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Biodegradable Packaging Market-Global Industry Insights, Trends And Forecast, 2017-2025

 Market Introduction

The biodegradable packaging industry is gaining significant traction across several end-use industries due to their low carbon footprint. Majority of the materials that are used in this type of packaging are natural, which enables automatic degradation without the use of a catalyst, due to which they find huge application in the food and beverages industry.

According to Insights and Reports more than a million plastic bottles are purchased in less a minute across the globe and the number is slated to cross the 1 trillion mark by the end of 2022 and less than 50% of the bottles are used for recycling. Asia Pacific is the leading consumer for plastic bottles, therefore contributing more to the plastic pollution issue. The high demand for plastic bottles in the region is majorly due to the high consumption of bottled water and influence of the western culture for the on-to-go food and beverage products. Further, the high demand plastic bottles can also be attributed to the rising consumption of soft drinks.

Market Dynamics

The rising population is one of the key factors pushing the market growth for bio-degradable packaging at present. Rising population has led to the increased demand for bottled water consumption. According to Insights and Reports, approximately 500 billion plastic bottles were sold in 2016, out of which Coca Cola had made more than 100 billion bottles in the same year. Further, according to Insights and Reports, bottled water consumption amounted to 400 billion liters in 2017. Further, the volume consumption of ready to eat liquid breakfast products is projected to cross the 160 million liters mark by the end of 2019 These factors have given rise to concerns regarding plastic pollution and since the demand for plastic is unlikely to subside in the coming years, manufacturers and regulatory authorities are shifting their focus toward renewable alternatives, which in turn is fuelling market growth of the biodegradable packaging.

However, the growth of market is held back due to rising investments recyclable packaging solutions and low penetration rate of bio degradable packaging materials in the under developed and developing economies.

Market Segmentation and Analysis

Based on material type, the biodegradable packaging market has been classified into plastic and paper. Plastic has been further sub-divided into starch, cellulose, polylactic acid (PLA), polyhydroxyalkanoates (PHA), bio polyethylene (Bio-PE) and bio polyethylene terephthalate (Bio-PE) among others. Paper has been further sub-divided into corrugated paper, flexible paper, corrugated paper, and box-board among others. Plastics are anticipated to retain market dominance throughout the forecast period.

Based on end-use industry, the bio degradable packaging market has been classified into food & beverages, pharmaceuticals, personal care, e-commerce, home care, and automotive among others. Food & beverages accounted for the maximum market share in 2016 and is slated to retain market dominance throughout the forecast period.

Geographical Outlook

Europe led the bio-degradable packaging market in 2016 and is anticipated to retain market dominance throughout the forecast period. Factors such as rising concern towards the environment, stringent government regulations with regards to reduction of carbon footprint, research and development activities dedicating to the development of renewable alternatives are greatly fuelling the growth of the market at present. According to the European commission, Europe generates more than 25 million tons of plastic waste each year and less than 30% of the accumulated plastic are up for recycling. A directive passed by the European Union is expected to bring down plastic consumption in several member states by approximately 75% by the end 2020. This is expected to fuel the demand for bio degradable plastics and paper in the region.

 

For more information about this report @ http://www.insightsandreports.com/packaging-biodegradable-packaging-market.php

 

Asia Pacific, however is anticipated to project the fastest growth during the period from 2017 to 2025. India and China are world’s most densely populated countries, which has resulted in the high consumption of plastic, which in turn has contributed to pollution. India is making fair contributions to curb environmental pollution in the country. A directive passed by the Maharashtra Government, manufacturing and distribution of plastics and thermocol has been banned in the state, and it’s been done as an effort to reduce environmental pollution. This step has paved the way for the entry of bio-degradable paper and plastics, which is in turn is expected to boost market growth of bio degradable packaging in the country.

Competitive Landscape

Some of the key players operating in the field of bio degradable packaging include BASF S.E., Smurfit Kappa Group, Mondi Plc, Stora Enso OYJ, Amcor Group, Novamont S.p.A. and Reynolds Group Holdings Ltd.

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