Pune, May 05, 2022 (GLOBE NEWSWIRE) -- Biodegradable packaging protects goods from natural degradation. Bioplastics conserve resources by keeping food safe, withstanding high temperatures, and maintaining their shape over time. Biodegradable plastic packaging has the same properties as traditional plastic packaging but is more environmentally friendly. Biodegradable plastic is made from all-natural plant-based raw materials, allowing for a natural breakdown process in which bacteria and fungi in the environment metabolize the polymers. This helps break down a biodegradable plastic structure. Biodegradable packaging made from natural ingredients like starch, cellulose, protein, and vegetable oil is a promising alternative to plastic packaging. Many retailers have started using recycled paper and biodegradable plastic bags for packaging in response to government regulations.
"The global market for biodegradable plastic packaging is expected to grow at a 20.3% CAGR between 2022 and 2030, reaching a value of approximately USD 14.1 billion in 2030."
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Biodegradable polymers derived from these sources can be used to contribute to the preservation of a healthy environment. Traditional plastics for packaging are hazardous, non-biodegradable, and contribute to global warming, water and air pollution, and other environmental issues. The expansion of emerging economies and the increasing demand for biodegradable plastics from end-use industries are expected to open up new markets for biodegradable plastics manufacturers. More food and beverage manufacturers are using biodegradable plastics to address environmental and economic concerns. As government regulations regarding pollution become more strict, industries are turning to biodegradable plastics in their packaging. However, high costs keep the biodegradable plastic packaging market from expanding faster than its traditional counterpart. Growing government initiatives are assisting the biodegradable plastic packaging market's growth.
Key Players
Prominent vendors in the biodegradable plastic packaging market are Tetra Pak International SA, Plastic Suppliers Inc., Kruger Inc., Amcor PLC, Mondi PLC, International Paper Company, Smurfit Kappa Group PLC , DS Smith PLC, Klabin SA, Rengo Co. Ltd, WestRock Company, Stora Enso, Stora Enso, Bemis Company Inc. and Rengo Co. Ltd
Vendor Assessment
Vendor assessment includes a deep analysis of how vendors are addressing the demand in the Biodegradable Plastic Packaging Market. The MDC Competetive Scape model was used to assess qualitative and quantitative insights in this assessment. MDC's Competitive Scape is a structured method for identifying key players and outlining their strengths, relevant characteristics, and outreach strategy. MDC's Competitive Scape allows organizations to analyze the environmental factors that influence their business, set goals, and identify new marketing strategies. MDC Research analysts conduct a thorough investigation of vendors' solutions, services, programs, marketing, organization size, geographic focus, type of organization and strategies.
Technology Assessment
Technology dramatically impacts business productivity, growth and efficiency. Technologies can help companies develop competitive advantages, but choosing them can be one of the most demanding decisions for businesses. Technology assessment helps organizations to understand their current situation with respect to technology and offer a roadmap where they might want to go and scale their business. A well-defined process to assess and select technology solutions can help organizations reduce risk, achieve objectives, identify the problem, and solve it in the right way. Technology assessment can help businesses identify which technologies to invest in, meet industry standards, compete against competitors.
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Business Ecosystem Analysis
Advancements in technology and digitalization have changed the way companies do business; the concept of a business ecosystem helps businesses understand how to thrive in this changing environment. Business ecosystems provide organizations with opportunities to integrate technology in their daily business operations and improve research and business competency. The business ecosystem includes a network of interlinked companies that compete and cooperate to increase sales, improve profitability, and succeed in their markets. An ecosystem analysis is a business network analysis that includes the relationships amongst suppliers, distributors, and end-users in delivering a product or service.
Regions and Countries Covered
North America (US, Canada), Europe (Germany, UK, France, Spain, Italy, and Rest of Europe), Asia-Pacific (Japan, China, Australia, India, Rest of Asia-Pacific), and Rest of the World (RoW)
Report Coverage
Biodegradable Plastic Packaging Market Dynamics, Covid-19 Impact on the Biodegradable Plastic Packaging Market, Vendor Profiles, Vendor Assessment, Strategies, Technology Assessment, Product Mapping, Industry Outlook, Economic Analysis, Segmental Analysis, Biodegradable Plastic Packaging Market Sizing, Analysis Tables.
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Vendor Profiles Covered
All Major Tier-1, Tier-2, and Tier-3 companies are covered in this Biodegradable Plastic Packaging Market report (25 Vendor Profiles)
Key Questions Answered in This Report:
- What is the potential of the Biodegradable Plastic Packaging Market?
- What is the impact of COVID-19 on the global Biodegradable Plastic Packaging Market?
- What are the top strategies that companies adopting in Biodegradable Plastic Packaging Market?
- What are the challenges faced by SME’s and prominent vendors in Biodegradable Plastic Packaging Market?
- Which region has the highest investments in Biodegradable Plastic Packaging Market?
- What are the latest research and activities in Biodegradable Plastic Packaging Market?
- Who are the prominent players in Biodegradable Plastic Packaging Market?
- What is the potential of the Biodegradable Plastic Packaging Market?
Additional vendors profiles can be added based on client business requirements
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