Global Mushroom Packaging Market is Set to Enjoy a Valuation of US$ 57.9 Mn in 2022, and Further Expand at a CAGR of 7.2% to Reach US$ 115.7 Mn by the year 2032 end | Future Market Insights, Inc.
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Future Market Insights Global and Consulting Pvt. Ltd.
Elevated Demand for Biodegradable Packaging Solutions Drives Mushroom Packaging Market to US$ 115.7 Mn by 2032. The U.S. mushroom packaging market is anticipated to grow 1.8 times the current market value during forecast period. The increasing demand for cosmetics and personal care product is increasing the demand for mushroom packaging
DUBAI, United Arab Emirates, Nov. 02, 2022 (GLOBE NEWSWIRE) -- The global mushroom packaging market is projected to reach a value of US$ 115.7 Mn by 2032, with the market growing at a healthy CAGR of 7.2% from 2022 to 2032. Valued at US$ 55.5 Mn in 2021, the target market will likely reach an estimated US$ 57.9 Mn by 2022. Driven by elevated demand from the cosmetic and personal care industry, the mushroom packaging market will grow 2.1 times its current value, creating a growth opportunity of US$ 115.7 Mn by the end of 2032.
The mushroom packaging solutions are biodegradable in nature and the process is a blend of agriculture feedstock and the natural binding strength of mycelium. This packaging material is a sustainable and effective packaging method. Mushroom packaging ensures the safety and security of the product that is transported all over the world. This packaging material is not only biodegradable in nature but also compostable in soil within 45 days without any soil pollution or organism loss.
Eco-friendly or sustainable packaging that can be decomposed at home or in the industry with the mandated environmental conditions is categorized as compostable packaging. These kinds of packaging materials are made from plant-based raw material that is less toxic in nature. Hence, compostable packaging materials are prepared with mushrooms as mycelium is added to the cellulosic material and placed in the mold or tray, and then dried.
This dried part is thermal resistant, water resistant, and entirely compostable in nature. This has resulted in a heightened demand for convenient and disposable packaging which, in turn, has positively impacted the growth of the mushroom packaging market and will continue to do so during the forecast period.
“Rising adoption of biodegradable packaging materials which are convenient to use and dispose of will likely propel the global growth of the mushroom packaging market over the forecast period,” says an FMI analyst.
Key Takeaways:
By application, the cushioning segment will account for 47.0% of the overall market share.
Based on end-use, the cosmetics, and personal care segment will offer a growth opportunity of US$ 18.0 Mn during the assessment period.
The mushroom packaging industry in the United Kingdom will expand at a rate of 7.0% during the forecast period.
The U.S. mushroom packaging market is predicted to grow 1.8 times its current value.
Competitive Landscape
Ecovative Design LLC, Sealed Air Corporation, Magical Mushroom Company, Interpack, Mushroom® Packaging, Dell Technologies, Costa Group, CMP Mushroom, Shroom Labs, MANNOK, Steelcase, Poly Tech, Thermo Packer, Paradise Packaging Company, and UNO PLAST among others are some of the major players in the mushroom packaging market profiled in the full version of the report.
Leading market players are concentrating on increasing their capacities to meet the growing demand. These organizations are keen to adopt various organic and inorganic tactics like mergers, acquisitions, product development, and upgrading their facilities so as to increase their sales and revenue.
More Insights into Mushroom Packaging Market Report
In its latest report, FMI offers an unbiased analysis of the global mushroom packaging market, providing historical data from 2015 to 2020 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented on the basis of application (cushioning, bracing, void fill), end use (electronics and electrical, wine shippers, cosmetics & personal care, homecare, automotive components), and region.
According to the latest FMI reports, based on segmentation, the cushioning application segment will present considerable growth, accounting for 47.0% of the market share. Owing to several advantages of mycelium, cushioning application segment receives high demand, particularly from the electronics gadgets sector. In terms of end use, the cosmetics and personal care segment will offer many lucrative opportunities to the target market; resulting in an incremental opportunity of 18.0 Mn during the forecast period.
Based on region, the mushroom packaging industry in the United Kingdom will demonstrate substantial growth during 2022-2032. The advancing biodegradable packaging sector, the growing preference of consumers for sustainable packaging solutions, and the increasing demand for solutions to plastic pollution are fueling the growth of the mushroom packaging market in the U.K. In addition, the United States, too, will exhibit notable growth in the mushroom packaging market during the projected period.
Mushroom Packaging Market by Category
By Application, Mushroom Packaging Market is Segmented as:
Cushioning
Bracing
Void Fill
By End Use Industry, Mushroom Packaging Market is Segmented as:
Explore FMI’s Extensive Coverage on PackagingDomain:
FMCG Packaging Market Size: The global FMCG packaging market is expected to reach US$ 418.8 Bn in 2022, with sales growing at a CAGR of 5.7% through 2032.
Beverage Packaging Market Share: The global beverage packaging market is expected to secure US$ 156.7 Billion in 2032 while expanding at a CAGR of 4.1%. The market is likely to hold a value of US$ 104.8 Billion in 2022.
Biodegradable Packaging Market Trends: Biodegradable packaging market is set to enjoy a valuation of US$ 448.2 Bn in 2022, and further expand at a CAGR of 6.1% during 2022-2032.
Protective Packaging Market Value: The protective packaging Market demand remains positive with the market forecast to rise at a CAGR of 4.8% from 2021 – 2031.
Dairy Products Packaging Market Growth: The global dairy products packaging market is likely to progress at a CAGR of 4.5% between 2022 and 2030, reaching US$ 43.6 Bn by the year 2030.
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