Biodegradable Packaging Production for the Healthcare Industry is a Great Opportunity for the Market

Carbon footprint refers to the total carbon emissions by a single entity or person that can be accessed on the basis of greenhouse gases such as CO2 throughout the product's life cycle and the person's life. It is calculated on the terms of major consumption categories such as: housing, travel, food, product and services. The calculation estimates the climatic changes impact of each activity being performed providing accurate results for widespread effect on the environment.        

Global biodegradable paper & plastic packaging market is expected to reach USD 7,124,689.09 thousand by 2028 from USD 3,803,952.40 thousand in 2020 growing at a substantial CAGR of 8.1% in the forecast period of 2021 to 2028. It is considered the most precise and beneficial material for the protection of food items. People have begun to consume biodegradable packaging materials when transporting food goods. Therefore, the demand for biodegradable paper & plastic packaging is increasing. Biodegradable paper & plastic packaging has advantages and is used in different applications so businesses produce and introduce the technology to satisfy consumer demand for benefits from various sources.            

Growing consumer awareness about the properties of eco-friendly packaging across the world will drive the market's growth rate

Excessive packaging waste and toxic material dumping into the environment have raised the concerns for eco-friendly packaging of materials in order to make the decomposition procedure easier to handle. Low carbon packaging material has become the focus in packaging industries as it is environmentally friendly and can bring the toxic packaging material to its original form. Development in the areas of low carbon and environmental material by exploring new and innovative materials is of great importance to green packaging growth in the global market. Thus, growing consumer awareness about the properties of eco-friendly packaging is a major driver for the market.

Report Scope and Market Segmentation

Segment Analysis:

Global biodegradable paper & plastic packaging market is categorized into three notable segments which are based on the material, type and end-user.

• On the basis of material, the biodegradable paper & plastic packaging market is segmented into plastic and paper. In 2021, plastic segment is expected to dominate the global biodegradable paper & plastic packaging market with 81.80% market share because of the characteristics of its reuse and recyclability. It reduces the cost and the release of carbon footprint is very negligible at the time of manufacturing which makes it very eco-friendly in nature. In Asia-Pacific, plastic segment is dominating due to increase in demand in food and beverages area.
• On the basis of type, the biodegradable paper & plastic packaging market is segmented into plastic and paper. In 2021, plastic segment is expected to dominate the global biodegradable paper & plastic packaging market with 81.80% market share because the papers are easy to reuse and recycle. In Asia-Pacific, plastic segment is dominating due to increase in demand in medical device, agriculture and aerospace industry.

The plastic segment will dominate the type segment of the biodegradable paper & plastic packaging market

The plastic segment will emerge as the dominating segment under type. This is because of the growing number of infrastructural development activities in the market especially in the developing economies. Further, growth and expansion of the materials and packaging industry all around the globe will further bolster the growth of this segment.

• On the basis of end-user, the biodegradable paper & plastic packaging market is segmented into packaging, food and beverage, catering service wares, personal and home care, healthcare and others. In 2021, food and beverage segment is expected to dominate the global biodegradable paper & plastic packaging market with 44.48% market share because of the increased demand for packaging the food materials with cost savings and providing the shelf life of the food materials to get increased, providing the consumers with high quality and healthy food.

The food and beverage segment will dominate the end-user segment of the biodegradable paper & plastic packaging market

The food and beverage segment will emerge as the dominating segment end-user segment. This is because of the growing number of food and beverage outlets in the market especially in the developing economies. Further, growth and expansion of research development services on a global scale will further bolster the growth of this segment.

Major Players         

Data Bridge Market Research recognizes the following companies as the market players in market: Riverside Paper Co. Inc. (U.S.), SmartSolve Industries (U.S.), Özsoy Plastik (Turkey), Ultra Green Sustainable Packaging (U.S.), Hoşgör Plastik (Turkey), Eurocell S.r.l (U.K.), Tetra Pak International SA (Switzerland), Kruger Inc. (Canada), Amcor PLC (Switzerland), Mondi (U.K.), International Paper Company (U.S.), Smurfit Kappa (U.S.), DS Smith (U.K)., Klabin SA (Brazil), Rengo Co. Ltd (Japan), WestRock Company (U.S.), Stora Enso (Sweden), Bemis Manufacturing Company (U.S.), Rocktenn (U.S.), BASF SE (Germany), Clearwater Paper Corporation (U.S.).

Market Development

• In May 2019, a new range of water-soluble, eco-friendly paper that can be used for packaging and labelling has been introduced by SmartSolve Industries. The core competencies of materials, research and engineering will be created.
• In January 2019, Storopack Hans Reichenecker Gmbh has released a new PAPERplus product that will increase the company's emphasis on sustainability.

Regional Analysis

Geographically, the countries covered in the market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia and New Zealand, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, United Arab Emirate, Saudi Arabia, Egypt, Israel, South Africa, Rest of Middle East and Africa.

As per Data Bridge Market Research analysis:

Asia-Pacific is the dominant region in biodegradable paper & plastic packaging market during the forecast period 2021 - 2028

In terms of revenue and market share throughout the anticipated period, Asia-Pacific will dominate the market for biodegradable paper and plastic packaging. This is a result of the region's rising need for packaging made of biodegradable paper and plastic. The Asia-Pacific region dominates the market for biodegradable paper and plastic packaging due to rising consumer awareness of the plastics segment and expanding business opportunities in the food and beverage sector.

Europe is estimated to be the fastest-growing region in biodegradable paper & plastic packaging market the forecast period 2021 - 2028

Europe is expected to grow with the highest growth rate in the forecast period of 2021 to 2028 because to the ease of huge consumption brought on by an expansion in urbanization and population in various sectors that employ biodegradable paper & plastic packaging.    

COVID-19 Impact

The COVID-19 pandemic has had a negative influence on the majority of sectors worldwide. Due to many lockdowns and other restrictions that the government enforced globally, this outbreak has severely affected production and supply-chain operations. The market for biodegradable paper and plastic packaging is the same everywhere. Additionally, as consumer demand has declined, non-essential spending have been cut from individual budgets, increasing demand for internet shopping. The global market for biodegradable paper and plastic packaging is expected to grow as the relevant governing bodies begin to lift these imposed lockdowns.

For more detailed information about the biodegradable paper & plastic packaging market, visit: https://www.databridgemarketresearch.com/reports/global-biodegradable-paper-plastic-packaging-market