According to the research report titled ‘Global Biodegradable Paper and Plastic Packaging Market Size study, by Application (Food Packaging, Beverage Packaging, Pharmaceuticals Packaging and Others) by Packaging Type (Plastic and Paper) and Regional Forecasts 2022-2028’, available with MarketStudyReport, global biodegradable paper and plastic packaging market is estimated to grow substantially during the forecast timeline.

Supportive government initiatives that support sustainable practices and increasing launch of new products are some of the chief factors driving the growth of global biodegradable paper and plastic packaging market.

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For the unversed, packaging made of biodegradable paper and plastic is known to be effective and eco-friendly. They are created from renewable materials such as corn-based materials, cassava, and other natural materials, which are easy to compost and reuse waste.

Apart from this, rising R&D activities, the increasing popularity of biodegradable packaging solutions, and the growing packaged food sector will add traction to global biodegradable paper and plastic packaging industry size. However, limited investment in biodegradable plastic production and the high cost of the product is likely to hinder the overall market growth in the subsequent years.

Based on the application gamut, the market is fragmented into pharmaceuticals packaging, beverage packaging, food packaging, and others. Moving on to the packaging type, global biodegradable paper and plastic packaging industry is categorized into paper and plastic segments.

Regionally, Europe is expected to generate lucrative returns for the market contenders in the forthcoming years, owing to the growing adoption of bioplastics and the rising strategic initiatives undertaken by private players.

Whereas Asia-Pacific biodegradable paper and plastic packaging market is projected to register the highest CAGR over the forecast period, due to rising end-user industries and favorable government initiatives.

The leading companies influencing the global biodegradable paper and plastic packaging market trends are Stora Enso Oyj, Shanghai Disoxidation Enterprise Development Co. Ltd., DoECO, Eurocell S.r.l., UltraGreen Sustainable Packaging, Storopack Hans Reichenecker GMBH, SmartSolve Industries, and Riverside Paper Co. Inc. among others