Biodegradable Paper and Plastic Packaging Market Size By Type (Starch Based Plastic, Cellulose Based Plastic, Polylactic Acid (PLA), Polyhydroxyalkanoates (PHA)), By Material (Paper, Plastic), By End-user (Food and Beverage, Catering Service Wares, Person

Biodegradable Paper and Plastic Packaging Market Size By Type (Starch Based Plastic, Cellulose Based Plastic, Polylactic Acid (PLA), Polyhydroxyalkanoates (PHA)), By Material (Paper, Plastic), By End-user (Food and Beverage, Catering Service Wares, Personal and Home Care, Healthcare), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2022-2030

The global biodegradable paper and plastic packaging market is anticipated to grow significantly through 2030. Growing concerns related to plastic waste generation are exerting pressure on businesses to find environmentally friendly choices for product packaging.
Several manufacturers have introduced innovative methods for creating sustainable packaging that not only preserves the freshness of content, provides convenience, and food safety, but also minimizes the environmental impact. For example, companies have started using beer boxes produced by using recycled barley straw, and molded pulp rings for cans of soda. Such initiatives are augmenting the industry outlook.
As per type, by 2030, the starch-based plastic segment is anticipated to see exponential development due to its growing use in the food and beverage sector. One of the most abundant biopolymers is starch. It is entirely biodegradable, cheap, renewable, and has a simple chemical process. Evidently, (modified) starch-based bioplastics have drawn more interest as biodegradable substitutes for traditional petroleum-based plastics in recent times, which is pushing segment growth.
Based on material, biodegradable paper and plastic packaging industry is likely to gain traction from the plastic segment over the forecast period. Biodegradable plastic is any plastic that can be broken down by living organisms. Commonly, renewable raw resources are used to manufacture biodegradable polymers. Consumer inclination toward sustainability has increased the use of biodegradable plastic for disposables including packaging, cutlery, crockery, and food service containers in the expanding food & beverage industry. Additionally, supportive government policies have proven to be economically lucrative for market expansion.
In terms of end-user, the food and beverage segment is estimated to generate significant revenues for the market by 2030. Since customer preferences are changing and the world's population is increasing, sustainability is a major challenge in the food & beverage sector. A significant percentage of the land use, emissions, waste, and other environmental problems faced by our civilization today can be attributed to the food business.
Businesses are putting a fresh emphasis on conserving water, electricity, and resources so as to make more environment-friendly decisions. This sustainability is achieved while delivering premium food items that satisfy customer demand and feed the world. The expanding food and beverage industries will increase demand for biodegradable paper and plastic packaging in the coming years.
Regionally, there are a plethora of prospects for expansion in the LATAM biodegradable paper and plastic packaging market. Due to the availability of several local producers, the emphasis is on offering inexpensive solutions. With increasing government measures to promote eco-friendly products, the Latin American market is predicted to develop at a respectable rate.
In the coming years, strategic partnerships and acquisitions will support industry expansion. As a result of cutting-edge products and R&D, the market will continue to grow further. For instance, Mondi plc, a global leader in sustainable packaging and paper, collaborated with German machine provider beck packautomaten in May 2022, in order to develop a flexible and durable paper-based packaging solution for ecommerce customers.