The global compostable packaging market size was US$ 84.1 billion in 2021. The global compostable packaging market is forecast to grow to US$ 151.04 billion by 2030 by growing at a compound annual growth rate (CAGR) of 8.1% during the forecast period from 2022 to 2030.

Factors influencing the Market

Compostable packaging is an efficient way to offer eco-friendly and sustainable packaging. The growing awareness about biodegradable and compostable packaging will fuel the growth of the market.

Growing demand for attractive product appearance will offer ample growth opportunities for the global compostable packaging market. In addition, the steeply growing food & beverage industry is forecast to increase growth prospects for the compostable packaging industry in the coming years.

The rising adoption of compostable packaging in large enterprises, such as Coca-Cola, Unilever Group, and Danone, will contribute to the growth of the market.

Stringent rules by governments to ban plastic waste are forecast to benefit the compostable packaging market throughout the forecast period. On the contrary, the high cost of materials may limit the market expansion.

The growing pharmaceutical industry and increasing demand for novel drugs will escalate the market growth. Furthermore, growing disposable income and consumer spending on healthcare will propel the compostable packaging market forward.

COVID-19 Impact Analysis

The wake of the COVID-19 pandemic has surged the awareness related to a healthy environment. During the pandemic, the demand for compostable packaging surged significantly. Various companies began adopting eco-friendly ways in order to cater to public demands. The Coca-Cola Company began adopting compostable packaging and displayed their strategies to adopt environmentally-friendly packages to outperform.

The demand for packed food and beverages increased abruptly. Thus, it has been beneficial for the pandemic. Moreover, the pharmaceuticals segment also witnessed unexpected growth. As a result, it has contributed to the growth of the global compostable packaging market.

Regional Analysis

North America is forecast to dominate the global compostable packaging market in terms of revenue. The growth of the market is attributed to the rapidly growing end-use industries, such as pharmaceuticals, food, beverage, etc. In addition, Asia-Pacific compostable packaging market is forecast to grow at a considerable growth rate due to growing awareness related to eco-friendly packaging.

Competitors in the Market

BASF SE
Biome Bioplastics Limited
Bio-On
Braskem (Brazil)
Innovia Films Limited
Mitsubishi Chemical Corporation
NatureWorks
Novamont
Plantic Technologies
tipa-corp ltd.
Toray Industries
Total Corbion PLA
Other Prominent Players
Market Segmentation

The global compostable packaging market segmentation focuses on Material, Application, End-Use Industry, and Region.

The compostable packaging market has been segmented based on material

Starch-Based Packing
Compostable Plastics
Compostable Paper
The compostable packaging market has been segmented based on application

Boxes
Bags
Others
The compostable packaging market has been segmented based on the end-use industry

Food & Beverages
Household
Agriculture
Pharmaceuticals
Others
The compostable packaging market has been segmented based on the region

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
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