South Korea Biodegradable Packaging Market Research Report, 2028

South Korea, a country noted for its rapid industrialization and scientific developments, is making substantial advances in biodegradable packaging. South Korea has been a center for innovation in sustainable packaging solutions, owing to a growing awareness of environmental concerns and the desire to minimize plastic waste. In recent years, the South Korean biodegradable packaging market has grown dramatically because of a mix of government initiatives, customer demand, and industry innovation. This market reflects not only the country's dedication to sustainability but also its capacity to adapt to global trends while embracing its unique cultural past. Plastic pollution and its environmental impact have sparked significant concern in South Korea. The government has responded by enacting tough rules and policies to encourage the use of biodegradable packaging materials. These policies have created a favourable environment for enterprises in the biodegradable packaging sector, giving both incentives and regulations for eco-friendly alternatives to regular plastics. As a result, the South Korean biodegradable packaging market has seen an increase in investment and research and development efforts, opening the way for creative solutions that are both environmentally friendly and economically effective. The South Korean biodegradable packaging market is notable for its alignment with the country's cultural norms. Many packaging firms have been motivated by South Korea's rich history and profound appreciation for the environment to incorporate elements of heritage and sustainability into their goods. This novel method not only meets the global demand for eco-friendly packaging, but it also appeals to consumers who value heritage and environmental responsibility. As a result, biodegradable packaging solutions frequently combine modern design with traditional patterns and materials, resulting in products that are appealing to both domestic and international markets. According to the research report "South Korea Biodegradable Packaging Market Overview, 2028," published by Actual Research, the South Korea Biodegradable Packaging market is expected to reach market size of more than USD 2.5 Billion by 2028. South Korea has implemented a number of government-led initiatives and legislation aimed at reducing plastic waste and encouraging the use of biodegradable packaging. This includes financial incentives for firms to use environmentally friendly packaging materials. To ensure that biodegradable packaging materials satisfy specified environmental criteria, South Korea has set certification standards. The certification procedure assists consumers in identifying environmentally friendly products. South Korea has been investing in recycling infrastructure in order to better handle biodegradable materials and ensure that they are handled in an environmentally appropriate manner. South Korea has developed award and recognition programs for businesses and individuals who make major contributions to the creation and use of biodegradable and environmentally friendly packaging. Smart packaging solutions, including technology to monitor product freshness and safety, have been developed by South Korean enterprises. These novel packaging materials have the potential to reduce food waste while also contributing to sustainability. South Korea has established a Plastics Collection Fund, which collects fees from plastic makers and importers in order to fund plastic waste collection and management. These funds can be invested in recycling infrastructure and utilized to promote the use of biodegradable materials. The South Korean government has set ambitious targets for reducing plastic waste, including reducing single-use plastics in public institutions and businesses. This includes measures to encourage the use of biodegradable alternatives. South Korea has seen the emergence and growth of a biodegradable plastics industry, including the manufacturing of biodegradable polymers, resins, and films for packaging.

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Based on type market is divided into paper, plastic and bagasse Plastic material is expected to register highest growth rate in South Korea biodegradable packaging market. South Korea has pioneered the development of advanced biodegradable plastics, such as biodegradable polymers and films. These materials are intended to provide the benefits of typical plastic (durability, flexibility, etc.) while remaining environmentally benign. Biodegradable plastics can meet customer demand for environmentally friendly packaging choices. Consumers are increasingly looking for sustainable packaging options as environmental awareness and worry about plastic pollution develop. Biodegradable plastics can be utilized in a variety of applications, including food packaging, industrial packaging, and medical packaging. Their adaptability makes them an appealing option for businesses in a variety of industries. Based on plastics market is divided into cellulose-based plastics, polylactic acid (PLA), starch based poly-3-hydroxybutyrate (PHB), polyhydroxyalkanoates (PHA) and others (protein-based bioplastics, genetically modified bioplastics). Cellulose-based plastics are commonly used as biodegradable packaging market. Cellulose-based polymers are biodegradable because they are generated from natural sources, chiefly plant cellulose. Microorganisms can break them down into natural components like carbon dioxide and water over time, returning to the environment in an eco-friendly manner. Cellulose occurs naturally and is derived from renewable resources such as wood pulp, cotton, and agricultural leftovers. This sustainable sourcing decreases the environmental impact of non-renewable materials used in traditional plastics, such as fossil fuels. These plastics can be adapted to individual uses by modifying the manufacturing process, allowing for different forms, thicknesses, and qualities based on the packaging requirements. Based on paper material market is divided into corrugated fiberboard, kraft paper, paperboard, flexible paper, boxboard and others (greaseproof paper, corrugated bubblewrap). Among them market is majorly dominated by corrugated fiberboard in South Korea. Corrugated fiberboard is a flexible material with numerous packaging applications. It is often used for shipping boxes, retail packaging, and, in some situations, food packaging. To satisfy unique packaging requirements, corrugated fiberboard can be tailored in terms of size, shape, and printing. As a result, it can be used for a wide variety of products and sectors. Corrugated fiberboard is safe for food packaging since it contains no chemicals or pollutants. As a result, it is appropriate for a variety of food packaging applications. Corrugated fiberboard is lighter than many alternative packaging materials, lowering transportation costs and fuel usage, which is in line with sustainability aims. Some corrugated fiberboard packaging can be upgraded further with biodegradable coatings or finishes, boosting its longevity and sustainability resistance without compromising its biodegradability. Based on application market is segmented into food packaging, beverage packaging, personal/homecare packaging, healthcare/pharmaceutical, logistic and others (agriculture). In recent years, South Korean customers have become increasingly ecologically sensitive. This awareness has resulted in an increase in demand for environmentally friendly products and packaging materials. These consumer preferences are met by biodegradable packaging. The South Korean government has put policies and regulations in place to encourage the use of environmentally friendly and biodegradable packaging materials. This includes financial incentives for enterprises that use environmentally friendly packaging. Green and sustainable packaging is actively sought after by consumers. Personal and homecare product producers benefit from biodegradable packaging materials. In terms of distribution channel market is bifurcated into wholesalers, retailers and others. Wholesalers channel is predicted to lead the market of South Korea with significant market share due to wide distribution network and excessive flow of logistics making it major distribution channel for biodegradable packaging market.

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Kripa Shah

Senior Analyst

Considered in this report: • Geography: South Korea • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report: • South Korea Biodegradable Packaging market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Material Type: • Paper • Plastic • Bagasse

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By Paper: • Corrugated Fiberboard • Kraft Paper • Paperboard • Flexible Paper • Boxboard • Others (Greaseproof paper, Corrugated BubbleWrap) By Plastic: • Cellulose-based plastics • Polylactic acid (PLA) • Starch Based • Poly-3-Hydroxybutyrate (PHB) • Polyhydroxyalkanoates (PHA) • Others (protein-based bioplastics, genetically modified bioplastics) By Application: • Food Packaging • Beverage Packaging • Personal/Homecare Packaging • Healthcare/Pharmaceutical • Logistic • Others (Agriculture) By Distribution Channel: • Wholesalers • Retailers • Others The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources. Intended audience: This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Biodegradable Packaging industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.