Biodegradable Packaging Market

The biodegradable packaging market is estimated to be valued at USD 111.55 Bn in 2024, growing at a compound annual growth rate (CAGR) of 6% from 2024 to 2031. The growing awareness about environment protection and depletion of natural resources has led to a rise in the demand for sustainable and eco-friendly packaging solutions. Biodegradable packaging is considered as one of the most effective alternatives to conventional plastic packaging. Biodegradable packaging is manufactured using renewable and recyclable raw materials like paper, leaves, wood, etc. that can decompose and break down into natural elements within a short span of time without causing pollution. The packaging decomposes completely when in contact with microorganisms such as bacteria and fungi. This prevents biodegradable packaging from accumulating and clogging landfills. With rising environmental concerns and stringent regulations against single use plastics, the biodegradable packaging market is expected to witness significant growth in the coming years.

 Market Dynamics:

The global phenolic resins market is driven by the robust growth of the construction industry. Phenolic resins are widely used in wood adhesives for building and construction applications owing to their high heat resistance and dimensional stability. Rapid urbanization and increasing construction of residential and commercial buildings in developing nations is driving consumption. Moreover, wide application in automotive brakes, clutch facing, and other friction components on account of their high friction coefficient and temperature resistance also supports market growth. However, volatility in raw material prices may hamper the market growth. The development of bio-based phenolic resins using renewable feedstock presents lucrative opportunities for market players.

 Key Features of the Study:

• This report provides an in-depth analysis of the global biodegradable packaging market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
• It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global biodegradable packaging market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include BASF SE, Smurfit Kappa Group, Mondi Group, Rocktenn, Stora Enso, Clearwater Paper Corporation, Amcor, Novamont S.P.A., Kruger Inc., Reynolds Group Holding Limited, International Corp., Solenis, DuPont, Ball Corp, Novamont, Tetra Pak International SA, Biopak PTY, Imex Packaging, Elevate Packaging Inc, and Elevate Packaging
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• The global biodegradable packaging market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global biodegradable packaging market

Market Segmentation

• Type:
• • Plastic
    • Starch
    • Cellulose
    • PLA
    • PHA
    • Others
  • Paper
    • Kraft
    • Flexible
    • Corrugated
    • Box Board
    • Others
• End-Use Industry:
• • Food
  • Beverage
  • Pharmaceutical
  • Personal/Homecare
  • Others
• Regional:
• • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
• Company Profiles:
• • BASF SE
  • Smurfit Kappa Group
  • Mondi Group
  • Rocktenn
  • Stora Enso
  • Clearwater Paper Corporation
  • Amcor
  • Novamont S.P.A.
  • Kruger Inc.
  • Reynolds Group Holding Limited
  • International Corp.
  • Solenis
  • DuPont
  • Ball Corp
  • Novamont
  • Tetra Pak International SA
  • Biopak PTY
  • Imex Packaging
  • Elevate Packaging Inc