Global Biodegradable Packaging Market is expected to grow at a significant CAGR in the upcoming years as the scope and its applications are rising enormously across the globe. Biodegradable packaging is a new trend of green living, also termed as environment friendly packaging. Biodegradable packaging comprises renewable resources that can be harvested directly from nature and can completely decompose with help of microorganisms.
The packaging is a plant-based and does not harm the surrounding. Growing customer awareness regarding the benefits of biodegradable packaging and increasing concern towards environment are documented as major factors of Biodegradable Packaging Market that are estimated to enhance the growth in the years to come. However, dearth of government support in developed countries may restrain overall market growth in the coming years. Biodegradable Packaging Market is segmented based on type, product types, materials, application, and region. Synthetic and natural are the types that could be explored in Biodegradable Packaging in the forecast period.
Polybutylene succinate (PBS), Poly-3-Hydroxybutyrate (PHB), Polycaprolactone (PCL), Cellulose-Based Plastics, Starch-Based Plastics, Polylactic Acid (PLA), and Polyhydroxyalkanoates (PHA) are the product types that could be explored in Biodegradable Packaging in the forecast period. Boxboard, corrugated board, flexible paper, and other material types could be explored in Biodegradable Packaging in the forecast period. Applications into electronic packaging, food packaging, beverage packaging, pharmaceutical & biomedical packaging, cosmetics, and others may classify Biodegradable Packaging in the forecast period. Food & beverage sector accounted for the substantial market share of Biodegradable Packaging and is estimated to lead the overall market in the coming years. Biodegradable Packaging Market is segmented geographically into Americas (North America, South America, and Latin America), Europe (Eastern Europe, Western Europe), Asia Pacific, Latin America, Middle East and Africa.
Globally, North America and Europe accounted for the majority market share of Biodegradable Packaging and is estimated to lead the overall market in the coming years. The reason behind the overall market growth could be presence of key manufacturers in the region, strict government policy against use of plastic, and presence of consumers spending high on biodegradable packaging. However, Asia Pacific is estimated to grow at fastest pace with the highest CAGR in the foremost period. The aspects that may be ascribed to the growth comprise growing population, government initiative for promoting the use of biodegradable packaging material, and rising investment in research and development for producing innovative products. The developing countries like India and China are the major consumers of Biodegradable Packaging in the region.
The key players of Biodegradable Packaging Market are DS Smith, Be Green Packaging, CAN-PACK, Biopak, Prolamina Corp, BASF, RPC Group, International Paper, Amcor, Mondi, Bemis Company, Smurfit Kappa, AR Metallizing, Stora Enso, Green Packaging, Nature Works, Cortec Corporation, and Delta Packaging. These players are concentrating on inorganic growth to sustain themselves amongst fierce competition. As companies all over the world have to believe that alliance with a market would permit them proportional market existence and authority to declare the leadership position. This report studies the global Biodegradable Packaging market status and forecast, categorizes the global Biodegradable Packaging market size (value & volume) by manufacturers, type, application, and region. This report focuses on the top manufacturers in North America, Europe, Japan, China, India, Southeast Asia and other regions (Central & South America, and Middle East & Africa).
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