According to Technavio’s latest market research study, the global biodegradable packaging market is expected to grow at a CAGR of close to 11% during the forecast period, 2017-2021.
This report by Technavio provides an in-depth analysis of the global biodegradable packaging market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
Technavio research analysts categorize the market based on the application type
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The top three revenue contributing product segments are discussed below:
Global biodegradable packaging materials in food packaging application: Biodegradable packaging materials are used for packaging various food products, including confectionery items, fruits, vegetables, convenience foods, meat, and dairy items. The demand for biodegradable packaging from the food sector is driven by factors such as changing consumer behaviors and the rising preference for convenience foods, which mandate the use of special types of packaging.
“Growing concerns regarding environmental conservation and global warming are propelling the demand for biodegradable packaging materials. Consumers are increasingly preferring fresh food packed in environment-friendly packaging, leading to the growth of the global market for biodegradable food packaging products,” says Ajay Adikari, a lead analyst at Technavio for research on bio-chemicals and bio-materials.
Global biodegradable packaging materials in beverage packaging application: The biodegradable beverage packaging market is driven primarily by the rising number of health-conscious consumers. In emerging economies, such as India, China, and Brazil. Many companies are expected to make investments in R&D to develop suitable biodegradable packing materials that are cost-effective in the coming years.
Global biodegradable packaging materials market in pharmaceutical packaging application: Pharmaceutical packaging helps the product to store for a longer time and to prevent the damage (taste, loss of color, and odor) during storage, transportation, and at the time of utilization. Agricultural feedstock, waste, and marine food processing industry wastes are used to obtain the raw materials required for manufacturing biodegradable packaging materials.
The top vendors operating in the global biodegradable packaging market are:
- BASF
- International Paper Company
- Mondi
- Smurfit Kappa
- Stora Enso
Other prominent vendors in the market include Biopac, Georgia-Pacific, Holmen, Hood Packaging, Kruger, MeadWestvaco, NatureWorks, Novamont, Oji Paper Company, Rocktenn, and Mayr-Melnhof Karton.
A more detailed analysis is available in the Technavio report titled, ‘Global Biodegradable Packaging Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
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