Biodegradable Packaging Market: North America to Represent a Leading Market

Biodegradable Packaging Market

Increasing demand for eco-friendly packaging in the food and beverages industry has led to an upsurge in demand for biodegradable packages. Imposition of government regulations regarding eco-friendly packages is expected to impact growth of the global market positively. According to Future Market Insights, the global biodegradable packaging market is expected to register a healthy growth over the forecast period, 2014-2020.

Market Dynamics: Growth of the global biodegradable packaging market is expected to be bound to several macro-economic and micro-economic factors. Growing need for protective packages in the food and beverages industry that are degradable easily and naturally has led to an upsurge in demand for biodegradable packages in the global market. As compared to the conventional packages offered, the biodegradable packages degrade quickly and conveniently. The biodegradable packages comprise a small part of the packaging industry and is moving towards efficient and enhanced packaging techniques. Attributed to these factors, demand for biodegradable packages continue to increase in the global market. Growing awareness among the customers regarding biodegradable and eco-friendly packaging is expected to contribute towards growth of the global biodegradable packaging market during the forecast period.

On the other hand, limited support of the government in various developed countries is expected to inhibit growth of the global biodegradable packaging market. Moreover, expensive prices of the biodegradable packages as compared to the conventional packages is further expected to hinder growth of the global market during the forecast period.

Segmentation Analysis

The global biodegradable packaging market is expected to be segmented in terms of distribution channel, region and product type. North America and Europe among other regions is expected to remain dominant in the global market. The biodegradable packaging market in North America is expected to represent a major consumer during the forecast period. Attributed to increasing presence of mature markets that attract customers that are significantly environment friendly, the developed regions in the global market will continue to remain dominant during the forecast period. Surge in the population that prefers spending high for the enhanced services further fuels demand for the biodegradable packages in the global market. Further, increasing presence of a relatively large population in the APAC market is predicted to contribute towards growth of the global biodegradable packaging market. Increase in the initiatives taken by the government and surge in the contract manufacturing process is expected to encourage the biodegradable products by providing various incentives in countries such as India and China. Bound to these factors, the global market is expected to rev up during the forecast period.

Market players: Leading players operating in the global biodegradable packaging market include Natureworks LLC, International Paper, BASF SE, Biopac, Smurfit Kappa Group, Stora Enso, Clearwater Paper Corporation, Rocktenn, Novamont S.P.A and Georgia-Pacific LLC. Major market players are mainly focusing towards manufacturing eco-friendly and biodegradable packaging materials from several natural resources that are conveniently available. Significant investment in the research and development for manufacturing innovative packages is expected to give the market players a competitive edge in the global market. The global biodegradable packaging market is expected to witness significant growth during the forecast period.

A sample of this report is available upon request @ https://www.futuremarketinsights.com/reports/sample/rep-gb-323

About Shambhu Nath Jha 17 Articles
Shambhu Nath Jha with an experience nearing a decade, has helped over 50 large and medium to small business enterprise to foray into new markets, increase footprint in the existing bucket and understand the nature of the beast. These beasts are the companies that have been primarily engaged in chemicals, material or packaging activities, and encountering challenge either in maintain P&L or staying ahead of their competitors. He has authored over 300 industry research papers consisting critical information such as market growth, total addressable market, serviceable addressable market, market size, forecast, player strategies, market share estimates and winning imperatives along with recommendations. He is also the pioneer of “three slope distributor/off-taker evaluation model” used by several multinational companies to track the performance of channel partners. A consultant by profession, writer by mood and explorer by desire, Shambhu Nath is currently employed with a London based market research and consulting firm as a full time consultant. A few of the industry verticals where he demonstrated his skill includes water and wastewater treatment chemicals, high purity alumina, water purifiers, activated carbon, chloramine filters, bio-based bioplastics, water purifiers, textile chemicals etc.