Botanical Packaging Market: Overview
In the past few years, organic packaging, such as botanical packaging, has gained popularity in the packaging industry. Botanical packaging helps reduce the carbon footprint and takes up to 36% less energy to make as compared to conventional plastic packages. These benefits make botanical packaging suitable for those brand owners who desire the positive environmental positioning of their products. The material used in botanical packaging is corn-starch, sugarcane or other agricultural waste. Moreover, botanical packaging finds applications in various end-use industries such as food & beverages, cosmetics, healthcare, etc.
Changes in consumer preference towards organic packaging solutions is driving the demand for botanical packaging
Changes in consumer preference towards eco-friendly packaging solutions is driving the global demand for botanical packaging. Conventional packaging generates waste and cannot be recycled easily, which is boosting the popularity of botanical packaging. Moreover, the high demand generated from various end-use industries, such as cosmetics, pharmaceuticals and food & beverages, is further increasing the demand for botanical packaging. The increasing usage of perfumes, essential oils and other personal care products is escalating the need for botanical packaging. Rising awareness about the biodegradability and sustainability of products is also expected to drive the global botanical packaging market. Key manufacturers are using botanical packaging to gain the attention of consumers by making their products more environmental friendly.
As botanical packaging offers a higher profit margin, the preference for botanical packaging is higher among consumers as compared to conventional packaging, which is driving the market. Moreover, the favourable government regulatory inclinations towards plant-based products is increasing the demand for botanical packaging. For instance, the enactment of the Horizon 2020 strategy by the European government has resulted in a positive impact on the growth of the botanical packaging market. However, as compared to plastic packaging, the prices of products packed in botanical packaging are slightly higher.
Botanical Packaging Market: Segmentation
By packaging type, the botanical packaging market can be segmented as follows:
By end use, the botanical packaging market can be segmented as follows:
Botanical Packaging Market: Key Players
Several unrecognised and local players are expected to contribute to the growth of the global botanical packaging market during the forecast period.
Owing to stringent regulations regarding plastic, Europe is estimated to register high sales in the botanical packaging market
Geographically, the botanical packaging market can be segmented into Europe, North America, Asia Pacific, Latin America and the Middle East & Africa (MEA). Europe has strict regulations pertaining to the usage of plastics, and the rising consumer awareness about the importance of biodegradability is expected to boost the botanical packaging market in the region. Furthermore, the UK and France are also expected to adopt this trend. The strong production capacities of botanical packaging, especially in emerging economies such as China and India, are expected to propel the botanical packaging market during the forecast period.
Key Developments in the Botanical Packaging Market
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain of the global botanical packaging market. The report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with botanical packaging market attractiveness as per segments. The report also maps the qualitative impact of various factors on botanical packaging market segments and geographies.
Botanical Packaging Market: Report Highlights
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