The global biodegradable packaging market is projected to grow at a CAGR of around 5% during the forecast period. The key factors that drive the growth of the global biodegradable packaging market include the variety of properties it possesses such as low environmental impact, sustainability and recyclability, and rising consumer awareness. Besides, several government initiatives and policies implemented in order to replace plastics with a better alternative or bio-based alternatives that cause comparatively less pollution is also encouraging the adoption of biodegradable packaging materials and in turn, is driving the market growth. Further, the paradigm shift of the consumers towards the use of environmentally friendly products is projected to drive the growth of the global market during the forecast period.
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As per the European bioplastics, biodegradable plastics altogether accounts for more than 55% of the overall bioplastics production capacities across the globe. The biodegradable plastics production is projected to rise to 1.33 million by 2024. This, in turn, is likely to enhance the growth of the market over the forecast period. Further, there is an increasing demand for biodegradable packaging in food & beverage industries as it provides sustainable packaging options, which in turn, is driving the growth of the market over the forecast period.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global Biodegradable Packaging Market by Material
- Paper
- Plastic
- Starch-Based Plastics
- Cellulose-Based Plastics
- Polylactic Acid (PLA)
- Poly-3-Hydroxybutyrate (PHB)
- Polyhydroxyalkanoates (PHA)
- Other Plastics
Global Biodegradable Packaging Market by Application
- Food &Beverage Packaging
- Consumer Goods&Electronics Packaging
- Pharmaceutical Packaging
- Other Applications
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- Amcor Plc
- BASF SE
- Bemis Co. Inc.
- Berry Global Inc.
- Biopac India Corp. Ltd.
- Biopak Pty Ltd.
- Clearwater Paper Corp.
- Elevate Packaging Inc.
- Georgia-Pacific LLC
- Greenpack Ltd.
- Huhtamaki Group
- Imex Packaging
- International Paper Co.
- Kruger Inc.
- Mondi Group
- Nampack Ltd.
- Novamont S.P.A
- Ranpak Holding Corp.
- Smurfit Kappa Group
- Stora Enso Oyj
- TetraPak International S.A.
- WestRock Co
The Report Covers
- Market value data analysis of 2019 and forecast to 2026.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global biodegradable packaging market. Based on the availability of data, information related to products, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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