The Disappearing Packaging Market is set to Burgeon with Increasing Adoption of Bio-degradable Products
The disappearing packaging market comprises biodegradable bags, pouches and wrapping films that are manufactured using plant-derived materials such as seaweed, citric acid and other plant polymers. These packaging materials provide comparable shelf-life for products whilst ensuring minimal harm to the environment at the end of the product lifetime. The global disappearing packaging market demand is driven by increasing awareness about sustainability and environmental protection. The Disappearing Packaging Market is estimated to be valued at US$ 4.26 Bn in 2024 and is expected to exhibit a CAGR of 11% over the forecast period 2024 To 2031. Key Takeaways Key players operating in the disappearing packaging market are Kuraray Co. Ltd., Aicello Corporation, Aquapak Polymer Ltd, Lactips, Notpla Ltd, GMPackaging, Lithey, Mondi Group, The Mend Packaging, and Reckitt. The increasing demand for sustainable packaging from the food and beverage industries is a key driver of the growth in the disappearing packaging market size various regulations banning single-use plastics are accelerating the adoption of biodegradable packaging solutions. The market players are expanding their manufacturing facilities across North America, Europe and Asia Pacific to cater to the rising global demand. Various collaborations between packaging manufacturers and brand owners are further expected to drive the market during the forecast period. Market Key Trends One of the key trends gaining traction in the disappearing packaging market is the development of polymer blends that can vanish completely within 90 to 120 days when disposed under favorable conditions. Manufacturers are constantly innovating to design packaging materials that can degrade faster while maintaining comparable functionality to conventional plastics. This helps in minimizing environmental footprint of packaging waste. ongoing research and development is expected to introduce more efficient bio-degradable solutions in the coming years.
Porter's Analysis Threat of new entrants: Low capital requirements to enter the market. Barriers to entry are low due to technology advancements and availability of raw materials. Bargaining power of buyers: There are few global vendors and a fragmentation of smaller players. Buyers have moderate bargaining power due to availability of variety of bio-degradable packaging materials. Bargaining power of suppliers: Suppliers of bio-based raw materials like starch, cellulose and polylactic acid have moderate bargaining power due to availability of substitutes. Threat of new substitutes: High threat from emerging new biodegradable packaging materials like Seaweed based packaging etc. Competitive rivalry: The disappearing packaging market challenges and opportunities such as a high level of competition among established players and new entrants, driven by the fragmentation of smaller players and the availability of low-cost technology. Price wars and frequent new product launches are common. However, these conditions also present opportunities for innovation and differentiation within the market. Geographical Regions North America region is currently holding the major share of disappearing packaging market in terms of value due to stringent regulations regarding single use plastics and adoption of sustainable solutions. Asia Pacific region is expected to witness the fastest growth during the forecast period attributed to increasing awareness about environmental issues and emergence of favorable government policies promoting bio-degradable packaging in countries like India and China.
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