In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.
Packaging is performing crucial role in each product life. Every new day when you buy a product it comes inside the packing of plastic, foils, films or in polystyrene. But now the era is transformed into natural, biodegradable packaging available in the market with the source called mushroom packaging.
Ecovative Design is the first company to innovate mushroom packaging in 2010. The packaging material is grown using fungi cultured on a medium of husks and biomass of different agricultural wastes such as rice, soy and cotton to be used as substrate to which the fungal mycelium is added. Throughout the growth cycle the mycelium secretes enzymes which decompose the waste to convert it into a structured and cohesive product that are not harmful to the environment like plastic polybags and films, plastic also create depletion in fossil fuel and also damages people health.
Mushroom Packing Market comprises of packaging material which is made up of agriculture waste and mushroom root that further reduces energy track with disinfecting technology. For instance, Ecovative succeeded in creating cost-effective mushroom packaging as compared to traditionally used Styrofoam (polystyrene) mushroom packaging.
Global Mushroom Packaging market is predicted to reach the expectation with prominent figure by 2027 at the CAGR 16.28%. The Base year is considered here is 2017 mushroom market report, and the forecast period is 2018-2027. The market of mushroom packaging is projected to reach at a notable valuation by the end of forecast period. The growth of the mushroom packaging market is driven by factors such as the necessity to safeguard the society as well as nearby areas that are rapidly evolving into threats; increasing consumer awareness and increasing adoption of sustainable and biodegradable packaging.
Get more information on this report: Download Sample PDF
Our-in depth analysis of the global security solution market includes the following segments:
Global Mushroom Packing market is further classified on the basis of region as follows:
Mounting sale of Mushroom Packing market across the globe gives a commendable impression about the people’s mind and their buying behavior. There is and increasing demand for ecofriendly and natural solutions among customers which has led to a requirement for innovative development of of ecofriendly and natural solutions to cater to this rising demand. Mushroom packaging is potable, convenient, ecofriendly and sustainable for future market growth. Handling and packaging is the main factor defining the market growth of the ecofriendly customer. It also can be used as the alternative of plastic bags and polypropylenes. In near future demand for mushroom packing will rise and leave a blameless impression.
Furthermore, new generation prefers innovative product packaging which would lead to positive impact on the mushroom packaging market in the future. Mushroom packaging is a prodigious option offered in the market which is easy to use and dispose. In addition, this packaging has extraordinary performance skillset as compared to other packaging methods and is projected to drive market growth in future. All these reasons are anticipated to augment the mushroom packaging market in future.