Press release
Compostable Packaging Market Forecast 2024-2033 - Major Trends, Segments And Fastest Growing Regions
Compostable Packaging Global Market Report 2024
Ready to Dive into Something Exciting? Get Your Free Exclusive Sample of Our Research Report @
https://www.thebusinessresearchcompany.com/sample.aspx?id=16658&type=smp
According to The Business Research Company's, The compostable packaging market size has grown strongly in recent years. It will grow from $85.65 billion in 2023 to $92.56 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to increasing consumer awareness about environmental impact, the regulatory push towards reducing plastic waste, the rise of bio-based and renewable feedstocks for packaging materials, the growth of sustainable and eco-friendly product trends, and corporate sustainability initiatives and goals.
The compostable packaging market size is expected to see strong growth in the next few years. It will grow to $127.08 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The growth in the forecast period can be attributed to stricter regulations on plastic use and waste management, rising demand for sustainable packaging solutions from industries, increasing advancements in compostable packaging materials, growing food and beverage industry, and increasing investment and innovation in circular economy solutions. Major trends in the forecast period include expansion of composting infrastructure and facilities, integration of IoT and smart packaging in compostable products, advances in compostable materials technology, adoption of compostable packaging in e-commerce and food delivery sectors and shift towards multi-layer compostable films for better functionality and barrier properties.
Get The Complete Scope Of The Report @
https://www.thebusinessresearchcompany.com/report/compostable-packaging-global-market-report
Market Drivers and Trends:
The increasing food and beverage industry is expected to propel the growth of the compostable packaging market going forward. The food and beverage industry encompasses the production, processing, distribution, and sale of edible goods and drinks for consumption. The food and beverage industry is growing due to the increasing global population, changing consumer preferences towards healthier and more convenient options, and innovation in product development and distribution channels. Compostable packaging is required in the food and beverage industry to reduce plastic pollution, meet consumer demand for environmentally friendly products, and comply with regulations promoting sustainable practices. For instance, in September 2022, according to a report published by Statistics Sweden, a Sweden-based government agency, the revenue from food and beverage sales reached $37.44 billion (SEK 334 billion), reflecting a 2.9% increase driven by a 2.5% rise in sales volume. Additionally, prices for food and beverages saw a slight 0.4% increase, contributing to this growth. Therefore, the increasing food and beverage industry is driving the growth of the compostable packaging market.
Major companies operating in the compostable packaging market are focusing on developing technologically advanced products, such as plastic-free packaging, to enhance the performance and sustainability of their packaging solutions. Plastic-free packaging refers to packaging solutions that do not contain any plastic materials, utilizing alternative sustainable materials to reduce environmental impact. For instance, in June 2021, BioPack Solutions, a UK-based packaging company, launched a range of plastic-free picnic packs. The unique feature of this packaging lies in its use of sugarcane pulp, a by-product of sugar production that is home-compostable, rapidly renewable, and biodegradable, enabling customers to enjoy completely waste-free gatherings. The new design also includes the product image printed on the box, eliminating the need for plastic windows.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
BASF SE, Mitsubishi Chemical Corporation, WestRock Company, International Paper Company, Amcor Plc, Smurfit Kappa, Stora Enso, DS Smith, Mondi Plc, Rengo Co. Ltd, Huhtamaki Oyj, Klabin SA, Clearwater Paper Corporation, Holmen Iggesund, Carvajal Empaques S.A., Vegware Ltd., NatureWorks LLC, Plantic Technologies Ltd., Novamont SpA, SmartSolve LLC, TIPA Corp., Biome Technologies Plc, Total Corbion PLA BV, Reyma Oficial, Ultra-Green Packaging Inc.
Compostable Packaging Market 2024 Key Insights:
• The compostable packaging market size is expected to see strong growth in the next few years. It will grow to $127.08 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%.
• The Rising Food And Beverage Industry Fuels Growth In The Compostable Packaging Market
• Development Of Innovative Technologies And Eco-Friendly Designs In The Compostable Packaging Market
• North America was the largest region in the compostable packaging market in 2023
We Offer Customized Report, Click @
https://www.thebusinessresearchcompany.com/Customise?id=16658&type=smp
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ "
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Compostable Packaging Market Forecast 2024-2033 - Major Trends, Segments And Fastest Growing Regions here
News-ID: 3716248 • Views: …
More Releases from The Business Research Company
Key Strategic Developments and Emerging Changes Shaping the Stadium Seating Mark …
The stadium seating market is steadily developing, driven by advancements in technology and evolving consumer preferences. With increasing focus on sustainability and fan experience, this sector is preparing for notable growth in the coming years. Let's explore the current market size, key players, trends, and segment dynamics shaping the stadium seating landscape.
Stadium Seating Market Size and Growth Forecast
The stadium seating market has expanded consistently over recent times. It…
Leading Companies Fueling Growth and Innovation in the Running Shoes Market
The running shoes market has experienced remarkable growth recently, driven by evolving consumer preferences and technological advancements. As more people prioritize fitness and comfort, the market is positioned for further expansion. Let's explore the current market size, key players, driving forces, and future trends shaping this industry.
Running Shoes Market Size and Growth Projections
The running shoes market demonstrated robust growth over the past few years, expanding from $50.98 billion…
Key Trends and Emerging Changes Shaping the Wood Products Market Landscape
The wood products industry has been witnessing significant expansion, driven by various factors influencing demand and production. Understanding the current market scale, key players, and emerging trends offers a clearer picture of how this sector is evolving and what lies ahead by 2029.
Projected Growth of the Wood Products Market Size by 2029
The wood products market has experienced robust growth in recent years and is anticipated to continue on…
Segment Evaluation and Major Growth Areas in the Cannabis Vaporizers Market
The cannabis* vaporizers market has witnessed significant expansion recently, driven by changing perceptions and regulatory landscapes surrounding cannabis* use. As more regions legalize cannabis* and consumers become increasingly health-conscious, the demand for safer alternatives to traditional smoking methods continues to rise. Let's explore the current market size, key players, emerging trends, and segmentation insights shaping this evolving industry.
Steady Growth Outlook for the cannabis* Vaporizers Market by 2029
The cannabis*…
More Releases for Compostable
Compostable Packaging Market Size, Share & Growth Trends 2025-2035 | Global Comp …
When Waste Becomes Worth | How the Compostable Packaging Market Is Redefining Industrial Material Logic
For most of packaging's history, waste was an afterthought - buried, burned, or shipped away. Now, it's the starting point.
The transformation underway is not cosmetic or moral; it's structural.
Compostability has stopped being a sustainability label and started becoming a material category - one that links profitability with planetary limits through chemistry, regulation, and consumer behavior.
The real…
How Compostable PLA Straws Help the Environment
Compostable PLA straw [https://www.naturecutlery.com/qh-st-5-5-x-200-mm-biodegradable-pla-drinking-straw-in-bulk-package-2-product/]s are emerging as one of the key solutions to the global plastic crisis. Made from renewable materials like corn starch, these straws are an eco-friendly alternative to traditional plastic straws. Here's a closer look at how compostable PLA straws can have a positive impact on the environment and why they're a smart choice for businesses focused on sustainability.
1. Reduce Plastic Waste Accumulation
Traditional plastic straws are single-use…
Compostable Plastic Market Stunning at 12.3% CAGR
A new business intelligence report released by USD Analytics with the title "Global Compostable Plastic Market Report 2030 " has abilities to rise as the most significant market worldwide as it has remained playing a remarkable role in establishing progressive impacts on the universal economy. The Global Compostable Plastic Market Report offers energetic visions to conclude and study the market size, market hopes, and competitive surroundings. The research is derived…
The Environmental Impact of Compostable Plastics
Allied Market Research published a report, titled, "Compostable Plastic Market by Type (Home Compostable Plastic [BioPBS FD92, BWC BF 90A, Ecopond Flex 162], and others), and by Application (Compostable cutlery, Compostable bag, Compostable straw, Compostable gloves, Compostable cup (cold cup), Compostable tray/dish): Opportunity Analysis and Industry Forecast, 2020-2027." According to the report, the global compostable plastic industry generated $991.2 million in 2019, and is expected to reach $3.10 billion by…
North America Compostable Foodservice Packaging Market
The compostable foodservice packaging market in North America was valued at US$ 4,051.36 million in 2019 and is projected to reach US$ 6,139.42 million by 2027; it is expected to grow at a CAGR of 5.5% from 2020 to 2027.
According to The Business Market Insights North America Compostable Foodservice Packaging Market report 2027, discusses various factors driving or restraining the market, which will help the future market to grow…
Modwrap revolutionizes Clothing Industry with Compostable Packaging
Modwrap, a leading packaging company, is proud to announce the launch of our new line of compostable bags for the clothing industry. We understand the impact that traditional packaging materials have on the environment and are committed to providing sustainable solutions for our customers.
The clothing industry is one of the largest contributors to pollution and waste, and packaging is a significant part of that problem. Traditional packaging materials, such as…
