The global starch-based packaging industry is projected to witness substantial growth, with its valuation expected to rise from USD 7,214.5 million in 2023 to USD 13,416.0 million by 2033, achieving a CAGR of 6.4% during the forecast period. The increasing adoption of starch-based packaging as a sustainable alternative to conventional plastic is a key factor driving this growth.
Starch-based packaging, derived from renewable resources such as corn, potatoes, and cassava, offers a biodegradable and compostable solution to the growing problem of plastic waste. Unlike traditional plastics, it breaks down naturally, reducing environmental impact and minimizing the plastic waste burden on landfills and oceans.
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The adaptability of starch-based packaging is another significant advantage. It is widely used in applications such as food packaging, shopping bags, and shipping materials. Additionally, businesses can customize starch-based packaging to meet specific product requirements, making it an ideal sustainable option for diverse industries.
Environmentally conscious consumers are increasingly demanding products and packaging that align with their values, prompting businesses to adopt sustainable packaging solutions like starch-based materials. Furthermore, regulatory measures such as bans and taxes on single-use plastics in many countries have accelerated the shift towards eco-friendly alternatives, creating new growth opportunities for starch-based packaging providers.
Despite its numerous benefits, the adoption of starch-based packaging is not without challenges. The higher cost compared to traditional plastic packaging remains a significant barrier, particularly for smaller businesses. However, as technology advances and economies of scale are achieved, the cost differential is expected to narrow over time.
The starch-based packaging market represents a crucial step towards achieving global sustainability goals. As businesses and consumers alike prioritize eco-friendly solutions, the demand for biodegradable and renewable packaging materials is set to grow, making starch-based packaging a vital component in reducing plastic waste and protecting the environment.
Key Takeaways: Starch-based Packaging Market
- The market is projected to grow at a CAGR of 6.4% from 2023 to 2033, surpassing the 4.0% CAGR recorded between 2018 and 2022.
- Europe dominated the starch-based packaging market with a 35.9% market share in 2022, showcasing its leadership in sustainable packaging.
- The United States accounted for 27.1% of the market share in 2022, driven by supportive government policies.
- China is expected to experience significant growth, with a CAGR of 9.5% during the analysis period.
- Starch-based tableware is emerging as a viable alternative to traditional plastic, capturing over 53.9% of the market share in 2022.
- The food industry is anticipated to hold a dominant 60.5% share of the starch-based packaging market.
Competitive Landscape
Some of the market’s prominent companies are Cargill, Inc., Roquette Frères, Plantic Technologies, Inc., Novamont S.p.A., and NatureWorks LLC. These companies are involved in the creation, production, and distribution of starch-based packaging solutions. They have a strong market presence in a variety of regions around the world. They are also spending in R&D to increase the quality and performance of their products while remaining competitive in the market.
In addition to these huge businesses, there are also small companies dedicated to developing unique and niche starch-based packaging solutions. These businesses frequently operate in certain locations or markets, and they may specialize in certain sorts of products or applications.
Latest Developments:
- In 2020, Novamont S.p.A. and the United Kingdom-based company Biopac announced a partnership to develop and launch a new range of compostable packaging products made from renewable resources.
- Mondi, a leading worldwide packaging manufacturer. It teamed with BIOhof Kirchweidach, an organic farm in Bavaria to design a sustainable packaging solution for 500g packets of tomatoes on the vine to be supplied to PENNY stores, which are owned by the leading Germany retailer REWE Group.
Key Segments Covered in the Starch-based Packaging Market Report
By Packaging Format:
- Tableware
- Films and Wraps
- Pouches and Bags
- Bottles and Cups
- Boxes and Cartons
- Others
By Material:
- Thermoplastic Starch (TPS)
- Starch Blends
By End-Use:
- Food
- Beverage
- Pharmaceutical
- Consumer Goods
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan (APEJ)
- Japan
- The Middle East & Africa (MEA)
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