Volume Sales Of Fossil based Polymer Packaging Is Foreseen To Record A Modest 4.2% CAGR Through 2028

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 Eco Friendly Packaging Material Market 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 Eco Friendly Packaging Material Market market.

According to a recent market study published by Fact.MR, the Eco Friendly Packaging Material Market material market is expected to envisage healthy value CAGR of 4.2% during the period 2018-2028, with revenues surpassing US$ 703 billion by the end of 2028. The report also opines that the paper & paperboard Eco Friendly Packaging Material Market will retain its undisputed dominance in the Eco Friendly Packaging Material Market market, as it may account for more than 95% of the total market revenue by the end of the assessment period. The global war against plastic packaging materials is opening an attractive window of opportunities for paper packaging companies, enticing them into entering the Eco Friendly Packaging Material Market market.

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A majority of regulatory bodies and international environmental organizations have proposed a ban on single-use packaging materials to mitigate the perilous effects of non-degradable solid waste on the environment. Increasing environmental awareness and consumer inclination towards making sustainable purchases is providing a major boost to the growth of the

Positive effects of the ban on single-use packaging on the Fossil based Polymer Packaging Material Market market are offset by stringent labeling regulations and certification procedures to control false claims about the biodegradability of packaging materials. The Eco Friendly Packaging Material Market market is characterized by the needs to comply with strict quality standards established in various regional markets, which may complicate it for market players to maintain competitive prices of Eco Friendly Packaging Material Market solutions.

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Meanwhile, the Fact.MR report finds that leading players in the Starch Based Plastics Material Market market are adopting strategies to acquire their smaller rivals to consolidate a stronger position in the packaging sector. DS Smith plc – a British paper packaging company – recently announced its plans to acquire its Spanish rival Europac Group for over US$ 2 billion, in order to consolidate the Western European Eco Friendly Packaging Material Market market. Another leading player in the Eco Friendly Packaging Material Market market – Smurfit Kappa Group recently completed the acquisition of Reparenco – a paper and recycling company in Netherlands – for €460 million to expand its European Eco Friendly Packaging Material Market capacities.

Segmentation

To provide detailed information about the eco friendly packaging material market, the Fact.MR report divides the market into four segments, such as material types, applications types, end-use industries, and regions.

Based on the types of Fossil based Polymer Packaging Market materials, the market is segmented into paper & paperboard, and plastic.

Paper & paperboards are further divided into four types, i.e., coated unbleached kraft paperboard, bleached paperboard, molded fiber pulp, and recycled paper, and plastic is further divided into poly lactic acid (PLA), polyhydroxybutyrate (PHB), starch based plastics, fossil based polymer (PCL, PBAT, PBS etc.), and polyhydroxyalkanoates (PHA).

Other types of Eco Friendly Packaging Material Market materials that are featured in this report are jute and wood.

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The European Union and the Fossil based Polymer Packaging Industries Consortium have established a €3.7 billion partnership, which is known as Fossil based Polymer Packaging industries Joint Undertaking (BBI JU) to boost adoption of Eco Friendly Packaging Material Market as a part of its Horizon 2020 project. The BBI JU recently offered around € 5.6 million to fund The FRESH project by Huhtamaki Group in the Netherlands for testing and developing ready-meal Eco Friendly Packaging Material Market trays.

Sensing the extraordinary growth opportunities in the Eco Friendly Packaging Material Market market for the F&B industry, another market player – the Mondi Group recently developed an innovative, paper-based, Eco Friendly Packaging Material Market bag for food – Sustainex®, in collaboration with a Polish converter, SILBO. Multifold opportunities for Starch Based Plastics Material Market in the F&B industry are boosting market players to develop innovative technologies, Starch Based Plastics Material Market materials, and designs, which is expected to influence the dynamics of the Eco Friendly Packaging Material Market market in the upcoming years.

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