The Biodegradable Packaging Market was valued at USD 81.70 billion in 2020, and it is expected to reach USD 118.85 billion by 2026, registering a CAGR of 6.35% during the period, 2021-2026.

Packaging is a technology that involves enclosing and protecting various types of products for storage, distribution, sale and use. The increasing demand for healthy, safe, convenience food, and growing industry & consumer awareness towards eco-friendly products in the recent past in Asia Pacific, Europe and North America respectively, has been rapidly driving the global biodegradable packaging market. Biodegradable refers to the ability of materials to break down and return to nature within a short time after disposal.

A detailed report on Global Biodegradable Packaging  Market providing a complete information on the current market situation and offering robust insights about the potential size, volume, and dynamics of the market during the forecast period, 2021-2027.

Top Key Players in Biodegradable Packaging  market: BASF SE, Smurfit Kappa Group, Mondi Group, Rocktenn, Stora Enso, Clearwater Paper Corporation, Amcor, Novamont S.P.A., Rocktenn, Kruger Inc., Smurfit Kappa Group, Reynolds Group Holding Limited, and International Corp.

Regional Analysis For Biodegradable Packaging  Market:

Besides segmental breakdown, the report is highly structured into region wise study. The regional analysis comprehensively done by the researchers highlights key regions and their dominating countries accounting for substantial revenue share in the Biodegradable Packaging market. The study helps understanding how the market will fare in the respective region, while also mentioning the emerging regions growing with a significant CAGR. The following are the regions covered in this report.

The food and beverages packaging segment is projected to witness significant growth in biodegradable packaging market over the forecast period, owing to technological advancements regarding reducing plastic waste and developing eco-friendly disposable materials. Increasing environmental concerns and stringent government regulations regarding waste disposal are propelling demand for development of new biodegradable packaging materials, which can be recycled easily.

Key takeaways of the market:

• Europe is projected to be the largest region in global biodegradable packaging market. It accounted for around 50.3% share of overall biodegradable packaging market in 2016, in terms of revenue. The market in this region is expected to be primarily driven by rampant consumption of biodegradable plastic and paper bags in food, beverages, and pharmaceutical end-use industries. The use of conventional plastic bags creates major environmental issues such as water and air pollution, global warming, and are very harmful for humans as well. This has allow the government of Europe to impose various regulations for banning the use of plastic bags around the region. The countries such as Italy, Germany, Austria, Bulgaria, France, and U.K. are now switching to biodegradable products for packaging to maintain the environment sustainability. Thus, Europe is positioned as the largest market for biodegradable packaging.
• North America is expected to emerge as the second-largest market over the forecast period. The rise in consumer awareness for the eco-friendly products, regulations imposed on the use of conventional plastic bags, growing pharmaceuticals industry, and rising consumer preference for packaged food in the region is driving growth of the biodegradable packaging market in the region.

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