According to a new Fact.MR analysis, the biodegradable packaging industry experienced moderate growth from 2013 to 2027, and the status quo is expected to continue from 2018 to 2028. Volume sales of biodegradable packaging are expected to grow at a modest 4.2% CAGR through 2028, with a market value in excess of US$ 703 billion. According to the analysis, tier 3 businesses would continue to account for more than three-fifths of the biodegradable packaging industry.
The global biodegradable packaging materials market is estimated at USD 88 Billion in 2022 and is forecast to surpass USD 169 Billion by 2032, growing at a CAGR of 6.8% from 2022 to 2032.
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Global Biodegradable packaging materials Market by Category
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By Material Type :
- Paper and Paperboards Biodegradable Packaging Materials
- Coated Unbleached Kraft Paperboard
- Bleached Paperboard
- Molded Fiber Pulp Paperboard
- Recycled Paper Paperboard
- Plastic Biodegradable Packaging Materials
- Poly Lactic Acid (PLA)
- Polyhydroxybutyrate (PHB)
- Starch Based Plastic
- Fossil Based Polymer (PCL, PBAT, PBS etc.)
- Polyhydroxyalkanoates (PHA)
- Jute Biodegradable Packaging Materials
- Wood Biodegradable Packaging Materials
- Paper and Paperboards Biodegradable Packaging Materials
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By Application :
- Trays
- Bags
- Boxes
- Clamshells
- Films
- Pouches
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By End-Use Industries :
- Food & Beverage Industry
- Cosmetics and Personal Care Products Industry
- Pharmaceuticals Industry
- Consumer Goods Industry
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By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
Category-wise Insights
Which material type of Biodegradable Packaging Materials is projected to show maximum growth?
Biodegradable packaging materials are offered in a variety of material types, including paper and paperboards, plastic, jute, and wood, with paper and paperboards biodegradable packaging materials anticipated to retain the global market’s dominant position. It has roughly 62.3% of the global market and is expected to contribute 85% of total market revenue over the assessment years.
Which end-use industry is driving demand for the Biodegradable Packaging Materials Market?
The food and beverage sectors, among all other end-use industries, are anticipated to drive sales of biodegradable packaging materials. More than 34% of the total market share is accounted for by the food and beverage industry. Several reasons, including increased demand for ready-to-eat meals, convenience foods, and packaged food products, are predicted to increase market demand by 1.3x.
Factors Hindering Market Growth
Although the ban on plastics has encouraged consumers to choose biodegradable packaging alternatives, high recycling and manufacturing costs of biodegradable packaging materials are expected to stymie industry expansion. Market participants in end-use sectors are encountering significant hurdles as a result of the scarcity of cost-effective biodegradable packaging materials.
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