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This market research study identifies BASF, International Paper, Mondi, Smurfit Kappa, and Stora Enso as the leading players in the global biodegradable paper packaging materials market. A comprehensive analysis of this market is also presented by the product type (corrugated board, flexible paper, and boxboard), by application (food packaging, beverage packaging, electronic packaging, and others), and by geography (APAC, Europe, North America, and ROW).
As per the Technavio’s market research report, the global biodegradable paper packaging materials market is expected to grow at a moderate rate and post a CAGR of close to 11% during the forecast period. The rising demand for sustainable packaging materials among consumers will drive the growth prospects for the global biodegradable paper packaging materials market until the end of 2021. The market is witnessing a high rate of adoption of biodegradable paper or ecofriendly materials by retailers and intermediaries for packaging purposes because of various initiatives taken by governments of many countries to promote the use of sustainable packaging materials. Also, factors such as the growing consumer awareness, change in consumer attitudes, rising preference towards the environment-friendly packaging materials, and the increasing demand for these packaging materials from retail outlets will fuel the market’s growth. Moreover, the market is also driven by the growing inclination of various economies towards the globalization of trade.
During 2016, APAC accounted for the largest share of the biodegradable paper packaging materials market and will continue to dominate the market during the forecast period. The presence of a large population of high-spending individuals, the increasing disposable incomes, changing lifestyles, rising demand from the food and beverages industry, and the economic developments in this region will boost the acceptance of biodegradable packaging materials among various end users in this region.
The highly-fragmented biodegradable paper packaging materials market comprises of many vendors and is highly-competitive. Since the barriers to entry such as initial investment costs are relatively low, the market is witnessing a high influx of new entrants, which, in turn, will strengthen the market’s competitive environment. Several vendors are increasingly competing against each other based on factors such as product quality. A large number of these vendors are increasingly focusing on providing packaging solutions to the healthcare, beauty and personal care, biodegradable packaging materials, beverages, and many other sectors and industries.
Key vendors in this market are -
Other prominent vendors in the market include Biopac, Georgia-Pacific, Holmen, Hood Packaging, Kruger, WestRock, and Mayr-Melnhof Karton.
According to this market research and analysis, the corrugated board segment dominated the global biodegradable paper packaging materials market during 2016 and will continue to dominate the market in the coming years as well. Factors such as the favorable economic conditions, the increasing demand from electrical goods market, and the emergence of online shopping, will boost the demand for corrugated boards in the market. Moreover, the rising consumption from developing nations such as the Brazil, Russia, India, and China (BRIC) countries and the increased world trade will also fuel the market’s growth prospects.
The global biodegradable paper packaging materials market for food packaging dominated the market during 2016 and its dominance is expected to continue until the end of 2021. This mainly attributes to the increasing trend for special types of packaging in the food packaging segment, the growing preference for convenience foods, and the changing consumer behavior.
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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.
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