The Global Biodegradable Packaging Market was valued at US$ 3.92 billion in 2016, according to a new report published by Coherent Market Insights. Increasing food and beverages packaging end-use industry to sustain the ever increasing population, and the consumer and industry awareness towards the use of eco-friendly products for a sustainable environment is surging demand for biodegradable packaging. Biodegradable packaging materials are naturally derived polymers that are made from various agricultural products such as starch, cellulose, proteins, and plant oils. The biodegradable polymers derived from these sources are mainly renewable and are helpful for maintaining a sustainable environment. The conventional plastics used for packaging are very harmful, non-biodegradable, and leads to global warming, water and air pollution. Thus, the governments of various countries have imposed various regulations to ban the use of conventional plastic bags; which in turn has increased the consumption of paper and plastic biodegradable bags for packaging.
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The food and beverages packaging segment is projected to witness significant growth in biodegradable packaging market over the forecast period, owing to technological advancements regarding reducing plastic waste and developing eco-friendly disposable materials. Increasing environmental concerns and stringent government regulations regarding waste disposal are propelling demand for development of new biodegradable packaging materials, which can be recycled easily. Moreover, ban on the use of conventional packaging materials in food and beverage packaging, increasing awareness regarding use of bio-based products, growing consumption of packaged food, and growing beverages industry globally are major drivers for growth of the biodegradable packaging market. The global biodegradable packaging market is segmented into various end-use industries namely food, beverages, pharmaceuticals, personal/homecare, and others. Food is the largest end-use industry segment, followed by beverages.
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