Increasing consumer awareness towards eco-friendly products is expected to be key factor driving biodegradable paper and plastics packaging market over the next seven years. Shifting consumer preference from synthetic products to cleaner and eco-friendly substitutes is anticipated to stimulate biodegradable paper and plastics market growth over the forecast period. Sufficient availability of raw materials is another factor presumed to augment biodegradable paper and plastics packaging demand in near future. Rising consumer awareness towards biodegradable paper and plastics packaging products particularly in emerging economies including China, India, Malaysia and Thailand is anticipated to fuel the market growth over the forecast period. Increasing biodegradable material demand from conventional end-user industries such as textiles and consumer product packaging industries is presumed to stimulate the biodegradable paper and plastics packaging demand over the forecast period.
Food & beverage industry was the largest bio degradable paper and plastics packaging consumer market in 2014 owing to significant increase in consumer demand. Competition amongst industry participants for product differentiation is expected to augment biodegradable paper and plastics packaging market growth in the application segment. Stringent norms and regulations particularly in Europe is expected to augment biodegradable paper and plastics packaging demand over the next seven years. Lack of sufficient technology and cost-effectiveness are major challenges expected to hinder market growth over the foreseeable future. Changing consumer mindset associated with higher costs than conventional products is expected to be major challenge faced by industry participants.
Primary biodegradable material such as PLA and PHA are expected to dominate biodegradable plastics packaging market over the forecast period owing to their superior properties such as enhanced impact resistance and tensile strength. Increasing biodegradable plastics demand as major packaging materials in industries such as food & beverages, textiles, consumer goods and pharmaceuticals is presumed to augment market growth over next seven years. Corrugated board and box-board are expected to be the largest biodegradable paper packaging product segments in next seven years. Biodegradable plastics demand is predicted to increase in emerging BRICS economies over the foreseeable future owing to increasing food & beverage and electronic packaging industries in these countries. Changing lifestyle pattern coupled with increasing packaged food products demand is expected to drive food beverages industry. This in turn is anticipated to increase biodegradable paper and plastics packaging demand in Asia Pacific region in near future. Growing pharmaceuticals packaging industry in Asia Pacific region is anticipated to propel market growth. Technological advancement in distribution channels coupled with advanced manufacturing processes is expected to augment biodegradable paper and plastics market growth in the region.
Europe emerged as largest regional market for biodegradable paper and plastics packaging industry over the last few years. Countries such as Sweden, Germany and UK emerged as leading consumer markets and are expected to witness stagnant growth over the forecast period. North America is anticipated to witness average growth in biodegradable paper and plastics market over the next few years. U.S. is anticipated to be the largest biodegradable paper and plastics packaging market for followed by Canada and Mexico. Brazil is expected to be largest market in Latin America owing to economic development and increasing disposable income among general consumers.
Key players operating in global biodegradable paper and plastics packaging market include BASF, Smurfit Kappa Group, Stora Enso, Rocktenn and Mondi Group. Increasing R&D along with innovation in manufacturing process by key industry participants is expected to provide immense opportunities and further augment market presence. Innovative advertisement and marketing strategies are expected to increase biodegradable paper and plastics packaging market growth over the next seven years. Social media platforms are expected to be used on a large scale to increase customer base and market share. Companies are expected to use biodegradable packaging as part of their marketing strategy to portray their concern for environment. Marketing products with versatile properties such as low weight, easy handling, weather protection and numerous design options is anticipated to be major strategy adopted by key players over the forecast period.
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