Biodegradable Packaging Market Will Exhibit an Impressive Expansion by 2024-2031 | Amcor Plc, BASF SE, Bemis Co. Inc.

Biodegradable Packaging Market is projected to grow at a CAGR of around 5% during the forecast period. The market is segmented on the basis of materials and applications. Based on the materials segment, the market is bifurcated into paper and plastic. The paper segment includes corrugated boxes, boxboard & paperboard cartons, and flexible paper. While the plastic segment is segmented into starch-based plastics, cellulose-based plastics, polylactic acid (PLA), poly-3-hydroxybutyrate (PHB), polyhydroxyalkanoates (PHA), and other plastics.

The rapid R&D activities in order to produce biodegradable packaging materials are creating lucrative opportunities for market growth over the forecast period. The most used material is polylactic acid (PLA) which is currently used for the production of different packaging shapes including cups, bowls, foils, and food storage containers. Foamed PLA is used as an insulator and is an alternative to foamed polystyrene (PS). PLA has good mechanical properties, similar to polyethylene terephthalate (PET), and polypropylene (PP). Additionally, an important component is a plasticizer, which enhances flexibility and extensibility. In general, these coatings exhibit higher water permeability, lower oxygen permeability, and inferior mechanical properties compared with traditional packaging. This drives the global biodegradable packaging industry.

Additionally, the integration of biodegradable PLA and PLA coated with a barrier of pure silicon oxide and in combination with a modified atmosphere extends the overall shelf life of the food product. Modified atmosphere packaging includes packaging which is made with carbon dioxide and nitrogen amalgamation to preserve the food for a long period. Modified atmosphere packaging amalgamated with the biodegradable packaging is likely to witness substantial growth in the overall market over the forecast period, which in turn, drives the global biodegradable packaging market.

Further, Mondi Group, Amcor Plc, Smurfit Kappa Group, International Paper Co., Berry Global Inc., Huhtamaki Group, TetraPak International S.A., and others are some of the key players contributing to the growth of the biodegradable packaging market. New product launches & developments, partnerships, agreements, and acquisitions are some of the key strategies adopted by the players in order to cope in the competitive market.

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Biodegradable Packaging Market - Segmentation

By Material

· Paper

· Plastic

By Application

· Food & Beverage Packaging

· Consumer Goods & Electronics Packaging

· Pharmaceutical Packaging

· Other Applications

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Biodegradable Packaging Market - Segmentation by Region

North America

· United States

· Canada

Europe

· Germany

· United Kingdom

· France

· Spain

· Italy

· Rest of Europe

Asia-Pacific

· China

· Japan

· India

· Rest of Asia-Pacific

Rest of the World

· Middle East & Africa

· Latin America

Company Profiles

· Amcor Plc

· BASF SE

· Bemis Co. Inc.

· Berry Global Inc.

· Biopac India Corp. Ltd.

· Biopak Pty Ltd.

· Clearwater Paper Corp.

· Elevate Packaging Inc.

· Georgia-Pacific LLC

· Greenpack Ltd.

· Huhtamaki Group

· Imex Packaging

· International Paper Co.

· Kruger Inc.

· Mondi Group

· Nampack Ltd.

· Novamont S.P.A

· Ranpak Holding Corp.

· Smurfit Kappa Group

· Stora Enso Oyj

· TetraPak International S.A.

· WestRock Co

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