Market Size of Europe Biodegradable Plastic Packaging Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 5.70 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Biodegradable Plastic Packaging Market Analysis
The European Biodegradable Plastic Packaging Market is expected to witness a CAGR of 5.7% over the forecast period from 2020 to 2025. Bioplastics represent about 1 % of the about 360 million tonnes of plastic produced annually. But, as demand is rising, and with more sophisticated biopolymers, applications, and products emerging, the market is continuously growing.
- The increase in the use of biodegradable plastics in all market segments is driven by the continuously increasing demand for sustainable products by consumers and brands alike. This can be attributed to a growing awareness of the impact on the environment and the need to reduce the dependency on fossil resources as well as the continuous advancements and innovations of the bioplastics industry in new materials with improved properties and new functionalities.
- The improvement in technology is a major contributor in the development of this industry. For example, today, there is a bioplastic alternative for almost every conventional plastic material and corresponding application.
- In the year 2019, the adoption of the Single-Use Plastics Directive and, at the end of the year, the publication of the new EU Commission's European Green Deal led to a strong dynamic, which will even intensify in 2020.
- This emerging industry to biodegradable plastics has the potential to unfold an immense economic impact over the coming decades according to a job market analysis conducted by EuropaBio in 2016.
- The Covid-19 impacted the market for biodegradable plastic packaging market as the supply chain syatem was disturpted due to a long lockdown period but the market has started recovering and demand is all set to witness drastic increases.
Europe Biodegradable Plastic Packaging Industry Segmentation
The Biodegradable Plastic Packaging Market includes the usage to environment friendly plastic packaging material in the wake of environmental concerns and the demand of this form of packaging in on an upward spring since the last decade. The scope of the study extends to the type of application of biodegradable plastics i.e. Bags, Rigid Packaging, Flexible Packaging, Consumer goods and other types of polymers, the end user industry of bioplastics and the material type of Biodegradable plastics.
Europe Biodegradable Plastic Packaging Market Size Summary
The European Biodegradable Plastic Packaging Market is experiencing significant growth, driven by increasing consumer and brand demand for sustainable products. This demand is fueled by heightened awareness of environmental impacts and the necessity to reduce reliance on fossil fuels. The bioplastics industry is advancing rapidly, with new materials and technologies enhancing the properties and functionalities of biodegradable plastics. The market is further bolstered by regulatory initiatives such as the Single-Use Plastics Directive and the European Green Deal, which have spurred innovation and adoption of biodegradable alternatives across various sectors. Despite challenges posed by the Covid-19 pandemic, which disrupted supply chains, the market is on a recovery path, poised for substantial growth.
Biodegradable plastics, including PLA, PHA, and starch blends, constitute a significant portion of global bioplastics production capacities. These materials are increasingly used in diverse applications, with packaging being the dominant segment. Flexible biodegradable packaging, in particular, is gaining traction in the food and beverage industry due to its adaptability and environmental benefits. The market is moderately fragmented, with key players like Amcor Limited, Mondi PLC, and Tipa-corp Ltd. leading through innovation and strategic partnerships. Recent collaborations and technological advancements, such as the development of recyclable flexible retort pouches, highlight the industry's commitment to sustainability and market leadership.
Europe Biodegradable Plastic Packaging Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.1.1 Growing demand for Sustainable Products
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1.1.2 Stringent government Regulations
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1.2 Market Challenges
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1.2.1 High Cost of Production
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Europe Biodegradable Plastic Packaging Market Size FAQs
What is the current Europe Biodegradable Plastic Packaging Market size?
The Europe Biodegradable Plastic Packaging Market is projected to register a CAGR of 5.70% during the forecast period (2024-2029)
Who are the key players in Europe Biodegradable Plastic Packaging Market?
Tetra Pak International SA, Amcor Limited, Mondi PLC, Minima Technology and Tipa-corp Ltd. are the major companies operating in the Europe Biodegradable Plastic Packaging Market.
