Biodegradable Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Biodegradable Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global biodegradable packaging market size reached US$ 95.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 133.5 Billion by 2028, exhibiting a growth rate (CAGR) of 5.59% during 2023-2028.

Biodegradable packaging refers to the use of eco-friendly and recyclable materials for the packaging of goods. It is made from materials that are easily disintegrated and decomposed by microorganisms, such as bacteria, fungi, and algae. It includes packing corrugated bubble wrap, recycled cardboard, bioplastics, organic fabrics, cornstarch, seaweed, and mushroom packaging, and other plant-based materials. It helps support human and ecological health by generating less carbon footprint as compared to conventionally used synthetic packaging products. It also aids in minimizing plastic usage, which can help reduce littering issues and support environmental health.

Biodegradable Packaging Market Trends:
The increasing working population and busy schedules of individuals are catalyzing the demand for processed and ready-to-eat (RTE) food items, which is driving the need for effective packaging across the globe. In addition, the increasing use of biodegradable packaging in the food and beverage (F&B) industry due to its faster decomposition and recyclable properties is creating a positive market outlook. Apart from this, the rising awareness among individuals about the harmful impacts of non-biodegradable packaging on the health and the environment is positively influencing the market. In line with this, governments of various countries are imposing stringent regulations to put a ban on plastic products and minimize carbon emissions, which is encouraging the adoption of biodegradable packaging. Furthermore, the emerging trend of online shopping, along with the thriving e-commerce industry, is catalyzing the demand for biodegradable packaging to provide doorstep delivery of products. Additionally, various technological advancements in the packaging industry and increasing investments by leading market players in research and development (R&D) activities are expected to propel market growth in the coming years.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global biodegradable packaging market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on material type and application.

Breakup by Material Type:

Plastic
Starch-based Plastics
Cellulose-based Plastics
Polylactic Acid (PLA)
Poly-3-Hydroxybutyrate (PHB)
Polyhydroxyalkanoates (PHA)
Others
Paper
Kraft Paper
Flexible Paper
Corrugated Fiberboard
Boxboard

Breakup by Application:

Food Packaging
Beverage Packaging
Pharmaceutical Packaging
Personal/Homecare Packaging
Others

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Amcor PLC, Berkley International Packaging Limited, Biopak PTY LTD, Elevate Packaging Inc., Greenpack Limited, International Paper Company, Kruger Inc., Mondi Group, Ranpak Holding Corporation, Smurfit Kappa Group PLC, Tetra Pak International SA and Toray Plastics (America) Inc. (Toray Industries Inc).

Key Questions Answered in This Report

1. What was the size of the global biodegradable packaging market in 2022?
2. What is the expected growth rate of the global biodegradable packaging market during 2023-2028?
3. What are the key factors driving the global biodegradable packaging market?
4. What has been the impact of COVID-19 on the global biodegradable packaging market?
5. What is the breakup of the global biodegradable packaging market based on the material type?
6. What is the breakup of the global biodegradable packaging market based on application?
7. What are the key regions in the global biodegradable packaging market?
8. Who are the key players/companies in the global biodegradable packaging market?