Biodegradable Paper and Plastic Packaging Market Size

Biodegradable Paper and Plastic Packaging Market Size

Biodegradable Paper and Plastic Packaging Market size was worth more than USD 2 billion in 2021 and is expected to grow at a CAGR of 11% through 2030. Rising adaption of sustainable packaging alternatives in developing countries to push the global industry growth.

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Biodegradable plastic and paper are largely utilized for packaging across all industries owing to their vast variety of characteristics, including biodegradability, recyclability, adaptability, wide availability, lightweight, and most importantly the ‘sustainability’ factor. The development of biodegradable packaging solutions as a partial replacement for petrochemical-based plastics is being driven by significant environmental and food safety concerns, which is stimulating the market outlook.

The need for sustainable packaging has increased as people demand change and have started scrutinizing businesses. Consumer preferences are shifting in favor of sustainable and environment-friendly packaging. The biodegradable paper and plastic packaging industry growth is backed by the rising environmental concerns and the increasing willingness of the population worldwide to pay more for sustainable solutions and ‘greener’ packaging.