In the United Kingdom, Technavio analysts expect the global biodegradable paper packaging market to grow 11% per year through 2021, driven by increased adoption of sustainable packaging products by retailers.
“Increasing concerns regarding global warming, carbon emissions, environmental hazards, and the need for reducing waste are leading to the rise in adoption of environment-friendly packaging materials,” says Ajay Adikhari, a lead analyst at Technavio for biochemicals and biomaterials research. “Initiatives by governments of many countries, promoting the use of sustainable packaging materials are encouraging retailers and intermediaries to adopt biodegradable materials for packaging purposes,” Ajay adds.
Increasing consumer awareness and spending will also drive demand for fresh and minimally processed food and beverages with biodegradable packaging materials such as bioplastics and paper.