Biodegradable Packaging Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share& Forecast, 2021 – 2027
Report ID: GMI1689
Biodegradable Packaging Market size is anticipated to witness dynamic growth due to rising environmental awareness among people and stringent governmental regulations that have shifted focus towards waste reduction and eco-friendly materials. It provides natural protection when used in packing and presentation applications for various products from production to consumption.
Earlier, it was not known to have any definite environmental importance. However, recently recyclable packing has developed into a popular segment as essential part of the packing industry. Rise in consumer awareness has led to the incredible growth of overall industry. Food and beverage packing industry is likely to play a vibrant role in driving biodegradable packaging market demand.
The product differs from the conventional non-decomposable packing as it is usually land filled. It degrades easily and quickly without the help of any external catalyst. Biodegradable packaging market represent a merger percentage of packing industry, which makes it as a small segment. Global biodegradable packing industry has moved towards more effective and efficient packing.
It begins with selection of packing material and it drives choice of packing equipment to be used and final package performance, which decides wrapping success. The material type drives the product’s features, look and consumer traits.
A plastic material called bio-plastic can be either bio based or decomposable in nature. Bio based means that the material is formed from biomass process, generally from the stems of crops including sugarcane and corn. Biodegradation refers to a chemical mechanism under which certain microorganism transforms into natural substances including water, CO2 and compost. These products are naturally fragmented into biological agents including bacteria and fungi into raw materials, which are generally rotten by microbes and other natural bio processes. It includes those products that comprises of waste food, fabrics, paper and wood.
A bio-plastic or polylactic acids is generally derived from a plant feedstock and is not exactly decomposable in environment. It is a recyclable material made from natural gas or oil feedstock like PET.
Product packing of primary and secondary segment is directly linked with their production and components as a vital part of the value-added mechanism of biodegradable packaging market while tertiary packing is associated with logistics. Primary packing is directly related to real product and hence, should show better retaining features as per the product necessities. Secondary packing includes films, boxes, bags and containers which products are packed along with its primary packing. It is usually used to improve the appealing and handling convenience features of the product.
Europe and North America are projected to dominate the global biodegradable packaging market due to the presence of health and environmental conscious consumers. Some of the important industry players are Sweden, Germany, UK and Switzerland. Within North America, the US is anticipated to be the largest consumer of the product. In addition, presence of high income population is another driving force the biodegradable packaging market growth in the region.
Asia Pacific is expected to favor the growing biodegradable packaging market demand due to increase in contract production processes coupled with growing government interest to promote environmental friendly products. This is done by providing high incentives in several countries including China and India. Changing lifestyle along with growing demand for packed food products in the region is also projected to drive biodegradable packaging market.
Latin America is expected to show promising growth on accounts of a developed manufacturing process and technological advancements in the overall value chain. Brazil is likely to be largest biodegradable packaging market in the region owing to economic expansion and growing disposable income among general buyers.
Biodegradable packaging market is highly competitive owing to the presence of various players in small and large business segments. Key players identified in the industry include Novamont, BASF, Mondi Group, International Paper, Smurfit Kappa, Arkema, and RockTen. Some of the other prominent players in biodegradable packaging market are Be Green Packaging, Stora Enso, Biopak Pty, Cortec, Tetra Pak, Natureworks, Kruger, Georgia-Pacific, Clearwater Paper, Prolamina, Simbiousa, McNichols Co, EarthFirst Brand Films, Berkley International Packaging, RNS and Bemis Company.
Several mergers and acquisitions has been witnessed in biodegradable packaging market. In 2014, Italy based company, Novamont acquired another Italian packing company, JV Mater Biopolymer which helped the company to receive the world-famous packing facility of Patrica, Italy.
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