Global Biodegradable Packaging Market is anticipated to cross USD 130 Billion by 2028.
Packaging is a technology that encloses and protects diverse products for storage, distribution, sale, and use. Increasing demand for nutritious, safe, convenient food, as well as expanding industry and consumer awareness of eco-friendly products, has been driving the worldwide biodegradable packaging market growth in recent years. The ability of materials to degrade and return to nature within a short period of time after disposal is referred to as biodegradability. Starch, polylactic acid (PLA), cellulose, polyhydroxyalkanoates (PHA), and other biodegradable polymers are used in packaging. Bio-based goods are advantageous for greenhouse gas balances due to their use of renewable resources rather than restricted resources and other environmental implications over the duration of their whole life cycles. The use of biodegradable materials is intended to enhance sustainability and reduce environmental damage caused by the disposal of oil-based polymers. With the constant demand for bottled water and non-alcoholic beverages, the market for biodegradable packaging in the beverage industry is expected to grow. Customers' propensity to want high-quality drinking water in particular; their fear of getting illnesses after drinking tainted tap water; and the portability and convenience that bottled water provides are all aspects that contribute to the demand for bottled water. Furthermore, bottled water is preferred in many developed and developing countries, and drinking water instead of soft drinks has recently gained popularity due to its health benefits. According to the International Bottled Water Association (IBWA), after consuming 13.8 Billion gallons of bottled water in 2018, Americans prefer it over other packaged beverages. According to a recent study by The Harris Poll on behalf of the International Bottled Water Association (IBWA), more than 90% of Americans expect to see bottled water wherever other beverages are sold. Various governments and organizations are attempting to eliminate the usage of single-use plastic packaging, creating a positive market climate for biodegradable packaging. In developing nations like India, where packaging waste has become a big concern, local and federal governments have moved to limit the use of single-use plastic. Several businesses have begun to move to environmentally friendly alternatives. In India, for example, a ban on certain single-use plastic items went into force on July 1, 2022. Similarly, in order to combat plastic pollution, the European Union banned single-use plastic plates, straws, cutlery, balloon sticks, cotton buds, and other items in July 2021. Furthermore, the European Union has restricted the use of expanded polystyrene cups, food and beverage containers, and all Oxo-degradable plastic items.
According to the research report, “Global Biodegradable Packaging Market Outlook, 2028” published by Bonafide Research, the market is anticipated to cross USD 130 Billion by 2028, increasing from USD 93.30 Billion in 2022. The market is expected to grow with 6.28% CAGR by 2023-28. As plastic packaging is non-biodegradable and takes 500 years to decompose, manufacturers, traders, and consumers have become increasingly worried about environmental problems. People have begun to use biodegradable and recyclable plastic or other materials for packing and labelling, such as papers or cardboard. Biodegradable packaging is made of natural substances such as petroleum and corn-based biodegradable, and these packaging materials are easy to recycle and decompose in the environment.? Consumer awareness of the importance of biodegradable packaging in protecting the environment and controlling pollution is a key factor driving the growth of the global biodegradable packaging market. Food and beverage packaging, pharmaceutical packaging, and home care product packaging are all examples of biodegradable packaging. Many major players, including Pepsi and Coca-Cola, use a recyclable PET plastic container that is easily recyclable and 100% compostable. Many other firms, including Real and Tropicana, use biodegradable packaging comprised of paper and plastic composite material. Pharmaceutical businesses are also adopting eco-friendly packaging material to pack various dosages of medicines because it is 100% safe and non-toxic in nature. Rising demand for food and drinks is a major driver of the worldwide biodegradable packaging industry. The widespread usage of starch and PLA as biodegradable packaging materials in the food and beverage and pharmaceutical industries is expected to drive the biodegradable packaging market. This is because starch and PLA polymers have considerable strength, flexibility, and recyclability. The overuse of corrugated and flexible materials for personal/homecare packaging applications is the primary driver of the biodegradable packaging market's growth.
Key Developments
·??????? In August 2023, Amcor announced the North American launch of Curbside Waste & Recycling AmFiber Performance Paper packaging, part of the company’s AmFiber portfolio. Prequalified by How2Recycle, performance paper meets the repulpability standards for curbside recycling, allowing brands to provide consumers with more sustainable end-of-life outcomes for packaging.
·??????? In May 2022, Amcor (ARP) announced the creation and launch of PowerPostTM. PowerPost technology produces nearly one-third lighter bottles with 30% less energy and 30% less carbon than most 20 oz. bottles by actively dislodging the vacuum in the container after filling.
·??????? In January 2022, Amcor PLC launched AmFiberTM, a new platform for paper-based packaging products. AmFiber's innovations aim to redefine the functionality of traditional paper packaging, offering a wider range of functional benefits to meet the changing needs of consumers. AmFiber's product is an innovative solution tailored to provide snacks and confectionery products to European customers with recyclable packaging that provides a high barrier to oxygen and moisture.
·??????? In January 2022, TIPA? Compostable Packaging , an Israeli-based company, nabbed a USD 70 million investment for developing compostable packaging solutions. According to the company, its eco-friendly films and laminates mimic the properties and functions of traditional plastic materials, including durability, barrier properties, and shelf stability.
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Regions & Countries covered in the report
North America (United States, Canada, Mexico)
Europe (Germany, United Kingdom, France, Spain, Italy, Russia)
Asia-Pacific (China, Japan, India, Australia, South Korea)
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South America (Brazil, Argentina, Colombia)
Middle-East & Africa (UAE, Saudi Arabia, South Africa)
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By Paper:
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