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. The biodegradable packaging industry will surpass US$ 440 Bn in 2021, per the FMI estimate.
Core Concepts in Biodegradable Packaging Industry
- 2021 Market Value: The global biodegradable packaging market was valued at over US$ 440 billion in 2021.
- Projected Growth Rate: The market is expected to grow at a CAGR of 6.1% during the forecast period from 2022 to 2032.
- Future Market Value: By 2032, the global biodegradable packaging market is projected to reach US$ 809.9 billion.
- Demand Drivers: The rising need for eco-friendly packaging across various industries is fueling the demand for biodegradable packaging.
- Industry Leaders: Leading companies in this market include Berry Global Group, Huhtamaki Oyj, Amcor plc, WestRock Company, Mondi Group, International Paper Company, and Smurfit Kappa Group.
- Sustainability Trend: The shift towards sustainable and environmentally friendly packaging solutions is a significant trend driving market growth.
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Business Growth Opportunities:
- Innovative Materials Development: Invest in research and development to create biodegradable packaging solutions using novel materials derived from agricultural waste, algae, or other sustainable sources. Innovations in materials can provide a competitive edge and cater to the increasing demand for eco-friendly packaging options.
- Customization and Personalization: Offer customizable biodegradable packaging solutions to cater to the diverse needs of different industries and consumers. Providing options for personalized branding, sizes, and designs can attract businesses looking for unique packaging solutions while also promoting sustainability.
- Supply Chain Integration: Integrate vertically in the supply chain by collaborating with suppliers and manufacturers to ensure a consistent and reliable source of biodegradable materials. Developing strong relationships with suppliers can help in securing quality materials at competitive prices, ensuring smooth production processes, and maintaining a sustainable supply chain.
- Market Expansion Strategies: Explore new geographical markets and industries where there is a growing demand for eco-friendly packaging solutions. Conduct market research to identify emerging trends and consumer preferences in different regions, and tailor marketing strategies to effectively penetrate new markets.
- Partnerships and Collaborations: Form strategic partnerships and collaborations with retailers, e-commerce platforms, and industry associations to promote the adoption of biodegradable packaging solutions. Collaborative efforts can raise awareness about the benefits of sustainable packaging, facilitate distribution channels, and create opportunities for mutual growth.
Key Industry Trends:
- FMCG Industry Shifts: Fast-moving consumer Goods (FMCG) producers and retailers are expanding beyond conventional lightweight packaging efforts to reduce packaging waste. Major brands are pledging to increase sustainability efforts and are exploring new approaches to packaging and distribution, including the use of returnable methods with metal and glass to reduce plastic waste.
- Innovative Packaging Solutions: FMCG firms and retailers are collaborating with upstream stakeholders, bio-packaging companies, and recyclers to meet new challenges in waste management and recyclables. This shift towards a partnership approach is creating new opportunities for bio packaging manufacturers.
- Bagasse Packaging as a Growth Opportunity:
Bagasse, a fibrous residue from crushed sugarcane, is emerging as a revolutionary material in the biodegradable packaging market. It is 100% biodegradable, compostable, and can withstand hot and cold food. Bagasse packaging is expected to gain traction due to its eco-friendly properties and government regulations banning single-use plastics.
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Country-Specific Insights:
- United States: The U.S. is projected to hold around 80% of the North American biodegradable packaging market by the end of 2032. Rising consumer awareness and favorable government regulations are driving demand for biodegradable packaging. The U.S. generates almost 80 million metric tons of packaging waste annually, prompting companies to pledge reductions in their environmental impact.
- Germany: Germany is expected to register a CAGR of 4.3% during the forecast period, driven by a ban on single-use plastic products. European countries, including Germany, have enacted legislation to reduce plastic use, creating significant growth opportunities for biodegradable packaging solutions.
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
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Biodegradable Packaging Market by Category
By Material,
- Paper & Paperboard
- Bio-plastic
- Polylactic Acid (PLA)
- Cellulose-based
- Starch-based
- Polybutylene succinate
- Others (Protein-based plastics etc.)
- Bagasse
By Packaging Format,
- Bottles & Jars
- Boxes & Cartons
- Cans
- Trays & Clamshells
- Cups & Bowls
- Pouches & Bags
- Films & Wraps
- Labels & Tapes
- Others (Stick pack, Sachets, etc.)
By End Use,
- Food & Beverage
- Personal Care & Cosmetics
- Pharmaceuticals
- Homecare
- Other Consumer Goods
By Region,
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Middle East & Africa
- Oceania
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 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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