Pune India, Dec. 09, 2022 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and Middle East and Africa. These are the key regions where the biodegradable paper and plastic packaging market is operating currently and is predicted to expand in the near future. The manufacturers and suppliers involved in the biodegradable paper and plastic packaging market is present across various countries in the above-mentioned regions.
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The report provides detailed understanding of the market segments which have been formed by combining different prospects such as type, material type, end-user, and others. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.
The significant players operating in the global biodegradable paper and plastic packaging market are Riverside Paper Co. Inc., Clearwater Paper Corporation, Smurfit Kappa, BASF SE, Ultra Green Sustainable Packaging, Kruger Inc., Stora Enso, Mondi Group, Plastic Suppliers Inc., Eurocell S.r.l, Tetra Pak International SA, International Paper Company, Amcor PLC, Klabin SA, among others. To achieve a substantial market share in the worldwide biodegradable paper and plastic packaging market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
Packaging is one of the biggest industries in the world. Biodegradable packaging is a method of protecting packages that degrade naturally and swiftly. Biodegradable plastic and paper packaging are frequently used in the packing of goods and materials transferred from one place to another because plastic enables logistics organisations to carry their goods and materials over vast distances and in any environmental state. In the wake of sustainable development, logistic end users are choosing biodegradable paper and plastic packaging material more and more since it is healthy for the environment and human health. Biodegradable paper and plastic packaging helps shield products from moisture, dust, and other environmental variables to keep packed goods safe and secure. Due to their wide range of qualities, including biodegradability, recyclability, adaptability, widespread availability, lightweight, and most crucially the "sustainability" element, biodegradable plastic and paper are widely used for packaging across many industries. Significant environmental and food safety concerns are motivating the development of biodegradable packaging options as a partial replacement for plastics derived from petrochemicals, which is enhancing the market outlook.
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Scope of Biodegradable Paper and Plastic Packaging Market Report
| Report Metric | Information |
| Study Period | 2021-2029 |
| Base Year | 2021 |
| Forecast Period | 2022-2029 |
| Market Share Unit | USD Billion |
| Segments Covered | By Type, By Material Type, By End-User, region |
| Regions Covered | North America, Europe, Asia-Pacific, South America and Middle-East and Africa |
| Major Players | Riverside Paper Co. Inc., Clearwater Paper Corporation, Smurfit Kappa, BASF SE, Ultra Green Sustainable Packaging, Kruger Inc., Stora Enso, Mondi Group, Plastic Suppliers Inc., Eurocell S.r.l, Tetra Pak International SA, International Paper Company, Amcor PLC, Klabin SA, among others |
Segmentation Analysis
Paper segment is expected to be the fastest growing segment in 2021.
The material type segment is plastic and paper. Papers are expected to witness the highest growth rate during the forecast period. Paper and paperboard are the most common and traditional types of environmentally friendly packing materials. The segment's growth will be aided by consumers' growing preference for paper-based packaging, which is thought to be better for the environment because of features like easy recycling, decomposition, and home compostability.
The food and beverage segment is expected to be the fastest-growing segment in 2021.
The end-user includes catering service wares, personal and home care, food and beverage, and healthcare. The food and beverage segment is expected to witness the highest CAGR during the forecast period. The segment is driven by rising demand for packaged food by the working class as they prefer ready-to-eat food. Additionally, quick urbanisation and a rise in customer desire for lifestyle goods are key market drivers.
Regional Analysis
The regional analysis provides a detailed perception about the key regions and the countries. Some of the key countries analyzed for the Biodegradable Paper and Plastic Packaging include US, Canada, Mexico, Germany, France, U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa and Saudi Arabia.
- Asia Pacific region witnessed a major share. The increased disposable income of the upper- and middle-class population might be attributed to this growth. The market is also expected to be driven by rising demand for packaged food by the working class as they prefer ready-to-eat food. Additionally, quick urbanisation and a rise in customer desire for lifestyle goods are key market drivers in the Asia Pacific Biodegradable Paper and Plastic Packaging industry. Additionally, fast food, coffee, tea, and other foods and beverages are popular in countries like India, China, Japan, and others, driving up demand for Biodegradable Paper and Plastic Packaging and advancing the industry.
Country Analysis
- Germany
Germany's biodegradable paper and plastic packaging market size was valued at USD 0.106 billion in 2021 and is expected to reach USD 0.19 billion by 2029, at a CAGR of 8% from 2022 to 2029.
The market in the country is being driven by the ongoing rise in consumer demand for frozen, processed, and semi-processed food items with higher nutritional values. This demand is encouraging food packaging manufacturers to increase their production capacity of packaging products for diversified product categories. Moreover, developments in healthcare sector boost the demand for biodegradable paper and plastic packaging.
- China
China Biodegradable Paper and Plastic Packaging’s market size was valued at USD 0.28 billion in 2021 and is expected to reach USD 0.57 billion by 2029, at a CAGR of 9.8% from 2022 to 2029. Increased discretionary incomes, particularly in metropolitan areas, are driving the market. Additionally, China's vast pool of reasonably priced and qualified workers enables the country to offer its products on the global market at incredibly low prices, which raises regional product demand.
- India
India's Biodegradable Paper and Plastic Packaging market size was valued at USD 0.20 billion in 2021 and is expected to reach USD 0.40 billion by 2029, at a CAGR of 9.3% from 2022 to 2029. Increased discretionary incomes, particularly in metropolitan areas, are driving the market. Additionally, China's vast pool of reasonably priced and qualified workers enables the country to offer its products on the global market at incredibly low prices, which raises regional product demand.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of this market is mainly driven owing to the rising demand for biodegradable paper and plastic packaging from various applications, including commercial and residential applications.
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