Degradable Materials Market is
anticipated to grow significantly in the forecast period due to increase in
demand from end users for sustainable packaging materials. Degradable materials
comprise biological or chemical waste, including heavy metals. They are
degraded either through natural degradation process (takes hundred years) or
broken down purposely. Some materials are added with the chemicals that help
the break down at a faster rate under specific condition.
The growth of degradable material market is influenced by
government initiatives for degradable packaging materials, rise in spending
power of consumers, and government initiatives for the promotion of degradable
materials. Old plastics do not degrade early, which results in landfilling.
Hence, retailers are increasingly encouraging consumers to purchase bio-based
packaging materials. Growing consumer awareness for the use of sustainable
packaging materials is impacting the market growth.
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Moreover, increasing government initiatives from European
Union for the use of green packaging and producing eco-friendly solutions is
also driving the degradable material market. Furthermore, regulatory bodies are
continuously focusing on the use of eco-friendly packaging materials.
Increasing threats caused by the piling of plastic wastes and increase in
health hazards by plastic dumping strengthens the enforcement of strict
regulations. .
Increase in demand for degradable materials from various end
use industries and cost-effective biodegradable plastic packaging is trending
in the market. This can be attributed to the eco-friendly approach by the population
and high demand for sustainable solutions.
Degradable materials market is categorized on the basis of
packaging type, application, and geography. On the basis of packaging type,
market is divided into reusable packaging, recycled content packaging, and
degradable packaging. Reusable packaging is further divided into plastic,
paper, glass, metal, and others. Recycles content packaging is further
classified into plastic container, drum, and others. Recycled content packaging
accounts for the significant share of the market owing to high demand from the
food and beverages industry and rise in number of restaurants, cafes, etc.
In terms of application, degradable materials market is
bifurcated into electronics packaging, food packaging, personal care packaging,
pharmaceutical packaging, and others. Food packaging segment is expected to
lead the market in the coming years due to wide applications of green packaging
in the food and beverage industry. Pharmaceutical segment is also predicted to
contribute significantly since the packaging solutions are increasingly used as
carrier for all types of medical products. Additionally, growing investments in
the segment is also driving the market.
Geographically, degradable materials market is segmented as
North America, South America, Europe, Asia Pacific, and Middle East &
Africa. Asia Pacific and Europe are expected to dominate the market in the
forthcoming years due to increase in applications in several end use
industries, high demand from the increasing consumer base and growing focus on
implementing eco-friendly solutions. Furthermore, North America is expected to
lead the market due to rising prominence of food service sector.
The key players profiled in degradable materials market
report include Mondi, BASF, International Paper Company, Green Day, Smurfit
Kappa, Stora Enso, Bofa, Jai Corp, Amkay Products, Adsum Solutions, Bakeys
Foods, Fidelio, Green Industries, Georgia-Pacific, Biopac, Hood Packaging,
Holmen, Kruger, NatureWorks, MeadWestvaco, Mayr-Melnhof Karton, Novamont,
Rocktenn, Oji Paper Company, and Achyut Polymers.
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Market Segment:
Leading players of
Degradable Materials including:
•
BASF
•
International Paper Company
•
Mondi
•
Smurfit Kappa
•
Stora Enso
•
Green Day
•
Jai Corp
•
Amkay Products
•
Bakeys Foods
•
Green Industries
•
Fidelio
•
Achyut Polymers
•
Bofa
•
Adsum Solutions
Market split by Type,
can be divided into:
•
Photodegradable Materials
•
Biodegradable Materials
•
Environmentally Degradable Materials
Market split by
Application, can be divided into:
•
Food Packaging
•
Pharmaceutical Packaging
•
Electronics Packaging
•
Other
Market split by Sales
Channel, can be divided into:
•
Direct Channel
•
Distribution Channel
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