Biodegradable products are naturally split by biological agents such as fungi and bacteria into raw materials. These are generally those products that can be rotten by microbes and other biological processes which are natural. Biodegradable goods include those that comprises of paper, food waste, fabric and wood. Biodegradable packaging is generally defined as a means of giving a naturally degradable protection utilized majorly for information, identification, presentation, and convenience for products from production to utilization. The biodegradable food packaging is different from non-biodegradable packaging as former degrades completely and quickly when decomposed without any poisonous emission. The sector of biodegradable packaging is a small segment and is at nascent stage when compared to overall packaging industry of the globe. However, recent advancement and change in techniques has upliftment the global biodegradable food packaging market. Moreover, increasing consumer awareness related to utilization of biodegradable food based products is anticipated to intensify the growth of the biodegradable food packaging market till 2029.
Change in lifestyle along with increased consumption of packaged food products is expected to drive the growth of global biodegradable food packaging market over the forecast period. Besides this, rising emphasis on sustainable packaging by retail conglomerates and rising adoption of plastic bags all over the world is expected to bolster the growth of global biodegradable food packaging market growth between 2021 and 2029. Rising robust environmental concerns all over the world due to increase in pollution along with higher consumer preferences for biodegradable material based products is anticipated to foster the growth of biodegradable food packaging market over the forecast period
Biodegradable food packaging market has been estimated to be valued at US$ 5,275.2 Mn by the end of 2021 and is expected to attain revenue of US$ 11,717.6 Mn by 2029, expanding at a CAGR of 11.0% during the forecast period 2021-2029.
Purpose of the Report
The purpose of this strategic research study titled “Global Biodegradable Food Packaging Market - Growth, Future Prospects, Competitive Analysis and Forecast, 2021 – 2029” is to provide company executives, industry investors, and industry participants with in-depth insights to enable them make informed strategic decisions regarding the opportunities in the global biodegradable food packaging market.
Target Audience
USP and Key Offerings
The report titled “Global Biodegradable Food Packaging Market - Growth, Future Prospects, Competitive Analysis and Forecast, 2021 – 2029” offers strategic insights into the global biodegradable food packaging market along with the market size and estimates for the duration 2018 to 2029. The said research study covers in-depth analysis of multiple market segments based on material type and application and cross-sectional study across different geographies. In order to help strategic decision makers, the report also includes competitive profiling of the leading biodegradable food packaging vendors, their expansion strategies, market positioning, and latest developments. Other in-depth analyses provided in the report include:
Overall, the research study provides a holistic view of the global biodegradable food packaging market, of growth, offering market size and estimates for the period from 2018 to 2029, keeping in mind the above mentioned factors.
Rising consumer demand towards biodegradable packaging as well as fluctuating oil prices is likely to strengthen the growth of alternative packaging materials growth during the forecast period. Besides this, the ban of lightweight single-use plastic bags is also strengthening the growth of biodegradable food packaging market. Rising demand of consumers for cost effective, better featured and convenient products, increasing need for convenience among consumers, development of new packaging material and higher awareness of environmental concerns as well as adoption of new regulations are anticipated to be the key growth drivers for biodegradable food packaging market growth till 2029. By application, the biodegradable food packaging market growth is segmented by dairy & beverages, fruits, vegetables, meat & related products and others. In 2021, dairy & beverages segment is estimated to contribute highest share in the total revenue of global biodegradable food packaging market. Rising contract manufacturing activities especially in Asian region is anticipated to boost the growth of this segment over the forecast period. Higher adoption of eco-friendly packaging instead of conventional packaging for various other products is expected to stimulate the growth of fruits & vegetables segment at a robust CAGR during the forecast period.
It has been noticed that consumers are becoming more apprehensive towards environmental impact plastic packaging blends. This has fostered the companies to look beyond the utilization of petroleum based plastics to other alternatives. Thus, rising inclination towards naturally manufactured products and changing mindset of consumer towards sustainable goods is expected to propel the growth of biodegradable food packaging market till 2029. The global biodegradable food packaging market is segment on the basis of geography. Europe contributed the highest revenue share in total biodegradable food packaging market with a contribution which is estimated to be more than 40% by end of 2021. Followed by it, North America stood at second position in the same year. Higher health consciousness and awareness along with high spending population in these developed regions is anticipated to contribute for double digit growth rate of these regions during the forecast period. Rising government interest in order to promote biodegradable food packaging based products and rising trend of people towards spending on biodegradable products is anticipated to intensify the growth of biodegradable food packaging market in Asia Pacific region till 2029.
Biodegradable packaging decomposes easily and rapidly and normally does not require support of any external channel or mode for degradation. Depending on the choice of materials utilized in production of biodegradable packaging, the features, consumer elements as well as appearance of packaging of the product varies. It has been noticed that biodegradable food packaging has become a crucial part of global overall packaging market. In order to obtain customer satisfaction and changing demand, majority of the general packaging companies are entering into manufacturing of biodegradable packaging products. The companies are highly focused on and are adopting various strategies such as innovation and research and development in order to diversify their product portfolio and as well as to gain the significant market share in global biodegradable food packaging market. Moreover the lack of government support in various countries may hamper the growth of the market in future. By material type, plastics are estimated to contribute the highest revenue share in global biodegradable food packaging market in 2021 especially for dairy, fruits and vegetables. Rising demand for biodegradable food packaging from meat and related products is expected to contribute for robust growth of this segment over the period 2021-2029.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Biodegradable Food Packaging market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
Application
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Material Type
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
