Press release
Demand for Europe Biodegradable Packaging Market is anticipated to surpass US$ 5.5 Billion by 2032
Europe Biodegradable Packaging Market
The growth of the Europe biodegradable packaging market is attributed to the increasing adoption of biodegradable packaging across various end-use industries such as food & beverage, consumer goods, pharmaceuticals, and commercial sectors. The trend towards utilizing biodegradable packaging, particularly as bags and boxes, is propelling market expansion during the assessment period.
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The surge in demand for biodegradable packaging materials in the European market, witnessing a 1.3x upsurge, is primarily driven by factors including the growing aversion against packaging materials harmful to the environment, such as plastics and other non-biodegradable components. Additionally, there is an augmented demand for sustainable packaging solutions in multiple industries, including food & beverages and pharmaceuticals.
An enhanced focus on sustainability, reduced environmental impact, heightened consumer awareness, and government initiatives such as bans on plastic usage, alongside an emphasis on efficient packaging solutions, are expected to catalyze market growth by 1.7x during the forecast period from 2022 to 2032.
Manufacturers in the biodegradable packaging materials market are adopting marketing strategies that emphasize environmental friendliness, aiming to secure a larger market share. Notably, a startup based in the UAE is converting palm fibres into compostable food packaging materials, leveraging the abundant local palm leaf resource.
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Key players in the Europe biodegradable packaging market include Amcor Plc., Smurfit Kappa, Sealed Air, International Paper, Mondi Group PLC, WestRock Company, Tetra Pak International S.A., DS Smith, Kruger Inc., and Toray Plastics Inc.
Regional Analysis:
Germany holds the highest market share in the Europe biodegradable packaging market, accounting for nearly 35% of the overall market share. The demand for biodegradable packaging in Germany is projected to surge at a CAGR of 6.4% during the forecast years, driven by various factors.
In March 2019, Germany's Bundesrat passed new packaging regulations aimed at enhancing recycling of packaging waste, incentivizing the usage of recycled materials in packaging. Additionally, companies like Delivery Hero have invested in biodegradable packaging manufacturers, reflecting the growing interest in sustainable packaging solutions.
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Competitive Landscape:
Key players in the European biodegradable packaging market are leveraging advanced manufacturing technologies and engaging in collaborative activities with other market players, particularly in emerging economies. Significant investments in research and development are directed towards enhancing sustainability and reducing carbon emissions.
Recent Developments:
In April 2021, Smurfit Kappa, launched a new range of e-bottle packaging solutions for the growing online beverage market. This range is more sustainable made from recyclable raw material and is customizable according to bottle shapes and sizes. The company also offers a range of automated solutions that helps in the optimization of packaging processes.
In May 2021, Amcor Limited announced that its team has created more sustainable packaging solutions for butter and margarine, which is made entirely from paper. The paper wrapper is 38% lighter than aluminium and paper packaging and reduces carbon footprint by 81%, thus, helping consumers meet sustainability goals.
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