Global Biodegradable Packaging Materials Market 2017-2021
About Biodegradable Packaging Materials
Packaging includes an extensive range of materials such as paper, board, plastic, metal, glass, wood, and other materials. Biodegradable materials such as bioplastics and paper are widely used in packaging applications because of their sustainable nature, appearance, and properties. These materials are decomposed naturally by microorganisms. Biodegradable packaging differs from conventional non-biodegradable packaging in terms of raw materials, production technology, applications, and composting. Biodegradable packaging materials are used in all levels of packaging such as primary, secondary, and tertiary packaging.
Technavio’s analysts forecast the global biodegradable packaging materials market to grow at a CAGR of 10.55% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global biodegradable packaging materials market for 2017-2021. To calculate the market size, the report covers the present scenario and the growth prospects of the global biodegradable packaging materials market for 2017-2021.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Biodegradable Packaging Materials Market 2017-2021
Technavio recognizes the following companies as the key players in the global biodegradable packaging materials market: BASF, International Paper, Mondi, Smurfit Kappa, and Stora Enso.
Other Prominent Vendors in the market are: Biopac, Georgia-Pacific, Holmen, Hood Packaging, Kruger, MeadWestvaco, NatureWorks, Novamont, Oji Paper Company, Rocktenn, and Mayr-Melnhof Karton.
Commenting on the report, an analyst from Technavio’s team said: “One trend in market is cost -effective biodegradable plastic packaging. An emerging trend in the market is the focused effort by the market players to produce cost-effective biodegradable packaging materials. Vendors are investing in new technologies to develop cost-effective methods of production to overcome the challenges in the production stage. Many manufacturers are working toward the development of cheaper PLA, a type of bioplastic, which is used commonly for manufacturing packaging materials and disposable utensils.”
According to the report, one driver in market is support for bio-based and biodegradable packaging materials. Conventional plastics do not degrade within a short span and are a cause of landfilling. On the contrary, bioplastics and paper are degraded rapidly by microbes. Retailers play a leading role in encouraging the consumers to adopt bio-based packaging materials. In recent years, retailers are actively adapting bags made of biological materials and biodegradable packaging. The increased adoption of sustainable packaging products by retailers will increase the replacement of non-renewable packaging materials with renewable ones. Manufacturers and retailers that adopt biodegradable packaging materials benefit through cost cuts and tax reductions. The renewability and recyclability of bio-based packaging materials also act as key criteria for the adoption of these materials by retailers. The concerns regarding global warming, carbon emission, and environmental hazards and the need for reducing waste are increasing in many countries, which are increasing the adoption of environment-friendly packaging materials.
Further, the report states that one challenge in market is high cost of biodegradable packaging materials. The relatively higher price of bioplastic materials compared with traditional plastics is a major challenge faced by the market. The lack of adequate technology and the lack of availability of feedstock are increasing the prices of biodegradable materials. Some of the biodegradable products are approximately 10 times costlier when compared with non-biodegradable materials. The rising prices of renewable raw materials, such as corn, used for manufacturing bioplastics are also hindering the market growth. The high price of biodegradable packaging materials will reduce the demand as consumers will switch to cheaper non-renewable packaging materials.
BASF, International Paper, Mondi, Smurfit Kappa, Stora Enso, Biopac, Georgia-Pacific, Holmen, Hood Packaging, Kruger, MeadWestvaco, NatureWorks, Novamont, Oji Paper Company, Rocktenn, and Mayr-Melnhof Karton.