The Biodegradable Packaging Market is experiencing rapid expansion as sustainability becomes a primary focus for consumers and industries worldwide. Biodegradable packaging, made from renewable resources like plant-based materials, offers an eco-friendly alternative to traditional petroleum-based plastics. With its ability to naturally decompose without harming the environment, this packaging solution addresses the pressing issue of plastic pollution.
The market encompasses various products such as bags, pouches, trays, and wraps, catering to industries like food and beverage, personal care, and pharmaceuticals. As governments and consumers increasingly demand greener solutions, the biodegradable packaging market is poised for substantial growth in the coming years.
The global biodegradable packaging market is anticipated to reach US$ 448.2 Bn in 2022 and continue to grow at a CAGR of 6.1% from 2022 to 2032, according to data from Future Market Insights. By the end of 2022, it is predicted that the top 3 nations will control about 25–30% of the global market for biodegradable packaging.
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Around 45% of the global packaging market, estimated to be worth US$ 980 billion in 2021, is made up of biodegradable packaging. The biodegradable packaging industry will surpass US$ 440 Bn in 2021, per the FMI estimate. The market for biodegradable packaging is expected to grow at a CAGR of 6.1% from 2022 to 2032.
A recent study by ESOMAR-certified consulting firm Future Market Insights projects a positive outlook for the Biodegradable Packaging market over the forecast period. The report gives a detailed outlook about the ongoing changes and advancements that are expected to augment growth in the Biodegradable Packaging market. With a unique approach and extensive data analysis, FMI presents a detailed perspective on the market, key growth drivers, threats and challenges that market players are likely to face during the forecast period.
According to the study, the Biodegradable Packaging market is expected Technological advancements in the packaging industry across various verticals will enable growth in the market. Increasing investment in research and development activities and the adoption of information technology within the industry will create growth opportunities. FMI’s latest report gives significant details about the current and upcoming market scenario for an optimized assessment of the market.
COVID-19 Impact Analysis on Biodegradable Packaging Market
Following the outbreak of COVID-19, the packaging industry is expected to witness moderate growth after a steep fall. Soaring development in various sectors of packaging including the increased R&D activities from the prominent players has led the Biodegradable Packaging market in a positive direction. Manufacturers are more focused on sustainability as a key strategy to maintain their position in the industry during a time of crisis.
FMI provides extensive information on growth strategies that will aid the players to tackle the impact of a pandemic on the global Biodegradable Packaging market. This detailed chapter will give the market players information on the market scenario following the outbreak of COVID-19 and its impact on the industry across major regions. With various infographics and detailed data sets, the market players are provided with market intelligence solutions that are accurate, transparent and reliable for the upcoming decade.
Important Questions Answered in the Biodegradable Packaging Market Report
- Which are the top companies operating in the Biodegradable Packaging market?
- What will be the future outlook of the Biodegradable Packaging market in the upcoming decade?
- What are the key growth drivers and restraints likely to affect the Biodegradable Packaging market in the future?
- Which region is expected to be the most lucrative region for the Biodegradable Packaging market?
- What are the ongoing trends likely to augment the growth of the global Biodegradable Packaging market?
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Biodegradable Packaging Market: Segmentation
In-depth analysis of FMI’s Biodegradable Packaging market report has been further classified into key segments and sub-segments.
- By Material
- Plastic
- Paper
- By Application
- Food & Beverage
- Pharmaceutical
- Personal Care / Home Care
- Others
Biodegradable Packaging Market: Competitive Analysis
The latest report on the Biodegradable Packaging market by FMI gives an unbiased analysis of the top 10 leading companies operating in the Biodegradable Packaging market. It provides detailed segmentation of the market players’ product launches, strategic mergers and acquisitions and revenue prospects that will aid the players to gain a competitive edge in the industry.
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Key players profiled by FMI in the Biodegradable Packaging market include:
- Smurfit Kappa Group
- BASF SE
- International Paper
- Stora Enso
- Clearwater Paper Corporation
- Biopac, Georgia-Pacific LLC
- Rocktenn
- Natureworks LLC
- Novamont S.P.A
Significant Contributions to the Report
- Key Trends and Opportunities: Comprehensive analysis on the industry ongoing trends and opportunities for market players in different regions across the globe
- Recent Challenges and Forecasts: Detailed assessment on the challenges, technological advancements, and forecast for the upcoming decade.
- Segmental Analysis: Extensive research on each segment and factors differentiating the role of these segments in market revenue forecasts and growth rate analysis
- Regional Market Forecast: Thorough analysis of each regional market to arm stakeholders with the necessary information to make critical decisions.
About Future Market Insights, Inc
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.
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