Biodegradable Paper & Plastic Packaging Market will surpass USD 38.51 billion at a CAGR of 15.2% till 2029 : Exactitude Consultancy
Exactitude Consultancy Market Research analyses that the Biodegradable Paper & Plastic Packaging market will witness a CAGR of 15.2% for the forecast period of 2023-2029 and is likely to reach at USD 38.51 billion by 2029 from USD 10.77 billion in 2022.
The Biodegradable Paper & Plastic Packaging Market Research Report includes in-depth research and insights into the market size, revenues, important categories, growth drivers, limiting factors, and regional industrial presence. The goal of the market research study is to extensively explore the Chemical and Material industry and obtain an understanding of the business and its economic potential. As a consequence, the client gains wide information about the industry and business from the past, present, and future viewpoints, allowing them to spend money and deploy resources wisely. This report is 82 pages long and includes a detailed table of contents, a list of figures, tables, and charts, as well as significant analysis.
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Years considered for this report:
Historical Years: 2018-2021
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2023-2029
Biodegradable Paper & Plastic Packaging Market Drivers
- An increase in pharmaceutical production
Biodegradable plastics such as polyhydroxyalkanoates, polylactic acid and more are primarily in the pharmaceutical industry for packaging various capsules, tablets, powder and other pharmaceutical products. Its properties such as excellent resistance to moisture, abrasion, durability, flexibility and sustainability make them ideal for use in the packaging of such pharmaceutical products. For instance, according to the European Federation of Pharmaceutical Industries and Associations (EFPIA), the total production of pharmaceuticals including capsules, tablets and other products in Europe was valued at EUR 310,000 million (approx. US$ 354,080.76 million) in 2022. Moreover, according to the Brazilian Chemical Industry Association, the production of the pharmaceutical industry in Brazil was valued at US$16.1 billion in 2029, an increase of 2.6% from US$ 15.7 billion in 2022.
- Surging consumer preference toward bio-based packaging
Bio-based packaging is made from renewable resources that are less toxic to the environment. It causes less pollution by emitting very fewer carbon emissions that can be harmful to the environment as opposed to standard petroleum-based packaging. Moreover, bio-based packaging can be produced from a wide range of materials and also perform very well in most conditions. Bio-based packaging is biodegradable in nature and reduces the possibility of contamination of soil or underground water during its transportation, storage, or use.
Biodegradable Paper & Plastic Packaging Market Challenges
- High costs associated with Biodegradable plastics & paper packaging
The rise in costs of raw materials such as pulp has made it difficult to access paper for various packaging purposes. According to the U.S Bureau of Labor Statistics, the PPI and pulp cost and raw materials for corrugated boxes in 2021 have increased by more than 25% in the past 12 months. Likewise, according to Sparkoncept, a bio-based product manufacturer, the average price of bioplastic usually ranges from US$ 2,000 to US$ 7,000 per ton, depending on the type of bioplastic. Furthermore, another major factor that is causing the increase in packaging costs is transportation. Prices of crude oil have increased up to 40% since the beginning of the year 2022 and its prices are expected to increase up to US$ 80 per barrel in the upcoming years.
Biodegradable Paper & Plastic Packaging Market: Demand Analysis and Opportunity Outlook to 2023-2029
The Biodegradable Paper & Plastic Packaging study defines the market size of various segments and countries by historical years and forecasts the value for the next 7 years. The report brings together qualitative and quantitative elements of the Biodegradable Paper & Plastic Packaging industry, including: market share, market size (value and volume 2017-2022, and forecast to 2023-2029), in the highly competitive market for each country concerned Express appreciation. Furthermore, the study also caters and provides in-depth statistics on the key elements of Biodegradable Paper & Plastic Packaging, which includes drivers and restraints that help in estimating the future growth prospects of the market.
The study pays attention to the loftiest revenue-generating and highest growing segments of the Biodegradable Paper & Plastic Packaging market. This makes the research document accurately organized and systematic alongside encouraging a simpler understanding of each facet covered in this report. Major Key players profiled in the report include: biodegradable paper and plastic packaging, Hoşgör Plastik, Eurocell S.r.l., DoECO, Shanghai Disoxidation Enterprise Development Co.,Ltd, Stora Enso, Chamness Biodegradables LLC, Robert Cullen Ltd., Tekpak Solutions, International Paper, Be Green Packaging and others.
Biodegradable Plastic and Paper Packaging Market Recent Developments
- May 2022: Amcor Rigid Packaging (ARP) announced the creation and launch of PowerPostTM. PowerPost technology produces nearly one-third lighter bottles with 30% less energy and 30% less carbon than most 20 oz. bottles by actively dislodging the vacuum in the container after filling.
- January 2022: Amcor PLC launched AmFiberTM, a new platform for paper-based packaging products. AmFiber’s innovations aim to redefine the functionality of traditional paper packaging, offering a wider range of functional benefits to meet the changing needs of consumers. AmFiber’s product is an innovative solution tailored to provide snacks and confectionery products to European customers with recyclable packaging that provides a high barrier to oxygen and moisture.
- January 2022: TIPA Corp., an Israeli-based company, nabbed a USD 70 million investment for developing compostable packaging solutions. According to the company, its eco-friendly films and laminates mimic the properties and functions of traditional plastic materials, including durability, barrier properties, and shelf stability.
Biodegradable Paper & Plastic Packaging Market Segmentation:
Biodegradable Plastic and Paper Packaging Market By Type, 2023-2029 , (USD Million) (Kilotons)
- Polylactic Acid (PLA)
- Starch
- Polyhydroxyalkanoates (PHA)
- Polycaprolactone (PCL)
- Polybutylene Succinate (PBS)
Biodegradable Plastic and Paper Packaging Market By Application, 2023-2029 , (USD Million) (Kilotons)
- Food Packaging
- Beverage Packaging
- Pharmaceuticals Packaging
- Personal & Home Care Packaging
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Geographically, the following regions were investigated:
- North America (United States, Canada and Mexico)
- Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
- Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
- South America (Brazil, Argentina, Colombia, and Rest of South America)
- Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)
Key market aspects are illuminated in the report:
Executive Summary: It covers a summary of the most vital studies, the Biodegradable Paper & Plastic Packaging market increasing rate, modest circumstances, market trends, drivers and problems as well as macroscopic pointers.
Study Analysis: Covers major companies, vital market segments, the scope of the products offered in the Biodegradable Paper & Plastic Packaging market, the years measured, and the study points.
Company Profile: Each Firm well-defined in this segment is screened based on a product, value, SWOT analysis, their ability and other significant features.
Manufacture by region: This Biodegradable Paper & Plastic Packaging report offers data on imports and exports, sales, production and key companies in all studied regional markets
What is the purpose of this report?
- A thorough review of the Biodegradable Paper & Plastic Packaging market, including regional markets.
- Comprehensive coverage of all segments of the Biodegradable Paper & Plastic Packaging market to assess trends, developments and market size forecasts till 2023-2029.
- A thorough examination of deals involved in the Biodegradable Paper & Plastic Packaging market including product portfolio, revenue, SWOT analysis and recent company advancements are examined in the company profile.
- The growth matrix analyzes the product categories and geographic regions in which market companies should focus their efforts to invest, consolidate, expand and/or diversify.
There are 13 Sections to show the Biodegradable Paper & Plastic Packaging market:
Chapter 1: Biodegradable Paper & Plastic Packaging Market Overview, Drivers, Restraints and Opportunities, Segmentation overview
Chapter 2: Market Competition by Manufacturers
Chapter 3: Production by Regions
Chapter 4: Consumption by Regions
Chapter 5: Production, By Types, Revenue, and Market share by Types
Chapter 6: Consumption, By Applications, Market share (%), and Growth Rate by Applications
Chapter 7: Complete profiling and analysis of Manufacturers
Chapter 8: Manufacturing cost analysis, Raw materials analysis, Region-wise manufacturing expenses
Chapter 9: Industrial Chain, Sourcing Strategy, and Downstream Buyers
Chapter 10: Marketing Strategy Analysis, Distributors/Traders
Chapter 11: Market Effect Factors Analysis
Chapter 12: Biodegradable Paper & Plastic Packaging Market Forecast
Chapter 13: Biodegradable Paper & Plastic Packaging Market Research Findings and Conclusion, Appendix, methodology, and data source
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Key questions answered in the report include:
- What is the growth potential of the Biodegradable Paper & Plastic Packaging market?
- Which regional markets will emerge as leaders in the next few years?
- What are the key challenges facing the Biodegradable Paper & Plastic Packaging market in the future?
- Who are the most prominent players in the global Biodegradable Paper & Plastic Packaging market?
- What are the key trends positively impacting market growth?
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