Biodegradable Packaging Material Market Analysis highlighting Opportunities and Development Status during 2018-2028|| Key Companies are Smurfit Kappa UK Ltd., International Paper Company, WestRock Company

Fact.MR recently published a market study “Biodegradable Packaging Market Forecast, Trend Analysis, and Competitive Tracking – Global Review 2018-2028”, which presents comprehensive analysis of the important growth parameters of the biodegradable packaging market. Imperative information about the most important macro and microeconomic factors that are complementing or restricting the growth of the biodegradable packaging market, is featured in the report. The report also provides detailed layout of information to provide dynamics of the biodegradable packaging market that are obtained at the end of thorough market research.

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Manufacturers and distributors in the biodegradable packaging market can leverage the qualitative as well as quantitative information included in the Fact.MR market study while making important business decisions in the coming future. The information included in the report can also help new entrants in the biodegradable packaging market to remain updated about the latest business strategies adopted by market leaders to establish stronger presence in the biodegradable packaging market in the foreseeable future. The information about the biodegradable packaging market is presented in the most seamless, chapter-wise manner in the report for the better understanding of readers.

Biodegradable Packaging Material Market: Investment in Cutting-edge Manufacturing Technologies Growing

Leading manufacturers in the biodegradable packaging material market are adopting advanced technologies to cater to the increasing demand for highly-efficient and affordable biodegradable packaging solutions. Furthermore, next-generation technological solutions are aiding manufacturers in the biodegradable packaging material market to improve the suitability of their biodegradable packaging solutions for industry-specific applications.

Market players, such as Smurfit Kappa Group, Mondi Limited, and Amcor Limited, recently announced that they have adopted strategies to increase investments in state-of-the-art technologies, such as resin reclamation technology and extrusion coating technology, to boost speed and flexibility of manufacturing processes and deliver application-specific biodegradable packaging solutions.

Stringent Regulations against Single-Use Packaging Drive Demand for Biodegradable Packaging Materials

According to statistics declared by the World Bank, more than 2 billion tons of solid waste was generated across the globe in 2016, and with the increasing global population, annual waste generation may increase by 70% to reach 3.4 billion tons by 2050. Another report published by the World Economic Forum opined that in 2015, over 300 million tons of plastic waste was generated across the world, and only 14% of which was recycled.

Considering the perils of rising plastic waste generation, a majority of governments and institutes, such as the European Commission, have imposed a ban on the use of single-use plastic packaging materials. Players in the biodegradable packaging material market are aiming to leverage lucrative business opportunities as manufacturers are shifting towards eco-friendly packaging materials while complying with strict government regulations.

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Shift from Traditional to Biodegradable: Opportunities and Challenges for Stakeholders Across Supply Chain

The surge in biodegradable packaging can be attributed, in part, to regulatory challenges pertaining to the use of traditional plastics. The institution-industry collaboration to mitigate global warming has led to adoption of sustainable materials. The growing emphasis towards ‘eco-friendly packaging’ is likely to create sustained opportunities for biodegradable packaging material manufacturers in the long-term. However, the onus is on manufacturers to scale up and offer a wide range of functional products that are compatible with the evolving needs of various industries.

The broader impact of a shift towards biodegradable packaging is all-encompassing – from material providers to recyclers, every player in the supply chain is involved. Further, many biodegradable materials cannot be recycled, which continues to create challenges in terms of investment. The challenges are not limited to recyclability alone – ineffective waste management continues to create shortage as well as oversupply of raw materials used in the manufacture of biodegradable packaging.

Concerns about Sustainability and High Cost of Biodegradable Plastic Hinder Market Growth

Though the ban on plastic packaging has influenced retailers into shifting towards biodegradable packaging alternatives, high cost of biodegradable packaging materials continues to be the main impediment to its speed of adoption. Unavailability of cost-effective biodegradable packaging materials remains a huge challenge for retailers and market players in the end-user industries. Additionally, consumers are becoming aware of the fact that bio-plastics used in biodegradable packaging also have a significant environmental footprint, which is changing the dynamics of the biodegradable packaging material market. As the level of consumer understanding about biodegradable packaging materials and current waste management infrastructure drive the manufacturer’s choice of biodegradable packaging materials, concerns about the biodegradability of bio-plastic may hamper the development of the biodegradable packaging material market in the upcoming years.

Competitive Landscape

The Fact.MR market research report provides detailed information about the recent developments in the biodegradable packaging material market. Readers can find comprehensive information about the leading players in the biodegradable packaging material market in order to understand the recent strategies adopted by their competitors. The companies featured in the Fact.MR report on biodegradable packaging material market include Smurfit Kappa UK Ltd., International Paper Company, WestRock Company, Mondi Limited, DS Smith PLC, Tetra Pak International S.A, Amcor Limited, Stora Enso Oyj, Toray Industries, Inc., and Kruger Inc.

For Further Insights and Segment-Specific Information, Contact a Market Analyst at: https://www.factmr.com/connectus/sample?flag=AE&rep_id=2063

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