Global Biodegradable Packaging Market trends research and projections for 2017-2024
However, recently recyclable packing has developed into a popular segment as essential part of the packing industry. Rise in consumer awareness has led to the incredible growth of overall industry. Food and beverage packing industry is likely to play a vibrant role in driving biodegradable packaging market demand.
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It begins with selection of packing material and it drives choice of packing equipment to be used and final package performance, which decides wrapping success. The material type drives the product’s features, look and consumer traits.
Biodegradation refers to a chemical mechanism under which certain microorganism transforms into natural substances including water, CO2 and compost. These products are naturally fragmented into biological agents including bacteria and fungi into raw materials, which are generally rotten by microbes and other natural bio processes. It includes those products that comprises of waste food, fabrics, paper and wood.
Product packing of primary and secondary segment is directly linked with their production and components as a vital part of the value-added mechanism of biodegradable packaging market while tertiary packing is associated with logistics. Primary packing is directly related to real product and hence, should show better retaining features as per the product necessities. Secondary packing includes films, boxes, bags and containers which products are packed along with its primary packing.
Europe and North America are projected to dominate the global biodegradable packaging market due to the presence of health and environmental conscious consumers. Some of the important industry players are Sweden, Germany, UK and Switzerland. Within North America, the US is anticipated to be the largest consumer of the product.
Latin America is expected to show promising growth on accounts of a developed manufacturing process and technological advancements in the overall value chain. Brazil is likely to be largest biodegradable packaging market in the region owing to economic expansion and growing disposable income among general buyers.
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Biodegradable packaging market is highly competitive owing to the presence of various players in small and large business segments. Key players identified in the industry include Novamont, BASF, Mondi Group, International Paper, Smurfit Kappa, Arkema, and RockTen. Some of the other prominent players in biodegradable packaging market are Be Green Packaging, Stora Enso, Biopak Pty, Cortec, Tetra Pak, Natureworks, Kruger, Georgia-Pacific, Clearwater Paper, Prolamina, Simbiousa, McNichols Co, EarthFirst Brand Films, Berkley International Packaging, RNS and Bemis Company.
Several mergers and acquisitions has been witnessed in biodegradable packaging market. In 2014, Italy based company, Novamont acquired another Italian packing company, JV Mater Biopolymer which helped the company to receive the world-famous packing facility of Patrica, Italy.
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