HYDERABAD, TELANGANA, INDIA, March 12, 2022 /EINPresswire.com/ — Biodegradable Paper and Plastic Packaging Market Forecasts to 2028 – Global Analysis By Packaging Type (Plastic, Paper), Application (Food Packaging, Catering Servicewares, Personal and Home Care Packaging), and By Geography
The Global Biodegradable Paper and Plastic Packaging Market is accounted for $9.43 billion in 2021 and is expected to reach $26.66 billion by 2028 growing at a CAGR of 16.0% during the forecast period. Biodegradable packaging is characterized as a means of ensuring that goods are 100% safe against natural degradation. Consumers are changing their choice from synthetic plastic to biodegradable paper & plastic packaging because it is a very eco-friendly product with a low environmental impact. In different sectors, including packaging, food and beverages and the healthcare sector, biodegradable packaging has various applications. The food packaging segment is estimated to have a lucrative growth due to the significant increase in consumer demand. Europe is projected to hold the largest market share during the forecast period due to the rising government initiatives that are promoting the use of bioplastic packaging. Asia Pacific is projected to have the highest CAGR over the forecast period owing to the rise in population and urbanization.
Some of the key players profiled in the Biodegradable Paper and Plastic Packaging Market include Amcor Plc, BagInCo International, BASF SE, Bio-Eco, DS Smith, Georgia-Pacific LLC, Holmen AB, International Paper Co., Kruger Inc., Mondi Group, Plascon Group, PMMI Media Group, Reynolds Group, Smurfit Kappa Group Plc, Stora Enso Oyj, and WestRock.
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