Biodegradable Paper and Plastic Packaging Market Growth Rate, Statistics, Top Major Players And Forecast 2033
Global biodegradable paper and plastic packaging market size is expected to reach $19.24 Bn by 2028 at a rate of 10.2%, segmented as by type, starch based plastic, cellulose based plastic, polylactic acid (pla), polyhydroxyalkanoates (pha)
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Overview and Scope
Biodegradable paper and plastic packaging refer 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.
Sizing and Forecast
The biodegradable paper and plastic packaging market size has grown rapidly in recent years. It will grow from $11.86 billion in 2023 to $13.05 billion in 2024 at a compound annual growth rate (CAGR) of 10.1%. The growth in the historic period can be attributed to consumer demand for diverse products, cost efficiency and scalability, focus on core competencies, environmental concerns.
The biodegradable paper and plastic packaging market size is expected to see rapid growth in the next few years. It will grow to $19.24 billion in 2028 at a compound annual growth rate (CAGR) of 10.2%. The growth in the forecast period can be attributed to consumer preferences, corporate sustainability initiatives, increasing investments, collaborations and partnerships. Major trends in the forecast period include increasing environmental awareness, regulatory push for sustainability, innovation in biodegradable materials, shifting consumer preferences, technological advancements in production, collaborations and partnerships.
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Segmentation & Regional Insights
The biodegradable paper and plastic packaging market covered in this report is segmented –
1) By Type: Starch Based Plastic, Cellulose Based Plastic, Polylactic Acid (PLA), Polyhydroxyalkanoates (PHA), Other Types
2) By Material: Paper, Plastic
3) By Application: Beverage Packaging, Personal And Home Care Packaging, Electronic Appliance Packaging, Food Packaging, Pharmaceutical Packaging, Other Applications
Asia-Pacific was the largest region in the biodegradable paper and plastic packaging market in 2023. The regions covered in the biodegradable paper and plastic packaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
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.
Key Industry Players
Major companies operating in the biodegradable paper and plastic packaging market report are Riverside Paper Co Inc., SmartSolve Industries, Ultragreen, Tetra Pak Private Limited, Kruger Inc., Amcor PLC, Mondi plc, International Paper, Smurfit Kappa Group, WestRock Company, BASF SE, Stora Enso Oyj, Rock-Tenn Company, DS Smith plc, BagInCo International, Reynolds Group, Plastic Suppliers Inc., Huhtamaki Oyj, Innovia Films, Futamura Chemical Co. Ltd., NatureWorks LLC, Novamont S.p.A., Biopac UK Ltd., Vegware Ltd., Eco-Products Inc., Genpak LLC, Pactiv LLC, Be Green Packaging LLC, Green Century Enterprises Inc., BIO-ON S.p.A., TIPA Corp., Taghleef Industries
The biodegradable paper and plastic packaging market report table of contents includes:
1. Executive Summary
2. Biodegradable Paper and Plastic Packaging Market Characteristics
3. Biodegradable Paper and Plastic Packaging Market Trends And Strategies
4. Biodegradable Paper and Plastic Packaging Market - Macro Economic Scenario
5. Global Biodegradable Paper and Plastic Packaging Market Size and Growth
6. Biodegradable Paper and Plastic Packaging Market Segmentation
7. Biodegradable Paper and Plastic Packaging Market Regional And Country Analysis
……….
33. Key Mergers And Acquisitions In The Biodegradable Paper and Plastic Packaging Market
34. Biodegradable Paper and Plastic Packaging Market Future Outlook and Potential Analysis
35. Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Biodegradable Paper and Plastic Packaging Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Biodegradable Paper and Plastic Packaging Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Biodegradable Paper and Plastic Packaging Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
………….
Table 74: Riverside Paper Co Inc. Financial Performance
Table 75: SmartSolve Industries Financial Performance
Table 76: Ultragreen Financial Performance
Table 77: Tetra Pak Private Limited Financial Performance
Table 78: Kruger Inc. Financial Performance
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