Biodegradable Packaging Materials Market Accelerates at 6.8% CAGR to Hit US$ 169 Billion by 2032

The global biodegradable packaging materials market is estimated at USD 88 Billion in 2022 and is forecast to surpass USD 169 Billion by 2032, growing at a CAGR of 6.8% from 2022 to 2032.

The global fight against harmful packaging materials made of plastic and other harmful components, as well as increased demand for sustainable packaging in a variety of industries such as food & beverage, pharmaceuticals, etc., are the main causes of the market demand for biodegradable packaging materials' 1.3X increase.

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"Increasing growth of the e-commerce sector and popular trends of online grocery shopping is opening new avenues of growth for players in the biodegradable packaging material market. Purchasing decisions of environment-conscious consumers are greatly influenced by sustainable packaging materials, which may create high demand for biodegradable packaging solutions in the coming future. Stakeholders in the biodegradable packaging material market are shifting their focus on the dynamic trends in the e-commerce sector while adopting their future business strategies," says a lead analyst at Fact.MR.

The Fact.MR report further states that, among all the leading end-user industries in the biodegradable packaging material market, food & beverage industry is expected to account for more than 30% of the total market share throughout the forecast period. Increasing demand for packaged food products, convenience foods, and ready-to-eat meals is reflected in supermarket shelves. Leading players in the biodegradable packaging material market are introducing biodegradable packaging films, trays, and bags to further improve the fresh food experience for consumers while offering numerous environmental benefits.

Competitive landscape:

The global biodegradable packaging materials market is highly fragmented and competitive owing to the existence of many domestic and regional players. Various marketing strategies are adopted by key players such as mergers and acquisitions, expansions, collaborations and partnerships.
Also, new product development as a strategic approach is adopted by the leading companies to upscale their market presence among consumers. These strategies have resulted in the incorporation of eye-catching biodegradable packaging materials comprising of better functionalities and variants.

Fact.MR has provided detailed information about price points of top manufacturers of biodegradable packaging materials positioned across regions, sales growth, production capacity, and speculative technological expansion in the recently published report.

For instance:
• Smurfit Kappa in 2021 launched a new range of eBottle packaging solutions for the growing online beverage market. This range is more sustainable made from recyclable raw material and is customizable according to bottle shapes and sizes. The company also offers a range of automated solutions that helps in the optimization of packaging processes.

• Amcor Limited in 2021, announced that its team has created more sustainable packaging solutions for butter and margarine, which is made entirely from paper. The paper wrapper is 38% lighter than aluminium and paper packaging and reduces carbon footprint by 81%, thus, helping consumers meet sustainability goals.

Global Biodegradable packaging materials Market by Category:

· By Material Type :
• Paper and Paperboards
• Coated Unbleached Kraft Paperboard
• Bleached Paperboard
• Molded Fiber Pulp Paperboard
• Recycled Paper Paperboard
• Plastic
• Poly Lactic Acid (PLA)
• Polyhydroxybutyrate (PHB)
• Starch Based Plastic
• Fossil Based Polymer (PCL, PBAT, PBS etc.)
• Polyhydroxyalkanoates (PHA)
• Jute
• Wood

· By Application :
• Trays
• Bags
• Boxes
• Clamshells
• Films
• Pouches

· By End-Use Industries :
• Food & Beverage Industry
• Cosmetics and Personal Care Products Industry
• Pharmaceuticals Industry
• Consumer Goods Industry

· By Region :
• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• MEA

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Questionnaire answered in the Market outlook Report of Biodegradable Packaging Materials include:

• What is the key strategy deployed by large players to maximize Biodegradable Packaging Materials Market growth?

• What are the main challenges faced by players in the Biodegradable Packaging Materials market Demand?

• With the advent of technological advancement, how will the Biodegradable Packaging Materials market landscape change over the forecast period?

• What does player bring to the table which is unique as a strategy, and is easy to emulate for new investors in the Biodegradable Packaging Materials market size?

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This release was published on openPR.