Botanical packaging solutions are biodegradable products made from plant-based materials such as paper, bagasse (sugarcane pulp), wheat straw, or bamboo and are suitable for food, beverages and pharmaceutical applications. These packaging solutions are eco-friendly and help reduce plastic waste generated from single-use plastics.
The global botanical packaging market is estimated to be valued at US$ 120.0 Mn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Botanical packaging offers a biodegradable and sustainable alternative to plastic packaging and decomposes back into nature within a short span helping reduce plastic pollution. The advantages of botanical packaging such as recyclability and sustainability are driving its increased adoption across end-use industries. Various initiatives by governments worldwide to ban single-use plastics and promote use of biodegradable materials for packaging are further supplementing the growth of botanical packaging market.
Segment Analysis
The Global Botanical Packaging Market Size comprises divisions such as material type and application. Based on material type, the paper & paperboard segment holds the largest market share owing to properties like sustainability. Paper exhibits high recyclability and is dominant in packaging applications for food and beverages.
Key Takeaways
The global botanical packaging market is expected to witness high growth over the forecast period. Regional analysis shows that Asia Pacific accounts for the largest share currently due to rising middle-class population and growing consumption of packaged foods and beverages in countries like India and China. The region is anticipated to remain the fastest growing as well with increasing environmental awareness.
Regional analysis
Asia Pacific holds the largest share in the global botanical packaging market currently. The region is anticipated to remain the fastest growing as well owing to rising middle-class population and increasing consumption of packaged products in large economies like India and China. Moreover, growing environmental awareness is prompting manufacturers in the region to shift towards sustainable packaging options like paper-based materials.
Key players
Key players operating in the botanical packaging market are Amcor Limited, Ball Corporation, Smurfit Kappa Group, Ardagh Group, Gerresheimer AG, DS Smith Plc, Constantia Flexibles Group, WestRock Company, Uflex Ltd., Mondi Group, Bemis Company, Inc., Tetra Pak International S.A., SIG Combibloc Group AG, Huhtamäki Oyj, Crown Holdings, Inc.
Amcor Limited and Ball Corporation capture significant market share owing to their product innovation and global presence.
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