The global market for biodegradable packaging is divided into plastic and paper based on the kind of product. In terms of product types, plastics dominated the global market for biodegradable packaging in 2020, and this dominance is anticipated to continue throughout the forecast period. The plastic market is further broken down into starch, polyhydroxyalkanoates (PHA), polylactic acid (PLA), and other substances. The two most important product type sub-segments are starch and PLA. Due to their excellent biodegradability and recyclable nature, they are widely employed in the food and beverage industry. Key growth factors for the global biodegradable packaging market include the rising demand for packaged food, an older population, and a fast developing beverage industry in Europe, North America, and Asia-Pacific.
By 2028, the market for Biodegradable Packaging is anticipated to reach US$ 37,919.6 million, growing at a CAGR of 20.8% between 2021 and 2028.
Key Leaders in the Biodegradable packaging Industry:
1) BASF SE: The largest chemical firm in the world, BASF was established in 1865 and is headquartered in Germany. Its products range from commonplace to specialised. The business also manufactures agricultural crop protection chemicals and automobile emissions control catalysts. German headquarters are in Ludwigshafen. On emollients made from bio-waste, BASF and RiKarbon establish an innovation cooperation until 2022.
2) Smurfit Kappa Group: Paper-based packaging is made and sold by Smurfit Kappa Group PLC. Containerboard is created by the company's mills, which are then used to create corrugated packaging at the company's facilities. The packaging products include folding cartons, solid board, and sack kraft paper. Dublin, Ireland serves as the headquarters. Built in 1934. In 2022, Smurfit Kappa commits more than USD23 million to a more sustainable future in Mexico.
3) Mondi Group: Mondi PLC manufactures and sells packaging and paper products under three major product-based divisions: corrugated packaging, which deals in cardboard made of recyclable fibres; engineered materials; personal grooming products; usable paper and films; flexible packaging; paper- and polycarbonate bags; and uncoated fine paper; printing papers for home, business, and professional use. Founded in 1967. The headquarters are in Weybridge, Great Britain. 2021 November in Vienna Mondi, a leader in packaging and paper, has built three brand-new customer engagement centres for its clients who utilise corrugated packaging. Through informative events, educational programmes, and customised seminars in physical, digital, or hybrid modes, "ThinkBoxes" enable the co-creation of package ideas that are better and more sustainable.
4) Rocktenn, Stora Enso: Leading in the bioeconomy, Stora Enso Oyj develops and produces solutions based on wood and biomass for a variety of industries and uses globally. Packaging Materials, Packaging Solutions, Biomaterials, Wood Products, Forest, Paper, and other are some of its operating segments. The division responsible for packaging solutions creates and markets high-end fiber-based packaging goods and services. Built in 1998. Helsinki, Finland serves as the headquarters. Together, Stora Enso and Tetra Pak will treble Poland's beverage carton recycling capacity. The two businesses will work together to provide the market circular solutions. The purchase of a comprehensive recycling system is anticipated to dramatically increase recycling across Central and Eastern Europe.
5) Clearwater Paper Corporation: Private label tissue, paperboard, and pulp-based goods are produced and sold by Clearwater Paper Corp. Spokane, Washington, is home to the headquarters. Established in 2008.
6) Amcor: Amcor is a leading provider of packaging solutions to the food, beverage, pharmaceutical, medical, household, personal care, and industrial sectors. Amcor is a leading global manufacturer of flexible and rigid plastic packaging. Operations are spread throughout 200 locations and 43 countries. built in 1896. Australia's Victoria serves as the headquarters. Amcor and the Alliance to Stop Plastic Waste have announced a new relationship.
7) Novamont S.P.A.:. Based in Novara, Italy, the manufacturer of bioplastic raw materials. Through the fusion of chemistry and agriculture, the company aids in the development of bioplastics and biochemicals, energising local bio-refineries and offering an environmentally friendly application, allowing customers to use resources effectively throughout their life cycles with positive social, economic, and environmental effects. Built in 1989. At Novara, Piemonte, Italy, the headquarters. In order to maximise spin-offs and grasp new opportunities in 2022, Versalis and Novamont are fortifying their relationship in order to boost synergies in the ecological transition of green chemistry.
8) Kruger Inc.: The largest supplier of tissue goods in both the consumer and out-of-home markets in Canada is Kruger Products L.P. (the Company), which has its headquarters in Mississauga, Ontario. Founded in 1904. Canada's Montreal headquarters.
*Definition: Any type of packaging that will naturally break down and degrade is considered biodegradable.
