In the U.S., growing consumer awareness and supportive government regulations are set to boost the demand for biodegradable packaging. By 2032, the U.S. is expected to dominate around 80% of the North American biodegradable packaging market. The United States Environmental Protection Agency (EPA) reports a staggering 80 million metric tons of annual packaging waste, prompting many companies to commit to eco-friendly packaging solutions. These factors are poised to drive the adoption of biodegradable packaging in the country.
The biodegradable packaging market has witnessed significant growth in response to the escalating global concern over plastic waste and its environmental impact. Biodegradable packaging materials are designed to decompose naturally, reducing the burden of pollution and landfill waste. These eco-friendly alternatives, made from renewable resources like plant-based materials or compostable polymers, are gaining popularity across various industries, including food and beverage, cosmetics, and healthcare.
Governments and consumers worldwide are increasingly endorsing biodegradable packaging solutions as a sustainable choice. As the push for environmental consciousness intensifies, the biodegradable packaging market is poised for continued expansion, shaping a greener future for packaging solutions.
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The global biodegradable packaging market is anticipated to reach US$ 448.2 Bn in 2022 and continue to grow at a CAGR of 6.1% from 2022 to 2032, according to data from Future Market Insights. By the end of 2022, it is predicted that the top 3 nations will control about 25–30% of the global market for biodegradable packaging.
Around 45% of the worldwide packaging business, estimated to be valued US$ 980 billion in 2021, is made up of biodegradable packaging. The biodegradable packaging industry will surpass US$ 440 Bn in 2021, per the FMI estimate. The market for biodegradable packaging is expected to grow at a CAGR of 6.1% from 2022 to 2032.
A recent study by ESOMAR-certified consulting firm Future Market Insights projects a positive outlook for the Biodegradable Packaging market over the forecast period. The report gives a detailed outlook about the ongoing changes and advancements that are expected to augment growth in the Biodegradable Packaging market. With a unique approach and extensive data analysis, FMI presents a detailed perspective on the market, key growth drivers, threats and challenges that market players are likely to face during the forecast period.
According to the study, the Biodegradable Packaging market is expected Technological advancements in the packaging industry across various verticals will enable growth in the market. Increasing investment in research and development activities and the adoption of information technology within the industry will create growth opportunities. FMI’s latest report gives significant details about the current and upcoming market scenario for an optimized assessment of the market.
COVID-19 Impact Analysis:
Following the outbreak of COVID-19, the packaging industry is expected to witness moderate growth after a steep fall. Soaring development in various sectors of packaging including the increased R&D activities from the prominent players has led the Biodegradable Packaging market in a positive direction. Manufacturers are more focused on sustainability as a key strategy to maintain their position in the industry during a time of crisis.
FMI provides extensive information on growth strategies that will aid the players to tackle the impact of a pandemic on the global Biodegradable Packaging market. This detailed chapter will give the market players information on the market scenario following the outbreak of COVID-19 and its impact on the industry across major regions. With various infographics and detailed data sets, the market players are provided with market intelligence solutions that are accurate, transparent and reliable for the upcoming decade.
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Why Choose Future Market Insights
- Serving domestic and international clients 24/7
- Strives to deliver optimized and accurate results
- Data collected from reliable primary and secondary sources
- Highly trained and experienced team of research analysts
- Deliver market reports with precision and diligence
Market Segmentation:
In-depth analysis of FMI’s Biodegradable Packaging market report has been further classified into key segments and sub-segments.
- By Material
- Plastic
- Paper
- By Application
- Food & Beverage
- Pharmaceutical
- Personal Care / Home Care
- Others
Competitive Analysis:
The latest report on the Biodegradable Packaging market by FMI gives an unbiased analysis of the top 10 leading companies operating in the Biodegradable Packaging market. It provides detailed segmentation of the market players’ product launches, strategic mergers and acquisitions and revenue prospects that will aid the players to gain a competitive edge in the industry.
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Key players:
- Smurfit Kappa Group
- BASF SE
- International Paper
- Stora Enso
- Clearwater Paper Corporation
- Biopac, Georgia-Pacific LLC
- Rocktenn
- Natureworks LLC
- Novamont S.P.A
Significant Contributions to the Report
- Key Trends and Opportunities: Comprehensive analysis on the industry ongoing trends and opportunities for market players in different regions across the globe
- Recent Challenges and Forecasts: Detailed assessment on the challenges, technological advancements, and forecast for the upcoming decade.
- Segmental Analysis: Extensive research on each segment and factors differentiating the role of these segments in market revenue forecasts and growth rate analysis
- Regional Market Forecast: Thorough analysis of each regional market to arm stakeholders with the necessary information to make critical decisions.
Author
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show – Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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