Allied Market Research published a report, titled, “Compostable Plastic Market by Type (Home Compostable Plastic [BioPBS FD92, BWC BF 90A, Ecopond Flex 162], and others), and by Application (Compostable cutlery, Compostable bag, Compostable straw, Compostable gloves, Compostable cup (cold cup), Compostable tray/dish): Opportunity Analysis and Industry Forecast, 2020–2027.” According to the report, the global compostable plastic industry generated $991.2 million in 2019, and is expected to reach $3.10 billion by 2027, portraying a CAGR of 15.4% from 2020 to 2027.

Surge in adoption of compostable plastics due to its eco-friendly nature, increase in demand in food packaging applications, and supportive government policies drive the growth of the global compostable plastic market. However, expensive nature of compostable plastic hinders the market growth. On the other hand, declining dependency on petroleum resources and surge in corporate social responsibility (CSR) activities create new opportunities in the coming years.

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COVID-19 Scenario

• With safety measures becoming essential in sectors such as packaging and food & beverages in which probability of transmission of COVID-19 is high, usage of compostable plastic has been increased considerably.
• Consumers have been giving preference to compostable plastic packaging over conventional plastic packaging to maintain safety and save the environment.
• Retailers and physical store owners have been offering compostable gloves to customers during shopping as a preventive measure as the lockdown restrictions have been lifted off.

The home compostable plastic segment to grow the fastest through 2027:

By type, the home compostable plastic segment is estimated to witness the fastest CAGR of 17.5% from 2020 to 2027, owing to its non-toxic properties and rapid decomposition into water, carbon dioxide, and biomass. However, the others segment contributed to the highest share of the global compostable plastic market in 2019, holding nearly four-fifths of the total share, and will continue its lead position during the forecast period. This is due to high penetration of compostable bioplastics over petroleum-based plastics in different industrial applications.

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The compostable bag segment to maintain the highest revenue contribution by 2027:

By application, the compostable bag segment held the largest market share of the global compostable plastic market in 2019, contributing to nearly half of the total share, and is estimated to maintain the highest contribution throughout the forecast period. This is due to increase in demand for eco-friendly bags in supermarket and online shopping stores. However, the compostable gloves segment would witness the largest CAGR of 16.1% during the forecast period. This is due to rise in application of compostable gloves in the food and bakery industries.

Europe, followed by North America, to maintain its leadership status during the forecast period:

Based on region, Europe, followed by North America, accounted for the largest share, contributing for nearly three-fifths of the total share of the global compostable plastic market in 2019, and will maintain its lead status during the forecast period. This is due to rise in application of compostable plastics in packaging of vegetables and fruits in the region. However, LAMEA is estimated to portray at the largest CAGR of 18.3% from 2020 to 2027, owing to huge number of imports from Asia-pacific and North America regions and expansion of manufacturing facilities.

Market players grabbing largest pie

• BASF SE
• Novamont S.p.A.
• Dow Inc.
• Natureworks
• Plantic
• Biome Technologies plc
• Corbion N.V.
• Eastman Chemical Company
• Mitsubishi Chemical Holdings
• Danimer Scientific

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 Allied Market Research published a research report on the liquid packaging market. The findings of the report states that the global market for liquid packaging generated $331.8 billion in 2019, and is projected to reach $463.2 billion by 2027, witnessing a CAGR of 4.5% from 2020 to 2027. The report offers valuable information on changing market dynamics, major segments, top investment pockets, and competitive scenario for market players, investors, shareholders, and new entrants.

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The report provides insights on drivers, restrains, and opportunities to help market players in devising growth strategies and capitalizing on opportunities. Increase in demand for fast-moving consumer goods (FMCG), rise in online food delivery services, and adoption of lightweight & sustainable packaging drive the growth of the global liquid packaging market. On the other hand, increase in concerns related to recyclability & disposability of plastic packaging products and strict government regulations impede the market growth. However, emergence of nano-food packaging and inclination toward renewable and innovative packaging solutions present new opportunities in the industry.

“The growing demand for food & beverage, cosmetic products, consumer goods, and healthcare products are the biggest drivers of the global liquid packaging market. Manufacturers of liquid packaging collaborate with leading beverage makers to design and develop innovative packaging solutions. Liquid packaging as a primary packaging is useful in establishing a brand and creating its own identity among potential consumers. In addition, proclivity of consumers toward sustainable as well as convenient packaging drive the development of light-weight reusable & recyclable liquid packaging.” said Eswara Prasad, the Manager, Chemical and Material at Allied Market Research.

The report provides a detailed scenario of the impact of the Covid-19 pandemic on the liquid packaging market globally. It is helpful for market players, new entrants, and investors in terms of determining new strategies as per the current scenario and improvising the business model for the next few years. The outbreak of the pandemic gave way to rise in the trend of online grocery shopping and accordingly, there has been a steep increase in the demand for liquid packaging. Also, surge in use of hand washers and sanitizers has led to growing need to manufacture liquid packaging materials.

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The report offers detailed segmentation of the global liquid packaging market based on materials, technology, packaging format, end user, and region.  These insights are helpful for new as well as existing market players to capitalize on the fastest growing and largest revenue generating segments to accomplish growth in the future.

By material type, the plastic segment contributed to the major share in 2019, accounting for more than one-third of the global liquid packaging market, and is expected to maintain its lead position during the forecast period. Simultaneously, the paperboard segment is estimated to witness the highest CAGR of 5.6% from 2020 to 2027.

By packaging type, the rigid segment held nearly two-thirds of the total market revenue in 2019, and would lead the trail by 2027. At the same time, the flexible segment is anticipated to cite the fastest CAGR of 5.8% from 2020 to 2027.

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By region, the region across North America would cite the fastest CAGR of 5.4% throughout the forecast period. At the same time, Asia-Pacific held nearly two-fifths of the total share of the global liquid packaging market, and would retain its dominance by the end of 2027.

Leading market players of the global liquid packaging market analyzed in the report include Berry Global, Constantia Flexibles, Goglio S.p.A., MONDI Plc, ProAmpac, Reynolds Group Holdings Ltd., Amcor Limited, Sealed Air Corporation, Tetra Laval, Gerresheimer AG,  SIG Combibloc Group Ltd., Smurfit Kappa, and Sonoco Products Company.

About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to offer business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.

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