The global biodegradable paper and plastic packaging market was valued at $1.9 billion in 2021 and it is expected to reach $8.9 billion at a CAGR of 13.8% between 2022 and 2032. The global fight against harmful packaging materials made of plastic and other harmful components, as well as increased demand for sustainable packaging in a variety of industries such as food & beverage, pharmaceuticals, etc., are the main causes of the market demand for biodegradable packaging materials' growth.
By region, Asia-Pacific region accounted for the highest share of this market.
The market study on biodegradable paper and plastic packaging provide a detailed overview of the sector, market, and major competitors. Both the supply-side and demand-side of the market have been examined in the research. In addition to trends by market segments, technology, and investment, the global Biodegradable Paper & Plastic Packaging research also offers a competitive landscape. Moreover, the expansion of the global market for biodegradable paper and plastic is significantly fueled by environmental concerns. Because biodegradable materials break down quickly, there is less possibility of environmental pollution. The demand for biodegradable paper and plastic worldwide is being further driven by an increase in the product's use in the packaging industry, particularly in growing nations like India and China, among others.
Source: SAI Research
Additionally, growing consumer demand for eco-friendly products is anticipated, and the availability of raw materials will also contribute to the market's expansion during the forecast period. In addition, the packaging industry's increased use of paper and plastics increases consumer demand for the product and opens up new potential for market expansion due to the expanding vector-borne diseases brought on by single-use plastic.
A significant amount of garbage, including non-biodegradable packaging materials, is produced by the food and beverage industry. The market for biodegradable paper and plastic packaging will be influenced by the growing demand for packaging solutions with better environmental performance and commercial value. In the quickly growing food and beverage industry, supply chain and production process efficiency can be boosted by utilizing less packaging.
Based on material type, the polylactic segment accounted for the largest share of this market and is anticipated to gain more market share in the future. Thermoplastic PLA, or polylactide, is a flexible biodegradable material. It is made of lactic acid monomers, which are 100% renewable resources that may be manufactured from corn and sugar beets. Polylactide is a thermoplastic substitute for biodegradable plastics that are utilized in resins and packaging. However, during the projection period, the plastic packaging type is anticipated to experience a significant increase. Plastic packaging is not widely used in the food packaging application sector, which positively affects the segment's growth.
In terms of application type, the food and beverage segment held most of the market share over the past few years and is also projected to accelerate the market growth during the upcoming years. Biodegradable polymers are being used more frequently in food and beverages as a result of growing environmental awareness. From bottles and cups to chip bags and coffee pods, everything is packaged in biodegradable plastic. Biodegradable paper & plastic packaging market expansion in the category is anticipated to be boosted by industry participant competition for product differentiation. During the projected period, strict government regulation is anticipated to increase rapidly, particularly in Europe.
Geographically, the Asia-Pacific region has been dominating the market and is also expected to hold its dominant position during the forecast period. This is a result of the region's rising need for packaging made of biodegradable paper and plastic. The Asia-Pacific region dominates the market for biodegradable paper and plastic packaging due to rising consumer awareness of the plastics segment and expanding business opportunities in the food and beverage sector. China is the market leader for biodegradable plastic in the Asia-Pacific since it has many manufacturers and the product is widely available at low pricing. India and China are leading the Asia-Pacific area in terms of demand for biodegradable plastic packaging as a result of urbanization. On the other side, the North American region is also expected to become the second-highest market across the globe due to the rising demand for biodegradable paper and plastic packaging materials.
According to the study, key players such as Amcor (Australia), BASF (Germany), Bemis Manufacturing Company (U.S), Clearwater Paper Corporation (U.S), International Paper (U.S), Mondi (U.K), Rocktenn (U.S), Smart Solve Industries (U.S), Stora Enso (Finland), SupplyOne (U.S), Tetra Laval (Sweden), WestRock (U.S), among others are leading the global biodegradable paper and plastic packaging market.
|Market Size in 2021||US$ 1.9 Billion|
|Market Volume Projection by 2032||US$ 8.9 Billion|
|Forecast Period 2022 to 2032 CAGR||13.8%|
|Historical Data||2019, 2020 and 2021|
|Forecast Period||2022 to 2032|
By Material Type: Plastic, Polylactic, Jute, Wood & Others
By Application Type: Trays, Bags, Boxes, Clamshells, Films, Pouches & Others
North America, Europe, Asia-Pacific, LAMEA
|Companies covered||Amcor (Australia), BASF (Germany), Bemis Manufacturing Company (U.S), Clearwater Paper Corporation (U.S), International Paper (U.S), Mondi (U.K), Rocktenn (U.S), Smart Solve Industries (U.S), Stora Enso (Finland), SupplyOne (U.S), Tetra Laval (Sweden), WestRock (U.S), among others|
The Global Biodegradable Paper and Plastic Packaging Market Has Been Segmented Into:
The Global Biodegradable Paper and Plastic Packaging Market – by Material Type:
The Global Biodegradable Paper and Plastic Packaging Market – by Application Type:
The Global Biodegradable Paper and Plastic Packaging Market – by Regions: