Dublin, Dec. 28, 2020 (GLOBE NEWSWIRE) -- The "Biodegradable Packaging Market - Growth, Trends, Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The Biodegradable Packaging Market was valued at USD 89.57 billion in 2019 and is expected to reach a value of USD 121.38 billion by 2025 at a CAGR of 5.3% over the forecast period (2020-2025). Biodegradable Packaging solutions are finding increasing application in packaging owing to its low environmental impact, growing focus on recyclability and sustainability, government emphasis on efficient packaging management, and rising consumer awareness coupled with an increasing ban on plastic.
With the outbreak of Covid-19, many companies have begun shifting away from the sustainability goal of banning plastic. Some studies have suggested that the virus can be passed on through cardboard and plastic, which has resulted in increased usage of single-use materials across supermarkets to wrap products, like cling film for fruit and vegetables.
Key Market Trends
Beverage Packaging is Expected to be One of the Most Significant Applications
The market for biodegradable packaging in the Beverage sector is anticipated to witness growth with the never-ending demand for bottled water and non-alcoholic beverages. The demand for bottled-water is credited to consumers' propensity for specifically demanding high-quality drinking water, the fear of diseases as an aftermath of drinking polluted tap water, and the ease of portability and convenience provided by bottled water.?
An estimated number of 700,000 bottles are being littered every day in the United Kingdom alone, according to the Environmental Audit Committee. Such statistics indicate the serious need for biodegradable packaging solutions for beverages.
Due to the emerging demand for eco-friendly packaging in the beverage industry across Europe, US-based Crown Holdings Inc. has opened a new facility in Jakarta, Indonesia. Considering the country's robust economic growth and sizable population, such eco-friendly initiatives offer significant potential for biodegradable beverage packaging.
However, the lightweight and ease of manufacturing of plastic bottles compared to carton-based packages has been a major restraining factor of the bio-degradable packaging in the beverage packaging industry.
United States is Expected to Hold Major Market Share in North America
In the United States, the rising awareness among consumers and favorable regulations from the government is expected to drive the demand for biodegradable packaging over the forecast period.
According to the United States Environmental Protection Agency, the United States generates almost 80 million tons of packaging waste each year. About half of the packaging waste in the US comes from food and beverage products. And the agency mentions that large food corporations like Nestle and Unilever generate the majority of plastic waste.
With an increasing demand for biodegradable packaging from food chains, such as McDonald's, who are planning to use 100% sustainable packaging by 2025, manufacturers are choosing to use these opportunities to build consumer trust by proactively addressing the environmental issues rather than resisting change. Furthermore, it also creates an immense opportunity for biodegradable packaging manufacturers to penetrate the market and garner a higher market share.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Demand For Sustainable Products By Consumers And Brands
4.2.2 Stringent Government Regulations
4.3 Market Restraints
4.3.1 Growing investments for Recyclable Packaging Solutions
4.3.2 Lack of Supply of Bio-plastics and Related Materials
4.4 Industry Value Chain Analysis
4.5 Industry Attractiveness Porter's Five Forces Analysis
4.6 Technology Snapshot
4.7 Assessment of Impact of Covid-19 on the Industry
5 MARKET SEGMENTATION
5.1 Material Type
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Tetra Pak International SA
6.1.2 Amcor PLC
6.1.3 Mondi Group
6.1.4 Imex Packaging
6.1.5 Elevate Packaging Inc.
6.1.6 Kruger Inc.
6.1.7 Biopak PTY LTD (Duni Group)
6.1.8 Smurfit Kappa Group PLC
6.1.9 Berkley International Packaging Limited ?
6.1.10 Greenpack Limited
6.1.11 International Paper Company
6.1.12 Ranpak Holding Corporation
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/ry1h6o
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