The Global Bioplastic Packaging Market is expected to grow at a high CAGR during the forecasting period (2022-2029).
The key factors driving the market include favorable government policies and regulations, rising focus on bio-based content rather than biodegradability, and growing health concerns. However, the high production cost of bioplastic packaging is restraining the growth of the market.
The global market for Bioplastic Packaging is broadly segmented by product type as – Bio-PE, Bio-PET, Regenerated Cellulose, Poly Hydroxyalkonoates.
Bio-PET has the largest market share in the global bioplastic packaging market due to growing manufacturing activities of the food container, bottles, bags, and carry-away cups. Increasing demand for eco-friendly plastic products for packaging is leading to the growth of this segment.
By applications, the market is segmented into Food & Beverages, Pharmaceutical, Industrial Products, Consumer Products, and Others. Food & beverages are the leading application segment in the global bioplastics packaging market, with increasing demand for food and beverage products globally.
The global Bioplastic Packaging market is segmented into North America, Europe, Asia Pacific, South America, and ROW.
Europe is dominating the global bioplastic packaging market with more than 30% of market share due to supportive government policies in Europe that include the Europe 2020 strategy that supports bio-economy inspiring public authorities to give preference towards procurement of bio-based products and allowing member states to reduce taxes for bio-based products.
The Asia Pacific is the fastest-growing market with growing packaging industries in developing countries such as India and China.
The market has a highly competitive environment with continuous product and technological developments. The players are also focusing on strategic collaborations and agreements to expand their geographic footprint to intensify market competitiveness.
Some of the recent developments contributing to the growth of the global Bioplastic Packaging Market are:
In May 2018, DUPONT and ADM have announced the opening of a bioplastic pilot plant, the world’s first production facility in the US for bio-based furan dicarboxylic methyl ester (FDME), which can be used to make a lightweight plastic.
In April 2018, BioLogiQ, Inc., a bioplastic resin manufacturing company has launched three new grades of its plant-based plastic, NuPlastiQ® BioPolymers for packaging, durable goods, foodservice, and other packaging applications.
Few of the key players in the global Bio-plastic packaging market include BASF SE (Badische Anilin- und Soda-Fabrik), Natureworks LLC, Braskem S.A., Innovia Films, Ltd, Koninklijke DSM N.V, Novamont S.P.A, Biome Technologies PLC, The Dow Chemical Company (Dow), Bio-On S.P.A., and Metabolix Inc.
• Europe is dominating the global bioplastic packaging market with more than 30% of the market share due to supportive government policies in this region.
• Bio-PET has the largest market share of the global bioplastic packaging market due to growing applications for the manufacturing of products such as bottles, food containers, bags, and carry-away cups.
• Favorable government policies and regulations, rising focus on bio-based content rather than biodegradability and growing health concerns are driving the growth of the market.
The report covers epidemiology analysis of critical infectious diseases, the factors impacting the market, Porter 5 Forces, Market Share Analysis, Product Benchmarking, and company profiles.
The bioplastic packaging market is segmented on the raw material as Bio-Polyethylene (PE), Bio-Polyethylene terephthalate (PET), Regenerated Cellulose, Poly Hydroxyalkonoates (PHA), Polylactic acid (PLA), Starch Blends, and Others. Based on packaging type, the market is segmented into flexible and rigid packaging.
The market is further segmented into Food & Beverages, Pharmaceutical, Industrial Products, Consumer Products, and Others. Based on geography the market is segmented into – North America, South America, Europe, Asia-Pacific, and RoW.
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