Biodegradable Loose Fill Packaging Market Size, Share, Growth, And Industry Analysis, By Type (Starch, Recycled Paper, Others), By Application (Consumer Goods, Cosmetics & Personal Care, Pharmaceutical, Others), Regional Insights, and Forecast To 2031

Updated On: 22 April 2024

Biodegradable Loose Fill Packaging Market Report Overview

• 

• Request a Free Sample to learn more about this report

The global biodegradable loose fill packaging market size was 213.4 million in 2022 and is projected to touch USD 405.7 million by 2031, at CAGR of 7.4% during the forecast period. 

The COVID-19 pandemic has been unprecedented and staggering, with the biodegradable loose fill packaging market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

Biodegradable materials that can disintegrate in the environment are used to make biodegradable loose-fill packaging. It is frequently employed to cushion and safeguard goods during shipping. The benefit of using biodegradable loose-fill packaging is that it removes the requirement for landfill space and contributes to the reduction of environmental pollution.

The market's expansion can be ascribed to the rise in interest in sustainable and eco-friendly packaging options. The market is expanding in part due to increased consumer knowledge of the advantages of adopting biodegradable loose-fill packaging. Government restrictions on the use of plastic, increased consumer awareness of sustainability, and rising demand for lightweight and compact packaging solutions are some of the key factors predicted to propel the growth of this market.

COVID-19 Impact: COVID-19 pandemic has significantly slowed the market's growth

The COVID-19 pandemic has significantly slowed the market's growth for bioplastic packaging. Prior to the pandemic, the developing market was significantly hit by the supply chain collapse, increase in raw material prices, and statewide lockdown. Furthermore, initiatives aiming at creating bioplastics for single-use packaged meals are required due to the COVID-19 pandemic's influence on consumer behavior. Due to its high production viability, performance that rivals thermoplastics made from petroleum, and carbon-neutral life cycle, polylactide (PLA) is expected to experience significant growth over the research period.

Latest Trends

"Growing customer preference for eco-friendly packaging materials is fueling market expansion"

The need for recyclable and ecologically friendly alternatives has led to a rapid expansion of the market for biodegradable packaging materials. When exposed to microbial action, the market solutions have the property of deteriorating or transforming into natural materials. These biodegradable polymers are also either fossil- or bio-based, often generated from natural resources, and made utilizing eco-friendly production processes.

Biodegradable Loose Fill Packaging Market Segmentation

• 

• Request a Free Sample to learn more about this report

• By Type Analysis

According to type, the market can be segmented into starch, recycled paper, others. Starch is anticipated to be the leading segment.

• By Application Analysis

Based on application, the market can be divided into consumer goods, cosmetics & personal care, pharmaceutical, others. Consumer goods will be the dominating segment.

Driving Factors

"Rising consumer awareness of health and hygiene will aid market expansion"

Growing worries about long-term issues brought on by excessive plastic usage have a substantial impact on the growth of the worldwide biodegradable packaging market's revenue. A practical substitute that can aid in minimizing pollution brought on by plastics is biodegradable packaging. Although there aren't many options for biodegradable packaging at the moment, the vast majority of them are safe for those with allergies and toxicology. The use of biodegradable packaging can reduce the amount of water used, solid waste generated, electricity used, and greenhouse gas emissions. It goes without saying that this is good for the environment, but it also lowers the price of packaging. Over the projection term, significant growth is anticipated. Demand for biodegradable products is anticipated to be driven by rising disposable income levels and rising consumer awareness of health and hygiene, which will boost industry expansion. Due to manufacturers' increased desire for eco-friendly packaging options, the cosmetics and personal care industry is one of the application categories with the quickest growth. Additionally, consumer tastes for natural skincare products are changing as a result of worries about the harm that synthetic chemicals do to the skin. Over the next eight years, it is also projected that the growing usage of plant-based components in cosmetics and personal care products will boost industry growth.

"Sector's rising demand for automotive and electronics products"

Within the projection period of 2022–2031, demand in the automotive and electronics sectors is anticipated to experience substantial rise. The COVID-19 Pandemic in 2020 had not stopped the rise of the electronics sector. The global electronics and IT industry is expected to produce $2,972.7 billion in value in 2020, up 2% from the previous year, according to the Japan Electronics and Information Technology Industries Association (JEITA). The Organisation Internationale des Constructeurs d'Automobiles (OICA) estimates that in 2021, the world produced 57.3 million automobiles, a rise of 5.4% over the previous year. The demand for protective packaging is also being fueled by the expanding automotive and electrical industries. As a result, throughout the forecast period of 2022–2027, this shows to be a significant driver for the Loose Fill Packaging & Protective Packaging Market.

Restraining Factors

"Rigid Loose Fill Packaging Regulations Because of environmental worries"

Expanded polystyrene foams, one of the main downsides of loose-fill packing materials, are hazardous to the environment because they are not biodegradable. As a result, different countries have implemented rules, some of which attempt to completely outlaw the production and use of loose-fill materials. For instance, to reduce waste and produce long-term environmental advantages, the Department of Environmental Conservation (DEC) of the New York State, United States, implemented a ban on expanded polystyrene foam containers and loose-fill packing on January 1, 2022. During the forecast period of 2022–2027, these rules may pose a barrier to the expansion of the Loose Fill Packaging & Protective Packaging Market.

Biodegradable Loose Fill Packaging Market Regional Insights

• 

• Request a Free Sample to learn more about this report

"Asia Pacific is expected to dominate the market during forecast period"

Asia Pacific is predicted to keep up its dominance and hold the top rank in the global market for green packaging throughout the forecast period. Convenient foods and beverages are being consumed more frequently as a result of the growing population density. In addition, the green packaging manufacturers in China, India, Japan, and South Korea are expected to put more of an emphasis on ecologically friendly packaging alternatives in response to growing consumer environmental concerns, which will lead to a growth in the regional market. South-East Asia has an abundance of the raw materials needed to make cartons, bags, boxes, and other packaging equipment. This is also expected to have favourable market impacts.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Nefab Group (Sweden)
• Green Light Packaging (U.K.)
• Alsamex Products (U.K.)
• Sealed Air Corporation (U.S.)
• Storopack (Germany)
• Foam Fabricators (U.S.)
• Menai Foam & Board (U.K.)
• ACH Foam Technologies (U.S.)
• Ferrari Packaging (U.K.)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.