Biodegradable Plastic Packaging Market 2020 Insights and Precise Outlook - Tetra Pak International SA, Plastic Suppliers Inc., Kruger Inc., Amcor PLC

The Biodegradable Plastic Packaging Market covers important aspects of this market concerning fundamental parameters. The report explains outline of the business range, concentrating on the overall industry, development possibilities, types and application. It brief Biodegradable Plastic Packaging summary of the market considering the current and future scenarios. It also provides information in terms of development and its capacities.

The biodegradable plastic packaging market was valued at USD 4.65 billion in 2019, and is expected to reach a market value of USD 12.06 billion by 2025, registering a CAGR of 17.04% during the forecast period of 2020-2025.

The Biodegradable Plastic Packaging market is highly competitive and consists of a number of major players: Tetra Pak International SA, Plastic Suppliers Inc., Kruger Inc., Amcor PLC, Mondi PLC, International Paper Company, Smurfit Kappa Group PLC, DS Smith PLC, Klabin SA, Rengo Co. Ltd and Others

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Scope of the Report

Biodegradable plastics are very much used in packaging industry as they are ecologically friendly. With increasing crude oil prices and issues related to petroleum-based plastics such as disposal and efficient waste management, the concept of using biodegradable plastics as an alternative in various applications, such as FMCG, hospital, manufacturing is increasing, which is driving the market.

Key Market Trends

Use of Bioplastics is Stimulating the Market Growth

- The overarching problem of climate change and the expected future shortage of fossil resources have accelerated the search for better concepts for plastics packaging. Bioplastics packaging offers the same qualities as conventional packaging, while exposing much greater sustainability features.
- There is a high demand for packaging made from bioplastics to be used for wrapping organic food as well as for premium and branded products with particular requirements. A combination of recycling components from conventional plastics such as rPET with bioplastics (bio-based PET), gives a high performance and processing of bioplastics packaging. Biodegradable food packaging certified as industrially compostable was the first successfully commercialised bioplastic product.
- Rigid bioplastics applications are increasing for cosmetics packaging of compact powders, creams and lipsticks, as well as beverage bottles. Materials such as PLA, bio-based PE, or bio-based PET are used in this section. The high percentage of bio-based material in these products and the ability to combine them with recyclates from conventional PE and PET has resulted in a decisive increase in resource efficiency and a reduction of CO2 emissions, which will increase the market growth in future.
- Retailers across Europe such as Rossmann, Aldi, Coop, and Carrefour use single or multi-use carrier bags made from bioplastics with the add-on bonus of biodegradability. Certified biodegradable/compostable cups are also used at big events or in major football stadiums throughout Europe.

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Europe is Expected to Witness a Significant Growth Rate Over the Forecast Period

- The transition to a low-carbon and circular economy, stronger policy support for the bioeconomy, and increased consumer awareness for sustainable products and packaging are driving the expansion of the market in Europe.
- European Unions decision to reduce overall consumption of thin plastic bags in the region by about 80% by 2019, compared to 2010 consumption levels, is expected to create huge growth opportunities for biodegradable plastics manufacturers over the next five years.
- The demand for biodegradable plastics is witnessing a significant rise from conventional end-user industries such as packaging, agriculture and textile. The use of biodegradable plastics, especially in European countries, is also increasing in other niche segments such as medical implants and drug delivery systems, etc, which is driving the overall market growth.

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What are the market factors that are explained in the report?

-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

-Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

-Analytical Tools: Biodegradable Plastic Packaging Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter's five forces analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.

The research includes historic data from 2025 to 2020 and forecasts until 2025 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.

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This release was published on openPR.