The Global Biodegradable Packaging Market Is Expected To Expand At A Cagr Of 20.8% In Terms Of Revenue And 22.2% In Terms Of Volume During 2017 – 2025.

 

Packaging is a technology that encloses and protects different types of products for storage, distribution, sale, and use. In recent years, the growing demand for healthy, safe, convenient food, as well as growing industry and consumer awareness of eco-friendly products in Asia Pacific, Europe, and North America, has been rapidly driving the global biodegradable packaging market. The ability of materials to degrade and return to nature within a short period of time after disposal is referred to as biodegradability. Starch, polylactic acid (PLA), cellulose, polyhydroxyalkanoates (PHA), and other biodegradable polymers are used in packaging. The widespread use of starch and PLA as biodegradable packaging materials in the food and beverage and pharmaceutical end-use industries is expected to drive growth in the biodegradable packaging market from 2017 to 2025. This is because starch and PLA polymers have high strength, versatility, and recyclability.

 

With the increasing amount of packaging waste produced worldwide, governments all over the world are turning to alternative sources such as biodegradable packaging. The United States has only 4% of the world's population but generates 12% of global municipal solid waste (MSW). According to reports, the United States generates approximately 106.2 kg of plastic waste per person per year. While the move toward biodegradable packaging in the food and beverage industry is primarily motivated by the industry's desire to maintain environmental standards, businesses are also concerned with satisfying their customers' desire to deal with entities that have a low environmental footprint. As a result, leading players in the food and beverage industries are collaborating with leading players in the biodegradable packaging market to secure lucrative deals in order to reduce the cost of their biodegradable packaging solutions.

 

The global Biodegradable Packaging Market was valued at US$ 3,927.0 million and 969.9 kilo tons in 2016 and is expected to expand at a CAGR of 20.8% in terms of revenue and 22.2% in terms of volume during 2017 – 2025. The market for biodegradable packaging is being driven by a number of factors, including increased government regulations aimed at reducing non-biodegradable waste. Furthermore, the global biodegradable packaging market is expected to reach USD 17.9 billion by the end of 2021. Geographically, Europe and North America account for 66 percent of the bio-degradable packaging market, owing to the presence of a large number of high-income people in the region. Asia Pacific is also a significant market for biodegradable materials, owing primarily to the region's increased GDP and rapid population growth.