DUBLIN--(BUSINESS WIRE)--The "Global Bio-Degradable Packaging Market - Segmented by Material Type (Plastics, and Paper), Application and Region - Growth, Trends and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
The global biodegradable packaging market was valued at USD 6.61 billion in 2017, and is expected to reach a value of USD 15.24 billion by 2023 at a CAGR of 14.55%, over the forecast period 2018-2023.
Biodegradable packaging products are increasingly finding adoption in a wide variety of industries, owing to their low environmental impact and growing demand for sustainable solutions. As majority of the materials used in this packaging are natural, which enables native degradation without the need for an external catalyst, these solutions find high application in food & beverage industry.
Many industries and governments have taken initiatives to reduce wastage and utilize proper solutions to counter the environmental impact. Companies, such as Unilever and P&G, have pledged to move to natural packaging solutions and reduce ecological footprint by 50%. This is one of the factors driving the usage of biodegradable packaging across industries.
The growing number of innovations like active and intelligent packaging solutions in the industry are expanding the product availability to the end-users. Thus, companies are finding it more accessible to deploy these solutions, thereby increasing the adoption rate.
Key Developments in the Market
- September 2017 - International Paper announced plans to invest around USD 300 million to convert its number 15 paper machine at the Riverdale Mill in Selma, Alabama, from uncoated freesheet to high-quality whitetop linerboard and containerboard. This conversion is targeted to be completed by the mid-year of 2019. The investment is expected to add 450,000 tons of annual capacity, with the flexibility to shift between containerboard products.
- April 2017 - International Paper's Pensacola Mill in Cantonment, Florid, has successfully resumed full operations, following a digester incident that occurred on January 22, 2017. The company, with the assistance of independent third-party experts, has implemented enhanced procedures and protections across the enterprise, to prevent the recurrence of such an incident.
Key Topics Covered
2. Research Approach and Methodology
3. Executive Summary
4. Market Insights
5. Market Dynamics
6. Global Bio-Degradable Packaging Market Segmentation
7. Competitive Intelligence - Company Profiles
- Berkley International Packaging
- Earthfirst Brand Films
- Imex Packaging
- International Paper
- Kruger Inc.
- Mcnichols Co.
- Mondi Group
- Ranpak Corp
- Smurfit Kappa Group
- Tetra Pak
8. Investment Analysis
9. Future Outlook of Bio-Degradable Packaging Market
For more information about this report visit https://www.researchandmarkets.com/research/b6qrfv/global?w=4