Biodegradable Packaging Market Size Worth US$ 133.5 Billion by 2028 | Growth Statistics and Forecast Report

How Big is The Biodegradable Packaging Market:

IMARC Group, a leading market research company, has recently releases report titled "Biodegradable Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" The global biodegradable packaging market size reached US$ 95.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 133.5 Billion by 2028, exhibiting a growth rate (CAGR) of 5.59% during 2023-2028.

What are Biodegradable Packaging?

Biodegradable packaging involves the utilization of environmentally friendly and recyclable materials for packing purposes. These materials are easily broken down and decomposed by microorganisms, such as fungi, algae, and bacteria. Examples of biodegradable packaging materials include corrugated bubble wrap, recycled cardboard, bioplastics, organic fabrics, cornstarch, seaweed, mushroom packaging, and other plant-based materials. This type of packing contributes to human and ecological well-being by generating a lower carbon footprint compared to synthetic products traditionally used. In addition to this, biodegradable packaging also aids in reducing plastic usage, addressing littering issues, and supporting environmental health.

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What are the growth prospects and trends in the Biodegradable Packaging Industry:

The escalating demand for processed and ready-to-eat (RTE) items, owing to the increasing working population and busy schedules, is primarily driving the biodegradable packaging market. Besides this, the extensive product utilization in the food and beverage (F&B) industry, on account of its faster decomposition and recyclable properties, is further augmenting the market growth. Moreover, the rising awareness among individuals toward the harmful impacts of non-biodegradable packaging on health and the environment and the launch of several policies by the government bodies to ban plastic products and reduce carbon emissions are also catalyzing the global market. Apart from this, the growing usage of eco-friendly and recyclable materials that minimize harmful footprints, continuous technological advancements in the packing industry, and the inflating investments by the leading players in research and development (R&D) activities are acting as significant growth-inducing factors. Furthermore, the emerging trend of online shopping and the expanding e-commerce industry drive the need for this solution, enabling the doorstep delivery of products, which are expected to bolster the biodegradable packaging market in the coming years.

Who are the key players operating in the industry?

• Amcor PLC
• Berkley International Packaging Limited
• Biopak PTY LTD, Elevate Packaging Inc.
• Greenpack Limited
• International Paper Company
• Kruger Inc.
• Mondi Group
• Ranpak Holding Corporation
• Smurfit Kappa Group PLC
• Tetra Pak International SA
• Toray Plastics (America) Inc. (Toray Industries Inc).

What is included in market segmentation?

Breakup by Material Type:

• Plastic
o Starch-based Plastics
o Cellulose-based Plastics
o Polylactic Acid (PLA)
o Poly-3-Hydroxybutyrate (PHB)
o Polyhydroxyalkanoates (PHA)
o Others
• Paper
o Kraft Paper
o Flexible Paper
o Corrugated Fiberboard
o Boxboard

Breakup by Application:

• Food Packaging
• Beverage Packaging
• Pharmaceutical Packaging
• Personal/Homecare Packaging
• Others

Breakup by Region:

• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

Key highlights of the report:

• Market Performance (2017-2022)
• Market Outlook (2023- 2028)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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