of the biodegradable packaging market. Consumers are increasingly demanding eco-friendly packaging options, and businesses are recognizing the importance of adopting environmentally responsible practices to enhance their brand image and meet consumer expectations. Government regulations and initiatives that promote the use of biodegradable packaging materials are also driving market growth, as policymakers aim to curb plastic waste and encourage the adoption of greener alternatives. While the demand for biodegradable packaging is on the rise, several restraining factors pose challenges to the market's growth.
One significant factor is the higher cost of biodegradable materials compared to conventional plastics, making it a less economically viable option for some businesses, particularly small and medium-sized enterprises. Additionally, there may be limitations in the availability and scalability of biodegradable packaging materials, impacting the mass adoption across various industries. Technological challenges in developing biodegradable materials with suitable properties for different packaging applications also hinder the market's expansion. The global biodegradable packaging market faces challenges related to consumer awareness and understanding of the benefits of such packaging solutions. Educating consumers about the importance of choosing biodegradable options over conventional plastics can be a significant hurdle. Additionally, the lack of standardized definitions and regulations for biodegradable packaging in some regions creates confusion and may lead to the misuse or misrepresentation of biodegradable claims by certain products, affecting consumer trust and market credibility. The market for biodegradable packaging presents numerous opportunities for innovation and research and development.
Advancements in biodegradable materials, such as bio-based plastics and plant-based fibers, offer the potential for more sustainable and high-performance packaging solutions. Collaborations between packaging manufacturers, research institutions, and governments can drive innovation and address technical challenges, fostering the growth of the biodegradable packaging market. Moreover, increasing consumer awareness and support for environmentally friendly products open up opportunities for businesses to differentiate themselves and gain a competitive advantage by offering biodegradable packaging options.
US Biodegradable Packaging Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Plastic
Fastest Growth
Plastic
Growth Rate
6% CAGR
Global Biodegradable Packaging Market ($ Bn)
Country Share for North America Region (%)
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Biodegradable Packaging Market Segmental Analysis
The global biodegradable packaging market is segmented on the basis of material type, application, and region. By material type, the market is segmented into plastic, and paper. By application, the market is segmented into food packaging, beverage packaging, pharmaceutical packaging, personal/homecare packaging, and other applications. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Biodegradable Packaging Market Analysis by Material Type
The largest segment, biodegradable plastic packaging, holds a substantial market share due to its versatility and widespread application across various industries. Biodegradable plastics offer an effective alternative to traditional non-biodegradable plastics, mitigating the adverse environmental impact caused by plastic waste. With a rapid growth rate, this segment has gained immense popularity as businesses and consumers embrace greener packaging solutions. Biodegradable plastic packaging boasts exceptional characteristics, such as lightweight, durability, and compatibility with existing packaging machinery, making it an attractive option for companies looking to transition towards sustainability without compromising on performance.
The fastest-growing segment in the biodegradable packaging market is biodegradable paper packaging. Leveraging the natural renewability and recyclability of paper materials, this segment has witnessed exponential growth in recent years. Biodegradable paper packaging offers a compelling proposition to environmentally conscious consumers seeking sustainable alternatives. The eco-friendly appeal of paper packaging, coupled with its ability to provide a premium and tactile experience, has garnered significant attention from businesses seeking to establish a strong eco-friendly brand identity. Moreover, advancements in technology have enabled the development of innovative paper-based packaging solutions, reinforcing its position as the fastest-growing segment in the market.
Biodegradable Packaging Market Analysis by Application
Food packaging takes the lead as the largest and most prominent sector, accounting for a significant share of the market. The demand for biodegradable food packaging has surged as consumers increasingly prioritize eco-friendly options that preserve the freshness and quality of their favorite foods while reducing plastic waste. With the food industry embracing sustainability as a core value, biodegradable food packaging offers an ingenious solution, ensuring a delightful and guilt-free dining experience.
Beverage packaging emerges as a compelling segment, experiencing substantial growth in the biodegradable packaging market. As the beverage industry explores eco-friendly packaging alternatives, biodegradable solutions step into the spotlight, offering a perfect harmony of convenience and sustainability. From single-use cups to on-the-go beverage containers, biodegradable beverage packaging caters to the fast-paced lifestyle of modern consumers without compromising on environmental responsibility.
Global Biodegradable packaging Market By Material Type
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Biodegradable Packaging Market Regional Insights
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.
Asia Pacific region is expected to be the fastest-growing region in the global biodegradable packaging market during the forecast period, owing to the increasing demand for sustainable packaging solutions from various end-use industries such as food and beverage, cosmetics, and healthcare. Moreover, the increasing population and rising disposable income levels in the region are expected to drive the demand for biodegradable packaging in the coming years.
Global Biodegradable packaging Market By Geography
- Largest
- Fastest
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Biodegradable Packaging Market Dynamics
Biodegradable Packaging Market Drivers
Increasing Environmental Awareness:
- 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.
Stringent Government Regulations
- Stringent regulations imposed by governments and environmental agencies to curb plastic waste and promote sustainable practices have played a crucial role in driving the adoption of biodegradable packaging. Various countries have implemented bans or restrictions on single-use plastics, encouraging businesses to transition towards more environmentally friendly packaging options. These regulatory measures have created a favorable market environment for biodegradable packaging solutions.
Biodegradable Packaging Market Restraints
Higher Cost of Biodegradable Materials:
- One of the main restraints faced by the biodegradable packaging market is the higher cost of biodegradable materials compared to conventional non-biodegradable plastics. The initial investment required for adopting biodegradable packaging solutions can be a deterrent for some businesses, particularly smaller enterprises with limited budgets. As a result, cost considerations may hinder the widespread adoption of biodegradable packaging, especially in price-sensitive industries.
Limited Availability of Biodegradable Materials
- The limited availability and scalability of biodegradable materials can also restrain the market's growth. While advancements in technology have led to the development of innovative biodegradable materials, the production capacity and availability of these materials may still be limited. This can pose challenges for businesses looking to switch to biodegradable packaging on a larger scale, especially in regions where access to such materials is constrained.
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Biodegradable Packaging Market Competitive Landscape
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.
Biodegradable Packaging Market Top Player’s Company Profiles
- Biopac (UK) Ltd. (UK)
- 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)
Biodegradable Packaging Market Recent Developments
- 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.
Biodegradable Packaging Key Market Trends
- 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.
- Expansion of Biodegradable Packaging Offerings: Another key trend is the expansion of biodegradable packaging offerings by manufacturers and suppliers. As demand for eco-friendly packaging grows, companies are diversifying their product portfolios to include a wider range of biodegradable options. This trend ensures that businesses have access to a variety of biodegradable packaging solutions that cater to different applications and industries, further stimulating market growth.
Biodegradable Packaging Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global biodegradable packaging market analysis, the industry exhibits a diverse landscape with significant growth potential. North America stands as the dominating region in terms of revenue share, driven by a growing awareness of environmental sustainability, stringent regulations, and consumer demand for eco-friendly packaging solutions. Key players in the region contribute to its market dominance, offering a wide range of innovative and biodegradable packaging products across various sectors. On the other hand, Asia Pacific emerges as the fastest-growing market, fueled by a rising middle-class population, rapid urbanization, and increasing government initiatives to combat plastic pollution. The region's economic growth, coupled with a growing preference for sustainable products, has led to a surge in demand for biodegradable packaging materials.
The market offers various biodegradable packaging types, including biodegradable plastics and papers, with biodegradable plastics holding a dominant position due to their versatility and applicability in diverse industries. As environmental concerns continue to drive market growth, consumers and businesses alike are increasingly adopting biodegradable packaging to reduce their ecological impact. The biodegradable packaging market is characterized by technological advancements and innovations in materials, enabling the development of compostable and eco-friendly solutions that cater to evolving consumer preferences. While the market presents lucrative opportunities, challenges such as cost considerations, limited availability of biodegradable materials, and regulatory complexities need to be addressed. Key trends in the market include the development of advanced bio-based materials, collaborations between packaging companies and consumer brands to promote sustainable practices, and a growing emphasis on circular economy principles. Overall, the global Biodegradable packaging market offers significant prospects for market players to expand their product offerings, invest in research and development, and capitalize on the growing demand for eco-friendly and responsible packaging solutions worldwide.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 88.40 Billion |
| Market size value in 2031 | USD 149.35 Billion |
| Growth Rate | 6% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Biodegradable Packaging Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Biodegradable Packaging Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Biodegradable Packaging Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Biodegradable Packaging Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Biodegradable Packaging Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Biodegradable Packaging Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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