REPORT OBJECTIVES
The report “Biodegradable Packaging Materials: Global Market Intelligence (2023-2030)” provides market intelligence on the different market segments, based on type, form, application, and geography. Market size and forecast (2023-2030) has been provided in the report. The primary objectives of this report are to provide 1) comprehensive global market intelligence through detailed segmentation, 2) market size and forecasts, growth rates, market dynamics, industry structure and developments, market situation, trends, 3) detailed analysis of current dynamics and trends, key market players, and strategies in the market, 4) detailed value chain analysis and review of growth factors essential for the existing market players and new entrants, 5) provide emerging opportunities in the market and the future impact of major drivers and restraints of the market and, 6) support decision makers in making cost-effective business decisions.
RESEARCH METHODOLOGY
In our market size and forecast determination efforts, an extensive secondary research was initially completed to gain a good perspective of the market in each region. Extensive primary research was also carried out by interviewing the key executives from the industry. These interviews helped us to fill-in the data gaps after secondary research. Several secondary sources such as encyclopedia, directories, and databases have been used to identify and collect information useful for this extensive techno-commercial study. The respondents– selected experts from manufacturers and selected suppliers - have been interviewed to obtain and verify critical information as well as to assess the future prospects. The usage of obtained information is based on the perceived reliability by the research team. In many cases, a combination of several sources was used. Sprout Intelligence provides an in-depth analysis of the market segmentation, which is a critical element of the market intelligence reports at Sprout Intelligence.
KEY AUDIENCE
Executives in marketing, strategic planning and new product development will find such discussions in our reports pertinent and useful. Management consultants, investment bankers, manufacturers, distributors, suppliers, and regulatory authorities are amongst our regular clientele served.
DATA SOURCES
The general data sources used in this report are company websites, trade association publications, regulatory authorities, journals, magazines, news websites, press releases, media publications, interaction with industry experts, company executives, research papers, articles, patents, scientific literature, among many others.
KEY FINDINGS FROM THE REPORT
- The global biodegradable packaging materials market is expected to grow at a CAGR of more than 15% from 2023 to 2030. The global market for biodegradable packaging materials is witnessing growth in recent years. Biodegradable packaging materials are made from natural materials that decompose and are absorbed by the environment, leaving no harmful residue. They are becoming increasingly popular due to their environmentally friendly nature and potential to reduce waste. One of the major drivers of the biodegradable packaging materials market is the growing awareness of environmental issues and the need for sustainable packaging solutions. Governments around the world are implementing regulations and policies to promote the use of biodegradable packaging materials and reduce plastic waste. In addition, consumers are becoming more conscious of the environmental impact of their purchasing decisions and are seeking out eco-friendly packaging options. Another driver of the market is the increasing demand for biodegradable packaging materials from various end-use industries, such as food and beverage, healthcare, and personal care. Biodegradable packaging materials are being used in a variety of applications, including food packaging, disposable cutlery, bags, and bottles. The demand for biodegradable packaging materials in the healthcare industry is also increasing, as they are being used in the packaging of medical devices and pharmaceutical products.
- Europe and USA are the market leaders in biodegradable packaging materials due to increased consumer awareness.
- The key players in this market are Mondi, Genpak, RNS Packaging, Biopack, and International Paper among many others.
- Sprout Intelligence expert team estimated global biodegradable packaging materials marketis expected to cross mark of USD 20 billion.