The escalating demand for eco-friendly packaging solutions has led to a surge in the adoption of biodegradable paper and plastic packaging. With its carbon-neutral production process and applicability in diverse industries such as pharmaceuticals, food, healthcare, and the environment, the market is experiencing substantial growth. Increasing consumer awareness regarding sustainable packaging and the phasing out of single-use plastics are expected to be critical drivers, propelling sales and profits for industry players.
According to Data Bridge Market Research the Biodegradable Paper and Plastic Packaging Market is expected to reach USD 2,615,751.33 thousand by 2029. The market is expected to grow with a CAGR of 7.8% in the forecast period of 2022 to 2029.
“Increase in the use of biodegradable plastics”
The growing utilization of biodegradable plastics drives the demand for biodegradable paper and plastic packaging. As environmental concerns mount, there is a rising preference for sustainable packaging solutions. Biodegradable materials like bioplastics offer an eco-friendly alternative to traditional packaging options. They are designed to break down naturally over time, reducing environmental impact. The increasing adoption of biodegradable plastics aligns with the growing consumer demand for greener packaging choices, contributing to expanding the biodegradable paper and plastic packaging market.
What restraints the growth of the biodegradable paper and plastic packaging market?
“Higher cost of sustainable packaging materials”
The higher cost of sustainable packaging materials restrain the biodegradable paper and plastic packaging market. While there is a growing demand for eco-friendly packaging solutions, the production and sourcing of biodegradable materials often incur higher costs compared to conventional packaging materials. This cost disparity can make biodegradable options less economically viable for some businesses, limiting their adoption. To overcome this challenge, efforts are being made to improve production efficiencies and reduce the costs of sustainable packaging materials, encouraging wider market acceptance.
Segmentation: Biodegradable Paper and Plastic Packaging Market
The biodegradable paper and plastic packaging market is segmented on the basis of packaging type, product, usage, distribution channel, application, packaging layer and end user.
- On the basis of packaging type, the biodegradable paper and plastic packaging market has been segmented into paper and plastics.
- On the basis of product, the biodegradable paper and plastic packaging market has been segmented into straws, bags, baking sheets, paper plates, clamshell sandwich containers, Portion Cups, trays, cutlery, bowls, Pouchesf and sachets, lidded, and others.
- On the basis of usage, the biodegradable paper and plastic packaging market has been segmented into single-use and reusable.
- On the basis of distribution channel, the biodegradable paper and plastic packaging market has been segmented into e-commerce, supermarkets/hypermarkets, convenience stores, specialty stores, and others.
- On the basis of application, the biodegradable paper and plastic packaging market has been segmented into Food Packaging, Beverage Packaging pharmaceuticals packaging, personal and home care packaging, electronic appliance packaging, and others.
- On the basis of packaging layer, the biodegradable paper and plastic packaging market has been segmented into primary packaging, secondary packaging, and tertiary packaging.
- On the basis of end user, the biodegradable paper and plastic packaging market has been segmented into restaurants, hotels, tea and coffee shops, sweets and snacks stores, cafeteria and others.
Regional Insights: Germany Dominates the Biodegradable Paper and Plastic Packaging Market
Germany is expected to dominate the Europe biodegradable paper and plastic packaging market due to the increasing need for lower carbon footprint materials.
In France, growing consumer awareness related to eco-friendly packaging boosts the demand for biodegradable paper and plastic packaging in every sector.
The U.K. strengthening government regulations related to packaging is expected to increase the biodegradable paper and plastic packaging demand among end-users.
To know more about the study visit, https://www.databridgemarketresearch.com/reports/europe-biodegradable-paper-plastic-packaging-market
Recent Development
- In October 2021, VPK Group launched the DA Alizay industrial site, located in the Normandy region, into a hub for sustainable development in the circular economy. VPK Group announces to carry out the rebuilding of the paper machine with Valmet Oyj
- In November 2021, Mondi invested €20 million to improve the sustainability of its pulp production at the Frantschach mill in Austria. This new plant equipment will make Mondi’s pulp production even more efficient and sustainable. This will further help to gain a customer base
The Prominent Key Players Operating in the Biodegradable Paper and Plastic Packaging Market Include:
- Smurfit Kappa (Ireland)
- DS Smith (U.K.)
- Tetra Pak (Switzerland)
- Mondi (Austria)
- International Paper (U.S.)
- VPK Group (Belgium)
- Sonoco Products Company (U.S.)
- STOROPACK HANS REICHENECKER GMBH (Germany)
- WestRock Company (U.S.)
- Stora Enso (Finland)
- Eurocell srl (Italy)
- Novamont S.p.A. (Italy)
- OSQ (U.K.)
- BIO-LUTIONS International AG (Germany)
- TIPA LTD (Israel)
- Robert Cullen Ltd. (U.K.)
- BioApply (Italy)
- CPS Paper Products (U.S.)
- The Biodegradable Bag Company Ltd. (U.K.)
- Hosgör Plastik (Turkey)
Above are the key players covered in the report, to know about more and exhaustive list of biodegradable paper and plastic packaging market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Europe Biodegradable Paper and Plastic Packaging Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Europe vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
