Growing trend of go-green around the globe is uplifting the growth of biodegradable packaging market

 

Biodegradable packaging offers consumers a lot of advantages, especially when it comes to cost-effectiveness. Non-biodegradable or paper-based packaging has become less common as eco-friendly alternatives have risen in popularity, especially as more products are being manufactured using ingredients from nature. The greatest advantage of this type of packaging is that they are a very low-cost solution to the disposal of household and office goods. Paperboard is often used in these types of packages, which can be composted

Growing demand for eco-friendly packaging solution is a prime factor driving the growth of the biodegradable packaging market. Shifting focus towards recyclability and sustainability coupled with the increasing government initiatives for promoting the use of efficient packaging are other major factors driving the growth of the market. Moreover, increasing ban on plastic usage across various countries in order to reduce ocean pollution is also projected to foster the growth of the biodegradable packaging market. The European Parliament has voted to ban single-use plastic to reduce the use of plastic food containers and plastic lids for hot drinks. By 2025, plastic bottles should be made of 25% recycled content, and by 2029 90% of them should be recycled.

North America is projected to gain significant growth over the forecast period and this is attributed to the increasing launch of the innovative eco-friendly packaging solution. For instance, in October 2020, Softbox, a global innovator, and provider of temperature control packaging solutions for the pharmaceutical, life science, and cold chain logistics industries, recently launched its newest innovation --- Tempcell™ ECO -- in the U.S.

Key Developments:

1.      In January 2021, KM Packaging has launched a new range of compostable products. The C-Range of bio-plastic packaging materials includes shrink wrap, stretch wrap, adhesive tape, nets, and bags.

2.      In July 2019, Nestlé launched new biodegradable snack packaging in an efforts to make all packaging recyclable and reusable by 2025

3.      In January 2021, SpruceGel has launched compostable bags to provide sustainable packaging solutions that would biodegrade within six months since the cloth bags sold in the market have polypropylene which is harmful to the environment

4.      In January 2020, Lavazza Professional has launched a new recyclable and biodegradable product, KLIX Eco Cup – produced by using paper sourced from sustainably managed forests.

5.      In August 2020, Quadpack has launched a new biodegradable, industrially compostable, and microplastics-free range of jars for skin care and other cosmetic products