Global Biodegradable Packaging Material Market Expected to Deliver Dynamic Progression until 2028

Biodegradable packaging materials are manufactured using plant-based materials, such as paper, paperboard, and biodegradable plastic, and do not have any harmful materials. Biodegradable packaging materials are products that can be decomposed into water, carbon dioxide, and biomass without oxygen relatively faster than compostable materials.

The Fact.MR report on the biodegradable packaging material market presents valuable insights about the potential business opportunities for biodegradable packaging material manufacturers and recent developments in the biodegradable packaging material market. On conducting a thorough market research, accurate conclusions are drawn about the biodegradable packaging material market growth. The qualitative and quantitative information about the biodegradable packaging material market featured in the report can help biodegradable packaging material manufacturers to make appropriate business decisions in the upcoming years.

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Stringent Regulations against Single-Use Packaging Drive Demand for Biodegradable Packaging Materials

According to statistics declared by the World Bank, more than 2 billion tons of solid waste was generated across the globe in 2016, and with the increasing global population, annual waste generation may increase by 70% to reach 3.4 billion tons by 2050. Another report published by the World Economic Forum opined that in 2015, over 300 million tons of plastic waste was generated across the world, and only 14% of which was recycled.

Considering the perils of rising plastic waste generation, a majority of governments and institutes, such as the European Commission, have imposed a ban on the use of single-use plastic packaging materials. Players in the biodegradable packaging material market are aiming to leverage lucrative business opportunities as manufacturers are shifting towards eco-friendly packaging materials while complying with strict government regulations.

Shift from Traditional to Biodegradable: Opportunities and Challenges for Stakeholders Across Supply Chain

The surge in biodegradable packaging can be attributed, in part, to regulatory challenges pertaining to the use of traditional plastics. The institution-industry collaboration to mitigate global warming has led to adoption of sustainable materials. The growing emphasis towards ‘eco-friendly packaging’ is likely to create sustained opportunities for biodegradable packaging material manufacturers in the long-term. However, the onus is on manufacturers to scale up and offer a wide range of functional products that are compatible with the evolving needs of various industries.

The lucrativeness of biodegradable packaging materials market has led to the foray of a large number of domestic and local players. The ambiguity over what qualifies as ‘biodegradable packaging material’ has also made it necessary for governments to have the necessary regulatory frameworks in place.

The broader impact of a shift towards biodegradable packaging is all-encompassing – from material providers to recyclers, every player in the supply chain is involved. Further, many biodegradable materials cannot be recycled, which continues to create challenges in terms of investment. The challenges are not limited to recyclability alone – ineffective waste management continues to create shortage as well as oversupply of raw materials used in the manufacture of biodegradable packaging.

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Stringent Regulations against Single-Use Packaging Drive Demand for Biodegradable Packaging Materials

According to statistics declared by the World Bank, more than 2 billion tons of solid waste was generated across the globe in 2016, and with the increasing global population, annual waste generation may increase by 70% to reach 3.4 billion tons by 2050. Another report published by the World Economic Forum opined that in 2015, over 300 million tons of plastic waste was generated across the world, and only 14% of which was recycled.

Considering the perils of rising plastic waste generation, a majority of governments and institutes, such as the European Commission, have imposed a ban on the use of single-use plastic packaging materials. Players in the biodegradable packaging material market are aiming to leverage lucrative business opportunities as manufacturers are shifting towards eco-friendly packaging materials while complying with strict government regulations.

Competitive Landscape

The Fact.MR market research report provides detailed information about the recent developments in the biodegradable packaging material market. Readers can find comprehensive information about the leading players in the biodegradable packaging material market in order to understand the recent strategies adopted by their competitors. The companies featured in the Fact.MR report on biodegradable packaging material market include Smurfit Kappa UK Ltd., International Paper Company, WestRock Company, Mondi Limited, DS Smith PLC, Tetra Pak International S.A, Amcor Limited, Stora Enso Oyj, Toray Industries, Inc., and Kruger Inc.

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