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The botanical packaging market is estimated to grow at higher pace owing to
increasing demand for eco-friendly packaging solutions. Botanical packaging
involves the use of plant-based materials such as bamboo, wood, sugar cane,
etc. for packaging products. These packaging materials are fully biodegradable
and compostable. They provide excellent insulation and moisture barrier
properties. Botanical packaging helps reduce plastic waste and provides
sustainable packaging alternatives. The growing consumer preference for green
packaging is driving several industries like food & beverage, cosmetics,
pharmaceuticals to adopt botanical packaging formats.
Key Takeaways
Key players operating in the botanical packaging are Acacia
Communications,fSONA Networks,LightPointe Communications,Plaintree Systems
Inc.,Trimble Hungary Kft. (Eos Positioning Systems),Wirepas Ltd.,Aoptix
Technologies Inc.,NEC Corporation,Signify Holding (formerly Philips
Lighting),Wireless Excellence Limited (CableFree). The demand for botanical
packaging is growing due to various regulations implemented on single-use
plastics and plastic packaging formats. Many countries have implemented
regulations to ban or curb the use of plastic packaging. This is fueling the
demand for sustainable and eco-friendly packaging made from natural and
biodegradable materials. Technological advancements are enabling new
applications of botanical materials for packaging. For example, advanced
processing methods allow making thin films and flexible packaging materials
from plants that can replace plastics.
Market Trends
Growing consumer awareness about sustainability in Global
Botanical Packaging Market Size: There is rising consumer awareness
about the environmental impact of plastic packaging waste. This is driving the
demand for green and sustainable packaging made from natural and biodegradable
materials like botanicals.
Advanced material development: Material scientists are developing new materials
and blends using botanical sources through advanced processing techniques. This
is expanding the applications of botanical packaging into new product segments.
Examples include veggie straws, films, and molded containers.
Market Opportunities
Regulatory push for eco-friendly solutions: Many governments and regulatory
bodies are implementing stringent regulations to curb plastic pollution. This
is creating opportunities for botanical packaging manufacturers to collaborate
with regulated industries.
Innovation in application segments: There is scope to develop innovative
application-specific botanical packaging solutions forAddressable packaging
segments include Food & beverage, cosmetics, pharmaceuticals,
Industrial/Agricultural, etc.
Impact of COVID-19 on Botanical Packaging Market
The COVID-19 pandemic has significantly impacted the growth of the botanical
packaging market globally. During the initial outbreak, restrictions were
imposed on transportation activities, stringent lockdowns were implemented, and
social distancing norms were advocated. This disrupted the supply chains,
stalled industrial operations, and affected the demand from end-use industries
like food and beverages, cosmetics, pharmaceuticals, etc. However, with the
growing health consciousness among consumers during the pandemic, the demand
for environment-friendly and sustainable packaging increased significantly. The
rising focus on sustainability and reducing carbon footprint further boosted
the adoption of plant-based packaging materials like paper, cardboard, and
agricultural waste products.
Post-COVID recovery, the botanical packaging market is anticipated to
demonstrate strong growth momentum worldwide. Consumers are increasingly
favoring natural, recyclable, and compostable packaging options that are not
derived from petroleum products. Manufacturers are also embracing green packaging
solutions to meet the evolving customer preference and expanding their product
portfolios to cater to surging market demand. Various governments worldwide are
implementing supportive policies and regulations and providing incentives to
promote the production and usage of biodegradable and compostable plant-based
packaging alternatives. With sustainability becoming a strategic business
priority, the botanical packaging market is well-positioned to witness robust
expansion over the next decade.
Geographical regions with concentrated market value
The botanical packaging market is currently concentrated in North America and
Europe in terms of value. North America holds the leading market share owing to
strong government support, strict regulations regarding single-use plastics,
and presence of key industry players. Europe follows North America in market
value due to the growing environmental consciousness among European consumers
as well as initiatives like EU plastic strategy aimed at minimizing plastic
waste. Both regions have established production facilities and advanced
technologies to produce sustainable botanical packaging from agricultural
by-products. However, other regions like Asia Pacific and Latin America are
anticipated to emerge as lucrative markets going forwards.
Fastest growing region for botanical packaging market
Asia Pacific region is projected to be the fastest growing market for botanical
packaging during the forecast period from 2024 to 2030. The growth can be
attributed to rising environmental degradation concerns, increasing consumption
of packaged food and beverages, evolving consumer preferences towards
eco-friendly options in countries like China, India, Japan and Indonesia.
Various national and regional government policies promoting sustainable
packaging are also propelling growth. Additionally, a large agricultural sector
producing biomass residues in these developing countries offers an abundant
renewable resource base to accelerate production and commercialization of plant-based
packaging through foreign direct investments. Overall, supportive market trends
and government initiatives are expected to drive rapid expansion of botanical
packaging market in Asia Pacific over the next decade.
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