Global biodegradable loose fill packaging market was valued at US$ 158.9 million in 2016, according to Global Biodegradable Loose Fill Packaging Market report, by Material (Starch, Recycled Paper, and Others), by Application (Consumer Goods Packaging, Pharmaceutical Packaging, Cosmetics & Personal Care Products Packaging, and Others), published by Coherent Market Insights. The biodegradable loose fill packaging market is expected to register a CAGR of 13.0% over the forecast period (2018-2025), reaching US$ 673.4 million by 2025.
Rising awareness regarding harmful effects of plastic pollution is propelling demand for biodegradable packaging solutions, which will in turn support growth of the biodegradable loose fill packaging market. According to data provided by Ocean Crusaders, a plastic bag can kill numerous animals as plastics take extended period of time to disintegrate. Thus, plastic pollution has become a major environmental concern globally.
Furthermore, growing demand for protective packaging is another key factor for the market growth, as loose fill packaging is a type of protective packaging. According to the study of Coherent Market Insights, in 2017, protective packaging accounted for the 33.23% market share in the global e-commerce packaging market.
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Key Trends and Analysis of the Global Biodegradable Loose Fill Packaging Market:
Key Takeaways of the Market:
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