The South Korea biodegradable packaging market comprises biodegradable plastic, paper, and non-plastic materials that can be decomposed naturally without harming the environment. Biodegradable plastics such as polylactic acid (PLA), polyhydroxyalkanoates (PHA), biopolyethylene (PE), and others are used widely to manufacture bags, films, straws, disposables, and clamshell containers. Advantages such as reduced carbon footprint, sustainability, and recyclability are driving its adoption over conventional plastics. The need for eco-friendly products is growing due to strict regulations on single-use plastics and surge in environmental awareness in South Korea.
The South Korea Biodegradable Packaging Market is estimated to be valued at US$ 581.0 Mn in 2024 and is expected to exhibit a CAGR of 6.5% over the forecast period 2024-2031.
Key Takeaways
Key players operating in the South Korea biodegradable packaging are Amcor, Mondi Plc, Smurfit Kappa, serimbng co.,ltd., ANKOR Bioplastics and Among Others. Amcor manufactures biodegradable films and barrier coatings under Amcor Bioplastics, while Mondi Plc offers biodegradable flexible and paper packaging solutions.
The growing demand from food & beverage, pharmaceutical and personal care industries for sustainable packaging is driving the South Korea biodegradable packaging market. Manufacturers are increasingly adopting biodegradable materials to meet regulatory compliance as well as consumer demand for eco-friendly options.
Technological advancements have enabled production of compostable bioplastics from agricultural waste such as starch, cellulose and lignocellulose. Advanced recycling technologies allow recycling of bioplastics along with conventional plastics stream, further boosting their adoption. Continuous R&D is helping overcome limitations such as high costs.
Market Trends
1) Rising popularity of bio-based plastics made from crop residues: With growing focus on utilizing agricultural waste, manufacturers are developing bio-based plastics from biodegradable waste of crops. This helps reduce reliance on fossil fuels for plastic production.
2) Integration of smart packaging technologies: Biodegradable packaging products are being integrated with intelligent indicators, sensors and interactive features for uses such as monitoring freshness, remaining shelf-life and active packaging. This is expanding their applications.
Market Opportunities
1) Growing food delivery and takeaway business: The booming food delivery sector needs sustainable packaging options such as biodegradable clamshell containers, cups and boxes to replace fossil fuel-based polymers. This offers significant opportunities.
2) E-commerce packaging: E-commerce giants are collaborating with bioplastic companies to provide biodegradable mailers, envelopes and boxes made from materials like PLA and cellulose for shipping products. Large market potential exists here.
Impact Of COVID-19 On South Korea Biodegradable Packaging Market Growth
The COVID-19 pandemic has significantly impacted the growth of South Korea biodegradable packaging market. During the initial lockdown phases, supply chain disruptions disrupted the supply of raw materials required for producing biodegradable packaging products. This led to reduced production volumes across packaging manufacturers in 2020. However, with increasing emphasis on sustainability and environmental protection post-COVID, demand for biodegradable and eco-friendly packaging surged exponentially. The pandemic amplified consumers' focus on health and hygiene which drove strong sales of packaged food, beverages and pharmaceutical products. This further augmented the need for sustainable packaging solutions. Also, growing e-commerce activities during the pandemic increased the usage of biodegradable boxes, mailers and flexible packaging for product deliveries. This provided necessary boost to market revenues during 2020-21. Going forward, supportive government policies and initiatives promoting greener alternatives are likely to propel faster adoption of biodegradable packaging across industries. Packaging manufacturers will need to maximize production capacities and focus on innovative product development to cater increasing market demand.
Geographical Regions With Highest South Korea Biodegradable Packaging Market Value
South Korea biodegradable packaging market is majorly concentrated in the capital region of Seoul, accounting for over 40% of total market value. Higher population density, strong presence of leading FMCG brands and major industrial hubs have made Seoul a dominant market for biodegradable flexible packaging, bottles, containers and pouches. Other metropolitan cities like Busan, Daegu, Incheon and Gwangju together contribute to around 30% value share. Steady economic growth and rapid urbanization in these regions have boosted sales of packaged food and consumer goods, driving biodegradable packaging uptake. Rural markets are also emerging at a healthy pace, encouraged by developing rural infrastructure and expanding rural consumption expenditure in recent times.
Fastest Growing Region For South Korea Biodegradable Packaging Market
The Busan metropolitan city-region in South Korea is projected to witness fastest growth for biodegradable packaging market during the forecast period. Consistent industrial expansion underway in Busan led by sectors like petrochemicals, automotive, machinery etc is generating high volumes of packaging waste. This has necessitated greater use of sustainable packaging alternatives. Also, Busan hosts major seaports that support international trade, thereby augmenting the biodegradable packaging requirement for export packaging. Further, growing population, improving disposable incomes and expanding retail infrastructure in Busan and its surrounding areas are propelling sales of packaged consumer products built on biodegradable packaging materials. These factors are expected to fuel double-digit growth for Busan region's biodegradable packaging market in the upcoming years.
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What Are The Key Data Covered In This South Korea Biodegradable Packaging Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the South Korea Biodegradable Packaging's growth between 2024 and 2031.
:- Accurate calculation of the size of the South Korea Biodegradable Packaging and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- South Korea Biodegradable Packaging Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market's competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of South Korea Biodegradable Packaging vendors
FAQ’s
Q.1 What are the main factors influencing the South Korea Biodegradable Packaging?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top South Korea Biodegradable Packaging companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the South Korea Biodegradable Packaging’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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