Summary
Major players in the biodegradable paper and plastic packaging market are Riverside Paper Co Inc., SmartSolve Industries, Ultragreen, Tetra Pak Private Limited, Kruger Inc., Amcor PLC, Mondi, International Paper, Smurfit Kappa, WestRock Company, Bemis Manufacturing Company, BASF SE, Clearwater Paper Corporation, Stora Enso, and RockTenn Co.
The global biodegradable paper and plastic packaging market is expected to grow from $10.77 billion in 2022 to $11.86 billion in 2023 at a compound annual growth rate (CAGR) of 10.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The biodegradable paper and plastic packaging market is expected to reach $17.28 billion in 2027 at a CAGR of 9.9%
The biodegradable paper and plastic packaging market consist of the sales of bags, pouches, containers, boxes, cups, trays, and wraps made from biodegradable materials.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Biodegradable paper and plastic packaging refers to the form of packaging that will naturally disintegrate and decompose. Biodegradable packaging can minimize water use, solid waste, electricity consumption, and greenhouse gas emissions.
Asia-Pacific was the largest region in the biodegradable paper and plastic packaging market in 2022. The regions covered in biodegradable paper and plastic packaging report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa
The main biodegradable paper and plastic packaging types are starch based plastic, cellulose based plastic, polylactic acid (pla), polyhydroxyalkanoates (pha), and others.Starch-based plastic refers to intricate mixtures of starch with biodegradable plastics like PLA, PBAT, PBS, PCL, and PHAs.
The various materials used are paper and plastic applied in beverage packaging, personal and home care packaging, electronic appliance packaging, food packaging, pharmaceutical packaging, and others.
The rising preference for eco-friendly products is expected to propel the growth of the biodegradable paper and plastic packaging market going forward.Eco-friendly refers to products that are earth-friendly or not damaging to the environment.
Customers increasingly prefer eco-friendly products for packaging due to environmental concerns, health and safety considerations, corporate social responsibility, and regulatory compliance.This eco-friendly packaging uses an eco-friendly product that uses alternative, recyclable or biodegradable materials.
For instance, in July 2022, according to Meyers, a US-based, sustainable printing solutions provider, from a study of more than 10,000 people across 17 countries, 60% of consumers worldwide value sustainability as a purchasing factor, with the U.S. boasting a ratio of 61%, which is slightly higher than the global average. Further, in 2021, according to Simon-Kucher, German-based pricing and growth specialist, out of 10,281 respondents, 78% of global consumers feel that environmental sustainability is essential, and 34% are willing to pay more for sustainable products. Therefore, the rising preference for eco-friendly products drives the growth of biodegradable paper and plastic packaging.
The increasing number of product innovations is a key trend gaining popularity in the biodegradable paper and plastic packaging market.Major market players are concentrating their efforts on creating innovative technologies such as biodegradable packaging (plant-based plastics), digital printing, edible packaging, compostable packaging, recyclable packaging, and the use of nanotechnology in packaging.
For instance, in February 2023, ProAmpac, a US-based flexible packaging company, launched ProActive Recyclable Paper-1000, a new curbside recyclable paper-based packaging.It is specially made to be heat-sealable and has great directional tear qualities in addition to a good moisture barrier.
It delivers high performance suited for frozen food applications and secondary packaging applications. It has optimum stiffness for enhanced shelf appearance and a very good moisture barrier.
In May 2022, Inno-Pak, a US-based manufactures of a wide range of eco-friendly packaging products acquired Stalk Market for an undisclosed amount.With this acquisition, Inno-Pak focuses on expanding our compostable product offering reinforcing the commitment to provide innovative, cost-effective, sustainable packaging solutions to the supermarket, C-store, and food service industries.
Stalk Market is a US-based Manufacturer of biodegradable plant-based goods and packaging for the restaurant and commercial foodservice industries.
The countries covered in the biodegradable paper and plastic packaging market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The biodegradable paper and plastic packaging market research report is one of a series of new reports that provides biodegradable paper and plastic packaging market statistics, including biodegradable paper and plastic packaging industry global market size, regional shares, competitors with a biodegradable paper and plastic packaging market share, detailed biodegradable paper and plastic packaging market segments, market trends and opportunities, and any further data you may need to thrive in the biodegradable paper and plastic packaging industry. This biodegradable paper and plastic packaging market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
