NEWARK, Del, Aug. 31, 2022 (GLOBE NEWSWIRE) -- DUBAI, United Arab Emirates: As per Future Market Insights (FMI), the bamboo packaging market is poised to expand at a 6.4% CAGR during the forecast period (2022-2032), as compared to the CAGR of 4.0% registered during the year 2015-2021. Across the globe, preference for eco-friendly packaging for products in diverse industries is spurring the demand for bamboo packaging.
Hence, manufacturers are using this packaging for a plethora of products such as cups & straws, bottles & jars, boxes & cartons. Further, as the demand is shifting from single-use plastic to sustainable packaging, the adoption of bamboo packaging is predicted to surge.
Moreover, growing environmental concerns have helped the bamboo packaging market as governments of various countries such as India, China, the U.S., and others have initiated to promote the bamboo packaging. For instance, the National Bamboo Mission by the Government of India was announced to curb the use of plastic and reduce carbon footprints.
Bamboo packaging is used in various industries as it has various benefits due to its anti-bacterial packaging. In addition, bamboo packaging also makes the products look more aesthetic. Hence, numerous end users in food & beverage and cosmetics & personal care industries are increasing the adoption of bamboo packaging.
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Key Takeaways from Bamboo Packaging Market
· The cups & straws segment is estimated to hold around 21% of the market share by the end of 2022.
· Based on end use, the food & beverages industry is projected to expand 1.8x the current market sales during the forecast period.
· India is expected to lead the growth in South Asia bamboo packaging market, registering a CAGR of nearly 6.3% between 2022 and 2032
· East Asia is anticipated to be the most remunerative market due to high cultivation of bamboo and increasing demand for sustainable packaging.
· The U.S. and the U.K. are expected to remain the most dominant countries on the back of growing application from diverse industries
“Increasing need for eco-friendly and cost-efficient packaging is accelerating the demand for bamboo packaging. The availability of different packaging types in diverse sectors such as food & beverage, cosmetics, and personal care is anticipated to create growth prospects for manufacturers.” -says FMI analyst
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Bamboo Packaging Market by Category
By Pulp Type:
- Recycled Pulp
- Virgin Pulp
By Packaging Type:
- Cups & Straws
- Bottles & Jars
- Boxes & Cartons
- Clamshell
- Tubes
- Mailers
- Barrels
- Crates
- Pallets
- Others (Bowls, Plates, etc.)
By End-use Industry:
- Foods & Beverages
- Pharmaceuticals
- Cosmetics & Personal Care
- Electrical & Electronics
- E-Commerce
- Automotive
- Agriculture
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Growing Sustainability Concerns to Push Demand in the Market
Increasing environmental concerns have increased the preference for sustainable packaging across the globe. Consumers are becoming more aware of the effects of plastic and single-use packaging on the surroundings. Bamboo packaging is a replacement for metal or plastic packaging as it grows without the need for pesticides.
Bamboo packaging can be composted easily and sustainability is in every process connected with the production. Hence, various manufacturers are also replacing plastic packaging with bamboo packaging to achieve sustainability. For instance, Dell has started using bamboo packaging to protect laptops. They have started using bamboo for interior cushioning. Thus, rising awareness regarding sustainability is fuelling the demand for bamboo packaging.
Further, government organizations are also providing support to bamboo packaging manufacturers. According to the report by International Bamboo and Rattan Organisation, in 2021, various representatives from government and non-government organizations took part in the event to discuss bamboo as an alternative material to plastic.
China’s recent policies saw restrictions and a ban on the import of plastic waste. China is ready to replace plastic with bamboo packaging. Thus, various efforts from the government and various other organizations are propelling the growth of the bamboo packaging market.
Bamboo Packaging Market Landscape
The key players operating in the global bamboo packaging market are HuhtamakiOyj, APackaging Group., Pi sustainable packaging Co., Ltd., Bloom Eco Packaging Co., Ltd., Golden Arrow, Inc., and Three Bamboo. Also, some of the other noticeable players in the market are Xiamen HBD industry & trade CO., LTD, Meysher Industrial Group, Sunkea, GUANGZHOU HUIHUA PACKAGING PRODUCTS CO. LTD, Ningbo Willest International Trading Co., Ltd., Yiwu Cool Commodity Co., Ltd., BeGreen Packaging, Bio Transito SAS Ltd, and others.
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Market Analysis
1.3. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Impact of Covid-19
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
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About the Packaging Division at Future Market Insights
The packaging division at Future Market Insights provides an in-depth historical analysis and projections for the next ten years and covers the competitive landscape through a unique dashboard view. Ranging from packaging materials, packaging machinery to packaging designs & formats, Future Market Insights has an exhaustive database for these industry verticals, serving clients with unique research offerings and strategic recommendations. With a repository of 1,000+ reports, the team has analysed the packaging industry comprehensively in 50+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help.
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