According to FutureWise analysis the Biodegradable Cosmetic Packaging Market is expected to reach US$ 11.87 billion by 2031 at a CAGR of 6.40%. Market growth is driven by increasing consumer demand for sustainable beauty products and stricter regulations on plastic use. Leading cosmetic brands are adopting biodegradable materials like paperboard, bioplastics, and plant-based films to reduce carbon footprints and enhance their eco-friendly reputation.
Packaging with paper, plastic and synthetic polymers is well known for the manufacturing industry, but the biodegradable packaging offering special kind of attention in packaging. Biodegradable packaging is done with biodegradable materials (from plants, animals and mineral sources), which are produced in several different forms to adapt to the requirements for packaging and storage of various products. Currently, biodegradable packaging includes gels, films, bags and boxes with lids and trays. Mostly biodegradable packaging is taken from plant sources like soya and sometimes packaging can be done with biodegradable material with silver.
Increasing demand biodegradable packaging to control material wastage led to development of market. Packaging material is integral part of cosmetic products for improving brand visibility and appearance. They are intended to protect the product from external environment. Increasing concerns of global waste deposition led to potential growth biodegradable packaging market. Further, changing government policies to encourage the usage of biodegradable products led to potential growth of global biodegradable cosmetic packaging market. Along with this, increasing awareness among the general population has boosted the growth of the market. It is also further boosted by increasing capital investments by manufacturers and expected to witness double growth digit during forecast period.
Global market is dominated by North America and Europe region due high penetration over the general population. U.S. account major share in North America market and Europe is dominated by UK, France and Germany due to high awareness of general population. Asia Pacific and Latin America regions have created a potential opportunistic space for manufactures due to increasing importance of environmental protection. They are expected to witness a highest growth rate in global the market. Rest of world is expected to account significant share in global market due to increasing adoption.