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The biodegradable packaging materials market is estimated to grow at a CAGR of 6.03% between 2022 and 2027. The size of the market is forecast to increase by USD 30,958.3 million. The growth of the market depends on several factors, including a shift toward the use of bioplastic packaging by end-users, government initiatives that promote the use of bioplastic packaging, and rising environmental stewardship.
This report extensively covers market segmentation by application (food, beverage, pharmaceutical, personal and home care, and others), product (paper and bioplastics), and geography (Europe, North America, APAC, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The shift toward the use of bioplastic packaging by end-users is notably driving the market growth, although factors such as the lack of adequate infrastructure may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Biodegradable Packaging Materials Market Driver
The shift toward the use of bioplastic packaging by end-users is the key factor driving the global biodegradable packaging materials market growth. The rise in environmental pollution and increasing consumer preference for products based on biodegradable materials are increasing environmental concerns across the world, driving the growth of the market during the forecast period. To meet consumer demand, many end-users such as retailers and food processors are focusing on offering their products in bio-plastic packaging.
Hence, increasing acceptance of bio-plastic packaging by various end-users will spur the growth of the biodegradable paper and plastic packaging market during the forecast period.
Significant Biodegradable Packaging Materials Market Trend
The continuous development of new products is the primary trend in the global biodegradable packaging materials market growth. Market vendors are investing in new product development and product innovation due to increasing demand and adoption of biodegradable paper and plastic packaging. They are constantly developing their product portfolio and investing in developing materials with specific properties for different applications.
Moreover, the manufacturers of packaging materials are now looking to differentiate their products from those of their competitors by offering the best possible biodegradable packaging products to meet the needs of their customers. Product development by some vendors encourages other vendors to introduce innovative products in order to remain competitive in the market. Such new product development is expected to increase the acceptance of the biodegradable paper and plastic packaging during the forecast period.
Major Biodegradable Packaging Materials Market Challenge
The lack of adequate infrastructure is a major challenge to the global biodegradable packaging materials market growth. The limited availability of collection infrastructure is one of the biggest challenges in improving the amount of recovered paper. The lack of awareness about the recycling of biodegradable materials and poor recycling habits result in such materials being dumped in landfills rather than being sent for composting or recycling. Landfills contain a staggering amount of paper waste. In the 20th century, the paper used to be a rare commodity; however, currently, it is one of the common resources that is highly exploited. When paper is thrown away in landfills, it can cause long-term problems.
Landfills emit greenhouse gases and methane, which is dangerous for the environment. This is because landfills lack proper light, water, and bacterial activities, which are essential for the decaying process. As the global population increases, the amount of waste generated and the waste that goes to landfills is also rising. Plastic-coated paper milk cartons require composting facilities for proper degradation. A shortage of such facilities worldwide is one of the major challenges faced by the market. The lack of investments in building proper infrastructure for composting or recycling papers is a severe problem that hinders the growth of the global biodegradable paper and plastic packaging market.
Key Biodegradable Packaging Materials Market Customer Landscape
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Biodegradable Packaging Materials Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
amcor.com - The company offers biodegradable paper and plastic packaging solutions such as Performance Paper under the brand LifeSpan.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the food segment will be significant during the forecast period. Biodegradable paper and plastic packaging are used for packaging various food products, including fruits, vegetables, confectionery items, convenience foods, meat, and dairy items. In 2020, the food packaging segment accounted for the largest share of 36.49% in the global biodegradable paper and plastic packaging market. While the overall market is driven by favorable economic conditions and environmental concerns, the food packaging segment is driven by changing consumer behavior and the rising preference for convenience foods, which requires the use of special types of packaging.
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The food segment was valued at USD 29,531.52 million in 2017 and continue to grow by 2021. Urbanization is one of the main reasons for the increasing market for food packaging. Urban families prefer processed and packaged food due to time constraints. The consumption of packaged food is increasing in India, China, Brazil, Thailand, and other developing countries. Additionally, it is expected to grow at a CAGR of 6.21% between 2022 and 2027, which is expected to drive the growth of the market in focus during the forecast period.
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Europe is estimated to contribute 34% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. In 2022, Europe was the largest market for biodegradable paper and plastic packaging. The region is expected to have significant growth in the bioplastic packaging market during the forecast period as it is characterized by a high demand for packaging made from biodegradable materials, such as paper and bioplastics, for wrapping organic food and premium and branded products with specific requirements. Bioplastics are replacing petroleum-based plastics in the packaging industry. Hence, the packaging industry in Europe is expected to grow, concurrently driving the biodegradable paper and plastic packaging market. Some of the major revenue contributors to the biodegradable paper and plastic packaging market in Europe are the UK, Germany, Italy, France, and Sweden. In addition, there are strict rules and policies against the use of non-recyclable plastics in the region.
The regional market witnessed a few challenges due to the global outbreak of COVID-19. However, the demand for these materials remained the same from the pharmaceutical and medical industries as they were classified as essential industries and were operational even during the lockdown in 2020. In addition, the resumption of the hospitality, food, beverages, and retail sectors after the changing guidelines of lockdowns in the latter half of 2020 is expected to contribute to the growth of the market. Furthermore, the resumption of normal business operations in the region and the efficiently conducted vaccination drives are expected to drive the growth of the regional market in focus during the forecast period.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Biodegradable Packaging Materials Market Scope |
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Report Coverage |
Details |
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Page number |
174 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.03% |
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Market growth 2023-2027 |
USD 30,958.3 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
5.56 |
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Regional analysis |
Europe, North America, APAC, Middle East and Africa, and South America |
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Performing market contribution |
Europe at 34% |
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Key countries |
US, Canada, China, Germany, and UK |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Amcor Plc, BASF SE, BioPak Pty Ltd., Cargill Inc., Elevate Packaging Inc., Georgia Pacific LLC, Holmen AB, Hood Packaging Corp., International Paper Co., Kruger Inc., Mayr Melnhof Karton AG, Mondi plc, NatureWorks LLC, Novamont Spa, Plantic Technologies Ltd., Smurfit Kappa Group, Stora Enso Oyj, TotalEnergies SE, WestRock Co., and Oji Holdings Corp. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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