Biodegradable Plastic Packaging Market Share

Market Share of Biodegradable Plastic Packaging Industry

The biodegradable plastic packaging marketis highly fragmented, as the global players are moving toward developing new technologies to manufacture plastic packaging material from various easily available natural resources. The major investments in research and development by the players, in order to developinnovative products, aregenerating high competitions in the market. The key players are Tetra Pak International SA, Plastic Suppliers Inc., Kruger Inc.,etc. The recent developments in the market are as follows -

• January 2019 - KFC of Plano, Texas,announced a new global sustainability commitment that all plastic-based consumer-facing packaging will be recoverable or reusable by 2025. KFC says the goal supports its long-term plan to implement a more sustainable packaging strategy in its restaurants by both developing and using sustainable packaging options, as well as buildingon the progress already made in some markets to eliminate plastic packaging items.

Biodegradable Plastic Packaging Market Leaders

1. Tetra Pak International SA

2. Plastic Suppliers Inc.

3. Kruger Inc.

4. Amcor Limited

5. Mondi PLC

*Disclaimer: Major Players sorted in no particular order