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Biodegradable Packaging Market Size to Surpass USD USD 32,736.81 million by 2031 | Future Market Conslutling
Biodegradable Packaging
The biodegradable packaging market is projected to grow significantly, with its size expected to reach USD 15,844.72 million by 2023 and further expand to USD 32,736.81 million by 2031, reflecting a robust compound annual growth rate (CAGR) of 9.7% during the forecast period (2024-2031).
Consumer awareness regarding eco-friendly products, particularly in packaging, has surged in the wake of the pandemic. This growing demand is driven by the preference for ecological film and label materials, along with a strong inclination toward recyclable and biodegradable solutions across various applications.
Biodegradable packaging refers to systems derived from recovered materials through efficient manufacturing processes, often incorporating post-consumer content. Recycled materials are those repurposed after their initial use, reducing waste footprints and enhancing sustainability. The integration of such materials not only bolsters a company's eco-friendly credentials but also provides cost advantages due to the efficiency of the recycling process.
Technological advancements have spurred innovations in recyclable packaging materials, enabling producers to develop eco-friendly solutions that maintain the desired levels of protection and performance for packaged goods. This innovation has led to the introduction of new materials, forms, and production technologies, driving the market forward.
The focus on recycled packaging continues to foster frequent advancements, emphasizing the dual goals of environmental sustainability and cost efficiency.
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Key Players:
Stora Enso Oyj
Smurfit Kappa Group
WestRock Company
Georgia-Pacific LLC
Amcor plc
Pactiv Evergreen Inc.
Berry Global Group
Huhtamaki Oyj
Mondi Group
Tetra Pak International S. A
Swedbrand Groups
Winpak Ltd.
Stora Enso Oyj
Georgia-Pacific LLC
Kruger Inc.
Others
Segmentation:
By Type
• Recycled Content Packaging
• Reusable Packaging
• Degradable Packaging
By Packaging Format
• Bottle & Jar
• Boxes & Carton
• Cans
• Trays & Clamshell
• Cups & Bowls
• Pouches & Bags
• Films & Wrap
• Labels & Tapes
• Others
By Material
• Paper & Paper Board
• Bioplastic
• Bagasse
By End-User
• Food & Beverage
• Personal Care Cosmetics
• Pharmaceuticals
• Homecare
• Other Consumer Goods
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Market Dynamics
Drivers
• Growing consumer awareness about biodegradable packaging to protect the environment and reduce pollution is driving market growth.
• Biodegradable packaging, made from materials like petroleum-based bioplastics, corn-based plastics, paper, and cardboard, is recyclable, non-toxic, and decomposes easily.
• Key industries such as food & beverages, pharmaceuticals, and home care are increasingly adopting biodegradable packaging.
• Major companies like PepsiCo, Coca-Cola, Real, and Tropicana are using biodegradable materials, including compostable PET bottles and paper-plastic blends.
• Rising demand for eco-friendly and innovative packaging, especially in food and beverage sectors, is a significant growth factor.
Restraints
• Limited availability and reliability of sustainable raw materials hinder supply chains and production planning.
• High costs of transitioning to green packaging, particularly for small-scale firms, can slow adoption.
• Some biodegradable packaging types may not meet the specific requirements of certain industries, restricting market growth.
Opportunities
• Recycled plastic packaging, with a smaller carbon footprint and lower production costs, is gaining traction.
• Widely used in food and beverage sectors, recycled plastics are heat and chemical-resistant, suitable for microwaves, fridges, and freezers.
• Lightweight recycled materials like R-PET reduce transport costs and are durable, making them popular across various industries.
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Gauri Dabi | Business Development
Phone: +44 151 528 9267
Email: sales@futuremarketconsulting.com
Future Market Consulting
Website: www.futuremarketconsulting.com
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