The Rapidly Growing Disappearing Packaging Market is driven by Sustainability
The Global disappearing packaging market is estimated to be valued at US$ 4.26 Bn 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 are Kuraray Co. Ltd., Aicello Corporation, Aquapak Polymer Ltd, Lactips, Notpla Ltd, GM Packaging, Lithey, Mondi Group, The Mend Packaging, and Reckitt.
The increasing awareness about environment protection and waste management has boosted the demand for sustainable packaging solutions globally. Disappearing packages have grown in popularity due to their eco-friendly composition and ability to reduce plastic waste. Various industries are increasingly adopting disappearing packaging for their products to appeal to conscious consumers.
Major packaging companies have expanded their Disappearing Packaging Market Demand offerings globally to tap growing demand. Many local players have also emerged who offer customized disappearing packaging specific to regional and cultural requirements. The market is expected to witness rapid growth in developing nations due to rising consumption and stricter environmental regulations.
Market Drivers
Regulations banning single-use plastics by various governments worldwide is a major driver for the disappearing packaging market. Over 100 countries have completely or partially banned single-use plastic products like straws, bags, utensils etc. to reduce plastic waste. This makes disappearing packaging a widely acceptable alternative. Furthermore, the material composition of disappearing packages makes them more sustainable and environment-friendly than traditional plastics. The growing consumer preference for brands that use eco-friendly packaging augurs well for the global adoption of disappearing packaging over the forecast period.
The current geopolitical situation is impacting the growth of the Disappearing Packaging market in several ways. The ongoing tensions between major global economies have disrupted supply chains and trade relationships worldwide. This has increased the cost of key raw materials and components for biodegradable packaging. Manufacturers are facing challenges in procuring raw materials from different countries and regions.
Geopolitical instability in certain parts of the world is also restricting the ability of packaging companies to expand and set up new production facilities globally. Issues related to transportation of goods across borders due to policies and sanctions have made it difficult to ensure timely deliveries. This is hampering demand fulfillment and consistent supply.
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