Bioplastic Packaging Market Analysis with Industry Players like NatureWorks LLC, Arkema, Novamont S.p.A., BASF SE, Braskem, Corbion N.V.

The bioplastic packaging market is estimated to reach US$ 25,395.8 million by 2025 from US$ 4,399.7 million in 2017. Based on volume terms, global bioplastic packaging market is expected to grow at a CAGR of 18.1% during 2018 – 2025. The report include key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.

Emergence of novel bioplastic materials will drive the bioplastic packaging market by 2025 with a CAGR of 24.4%.

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Top Growth Factors:

Increasing awareness among customers about the adverse impact of conventional plastics, surge in need for sustainable packaging solution, and rising government support for the incorporation of bioplastic in packaging are few of the factors driving the global bioplastic packaging market. Currently, bioplastic is an alternative for nearly every conventional plastic material in diverse applications. Bioplastics offer innovative solutions with enhanced properties along with distinctive ability to reduce emissions and provide same qualities and functionalities as that of conventional plastic. However, relatively high cost associated with the use of bioplastic packaging materials may restrain the global market growth. Development of new technology and processes for the production of bioplastic material and the emergence of novel bioplastics are expected to deliver remarkable growth opportunities to the market players.

It is noted during the last few years that, conventional plastic packaging has adversely impacted to world’s water resources on a large scale. Thus, there is an increased inclination of industry players to replace conventional fossil-based plastic with plastic derived from biomass or other biodegradable resources. Bioplastics are manufactured using bio-based polymers derived majorly derived from plant based resources, along with animals or microbes. Moreover, customers are more aware about the adverse impact of conversional plastic on their lifestyle and environment. Thus, consumers are demanding for more environmentally friendly products which decrease the usage of petroleum and natural gas, thereby, reduce the carbon footprints.

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Market is currently dominated by Europe and North America, however, the market is expected to be in favor of Asia-Pacific, owing to the governments of several economies in the region have started taken initiatives for reducing the impact of plastic waste and are emphasizing the use of biodegradable and recyclable plastic.

Reasons to Buy:

• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Bioplastic Packaging market
• Highlights key business priorities in order to assist companies to realign their business strategies
• The key findings and recommendations highlight crucial progressive industry trends in the global Bioplastic Packaging market, thereby allowing players across the value chain to develop effective long-term strategies
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
• Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution

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Segment Overview:

Global Bioplastic Packaging Market– By Product

Starch Blends
Polylactic Acid
Polyethylene Terephthalate
Polyhydroxyalkanoates
Polyethylene
Others

Global Bioplastic Packaging Market– By Type

Rigid Packaging
Flexible Packaging

Global Bioplastic Packaging Market– By Application

Food & Beverages
Consumer Goods
Cosmetic & Personal Care
Pharmaceutical
Others

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This release was published on openPR.