Biodegradable Packaging Market Revenues to Reach USD 132.74 billion by 2028 - Market Size, Share, Forecasts, & Trends Analysis Report by Mordor Intelligence

Hyderabad, Aug. 14, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled “Biodegradable Packaging Market Report (2023-2028),” the market is estimated at USD 99.33 billion in 2023. It is expected to register a CAGR of 5.97% during the forecast period.

The demand for biodegradable packaging has risen over the past decade due to the growing awareness concerning environmental conservation, especially in the post-pandemic scenario. The market is being driven by increased consumer preference toward sustainable packaging materials and expanding demand for recyclable and biodegradable products across various end-user industries.

Report Summary:

Who are the Top Companies in the Biodegradable Packaging Market?

The global biodegradable packaging market is highly fragmented, comprising several players.

The noteworthy players holding the global biodegradable packaging market are:

• Tetra Pak International SA
• Amcor PLC
• Mondi Group
• Imex Packaging
• Elevate Packaging Inc.
• Kruger Inc.
• Biopak PTY LTD (Duni Group)
• Smurfit Kappa Group PLC
• Berkley International Packaging Limited
• Greenpack Limited
• International Paper Company
• Ranpak Holding Corporation

Other Reports That Might Be of Your Interest:

• Paperboard Packaging Market Report  - The paperboard packaging market size is estimated at USD 357.20 million in 2023 and is expected to reach USD 445.99 million by 2028, at a CAGR of 4.54% during the forecast period (2023-2028).
• Liquid Packaging Cartons Market Report     - The liquid packaging cartons market size is estimated at USD 11.95 billion in 2023 and is expected to reach USD 15.18 billion by 2028 at a CAGR of 4.90% during the forecast period (2023-2028).

 Key Highlights from the Biodegradable Packaging Market Report:

Personal/Homecare Packaging Segment to Grow Significantly

• The trend toward using and seeking natural materials and additives for personal or cosmetic products is on the rise as the adverse effects of synthetic materials on health and the environment become apparent. Presently, marketing trends are turning toward natural solutions for cosmetics, which promote a healthy lifestyle.
• As per the CDF Corporation, the cosmetics and personal care industry embraces and contributes to the innovation of a sustainable packaging culture, trailing packaging that reduces environmental impact by using natural materials that are reused, recycled, and reduced.

Increasing Demand from the United Kingdom

• The United Kingdom is the leading country in Europe, wherein the demand for biodegradable packaging has been increasing. The towering awareness about the sustainability factors of packaging products, along with recent government initiatives, are creating a favorable market scenario for the growth of the studied market in the country.
• The ban on single-use plastics is the primary factor to impact the demand for biodegradable packaging products. In 2021, the UK government announced plans to ban single-use plastic cutlery, plates, and polystyrene cups in England to tackle plastic pollution.

What are the Latest Developments in the Biodegradable Packaging Market?  

• In May 2022, Amcor Rigid Packaging (ARP) declared the creation and launch of PowerPostTM. It 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.
• In January 2022, Amcor PLC introduced AmFiberTM, a new platform for paper-based packaging products to redefine the functionality of traditional paper packaging, offering a wider range of functional benefits to meet the changing needs of consumers.

Mordor Intelligence has Segmented the Biodegradable Packaging Market Based on Material Type, Application, and Geography:

• By Material Type
  • Plastic
    • Starch-Based Plastics
    • Cellulose-Based Plastics
    • Polylactic Acid (PLA)
    • Poly-3-Hydroxybutyrate (PHB)
    • Polyhydroxyalkanoates (PHA)
    • Other Plastics
  • Paper
    • Kraft Paper
    • Flexible Paper
    • Corrugated Fiberboard
    • Boxboard
• By Application
  • Food Packaging
  • Beverage Packaging
  • Pharmaceutical Packaging
  • Personal/Homecare Packaging
  • Other Applications
• By Geography
  • North America
    • United States  
    • Canada  
  • Europe  
    • • United Kingdom 
      • Germany  
      • France
      • Italy
      • Rest of Europe 
  • Asia-Pacific  
    • • China  
      • South Korea
      • Japan
      • India
      • Rest of Asia-Pacific  
  • Latin America
    • • Brazil
      • Mexico
      • Rest of Latin America
  • Middle East & Africa
    • • United Arab Emirates
      • South Africa
      • Egypt
      • Rest of Middle East & Africa

In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the  Biodegradable Packaging Market Report (2023-2028).

Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:

• Paper and Paperboard Packaging Market Report  - The paper and paperboard packaging market size is estimated at USD 380.83 billion in 2023 and is expected to reach USD 478.68 billion by 2028 at a CAGR of 4.68% during the forecast period (2023-2028).
• E-Commerce Packaging Market Report  – The e-commerce packaging market size is expected to grow from USD 60.50 billion in 2023 to USD 115.62 billion by 2028, at a CAGR of 13.83% during the forecast period (2023-2028).
• Personal Care Packaging Market Report   - The personal care packaging market size is estimated at USD 30.53 billion in 2023 and is expected to reach USD 39.85 billion by 2028 at a CAGR of 5.47% during the forecast period (2023-2028).

About Mordor Intelligence:

Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.

Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the industry’s competitive landscape.

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• Biodegradable Packaging Market - Mordor Intelligence