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Bioplastic Packaging Market Trends, Demand, Growth, Opportunities and Key Manufacturers Forecast to 2025| Key Players NatureWorks, Arkema, Novamont, Braskem, Corbion

03-13-2019 09:47 AM CET | Industry, Real Estate & Construction

Press release from: The Insight Partners

Bioplastic Packaging Market

Bioplastic Packaging Market

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.

Few of the key players profiled in the bioplastic packaging market report are NatureWorks LLC, Arkema, Novamont S.p.A., BASF SE, Braskem, Corbion N.V., Cardia Bioplastic Packaging, Evonik Industries AG, Koninklijke DSM N.V., and Dow Chemical Company among others.

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The demand for bioplastic packaging is largely influenced by a number of factors mainly due to increasing awareness among customers about the adverse impact of conventional plastics, rising government support for the incorporation of bioplastic in packaging, and surge in need for sustainable packaging solution.

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.

On the basis of types, the rigid packaging is the dominant sector rigid packaging is implemented by manufacturers of cosmetic goods, as well as beverage bottles among others. Materials including bio-PE, PLA or bio-PET are commonly used in rigid bioplastic packaging. Several globally recognized brands such as Vittel, Coca-Cola, Volvic and Heinz provide their products (fluids and drinks) in bio-PET bottles. Further, Johnson & Johnson and Procter & Gamble have also started using bio-PE to package their goods. The adoption of PLA, being a potentially recyclable material, is gaining pace in the bioplastic rigid packaging market. On the basis of application, the bioplastic packaging market is dominated by food & beverages segment with the use of rigid and flexible packaging. Rigid packaging in F&B industry includes packaging of PET bottles for water, sold, juices and milk. Starch and PLA are commonly used as biodegradable materials used for packaging in the F&B industry. In August 2018, Iceland Foods Ltd., a U.K. based supermarket chain announced its plans to eliminate the use of plastic packaging by 2023. This is expected to impact several F&B suppliers to move towards bioplastic packaging.

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Healthcare, Manufacturing, Automotive and Defense.

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