Press release
Biodegradable Packaging Market Performance, Size, and Share Insights 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:
Increased penetration of bioplastics coupled with rising awareness about environment protection are expected to remain key driving factors for the biodegradable packaging market growth over the forecast period. Bioplastics are derived from renewable biomass sources like vegetable fats and oils, making them a more sustainable alternative to conventional plastics. Additionally, various government initiatives and regulations in favor of adopting eco-friendly packaging solutions are also aiding in market expansion. For instance, the European Union has banned certain single-use plastic products since 2021 to reduce plastic waste. Furthermore, major food chains and online retailers have been replacing conventional packaging with greener options to meet consumer demand for sustainable products.
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Biodegradable Packaging Market Drivers
Regulation Supporting Use of Biodegradable Packaging
Regulations around the world are increasingly focusing on reducing plastic waste and promoting use of eco-friendly and sustainable packaging solutions. Many countries and regions have either implemented or proposing bans on single-use plastic products. The European Union passed a directive in 2019 banning several commonly found single-use plastic items by 2021. Other countries like India has announced plans to eliminate single-use plastics by 2022. Such stringent regulations are driving many packaging manufacturers and consumer product companies to shift towards biodegradable and compostable packaging materials to comply with the new rules.
Biodegradable Packaging Market Opportunity
Growth in E-Commerce and Online Shopping
The booming e-commerce sector worldwide presents a major growth opportunity for biodegradable packaging manufacturers. Online shopping involves plenty of single-use packaging materials like mailing envelopes, plastic mailers, bubble wraps and air pillows for protecting shipped items. There is a growing demand for more sustainable packaging options from both customers and delivery companies. Biodegradable mailers and cushioning made from agricultural waste or corn starch for instance can provide eco-friendly solutions. Many e-tailers are actively collaborating with bioplastic producers to switch to plant-based packaging for reducing their environmental impact.
Biodegradable Packaging Market Trends
Advancements in Bioplastics Technology
Constant research and development is expanding the range of bioplastics and improving their properties. New generations of bioplastics are closing the performance gap with petro-based plastics. Examples include PHA (polyhydroxyalkanoates) bioplastics that have barrier and mechanical properties similar to PET or PE. Advancements are also happening in biochemical and chemical recycling methods to recover biopolymers from used packaging. These technological improvements will help overcome existing limitations and drive faster adoption of biodegradable packaging solutions across industries over the coming years.
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Top Companies Included 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:
Based on 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)
Latest Trends in the Navigation Biodegradable Packaging Market:
💡 Surging Demand: Witness a rising demand for navigation Biodegradable Packaging owing to the escalating usage of GPS-enabled devices and the imperative for precise, up-to-date mapping data.
💡 Innovations in Technology: Witness the emergence of novel technologies aimed at enhancing the precision and dependability of navigation Biodegradable Packaging, encompassing real-time traffic updates, 3D mapping, and augmented reality.
💡 Tailored Solutions for Diverse Industries: Companies are tailoring navigation Biodegradable Packaging solutions to cater to the distinct requirements of various sectors such as automotive, aviation, and maritime.
💡 Fusion with Emerging Technologies: Observe the integration of navigation Biodegradable Packaging with cutting-edge technologies like artificial intelligence and the Internet of Things, facilitating the provision of advanced functionalities.
💡 Rise of Mobile Applications: Experience the proliferation of navigation Biodegradable Packaging in the form of mobile applications, offering enhanced convenience and accessibility to users.
💡 Emphasis on Environmental Sustainability: Witness the development of navigation Biodegradable Packaging systems that consider environmental factors such as traffic congestion and air quality, fostering the provision of sustainable transportation alternatives.
Frequently Asked Questions (FAQs) for Global Navigation Biodegradable Packaging Market Research:
What are the critical factors that companies should prioritize when entering the Navigation Biodegradable Packaging market?
What is the growth rate of the Navigation Biodegradable Packaging Market?
What is the current size of the Navigation Biodegradable Packaging Market?
Which region demonstrates the highest growth rate in the Navigation Biodegradable Packaging Market?
Which region commands the largest share in the Navigation Biodegradable Packaging Market?
Who are the key players operating in the Navigation Biodegradable Packaging Market?
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Author Bio:
Vaagisha brings over three years of expertise as a content editor in the market research domain. Originally a creative writer, she discovered her passion for editing, combining her flair for writing with a meticulous eye for detail. Her ability to craft and refine compelling content makes her an invaluable asset in delivering polished and engaging write-ups.
(LinkedIn: https://www.linkedin.com/in/vaagisha-singh-8080b91)
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