Global Biodegradable Bags Market is segmented by Type (Oxo-biodegradable Bags and hydro-biodegradable Bags), by application (Food and beverages, Pharmaceuticals, Packaging, Agriculture and composting, Textiles), by region (North America, South America, Asia-Pacific, Europe and Middle East & Africa). Global Industry analysis and forecast 2018-2026. Global Biodegradable bags market was valued US$ 1470 Mn in 2017 and is anticipated to reach US$ 2900 Mn by 2026 at a CAGR of about 7.84% during a forecast.
Rapid growth in Oxo-biodegradable Bags market in North America:
Oxo-biodegradable bags are used in packaging of various products such as pharmaceuticals, snack food products, frozen food products, pet food, cheese packaging and coffee packaging. As per analytical study carried out on Oxo-biodegradable Bags market, the global market is expected to soar at a rate of 5.6% CAGR during a forecast period, mainly driven by increasing need for environment friendly packaging solution. In 2017, the global Oxo-biodegradable Bags market stood at US$ 680 Mn and is estimated to reach a value higher than US$ 1100 Mn by the end of assessment period 2026.
Packaging industry growing in Asia-Pacific:
The food & beverage industry contributes heavily to the biodegradable packaging industry. Thus, the growth of the food and beverage related packaging will promote the biodegradable bag market growth in coming years. Asia-Pacific is expected to be an attractive region for Oxo-biodegradable bags market. The manufacturing and adoption of these products is high in developing countries in the region. Asia-Pacific Oxo-biodegradable bags market is expected to exceed at a high level CAGR during the forecast period. The sales of this packaging type is expected to exceed US$ 370 Mn by end of 2026. Middle East and Africa is likely to emerge as a lucrative market for biodegradable bags packaging.
The largest consumer of Biodegradable bags market are North America:
U.S. was the largest consumer of Biodegradable bags market in 2017 and the country is likely to continue its dominance during the forecast period. The U.S. accounted for the largest market share in the biodegradable bags market due to increasing in concerns regarding the environment in people, which is anticipated to fuel the global market in future.
This report includes a study of marketing and development strategies, along with the product portfolios of leading companies. It includes the profiles of leading manufacturers such as BASF SE, Biopac India Corporation Ltd., Smurfit Kappa Group, Mondi Group, WestRock Company, Georgia-Pacific, Metabolix, Inc., Cereplast Inc., Novolex, Shabra Group, International Plastics Inc., Ampac Holdings LLC, Bulldog Bag Ltd., Abbey Polyethene, Sahachit Watana Plastic Industry Co Ltd., and Sarah Bio Plast.
Maximize market research, a global market research firm with dedicated team of specialists and data has carried out extensive research about the Global Biodegradable Bags Market. Report encompasses the market by different segments and region, providing the in-depth analysis of overall industry ecosystem, useful for taking informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the Global Biodegradable Bags Market. The driving forces as well as considerable restraints have been explained in depth. In addition to this, competitive landscape describing about the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain Global Biodegradable Bags Market positioning of competitors.
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