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Soaring Demand Set to Propel Compostable Packaging Market to $132.65 Billion by 2029
Compostable Packaging
What Is the Expected CAGR for the Compostable Packaging Market Through 2025?
The compostable packaging market has experienced strong growth in recent years. It will increase from $92.56 billion in 2024 to $99.46 billion in 2025, at a CAGR of 7.5%. Earlier growth was supported by rising environmental awareness, government actions to curb plastic waste, adoption of bio-based materials, expansion of eco-friendly product trends, and corporate sustainability goals.
What's the Projected Size of the Global Compostable Packaging Market by 2029?
A strong growth trajectory is forecasted for the compostable packaging market over the impending years, expecting to reach a valuation of $132.65 billion in 2029 with a robust 7.5% compound annual growth rate (CAGR). This projected growth during the forecast period can be credited to the tightened regulations on plastic use and waste disposal, the growing industry demand for sustainable packaging methods, advancements in the development of compostable packaging materials, growth in the food and beverage industry, and increased investments and innovations in circular economy solutions. The expansion of composting facilities and infrastructure, the incorporation of IoT and intelligent packaging in compostable goods, advancements in compostable material technology, the adoption of compostable packaging in the e-commerce and food delivery sectors, and the shift towards multi-layer compostable films for improved function and barrier characteristics are among the key trends expected to dominate the forecast period.
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Top Growth Drivers in the Compostable Packaging Industry: What's Accelerating the Market?
The surge in the food and beverage sector is projected to boost the compostable packaging market's expansion in the future. The sector, which encompasses the creation, processing, distribution, and selling of consumable foods and drinks, is growing. This expansion is due to factors such as a rising global population, shifting consumer preferences towards more nutritious and convenient options, and innovations in product evolution and delivery systems. The need for compostable packaging in the food and beverage sector arises from the need to curtail plastic pollution, satisfy consumers' demand for eco-friendly products, and adhere to regulations that advocate sustainable practices. For example, a report by Statistics Sweden, a government agency in Sweden, indicated that in September 2022, the earnings from food and beverage sales amounted to $37.44 billion (SEK 334 billion). This represents a growth of 2.9%, fueled by a 2.5% surge in sales volume. Moreover, a marginal rise of 0.4% in food and beverage prices contributed to this growth. Hence, the escalating food and beverage sector propels the growth of the compostable packaging market.
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What Trends Will Shape the Compostable Packaging Market Through 2029 and Beyond?
Major firms in the compostable packaging industry are concentrating on the creation of technologically superior products, such as flexible compostable packaging options, to boost the efficiency and sustainability of their packaging solutions. Compostable flexible packaging options are eco-friendly, biodegradable substances that break down naturally, minimizing environmental effects while maintaining product quality and longevity. For example, Pakka, a Swiss company with a specialty in compostable, sustainable packaging solutions, debuted a new range of flexible compostable packaging options specifically for the Fast-Moving Consumer Goods (FMCG) industry in September 2024. This product line includes three distinct choices designed for the delivery of high-end food products.
What Are the Main Segments in the Compostable Packaging Market?
The compostable packaging market covered in this report is segmented -
1) By Material: Polylactic Acid (PLA), Wheat Straw Fiber, Talc-Filled Polylactic Acid (TPLA) And Crystallized Polylactic Acid (CPLA), Cellulose, Bamboo, Polyhydroxyalkanoate (PHA), Other Materials
2) By Application: Bags, Pouches, Trays, Tapes, Mailer Bags, Films, Clamshells
3) By End Use: Food And Beverages, Pharmaceuticals, Personal Care And Cosmetics, Other End Uses
Subsegments:
1) By Polylactic Acid (PLA): PLA-Based Films, PLA-Coated Papers, PLA Containers and Trays
2) By Wheat Straw Fiber: Wheat Straw Paper and Board, Wheat Straw-Based Molded Packaging
3) By Talc-Filled Polylactic Acid (TPLA) and Crystallized Polylactic Acid (CPLA): TPLA-Based Packaging, CPLA-Based Cutlery, Cups, and Containers
4) By Cellulose: Cellulose Films, Cellulose-Based Wraps and Containers, Cellulose Fiber Packaging
5) By Bamboo: Bamboo Fiber Packaging, Bamboo Trays, Plates, and Cutlery, Bamboo-Based Containers
6) By Polyhydroxyalkanoate (PHA): PHA-Based Films and Wraps, PHA Containers and Packaging
7) By Other Materials: Mushroom Packaging, Seaweed-Based Packaging, Palm Leaf Packaging, Cornstarch-Based Packaging
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Which Top Companies are Driving Growth in the Compostable Packaging Market?
Major companies operating in the compostable packaging market are 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.
Which Regions Will Dominate the Compostable Packaging Market Through 2029?
North America was the largest region in the compostable packaging market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the compostable packaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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