The global Biodegradable Packaging Market Growth Accelerated by Sustainable Packaging Mandates
Biodegradable packaging refers to packaging materials that can be decomposed by bacteria or other living organisms. It mainly includes paper and paperboard, plastic, and others. Biodegradable packaging helps reduce the harmful environmental impact of plastics, as it decomposes after use without leaving behind any toxic residue. It also comes with added advantages such as moisture barrier properties and printability. The growing awareness about climate change and environmental protection has propelled the demand for sustainable alternatives to traditional plastic packaging. The global Biodegradable Packaging Market is estimated to be valued at US$ 40 Billion in 2023 and is expected to exhibit a CAGR of 20% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market key trends: Sustainable packaging mandates by regulatory bodies across countries is a major trend fueling market growth. Many developed nations have proposed o...