The Global Biodegradable Packaging Materials Market Is Estimated At USD 88 Billion In 2022
SEOUL, SOUTH KOREA, May 27, 2022 /EINPresswire.com/ — The Europe biodegradable packaging market is estimated at US$ 2.94 Billion in 2022, registering an impressive growth of 6.4%, thereby exceeding the market valuation of US$ 5.5 Billion by the end of 2032. The Europe Biodegradable Packaging market registered a CAGR of 5.8% from 2017 to 2021. Owing to the remarkable potential in the market, the Europe Biodegradable Packaging market is anticipated to grow during the assessment period, according to the Fact.MR analysis.
The Paper and Paperboards Biodegradable Packaging Materials Market report finds they’ve enhanced usage in the food & beverage industry, however, with the growing advancements, they are now being greatly used for making bags & Boxes as well.
Manufacturers are investing in state-of-the-art technologies to cater to ever increasing demand for affordable and highly-efficient biodegradable packaging materials. In addition to this, next-generation technological solutions are aiding producers to provide industry-specific packaging solutions.
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Key Takeaways from Market Study
The biodegradable packaging market in Europe is estimated at US$ 2.94 Billion in 2022, projected to expand at an impressive CAGR of 6.4%, to exceed the valuation of US$ 5.5 Billion by the end of 2032
By material, paper & paperboard leads the market, holding 62.3% share of the overall market in 2022
By end-user, food & beverage to hold 34% market share, rising at a 6.1% CAGR from 2022-2032
Bags & boxes collectively account for nearly 38% market share under the application segment
Germany leads the market, holding 35% market share, projected to grow at a 6.4% CAGR
“Plastic ban in Europe and Strict environmental norms have increased the emphasis on biodegradable packaging in several parts of the region, likely to stimulate the Biodegradable Packaging market demand in coming years”, says a Fact.MR analyst.
Prominent players are witnessing enhanced competition in the market as the market has seen immense development in terms of innovation and advancement in technology. Owing to the enhanced application in different end-use industries, companies in the market are looking out for cost reduction to make them more accessible.
In April 2021, Smurfit Kappa, launched a new range of e-bottle packaging solutions for the growing online beverage market. This range is more sustainable made from recyclable raw material and is customizable according to bottle shapes and sizes. The company also offers a range of automated solutions that helps in the optimization of packaging processes.
In May 2021, Amcor Limited announced that its team has created more sustainable packaging solutions for butter and margarine, which is made entirely from paper. The paper wrapper is 38% lighter than aluminium and paper packaging and reduces carbon footprint by 81%, thus, helping consumers meet sustainability goals.
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2015 to 2021 Intralogistics Market Revenue Analysis vs. Market Outlook 2022-2032
Over the past half-decade – 2015-to 2021, the global intralogistics market propagated at a resounding CAGR of 14.3%. Digitalization across industries enhanced productivity, and incorporation of the Industrial Internet of Things (IIoT) has been prime bellwethers for growth.
Internal supply chain optimization with the integration of intralogistics within plants is ensuring potential growth of the market. IIoT implementation for increasing productivity of plants by curtailing distances to bridge and lithe material flow is ensuring high growth of the market. By these aforementioned factors, the market is projected to surge ahead at an impressive CAGR of 15.5% over the forecast period.
Stringent Regulations Driving Biodegradable Packaging Material Market
According to World Bank, plastic waste generation is projected to increase by roughly 70% and by 2050, it is likely to reach more than 3.3 billion tonnes.
The perils of plastic waste generation have forced governments and institutes to impose a ban on single-use plastic packaging materials. Several regulations and legislations primarily focused on plastic packaging and single-use plastic have been introduced in over 60 countries, regions and cities. Certification procedures and labelling regulations are in place to control false claims about sustainable packaging.
United States comprises only 4% of the world’s population but produces more than 105 Kg of plastic per person per year. The Break Free from Plastic Pollution Act in the U.S. forces producers to ban single-use plastic products, handle waste, and pause permits of new plastic plants, in addition to other measures, imposed.
The National Action Plan for Sustainable Plastic Management introduced set 3 targets of plastic concern. First, is to recycle 50% of plastics by end of 2025, second, to phase out single-use plastic by 90% by end of 2026 and thirdly, to reduce plastic waste generation by 30% by 2030.
Manufacturers need to comply with stringent government regulations established in regional markets and make a shift towards eco-friendly packaging solutions which is expected to boost the market growth.
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Global Biodegradable packaging materials Market by Category
By Material Type :
Paper and Paperboards Biodegradable Packaging Materials
Coated Unbleached Kraft Paperboard
Molded Fiber Pulp Paperboard
Recycled Paper Paperboard
Plastic Biodegradable Packaging Materials
Poly Lactic Acid (PLA)
Starch Based Plastic
Fossil Based Polymer (PCL, PBAT, PBS etc.)
Jute Biodegradable Packaging Materials
Wood Biodegradable Packaging Materials
By Application :
By End-Use Industries :
Food & Beverage Industry
Cosmetics and Personal Care Products Industry
Consumer Goods Industry
By Region :
More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the Europe Biodegradable Packaging market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights based on material type (paper and paperboards, plastic, jute and wood) By Application (Trays, Bags, Boxes, Clamshells, Films, Pouches) and by end-use industries (food & beverage, cosmetics and personal care products, pharmaceuticals, consumer goods) across major countries of Europe (Germany, Italy, France, Spain, U.K., Russia and BENELUX)
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