Published on : Dec 09, 2019
ResearchMoz.us has announced the addition of a report, titled “Global Biodegradable Paper Packaging Materials Market Insights, Forecast to 2025”. The report on the biodegradable paper packaging materials market offers an elaborate assessment of key growth trends and drivers, recent developments in the market, the competitive ecosystem, and opportunity and challenges analysis. Segments in the report are created by product type and application. The forecast period of the report if 2019 to 2025.
Factors that are driving the market forward includes environmental concerns that are taken seriously worldwide. For instance, in the United Kingdom, 700,000 bottles are littered daily. Thus, it can be gauged how important eco-friendly packaging is for beverages in the region. Already, companies like PepsiCo are using recyclable PET bottles. In North America, PepsiCo’s PET bottle account for 30% of total packaging volume. This makes 7% of global packaging volumes.
There is also Kroger Co., a grocery chain in the United States, that plans to go plastic free by 2025. To understand how big this move is, it is important to realize the change the chain envisages. Each year it orders 6 billion bags. And, it is the largest grocery chain in the country with about 2800 stores. This means that it plans to serve it is more than 9 million consumers every day in biodegradable bags. This alone is set to drive notable demand in the biodegradable paper packaging materials market.
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It is also pertinent to note here that it is as more and more people realize the harmful impact of plastic and micro plastics and how it enters food chain and governments amp up their efforts further, the growth curve of global biodegradable paper packaging materials market will only take on a higher trajectory.
It has been predicted that owing to a number of factors, the global biodegradable packaging materials market will see a steady CAGR (Compound Annual Growth Rate) which will create notable growth opportunities for players operating in the playfield. It will also improve the value of the said market considerably.
The significant growth that the global biodegradable paper packaging materials market is set to chart will lead to more players entering the fray. And, that means that the already highly fragmented competitive landscape will be even more fragmented. To add to it, there are several regional players gaining clout. It is a result of low entry barriers and accruing gains. Key players that mark the landscape include Amcor Limited, Sealed Air Corporation, Mondi Group PLC, and Tetra Pak International SA, among others. To maintain edge, players go for mergers and acquisitions. Many explore synergies with potential partners for fruitful collaborations.
Some of the recent developments that the market has observed are Tetra Pak, new packaging material – Artistry. It added that extra element of superior look and feel to products. Besides., Amcor came up with sustainable packaging solutions. It is particularly significant because as awareness about environment is catching up with people, demand for this type of packaging is rising rapidly.
Also, on the regional front, North America will hold a major share as awareness regarding and adoption of biodegradable material is rising at a good pace and the governments in the region are encouraging the same. Also, move from perishable products to non-perishable options to reduce food wastage is also helping the global biodegradable paper packaging materials market grow. As per New York Times, United States wastes about 60 million metric ton of food. Packaged food on the other hand has a longer shelf life and thus prevents wastage.