Global Bioplastics Packaging Market Overview:
The Bioplastics refer to plastics produced under the action of microorganisms based on natural substances such as starch. It is renewable and, therefore, very environmentally friendly. Due to its good degradability, biodegradable plastics are mainly used as food soft and hard packaging materials, which is also its largest application area at this stage. Bioplastics are used to reduce plastics’ oil consumption, and biodegradable plastics can promote the slow recycling of plastics. It does not contain toxic substances such as polyvinyl chloride and phthalate. The health effects of these toxins have been widely concerned.
Global Bioplastics Packaging Market Insights
The global bioplastics
packaging market likely to grow at a CAGR of over 37.6 % during the forecast period, 2020-2027. The growth of the market is driven by increasing consumer awareness towards eco-friendly products and shifting preference towards eco-friendly substitutes. Additionally, governments’ increasing support encouraging the incorporation of bioplastics in place of conventional plastics is expected to witness remarkable growth in the market. Further, the rising consumer preference for organic and natural polymers in food packaging will spur the growth of global bioplastics packaging market size in the future periods. The growing awareness regarding the adverse effects of conventional plastics, which has steered consumers and regulatory bodies to opt for bioplastics in place of conventional plastic, is anticipated to enhance the bioplastics packaging demand. Moreover, the surge in awareness about sustainable packaging among the consumers and abundant availability of raw material in emerging economies will propel the global bioplastics packaging industry in the coming years. Furthermore, the rapid urbanization and industrialization, demand for packaging will complement the industry growth. The rising awareness among the consumers for the ecological impact of their lifestyles will foster the growth of global bioplastics packaging market share in the analysis periods. The shifting of consumers’ preferences for organic materials and government initiatives enacted in various countries promotes the production of bioplastics over that of plastic materials and hazardous polymer are slated to impact the growth of the bioplastics packaging market. The increasing demand for eco-friendly, advanced, and effective packaging in emerging countries will boost the bioplastics packaging market
in the forecast span.
Growing awareness about the advantages of bioplastics packaging
As people’s environmental awareness grows, environmentally friendly degradable materials are prevalent. The various country has issued corresponding plastic purchase ecological protection policies to control environmental pollution while encouraging people to save energy, protect the environment, and reduce emissions. The increased awareness of environmental protection has allowed manufacturers to see biodegradable plastics opportunities in the packaging market. The demand for biodegradable packaging in the field of food packaging is snowballing. Food packaging is the largest end market for biodegradable packaging.
Type Segmental Analysis
Based on the type, the global bioplastics packaging market classified into Bio-PET, Poly Lactic Acid (PLA), PBS, Bio-PP, and Others. The Bio-PET segment is expected to be the highest revenue share for the bioplastics packaging market during the forecast period. The segment’s growth is primarily attributed to the extensive use of Bio-PET in bottling and packaging industries and possesses similar properties to conventional PET. Poly Lactic Acid (PLA) will witness a worthwhile growth rate in the estimated period due to ease of process ability and its superior mechanical properties.
Application Segmental Analysis
Based on the application, the global bioplastics packaging market segmented into plastic bottles, packaging, and others. The packaging segment is estimated to witness significant growth over the analysis timeframe due to the growing demand for bioplastics in the packaging industry for food packaging, pharmaceutical packaging, and goods packaging. The plastic bottles will grow at a significant rate during the forecast period because governments around the world are emphasizing biodegradable and bioplastics packaging materials. The use of bioplastics will also reduce the synthesis problem.
End-User Industry Segmental Analysis
Based on the end-user industry, the global bioplastics packaging market segmented into food and beverages, consumer goods, pharmaceutical, and others. The food and beverage segment will dominate the global bioplastics packaging market by 2027. Due to the food products and beverage manufactures continue to adopt the most suitable packaging mechanism such as bioplastics packaging attributable to the several advantages that it endures and promotes the zero-waste sustainability initiative. The consumer goods accounted for the largest share of the bioplastics packaging market in 2019 on account of the growing application of bioplastics packaging in cosmetics products packaging and textile products.
Region Segmental Analysis
By geography, the global bioplastics packaging market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. Europe estimated to project considerable growth over 2020-2026. This is due to the high adoption of green packaging solutions, the popularity of sustainable packaging in the manufacturing industry, and the stringent governing framework for synthetic polymers. North America will capture a prominent share of the bioplastics packaging market by 2027. Due to health and environmentally conscious consumers, the presence of high-income populations, and numerous environmental protection initiatives.
Companies such BASF SE, Dow Chemical Company, Koninklijke DSM N.V., Eastman Chemical Company, IFS chemicals, NatureWorks LLC, Arkema Group, Metabolix Inc., Novamont S.p.A., Albis Plastics, Innovia Films, Biome Bioplastics Limited., FKuR Kunststoff, Grace Biotech, and DaniMer Scientific LLC are the key players in the global bioplastics packaging market.
- Market research and consulting firms
- Industry associations
- Global bioplastics packaging manufacturing firm
- Research organizations and consulting companies
- Organizations, associations, and alliances related to bioplastics packaging
- Regulatory bodies
The objective of the Research
- Market modeling starts with identifying a target market where historical data exists. A Market can include prediction problems, economic factors, analyzing customer behavior, and identifying new patterns from past events, which helps our client to have deep dive into the market.
- Product analysis involves steps such as examining product features, costs, availability, quality, and other aspects. Product analysis is conducted to understand potential buyers and measure competition in the market.
- Market Trend and Economic Factors Analysis helps in assessing potential changes to an economy’s inflation rate, taxes, interest rates, exchange rates, trading regulations, and excise duties that can or have a major effect on the target market.
- Market Segmental Analysis defines in-depth scenario of the target market by the process of grouping consumers into naturally existing created segments of consumers who share similar product preferences or characteristics
- The geographical mapping approach helps our clients to understand national or international markets because different consumers in different regions have different needs wants, and cultural characteristics that can be specifically targeted.
Market Modelling By Type
- Poly Lactic Acid (PLA)
By End-User Industry
- Plastic Bottles
- Food and Beverages
- Consumer Goods
- North America
- Asia Pacific
- South America
- Middle East & Africa