Global Compostable Plastic Packaging Market – Industry Trends and Forecast to 2029

Market Analysis and Size

Packaging is one of the major industries overall world. The compostable plastic packaging is an easily compostable than other plastic packaging. Compostable plastic packaging is widely used in packaging products conveyed from one place to another, as plastic allows logistics companies to transport their goods over a large distance and in any ecological condition. In the wake of sustainable development, logistic end users industry are more inclined towards using compostable plastic packaging because it is not harmful to the environment and human health. Compostable plastic packaging helps to protect product from water, dust, and other weather conditions, thus helping keep packed products secure and safe.

Data Bridge Market Research analyses that the compostable plastic packaging market was valued at USD 1.61 billion in 2021 and is expected to reach USD 3.80 billion by 2029, registering a CAGR of 11.35 % during the forecast period of 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and technological advancements.       

Market Definition

Compostable products are materials that can easily disintegrate biodegrade into natural elements such as carbon dioxide, biomass and water in a composting environment and leave no harmful components in the soil. The compostable plastic packaging material contains PHA, PLA, starch blends, PBS, PBAT. These compostable mimic conventional plastic's positive qualities, such as durability, shelf stability, barrier properties, etc., with one difference specifically these materials are completely compostable. Compostable material provides nutrients to the earth when it has completely broken down into nature. For packaging material to qualify as compostable, they must completely decompose into natural elements within a short time after disposal.

Report Scope and Market Segmentation

Compostable Plastic Packaging Market Dynamics

Drivers

• Growing awareness regarding packaging waste in landfills and oceans

Increasing awareness of packaging waste leakage in public, specifically for plastic waste, into the environment has increased considerably during past years which has enforced to upsurge the demand for sustainable packaging from brand retailers and owners to choose the compostable plastic packaging materials which are likely to upsurge the demand of compostable plastic packaging in the market

• High demand in food industry

Food industries are growing continuously, which upsurge the demand of packaging material. Plastics have altered the food sector to higher levels. But, conventional petroleum-based plastics are non-biodegradable, which has produced lots of ecological problems such as the risk to degrading air and aquatic life so the food industries use compostable plastic packaging. It has emerged as a different approach for many industrial applications to control the hazard caused by non-compostable plastic. 

• Rise the demand of ecofriendly packaging

Increasing awareness regarding eco-friendly packaging overall the developed economies is rising the adoption rate of compostable plastic packaging in large companies, These companies are adopting compostable plastic packaging to retain their consumer base, which are expected to drive the compostable plastic packaging market globally.

Opportunities

• Increasing investment and technological advancement

Technological advancement along with the increasing levels of investment on research and development activities will further create many opportunities that will lead to the growth of the compostable plastic packaging market during the forecast period.

Also, the rising demand of sustainable packaging from various end user industries such as personal care, food and beverages, and others and growing awareness among the consumer regarding the adoption of compostable plastic packaging solutions are some of the major factors which will be expected to uplift the growth of the compostable plastic packaging market during forecast period

Restraints/ Challenges

• High cost of product

The high cost of the product and the availability of affordable alternatives will be expected to hamper the growth of the compostable plastic packaging market during the forecast period.

Also, the limited availability of the product will become the foremost and biggest challenge for the growth of the compostable plastic packaging market.

This compostable plastic packaging market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the compostable plastic packaging market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Compostable Plastic Packaging Market

Most of the industries have been negatively impacted during Covid-19 pandemic around the globe. This pandemic outbreak has significantly disrupted the manufacturing and supply-chain operations rate due to imposed lockdowns and other limitations that the government also imposed worldwide. This same applies to the compostable plastic packaging market. Furthermore, consumer demand has declined due to eliminating the non-essential products from their respective budgets but has augmented the demand for online commerce. However, as respective governments start to lift the imposed lockdowns, the global compostable plastic packaging market is anticipated to improve accordingly.

Recent Development

• In September 2021, WPO Polymers and BASF SE cooperate to distribute biopolymer ecovio® for certified compostable bags.
• In August 2021, Danimer Scientific LLC had acquired Novomer, Inc. which is a leading developer of conversion technology. It offers low net carbon inputs into the manufacturing of PHA-based resins.

Global Compostable Plastic Packaging Market Scope

The compostable plastic packaging market is segmented on the basis of material, application and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Material

• PBAT
• PBS
• PLA
• PHA
• Starch Blends
• Others

 Application

• Bags
• Pouches
• Boxes
• Bottles
• Cups
• Trays
• Plates and Bowls
• Other

End User

• Food Service
• Food and Beverage
• Cosmetics and Personal Care
• Homecare
• Healthcare
• Others

Compostable Plastic Packaging Market Regional Analysis/Insights

The compostable plastic packaging market is analysed and market size insights and trends are provided by country, products, usage, capacity, size, sealing and handle, shape, distribution channel and end-user as referenced above.

The countries covered in the compostable plastic packaging market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia and New Zealand, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, United Arab Emirate, Saudi Arabia, Egypt, Israel, South Africa, Rest of Middle East and Africa.

North America dominates the compostable plastic packaging market in terms of market share during the forecast period. This is due to the increasing demand for compostable plastic packaging in this region. North America dominates the compostable plastic packaging market due to the prevalence of several manufacturing companies along with growing number of research activities in this region

During the projected period, Asia-Pacific is likely to be the fastest developing region due to the growth of the retail sector in this region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Compostable Plastic Packaging Market Share Analysis

The compostable plastic packaging market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to compostable plastic packaging market.

Some of the major players operating in the compostable plastic packaging market are:

• TIPA Ltd (Israel)
• SmartSolve Industries (U.S.)
• Özsoy Plastik (Turkey)
• Ultra-Green Sustainable Packaging (U.S.)
• Hosgör Plastik (Turkey)
• Eurocell S.r.l (U.K.)
• Tetra Pak International S.A. (Switzerland)
• Kruger Inc. (Canada)
• Amcor PLC (Switzerland)
• Mondi (U.K.)
• Smurfit Kappa (U.S.)
• DS Smith (U.K.)
• Klabin SA (Brazil)
• Rengo Co. Ltd (Japan)
• WestRock Company (U.S.)
• Stora Enso (Sweden)
• Bemis manufacturing company (U.S.)
• Rocktenn (U.S.)
• BASF SE (Germany)

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