Biodegradable Paper and Plastic Packaging Global Market Report 2024

The biodegradable paper and plastic packaging market has grown rapidly in recent years. It will grow from $11.86 billion in 2023 to $13.05 billion in 2024 at a compound annual growth rate (CAGR) of 10.1%. The growth in the historic period can be attributed to consumer demand for diverse products, cost efficiency and scalability, focus on core competencies, environmental concerns.

The biodegradable paper and plastic packaging market is expected to see rapid growth in the next few years. It will grow to $19.24 billion in 2028 at a compound annual growth rate (CAGR) of 10.2%. The projected expansion during the forecasted period stems from several factors, notably driven by consumer inclinations, corporate commitments to sustainability, rising investments, and collaborations among industry players. Key trends expected during this period encompass heightened environmental consciousness, regulatory impetus toward sustainability, advancements in biodegradable material innovation, evolving consumer preferences, technological strides in production methods, and enhanced collaborations and partnerships across the sector.

The escalating preference for environmentally friendly products stands as a significant driver behind the projected growth of the biodegradable paper and plastic packaging market. This shift, driven by environmental consciousness, health concerns, corporate responsibility, and compliance adherence, fosters a demand for packaging that uses recyclable or biodegradable materials. Notably, studies such as the one conducted by Meyers in July 2022, encompassing over 10,000 individuals across 17 nations, revealed that 60% of global consumers prioritize sustainability in their purchases, with the U.S. slightly surpassing the global average at 61%. Additionally, data from Simon-Kucher in 2021 highlighted that 78% of respondents worldwide value environmental sustainability, with 34% willing to pay more for sustainable products. This burgeoning preference significantly propels the growth of biodegradable paper and plastic packaging.

The burgeoning inclination towards vegan and plant-based diets is poised to be a pivotal driver for the biodegradable paper and plastic packaging market. With the rise in demand for plant-based and vegan foods, there's a parallel demand for packaging aligned with these dietary choices. As per The Plant-Based Foods Association's report in April 2023, plant-based food sales in the U.S. surged to $8 billion in 2022, marking an approximate 6.67% increase from the previous year. This growing preference for plant-based diets directly influences the surge in demand for biodegradable paper and plastic packaging.

Innovation surfaces as a prominent trend shaping the biodegradable packaging market, with major players focusing on pioneering technologies and materials. Noteworthy efforts include ProAmpac's launch of ProActive Recyclable Paper-1000 in February 2023, a curbside recyclable paper-based packaging designed with heat-sealable properties, superior tear strength, and an effective moisture barrier. This innovation, tailored for frozen food and secondary packaging applications, emphasizes performance, stiffness, and moisture resistance.

Market leaders in the biodegradable paper and plastic packaging sector prioritize advanced packaging solutions to gain a competitive edge. Notably, a France-based producer introduced Plastic Free Paper in October 2021, a packaging option completely devoid of plastic or contentious materials, recyclable, and compostable. Created in collaboration with CITEO, this solution serves as an oxygen, fats, and mineral oils barrier, replacing plastics and chemical treatments while ensuring food safety and end-of-life management. These advancements underscore a pivotal shift towards sustainable and environmentally conscious packaging solutions, driven by consumer preferences and industry innovation within the biodegradable paper and plastic packaging market.

In May 2022, Inno-Pak, a US-based manufacturer specializing in a diverse array of eco-friendly packaging, successfully acquired Stalk Market, the undisclosed transaction aimed at bolstering Inno-Pak's compostable product range. This strategic move solidifies our dedication to delivering inventive, economical, and sustainable packaging solutions to supermarket, C-store, and food service sectors. Stalk Market, a US-based manufacturer renowned for its biodegradable plant-based products and packaging, caters specifically to the restaurant and commercial foodservice industries.

Major companies operating in the biodegradable paper and plastic packaging market report are Riverside Paper Co Inc., SmartSolve Industries, Ultragreen, Tetra Pak Private Limited, Kruger Inc., Amcor PLC, Mondi plc, International Paper, Smurfit Kappa Group, WestRock Company, BASF SE, Stora Enso Oyj, Rock-Tenn Company, DS Smith plc, BagInCo International, Reynolds Group, Plastic Suppliers Inc., Huhtamaki Oyj, Innovia Films, Futamura Chemical Co. Ltd., NatureWorks LLC, Novamont S.p.A., Biopac UK Ltd., Vegware Ltd., Eco-Products Inc., Genpak LLC, Pactiv LLC, Be Green Packaging LLC, Green Century Enterprises Inc., BIO-ON S.p.A., TIPA Corp., Taghleef Industries.

Asia-Pacific was the largest region in the biodegradable paper and plastic packaging market in 2023. The regions covered in the biodegradable paper and plastic packaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the biodegradable paper and plastic packaging market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

There are several key types of biodegradable paper and plastic packaging, including starch-based plastic, cellulose-based plastic, polylactic acid (PLA), poly-hydroxy-alkanoates (PHA), among others. Starch-based plastic involves complex blends of starch with biodegradable plastics such as PLA, PBAT, PBS, PCL, and PHAs. These materials find application in various packaging sectors, including beverages, personal and home care products, electronics, food, pharmaceuticals, and more.

The biodegradable paper and plastic packaging market research report provides biodegradable paper and plastic packaging market statistics, including biodegradable paper and plastic packaging industry global market size, regional shares, competitors with a biodegradable paper and plastic packaging market share, detailed biodegradable paper and plastic packaging market segments, market trends and opportunities, and any further data you may need to thrive in the biodegradable paper and plastic packaging industry. This biodegradable paper and plastic packaging market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The biodegradable paper and plastic packaging market consist of the sales of bags, pouches, containers, boxes, cups, trays, and wraps made from biodegradable materials. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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