Press release
Biodegradable Packaging Market to Develop New Growth Story 2024 - 2031 | BASF SE, Smurfit Kappa Group, Mondi Group
Biodegradable Packaging Market
The biodegradable packaging market is estimated to be valued at USD 111.55 Bn in 2024 and is expected to reach USD 167.52 Bn by 2031, growing at a compound annual growth rate (CAGR) of 6% from 2024 to 2031.
Market Dynamics:
Rapid urbanization is expected to be a key driver for market growth over the forecast period. As urban populations expand, demand for conveniently packaged foods and goods increases. However, conventional plastic packaging ends up polluting the environment. biodegradable solutions provide an eco-friendly alternative to meet the needs of urban consumers. In addition, mounting legislation against single-use plastics across countries is prompting companies to shift toward sustainable packaging options. Government support through subsidies and standards is also encouraging production and adoption of biodegradable variants. These factors are projected to accelerate market expansion during the forecast period.
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Adoption of Compostable Flexible Packaging Presents Immense Opportunity
Traditionally, biodegradable packaging has been conveniently accessible for rigid containers and cups. However, flexible pouches and films that contain a high percentage of plastics remained difficult to recover after usage. This creates a massive roadblock in diverting valuable packaging waste from landfills and standard recycling streams to composting. Recent advances in the development of bio-based and compostable materials suitable for flexible packaging formats present a huge market opportunity. Brand owners and retailers are displaying keen interest to switch from conventional plastic laminates to commercially viable compostable flexible packaging solutions. They allow capturing the benefits of lightweight and inexpensive packages while ensuring environmental sustainability. Early commercial successes show promising market replication whenever composting infrastructure expands to support flexible compostable packaging waste. It delivers a win-win solution aligning business priorities with environmental stewardship.
Customers Increasingly Demand Sustainable Lifestyle Choices
Over the past years, sustainability has grown from a niche buzzword to a mainstream consumer consideration. Younger consumers, in particular, emphasize corporate responsibility and make purchase decisions accordingly. While earlier adopters of biodegradable products may have been primarily driven by environmental altruism, customers today expect sustainable options as standard across product categories. They want the packaging of everyday essentials like food, beverages, and personal care items to be kind to the planet. Additionally, the COVID-19 pandemic has accelerated the shift towards e-commerce, thereby increasing packaging waste. This forces both online and retail brands to rethink materials and solutions. Looking forward, demand for sustainably sourced and compostable varieties of paper, plastic and fiber-based packaging is projected to exhibit strong growth. Packaging manufacturers will need to align their portfolios to meet the rising demand for earth-friendly options reflecting the sustainability priorities of modern customers.
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Top Companies Featured in This Report:
★ BASF SE
★ Smurfit Kappa Group
★ Mondi Group
★ Rocktenn
★ Stora Enso
★ Clearwater Paper Corporation
★ Amcor
★ Novamont S.P.A.
★ Kruger Inc.
★ Reynolds Group Holding Limited
★ International Corp.
★ Solenis
★ DuPont
★ Ball Corp
★ Novamont
★ Tetra Pak International SA
★ Biopak PTY
★ Imex Packaging
★ Elevate Packaging Inc
Market Segmentation:
By Product Type:
★ By Type: Plastic and Paper
★ By End-Use Industry: Food , Beverage , Pharmaceutical , Personal/Homecare , and Others
Key Regions/Countries Classified as Follows:
» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
Key Insights from the Global Biodegradable Packaging Market Analysis:
Market Size Evaluation: Assessing the value and sales volume of the Biodegradable Packaging market spanning from 2024 to 2031.
Market Trends and Dynamics: Analyzing the drivers, opportunities, challenges, and risks influencing the Biodegradable Packaging market.
Macro-economic and Regional Impacts: Exploring how global inflation and geopolitical events affect the Biodegradable Packaging market.
Segment Analysis: Examining the market value and sales volume of Biodegradable Packaging by type and application from 2024 to 2031.
Regional Market Overview: Assessing the current situations and future prospects of the Biodegradable Packaging market in different regions.
Country-level Studies: Providing insights into revenue and sales volume for major countries within each region.
The report also delves into the competitive landscape, key players, trade patterns, industry value chain, recent news, policies, and regulations. Should you have any inquiries or require customization options, please don't hesitate to contact us.
In summary, whether you're engaged in manufacturing, distribution, or investment within the Biodegradable Packaging sector, this report furnishes invaluable insights into market segments, drivers, challenges, investment prospects, regional dynamics, major players, growth strategies, prevailing trends, and hurdles influencing the industry's expansion.
💎 Request For Customization at: @ https://www.coherentmarketinsights.com/insight/request-customization/395
Author Bio:
Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights.
(LinkedIn: https://www.linkedin.com/in/alice-mutum-3b247b137 )
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Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
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