Biodegradable Packaging Market Set to Soar to $765.02 Billion by 2031 Driven by Eco-conscious Consumer Choices and Stringent Environmental Regulations

Market Sizing
The Biodegradable Packaging Market valued at USD 472.80 billion in 2023, is poised to reach USD 765.02 billion by 2031, with a projected CAGR of 6.2% during 2024-2031.

Market Report Scope
In response to escalating environmental concerns, FMCG companies are shifting towards sustainable packaging solutions. Legislative mandates and consumer preferences are driving this change. The National Action Plan for Sustainable Plastic Management outlines ambitious targets, prompting FMCG players to collaborate with bio packaging firms. This collaboration fosters innovation and addresses waste management challenges.

Major Key Players Included are:
- Amcor
- Mondi Group
- WestRock Company
- Smurfit Kappa Group
- International Paper Company
- DS Smith Plc
- Sealed Air Corporation
- Stora Enso
- Georgia-Pacific LLC
- Evergreen Packaging

Market Analysis
The dominance of degradable packaging is evident, fueled by sustainability initiatives. Efforts from industry stakeholders drive recycling rates and favor the expansion of this segment. Biodegradable packaging, particularly paper & paperboard, leads the market due to its eco-friendly nature and versatility.

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Segment Analysis
By Material: Paper & paperboard segment dominates due to its biodegradability and versatility, capturing approximately 82% market share by 2032.
- Bio-Plastic
- Polylactic Acid (PLA)
- Cellulose-based
- Starch-based
- Polybutylene succinate
- Others (Protein-based plastics etc.)
- Bagasse
- Paper & Paperboard
- Kraft Paper
- Flexible Paper
- Corrugated Fiberboard
- Boxboard

By Type: Degradable packaging leads, supported by sustainability initiatives and industry efforts.
- Recycled Content Packaging
- Degradable Packaging
- Reusable Packaging

By Packaging Format: Boxes and cartons dominate, reflecting the preference for
rigid packaging across industries.
- Bottles & Jars
- Labels & Tapes
- Boxes & Cartons
- Cans, Cups & Bowls
- Trays & Clamshells
- Pouches & Bags
- Films & Wraps
- Others

By Application: Food & beverage sector leads, especially convenience foods, due to their portability and extended shelf life.
- Food & Beverages
- Healthcare
- Personal Care

By Distribution Channel: Wholesalers segment holds the lead, driven by increasing global demand in the commercial food and beverage sector.
- Wholesalers
- Retailers
- Distributors
- Resellers

Regional Analysis
North America commands a significant share, buoyed by technological advancements and stringent regulations. Europe is poised for substantial growth, driven by its automotive industry and favorable regulatory environment.

Key Takeaways
-Biodegradable packaging's ascent is fueled by sustainability imperatives and shifting consumer preferences.
- Collaboration across industries fosters innovation, addressing waste management challenges.
- North America and Europe emerge as key markets, driven by technological advancements and regulatory mandates.

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Recent Developments
- Smurfit Kappa invested EUR 33 million in its Brazil plant for sustainable packaging production expansion.
- Mondi allocated US$ 285 million to enhance corrugated packaging capabilities, reinforcing its commitment to sustainability.
In essence, the biodegradable packaging market is on an upward trajectory, driven by environmental consciousness and industry collaboration. As sustainability becomes paramount, investments and innovations in biodegradable solutions are poised to reshape the packaging landscape.

Table of Contents - Major Key Points
1 Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2 Industry Flowchart
3 Research Methodology
4 Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5 Impact Analysis
5.1 Impact of Russia-Ukraine Crisis
5.2 Impact of Economic Slowdown on Major Countries
5.2.1 Introduction
5.2.2 United States
5.2.3 Canada
5.2.4 Germany
5.2.5 France
5.2.6 UK
5.2.7 China
5.2.8 Japan
5.2.9 South Korea
5.2.10 India
6 Value Chain Analysis
7 Porter's 5 Forces Model
8 Pest Analysis
9 Biodegradable Packaging Market Segmentation, By Material
9.1 Introduction
9.2 Trend Analysis
9.3 Bio-Plastic
9.3.1 Polylactic Acid (PLA)
9.3.2 Cellulose-based
9.3.3 Starch-based
9.3.4 Polybutylene succinate
9.3.5 Others (Protein-based plastics etc.)
9.4 Bagasse
9.5 Paper & Paperboard
9.5.1 Kraft Paper
9.5.2 Flexible Paper
9.5.3 Corrugated Fiberboard
9.5.4 Boxboard
10 Biodegradable Packaging Market Segmentation, By Type
10.1 Introduction
10.2 Trend Analysis
10.3 Recycled Content Packaging
10.4 Degradable Packaging
10.5 Reusable Packaging
11 Biodegradable Packaging Market Segmentation, By Packaging Format
11.1 Introduction
11.2 Trend Analysis
11.3 Bottles & Jars
11.4 Labels & Tapes
11.5 Boxes & Cartons
11.6 Cans, Cups & Bowls
11.7 Trays & Clamshells
11.8 Pouches & Bags
11.9 Films & Wraps
11.10 Others
12 Biodegradable Packaging Market Segmentation, By Application
12.1 Introduction
12.2 Trend Analysis
12.3 Food & Beverages
12.4 Healthcare
12.5 Personal Care
13 Biodegradable Packaging Market Segmentation, By Distribution Channel
13.1 Introduction
13.2 Trend Analysis
13.3 Wholesalers
13.4 Retailers
13.5 Distributors
13.6 Resellers
14 Regional Analysis
15 Company Profiles
16 Competitive Landscape
16.1 Competitive Benchmarking
16.2 Market Share Analysis
16.3 Recent Developments
16.3.1 Industry News
16.3.2 Company News
16.3.3 Mergers & Acquisitions
17 Use Case and Best Practices
18 Conclusion

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Akash Anand - Head of Business Development & Strategy
info@snsinsider.com
Phone: +1-415-230-0044 (US) | +91-7798602273 (IND)

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