Biodegradable Packaging Material Market To Witness Heightened Revenue Growth In Next Decade : Fact.MR

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Biodegradable packaging market witnessed moderate growth during 2013 to 2027, and the status quo is envisaged to prevail over the period of forecast 2018 to 2028, according to a new Fact.MR report. Volume sales of biodegradable packaging are foreseen to record a modest 4.2% CAGR through 2028, which is anticipated to equal a market value in excess of US$ 703 billion. The report finds that tier 3 players will collectively continue to account for over three-fifth share of the biodegradable packaging market.

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Global Biodegradable packaging materials Market by Category

  • By Material Type :

    • Paper and Paperboards Biodegradable Packaging Materials
      • Coated Unbleached Kraft Paperboard
      • Bleached Paperboard
      • Molded Fiber Pulp Paperboard
      • Recycled Paper Paperboard
    • Plastic Biodegradable Packaging Materials
      • Poly Lactic Acid (PLA)
      • Polyhydroxybutyrate (PHB)
      • Starch Based Plastic
      • Fossil Based Polymer (PCL, PBAT, PBS etc.)
      • Polyhydroxyalkanoates (PHA)
    • Jute Biodegradable Packaging Materials
    • Wood Biodegradable Packaging Materials
  • By Application :

    • Trays
    • Bags
    • Boxes
    • Clamshells
    • Films
    • Pouches
  • By End-Use Industries :

    • Food & Beverage Industry
    • Cosmetics and Personal Care Products Industry
    • Pharmaceuticals Industry
    • Consumer Goods Industry
  • By Region :

    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia
    • Oceania
    • MEA

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Category-wise Insights

Which material type of Biodegradable Packaging Materials is projected to show maximum growth?

Biodegradable packaging materials are available in several material types such as paper and paperboards, plastic, jute, and wood under which paper and paperboards biodegradable packaging materials is likely to retain the dominant position in the global market. It accounts for nearly 62.3% of the global market share and is likely to contribute to ~85% of total market revenue during assessment years.

Which end-use industry is driving demand for the Biodegradable Packaging Materials Market?

Sales of biodegradable packaging materials are likely to be driven by the food and beverage industry amongst all other end-use industries. The food & Beverage industry accounts for more than 34% of the overall market share. Numerous factors such as enhanced demand for ready-to-eat meals, convenience food, packaged food products are expected to boost market demand by 1.3x.

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Factors Hindering Market Growth

No doubt, the ban on plastics has inclined consumers towards the adoption of biodegradable packaging alternatives but high recycling and manufacturing costs of biodegradable packaging materials are poised to hinder the market growth. Market players in end-use industries are facing huge challenges due to the unavailability of cost-effective biodegradable packaging materials.

For More Insight- https://www.einpresswire.com/article/557143001/worldwide-revenue-share-of-undercarriage-components-for-mini-excavators-is-expected-to-account-nearly-us-6-5-billion

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