Biodegradable Paper & Plastic Packaging Market Size, Share, Growth, Trends, and Global Industry Analysis: By Type (Starch Based plastic, Cellulose Based Plastics, Polylactic Acid (PLA), Polyhydroxyalkanoates (PHA)), By Material (Plastic, Paper), By End-User (Food and Beverage, Catering Service wares, Personal and Home Care, Healthcare, and Others) and Region

Biodegradable Paper Plastic Packaging Market size was valued at US$ 10,372 million in 2023 and is projected to reach US$ 18,598.0 million by 2030 at a CAGR of 8.7% during 2024-2030. The market is driven by several key factors which are growing environmental concerns, government regulations, and rising demand for organic and natural products. Consumers are becoming increasingly aware of the environmental impact of traditional plastic packaging, which is driving the demand for more sustainable alternatives. Biodegradable packaging offers a solution to this problem, as it can decompose naturally without harming the environment. Biodegradable packaging is typically more expensive than traditional plastic packaging. This is because the materials used to make biodegradable packaging are often more expensive to produce. There is a lack of awareness among consumers about biodegradable packaging. This can make it difficult for businesses to justify the higher cost of biodegradable packaging to consumers.

Composting facilities are not yet available in all parts of the world. This can limit the use of biodegradable packaging, as it cannot be composted in landfills. Technological advancements, increasing investment, and growth of e-commerce are the opportunity in the biodegradable paper & plastic packaging market.  Use of bio-based materials, development of home compostable packaging, and increase in demand for compostable certifications are the trends in the biodegradable paper & plastic packaging market.  The biodegradable paper and plastic packaging market is expected to grow significantly in the coming years. This growth is being driven by a number of factors, including growing environmental concerns, government regulations, and rising demand for organic and natural products. However, there are also a number of constraints that need to be addressed, such as the higher cost of biodegradable packaging and the lack of awareness among consumers.

Biodegradable Paper & Plastic Packaging Market Key Developments:

• In November 2023, Biopax, a sustainable packaging firm in West Belfast, announced the installation of a modern paper wrap machine, boosting domestic paper wrap production by 500 million units annually.
• In May 2022 - Kruger Specialty Papers Holding L.P., an affiliate of Kruger, has entered into a definitive share purchase agreement. As per this agreement, one of its wholly-owned subsidiaries will acquire all the issued and outstanding shares in the capital of DKP Pulp ULC. DKP Pulp ULC is a legal entity wholly-owned by Domtar Inc. and, at the time of closing, will own and operate the Kamloops Mill located in Kamloops, British Columbia.