In 2021, the global market for plant-based packaging is anticipated to expand by 6.7%. Nonetheless, from 2021 to 2031, the 10-year compound annual growth rate (CAGR) stays positive.
Plant-based packaging is becoming more and more popular in a variety of applications because to its minimal environmental impact, growing focus on sustainability, government emphasis on effective package management, growing consumer awareness, and an expanding prohibition on plastic.
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Since plant-based packaging has shown to be the most environmentally friendly option, market demand is anticipated.
Diverse packaging forms, materials, and technologies enable the packaging business to offer creative, secure, and environmentally friendly packaging solutions for a range of products. Recyclability is still a major trend in the worldwide packaging sector, in addition to sustainability. Environmental safety organizations continue to have a significant impact on a variety of packaging industries.
Plant-based packaging is anticipated to gain widespread because to its superior and distinct preservation capabilities. The usage of bioplastics with enhanced oxygen barriers may be the cause of this. New green plastic is anticipated to hit the market utilizing advanced technologies including biopolymers and nanoparticle components.
Key Plant Based Packaging Market Takeaways and Projections
- The U.S. is expected to lead the North America Plant Based Packaging market, projecting the fastest growth in the region between 2021 and 2031
- Germany and the U.K. are expected to, collectively, hold the largest share in the Europe market over the assessment period.
- China will dominate the East Asia market, accounting for the largest demand share during the forecast period.
- India is expected to emerge as a highly remunerative market in South Asia, contributing the significant revenue share in the region through 2031.
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Report Benefits & Key Questions Answered
- Historical Market Analysis: The detailed survey by FMI, examines key factors in the Plant Based Packaging market that affected the growth in the market for the last assessment period 2016-2020 and also studies their consequent impact. It also provide refined the sales projection of the Plant Based Packaging market for the forecast period 2021-2031.
- Demand Outlook Analysis: Future Market Insight’s (FMI’s) exhaustive study provides crucial insights into key drivers and upcoming opportunities driving the demand for Plant Based Packaging for the assessment period. As per the study, the demand for Plant Based Packaging will grow at a robust CAGR between 2021 and 2031.
- Trend Analysis: The latest study by FMI on the Plant Based Packaging market offers compelling insights into key expansion strategies adopted by top-tier players with respect to current trends. It discloses details regarding upcoming trends in the packaging industry to assist market players in constructing an effective strategy to capitalize on them.
Competitive Landscape Analysis
The market survey conducted by FMI offers key trends and challenges in the packaging industry and its consequent impact of Plant Based Packaging market. The survey provides a thorough market share analysis to offer an in-depth analysis of prevailing competition.
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Plant Based Packaging Industry Segmentation
Based on type:
- Flexible Packaging
- Rigid Packaging
Based on Application:
- Food
- Bakery & confectionery
- Meat, fish, and poultry
- Fruits & vegetables
- Dairy products
- Other food products
- Industrial Supplies
- Healthcare
- Personal Care
- Other
Based on end-use:
- Commercial
- Industrial
Based on the Region:
- North America
- U.S. and Canada
- Latin America
- Mexico, Brazil, Peru, Chile, and others
- Western Europe
- Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg
- Eastern Europe
- Poland and Russia
- Asia Pacific
- China, India, Japan, ASEAN, Australia, and New Zealand
- The Middle East and Africa
- GCC, Southern Africa, and North Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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