The global biodegradable paper and plastic packaging market is anticipated to reach a valuation of US$ 14.0 billion in 2024, driven by urbanization and changing lifestyles. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 10.1% between 2024 and 2034, and reaching a total valuation of approximately US$ 36.8 billion by 2034.
Educational initiatives and awareness campaigns conducted by governments, non profit organizations, and industry associations play a crucial role in promoting the benefits of biodegradable packaging and encouraging consumer adoption. The initiatives raise awareness about the environmental impacts of conventional packaging and highlight the advantages of biodegradable alternatives.
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Collaboration between stakeholders across different industries, including packaging, agriculture, biotechnology, and waste management, fosters innovation and drives the development of new biodegradable packaging materials, processes, and recycling infrastructure. Cross industry collaboration can accelerate the adoption of biodegradable packaging solutions and address challenges related to scalability, performance, and end of life management.
Many companies are integrating environmental sustainability into their corporate social responsibility initiatives as part of their commitment to ethical business practices. Adopting biodegradable packaging not only aligns with CSR goals but also demonstrates the dedication of a company to reducing its environmental footprint and contributing to positive social change.
Bio based plastics, derived from renewable biomass sources such as corn starch, sugarcane, and cellulose, offer a sustainable alternative to conventional petroleum based plastics. The development of bio based plastics for packaging applications enhances the biodegradable packaging product offerings of the market and reduces reliance on fossil fuels.
Key Takeaways from the Market Study
- The global market was valued at US$ 12.4 billion in 2023.
- From 2019 to 2023, the market demand expanded at a CAGR of 13.6%.
- The market in Japan is expected to expand at a CAGR of 11.7% through 2034.
- By type, the starch based plastic segment to account for a CAGR of 9.8% through 2034.
- The absolute dollar growth of the market is projected to reach a value of US$ 22.8 billion during the forecast period
- The market in the United Kingdom is expected to expand at a CAGR of 11.3% through 2034.
“Ongoing research and development in material science are driving innovations in biodegradable packaging materials with improved performance, durability, and shelf life. Novel materials, such as polyhydroxyalkanoates and polylactic acid, offer enhanced barrier properties, thermal stability, and compostability, expanding the scope of biodegradable packaging,” remarks by Ismail Sutaria (Lead Consultant, Packaging and Materials).
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Prominent players in the biodegradable paper and plastic packaging market are:
- Riverside Paper Co. Inc.
- SmartSolve Industries
- Özsoy Plastik
- Ultra Green Sustainable Packaging
- Hosgör Plastik
- Eurocell S.r.l
- Tetra Pak International SA
- Kruger Inc.
- Amcor PLC
- Mondi
Recent Development
- In 2022, Amcor PLC introduced AmFiberTM, a groundbreaking platform dedicated to paper based packaging solutions. AmFiber represents a significant leap forward in the realm of paper packaging, reimagining its capabilities to address evolving consumer demands.
- Specifically designed to cater to European markets, AmFiber offers recyclable packaging solutions with exceptional barriers against oxygen and moisture, ideal for preserving snacks and confectionery products.
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global biodegradable paper and plastic packaging market, providing historical data for 2019 to 2023 and forecast statistics from 2024 to 2034.
To understand opportunities in the biodegradable paper and plastic packaging market, the market is segmented on the basis of type (starch based plastic, cellulose based plastics, polylactic acid, polyhydroxyalkanoates), material (plastic, paper), and end user (food and beverage, catering service wares, personal and home care, healthcare, others), across seven major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and Middle East & Africa (MEA)).
About the Packaging Division at Future Market Insights
The packaging team at Future Market Insights offers expert analysis, time efficient research, and strategic recommendations with the objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 Billion+ data points, the team has been analyzing the market lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.
About Future Market Insights Inc. (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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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