June 16, 2024
Disappearing Packaging Market

Disappearing Packaging Market to Witness High Growth Owing to Growing Environmental Concerns

The disappearing packaging market utilizes various biodegradable and edible materials for manufacturing packaging products that completely break down and disappear over time without leaving any traces of harmful waste behind. Products like edible wrappers and active pouches made from seaweed, wheat, and corn-based substrates are gaining traction.

The global disappearing packaging market is estimated to be valued at US$ 8.96 billion 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 Growth are Kuraray Co. Ltd., Aicello Corporation, Aquapak Polymer Ltd, Lactips, Notpla Ltd, GM Packaging, Lithey, Mondi Group, The Mend Packaging, and Reckitt. Major manufacturers are focusing on introducing innovative products made from natural polymers and launching active and smart packaging variants. The growing demand for sustainable packaging solutions from industries like food and beverages provides numerous profitable opportunities. Moreover, supportive government regulations regarding single-use plastics and initiatives to curb plastic pollution are encouraging global adoption of biodegradable disappearing packaging across various countries.

Market drivers

Rising environmental awareness among consumers and stringent government norms to reduce plastic waste are significant factors driving the demand for disappearing packaging solutions. Plastic pollution has emerged as a major ecological threat in recent years. Disappearing packaging helps limit the negative environmental impact of plastic waste since the materials completely break down without trace. The biodegradable and edible nature of products eases sustainable disposal of used packaging. This property is expected to further boost the disappearing packaging market over the forecast period.

PEST Analysis

Political: Environmental regulations regarding elimination of plastic waste are becoming stricter worldwide. This is expected to drive demand for disappearing packaging solutions.

Economic: Rising disposable incomes are allowing consumers to pay higher prices for eco-friendly and sustainable packaging options.

Social: Increasing awareness about plastic pollution and its harmful effects on the environment is prompting consumers and businesses to switch to degradable packaging materials.

Technological: Advancements in material science are facilitating development of novel bio-based and technology-enabled disappearing packaging formats that can degrade efficiently without harming the environment.

Geographical concentration

North America accounts for the largest share in terms of value currently due to stringent regulations and rising consumer demand for sustainable packaging formats.

Fastest growing region

Asia Pacific region is anticipated to witness the highest CAGR during the forecast period driven by supportive government policies, growing environmental consciousness, and rapid pace of economic development across countries such as China and India.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it