The global market for biodegradable packaging could more than double over the next nine years, according to research.
A report by Introspective Market Research found that the value of containment products designed to break down without harm to the environment was $13.3 billion in 2023.
This could soar to an astonishing $31.6bn by 2032, the study forecast.
Growth was being driven by “environmental awareness” and “stringent legislation”, said the report.
It added: “Buyers, particularly within the consumer and business segments, are becoming conscious of the effects of plastics on the environment, which results in their altering of habits and preference for sustainable solutions.
“This change is backed by governments through the formulation of polices that encourage the use of degradable products.”
The study said creation of specialised solutions was anticipated to boost biodegradable packaging.
“Chemical recycling technologies and enzymatic attack can … decompose biodegradable materials to their atomic level so that they can again be fed to the makers of packaging or other products.”
