Compostable Packaging Market Value is Expected USD 75013.52 million by 2029 ; Says Data Bridge Market Research

Compostable products are those product which can biodegrade and disintegrate into natural elements such as biomass, water, and carbon dioxide in a composting environment and leaving no harmful element in the soil. The compostable plastic packaging material contains PBS, PBAT, PHA, PLA, starch blends. These compostable mimic conventional plastic's positive qualities, such as shelf stability, barrier properties, durability, etc., with one difference, i.e. these materials are fully compostable. Compostable material are providing nutrients to the earth when it has completely broken down. In order for packaging material and products to qualify as compostable, they must completely decompose and break down into natural elements within a short time after disposal.

With increasing consumer demand for compostable materials, companies are developing eco-friendly packaging to satisfy their consumers and focus on improving the world. APP Sinar Mas as one of the leading company of pulp and paper which has brought an advanced eco-friendly solution in the food and beverage packaging market. Foopak Bio Natura is also designed eco-friendly paperboard that takes inspiration from nature. It is appropriate for food packaging and single-use cup. Compostable packaging represents a sustainable, eco-friendly process of packaging.

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Data Bridge Market Research analyses that the compostable packaging market was valued at USD 46360.00 million in 2021 and is expected to reach USD 75013.52 million by 2029, registering a CAGR of 6.20 % during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and technological advancements.

Compostable Packaging Market Dynamics

Drivers

Rise the demand in food industry
The compostable packaging in the food and beverage industry is expected to witness the market's growth due to the nonstop demand for bottled water and non-alcoholic beverages in the market. The demand for bottled water is attributed to customers' propensity for specifically demanding high-quality drinking water due to the fear of diseases resulting from drinking polluted tap water, and the ease of convenience and portability provided by bottled water.?

Awareness of packaging waste in landfills and oceans
The awareness of packaging waste leakage in public, especially for plastic waste, into the environment has augmented considerably during past years. This has enforced to increase the demand for sustainable effort from brand retailers and owners to choose compostable packaging materials which are expected to increase the demand of compostable packaging in the market

Increase the demand of ecofriendly packaging
Increasing awareness regarding environmental packaging across the developed countries is growing the adoption rate of compostable packaging in large companies, for example the Coca-Cola Company, Unilever Group, and Danone. These companies are adopting compostable packaging to retain their customer base, which is driving the compostable packaging market globally.

Opportunities

The government's rising initiatives for manufacturing compostable materials for the packaging are expected to accelerate the compostable packaging market. The increasing investments for these packaging solutions will also provide the profitable opportunities for the growth of the compostable packaging market. Furthermore, increase in emerging new markets and strategic collaborations will also act as market drivers and further increase useful opportunities for the market's growth rate.

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