Biodegradable plastic packaging market is projected to witness a compound annual growth rate of 12.37% during the forecast period to reach a total market size of US$10.132 billion by 2023, increasing from US$5.033 billion in 2017. Growing environmental concerns coupled with stringent regulatory standards has led plastic manufacturers to develop biodegradable plastic. Rising demand for sustainable packaging solutions across industries such as food and beverage and pharmaceuticals is fuelling the Read more...
Biopolymer packaging market is projected to grow to US$3.161 billion by 2023 from US$2.073 billion in 2018, growing at a CAGR of 8.80% over the forecast period. Biopolymers are biodegradable polymers and are environment–friendly. These plastics are sustainable, non-toxic, and recyclable petrochemical packaging substitutes of synthetic polymers. The demand for biopolymer packaging is majorly driven by growing environmental sustainability issues and the high cost of fossil fuel products. Growing Read more...
The biodegradable paper packaging market was valued at US$215.039 billion in 2017 and is projected to expand at a CAGR of 5.90% over the forecast period to reach US$303.315 billion by 2023. The growing problem of landfills and non-biodegradability or very slow biodegradability of plastic based packaging has led to the increased adoption of biodegradable paper. Moreover, the rising consumer consciousness and government regulations supporting the adoption of biodegradable packaging has supplemente Read more...
Sustainable packaging market is projected to witness a compound annual growth rate of 6.53% to reach a total market size of US$341.72 billion by 2023, from US$233.82 billion in 2017. Government legislation and stringent laws regarding sustainability, increasing consumer awareness towards usage of sustainable and eco-friendly packaging materials and a growing packaging industry are the major factors fueling the growth of the Sustainable Packaging Market. However, the high cost of recycling and fl Read more...
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