Compostable Packaging Market to Exhibit an Incredible Growth of USD 75013.52 million by 2029, registering a CAGR of 6.20 %, Size, Share, Trends, Key Drivers, Demand and Opportunity Analysis
“The Compostable Packaging Market report has been meticulously crafted through the systematic collection and evaluation of market data within the Compostable Packaging Market industry. It presents this information in a format that elucidates a wide array of facts and figures for businesses. This comprehensive market research report conducts a thorough analysis of the market, covering various facets, including market drivers, restraints, segmentation, opportunities, challenges, and market revenues, along with a competitive analysis. It serves as a valuable tool for companies seeking to make informed decisions in addressing challenges within their niche markets. A dedicated team of analysts, experts, statisticians, forecasters, and economists has diligently worked to produce this advanced and all-encompassing Compostable Packaging Market report.
The Compostable Packaging Market report is a professional and in-depth study that places emphasis on primary and secondary drivers, market share, potential sales volume, leading segments, and geographical analysis within the Compostable Packaging Market industry. It demonstrates that the increase in market value is primarily attributed to the burgeoning growth of relevant industries and the subsequent surge in demand for applications. This market analysis delves into various segments expected to experience the most rapid growth during the projected forecast period. Furthermore, the competitive landscape section of the Compostable Packaging Market report sheds light on a detailed market share analysis of key industry players.
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Market Analysis and Size
With increasing consumer demand for compostable materials, companies are developing eco-friendly packaging to satisfy their consumers and focus on improving the world. APP Sinar Mas as one of the leading company of pulp and paper which has brought an advanced eco-friendly solution in the food and beverage packaging market. Foopak Bio Natura is also designed eco-friendly paperboard that takes inspiration from nature. It is appropriate for food packaging and single-use cup. Compostable packaging represents a sustainable, eco-friendly process of packaging.
Data Bridge Market Research analyses that the compostable packaging market was valued at USD 46360.00 million in 2021 and is expected to reach USD 75013.52 million by 2029, registering a CAGR of 6.20 % during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and technological advancements.
Report Scope and Market Segmentation
| REPORT METRIC | DETAILS |
| Forecast Period | 2022 to 2029 |
| Base Year | 2021 |
| Historic Years | 2020 (Customizable to 2014 – 2019) |
| Quantitative Units | Revenue in USD million, Volumes in Units, Pricing in USD |
| Segments Covered | Product (Bags, Trays, Cups, Plates, Films, Lids, Straws, Cutlery, Bowls, Clamshells, Pouches and Sachets, Others), Material (Plastic, Paper and Paperboard, Others), Packaging Layer (Primary Packaging, Secondary Packaging, Tertiary Packaging), Distribution Channel (B2B, Supermarkets/Hypermarkets, Departmental Stores, Convenience Stores, Specialty Stores, E-commerce, Others), End-User (Food and Beverages, Medical, Automotive, Electrical and Electronics, Agriculture, Textile Goods, Personal and Home Care, Chemical, Others) |
| Countries Covered | U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America |
| Market Players Covered | TIPA LTD (Israel), Riverside Paper Co. Inc. (US), SmartSolve Industries (Us), Özsoy Plastik (Turkey), Ultra Green Sustainable Packaging (US), Hosgör Plastik (Turkey), Eurocell S.r.l (UK), Tetra Pak International SA (Switzerland), (US), Kruger Inc. (Canada), Amcor PLC (Switzerland), Mondi (UK), International Paper Company (US), Smurfit Kappa (US), DS Smith (UK), Klabin SA (Brazil), Rengo Co. Ltd (Japan), WestRock Company (US), Stora Enso (Sweden), Bemis manufacturing company (US), Rocktenn (US), BASF SE (Germany), Clearwater Paper Corporation (Us) |
| Market Opportunities |
|
Compostable products are those product which can biodegrade and disintegrate into natural elements such as biomass, water, and carbon dioxide in a composting environment and leaving no harmful element in the soil. The compostable plastic packaging material contains PBS, PBAT, PHA, PLA, starch blends. These compostable mimic conventional plastic’s positive qualities, such as shelf stability, barrier properties, durability, etc., with one difference, i.e. these materials are fully compostable. Compostable material are providing nutrients to the earth when it has completely broken down. In order for packaging material and products to qualify as compostable, they must completely decompose and break down into natural elements within a short time after disposal.
Drivers
- Rise the demand in food industry
The compostable packaging in the food and beverage industry is expected to witness the market’s growth due to the nonstop demand for bottled water and non-alcoholic beverages in the market. The demand for bottled water is attributed to customers’ propensity for specifically demanding high-quality drinking water due to the fear of diseases resulting from drinking polluted tap water, and the ease of convenience and portability provided by bottled water.?
- Awareness of packaging waste in landfills and oceans
The awareness of packaging waste leakage in public, especially for plastic waste, into the environment has augmented considerably during past years. This has enforced to increase the demand for sustainable effort from brand retailers and owners to choose compostable packaging materials which are expected to increase the demand of compostable packaging in the market
- Increase the demand of ecofriendly packaging
Increasing awareness regarding environmental packaging across the developed countries is growing the adoption rate of compostable packaging in large companies, for example the Coca-Cola Company, Unilever Group, and Danone. These companies are adopting compostable packaging to retain their customer base, which is driving the compostable packaging market globally.
Opportunities
The government’s rising initiatives for manufacturing compostable materials for the packaging are expected to accelerate the compostable packaging market. The increasing investments for these packaging solutions will also provide the profitable opportunities for the growth of the compostable packaging market. Furthermore, increase in emerging new markets and strategic collaborations will also act as market drivers and further increase useful opportunities for the market’s growth rate.
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The compostable packaging market is segmented on the basis of products, material, packaging layer, distribution channel and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
- Bags
- Trays
- Cups
- Plates
- Films
- Lids
- Straws
- Cutlery
- Bowls
- Clamshells
- Pouches and Sachets
- Others
Material
- Plastic
- Paper and Paperboard
- Others
Packaging Layer
- Primary Packaging
- Secondary Packaging
- Tertiary Packaging
Distribution Channel
- B2B
- Supermarkets/Hypermarkets
- Departmental Stores
- Convenience Stores
- Specialty Stores
- E-commerce
- Others
End-User
- Food and Beverages
- Medical
- Automotive
- Electrical and Electronics
- Agriculture
- Textile Goods
- Personal and Home Care
- Chemical
- Others
Key Benefits of the Report:
- This study presents the analytical depiction of the global Compostable Packaging Market industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global Compostable Packaging Market share.
- The current market is quantitatively analyzed from to highlight the Global Compostable Packaging Market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global Compostable Packaging Market analysis based on competitive intensity and how the competition will take shape in coming years.
Answers That the Report Acknowledges:
- Compostable Packaging Market size and growth rate during forecast period
- Key factors driving the Compostable Packaging Market
- Key market trends cracking up the growth of the Compostable Packaging Market.
- Challenges to Compostable Packaging Market growth
- Key vendors of Compostable Packaging Market
- Opportunities and threats faces by the existing vendors in Global Compostable Packaging Market
- Trending factors influencing the market in the geographical regions
- Strategic initiatives focusing the leading vendors
- PEST analysis of the Compostable Packaging Market in the five major regions
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