Biodegradable Packaging Market Size, Share, Outlook, and Opportunity Analysis, 2022 - 2028

 

Biodegradable Packaging Market
Biodegradable Packaging Market

The term "biodegradable packaging" refers to a type of packaging that will naturally decompose and disintegrate in a reasonable amount of time under any circumstance. Microorganisms like bacteria, fungi, and algae can break down the materials used in biodegradable packaging. Cardboard or paper and bio-based polymers are the two most commonly used biodegradable packaging materials. This kind of packaging can be made from a variety of plant-based materials, including cornstarch, mushrooms, seaweed, and seaweed extract. Due to its eco-friendly features, it produces no environmental pollution and is now widely used.

The Asia Pacific region's Biodegradable Packaging market is anticipated to significantly expand over the course of the forecast period as a result of rising awareness regarding the need for environmentally friendly packaging for food delivery orders. For instance, more than 88% of Chinese customers who order food online in 2020 said they would be willing to pay more for packaging that is more environmentally friendly. Additionally, it is anticipated that growing urbanisation, hectic lifestyles, rising consumption of ready-to-eat meals, and high disposable income will all increase demand for biodegradable packaging in the coming years.

Biodegradable materials are frequently used in packaging for commercial products in the food and beverage, pharmaceutical, home care, and other industries. Due to their ease of recycling and complete compostability, recyclable PET plastic bottles are used by many large corporations, including Pepsi and Coca-Cola. Many other companies use biodegradable packaging made of a hybrid of paper and plastic, like Real and Tropicana. Pharmaceutical companies are using eco-friendly packaging materials to package a variety of medication dosages because they are completely safe and non-toxic in nature. The growing demand for food and beverage products is driving growth in the global market for biodegradable packaging.

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