Global Biodegradable Packaging Market Highlights Over 2022 - 2031

The global biodegradable packaging market is estimated to garner around USD 160 billion in revenue by 2031 by growing at a CAGR of nearly 6% over the forecast period, i.e., 2022 –  2031. The growth of the market can be attributed to the rising trend of online food delivery. Nearly 26% user penetration is expected in online food delivery in 2022, and by 2026, the number of users opting for online food delivery services is estimated to reach nearly 2,700 million.

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Additionally, an increase in waste production on the back of a rapidly growing population and urbanization is also expected to boost the market growth. According to The World Bank, the annual waste generation is expected to increase by 70% from 2016 levels to reach 3.40 billion tons in 2050.

The COVID-19 pandemic had a negative impact on the biodegradable packaging market on the back of the lockdown imposed by the government which resulted in a huge disruption in supply chain of raw materials, and further, adversely affected the production cycle of biodegradable packaging material.

High recycling and manufacturing costs and poor infrastructure available for recycling processes are the key factors restraining the growth of the market.  

The market is segmented by application into food packaging, beverage packaging, pharmaceutical packaging, personal & home care packaging, and others. Among these segments, the beverage packaging segment is anticipated to hold the major share over the forecast period. The growth of the segment can be attributed to the high demand for non-alcoholic beverages and bottled water over the growing need for high-quality drinking water, the fear of diseases on drinking polluted tap water, and the ease of portability and convenience provided by bottled water. For instance, according to the International Bottled Water Association (IBWA), in 2020, 91% of Americans say bottled water should be available wherever other drinks are sold.

Global Biodegradable Packaging Market Regional Synopsis

Regionally, the global biodegradable packaging market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. The market in the Asia Pacific region is estimated to witness significant growth over the forecast period on the back of rising awareness regarding environmentally-friendly packaging for food delivery orders. For instance, in China, over 88% of food delivery consumers were willing to pay extra for environmentally-friendly packaging in 2020. Additionally, increasing consumption of ready-to-eat meals, rising urbanization, hectic lifestyles, and high disposable income are also predicted to boost the demand for biodegradable packaging in the upcoming years. 

Market Segmentation

Our in-depth analysis of the global biodegradable packaging market includes the following segments:

By Product Type

• Plastic

• Paper

By Application

• Food Packaging

• Beverage Packaging

• Pharmaceuticals Packaging

• Personal & Home Care Packaging

• Others

By Distribution Channel

• Wholesalers

• Retailers

• Distributors

• Resellers

• Others

Growth Drivers and Challenges Impacting the Growth of the Global Biodegradable Packaging Market

Growth Drivers

• Rising trend of online food delivery

• Increase in waste production on the back of a rapidly growing population and urbanization

Challenges

• High recycling and manufacturing costs

• Poor infrastructure available for recycling processes

Key Companies Dominating the Global Biodegradable Packaging Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global biodegradable packaging market that are included in our report are Amcor plc, Sealed Air, Mondi, Tetra Pak, Elevate Packaging, Ball Corporation, BASF SE, Georgia-Pacific LLC, Holmen Paper (Holmen Group), International Paper, and others.

Latest Developments in the Global Biodegradable Packaging Market:

• February 2021: Mondi launched a range of new paper-based release liners which were formed using recycled and light-weight materials, and offer more sustainable solutions for a range of applications.

• September 2020: Amcor plc. declared the world's first recyclable flexible retort pouch, which uses Amcor's AmLite HeatFlex Recyclable solution, and has the potential to be used in diversity of retort applications where products with a long shelf life require high-barrier, and high-heat resistant packaging.

Key Reasons to Buy Our Report

• The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.

• The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.

• We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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