The global biodegradable paper & plastic packaging market is expected to reach USD 19.51 million by 2025, from USD 6.42 million in 2017 growing at a CAGR of 14.31% during the forecast period of 2018 to 2025. Global biodegradable paper & plastic packaging market have products that are gradually finding acceptance in a wide variety of industries, as it is eco-friendly and having a low impact on the environment.
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Increasing consumer awareness towards the environment and their shifting preference from the synthetic product is the main factor which is contributing to the demand for Biodegradable paper & plastic packaging. Food & beverage industry is the largest markets where biodegradable paper & plastic packaging is used. The key players operating in the Global Market are –
- International Paper
- WestRock Company
- STORA ENSO
- Clearwater Paper Corporation
- Smurfit Kappa Group
- Kruger Inc.
- Novamont S.p.A.
- BASF SE
- Biopac India Corporation Ltd.
- NatureWorks LLC
The other players in the market are Down2Earth Materials., PreScouter.,Green Packaging, BioBag Americas, Inc,Cedar Grove Composting, Inc.,Chamness Biodegradables, Eco-gecko Products Inc, Eco-Products, Inc, ECOWORLD, Ultra Green Sustainable Packaging, are among the others mentioned in the Global Biodegradable Paper & Plastic Packaging Market report.
In 2017, investment around USD 300 million to convert uncoated freesheet to high-quality whitetop linerboard and containerboard at the riverdale mill in selma, Alabama, and targeted to complete by mid – year of 2019, Addition of 450,000 tons of annual capacity, with the flexibility to shift between containerboard products is expected with this investment.
According to British Plastic Federation – plastic arising in the U.K. is 3.7 million tonnes out of which 32.0% is recycled and 70.0% is recovered.
- Increasing government regulations
- High demand in packaging, automotive, and electrical & electronics sector
- Awareness about the harmful impact of plastics disposal on the environment
- Growing investments in recyclable packaging solutions
- Lack of supply of bio-plastics and related materials
Segmentation: Global Biodegradable Paper & Plastic Packaging Market
By Packaging Type
- Personal & Home Care Packaging
- Food Packaging
- Beverage Packaging
- Pharmaceuticals Packaging
- North America
- South America
- Middle East & Africa
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