Bioplastic Packaging Market is Growing at CAGR of 24.4% by 2027| NatureWorks LLC, Arkema, Novamont S.p.A., Braskem, Corbion, Cardia Bioplastic Packaging, Evonik Industries, Koninklijke DSM

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.

Bioplastic Packaging market is expected to grow US$ 25,395.8 million by 2025 from US$ 4,399.7 million in 2017. By volume, the global bioplastic packaging is expected to reach 3,953.0 thousand tons by 2025.

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.

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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.

Major Key Vendors: 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.

Key Benefits-
- To provide detailed information regarding the major factors (drivers, restraints, opportunities, challenges, and trends) influencing the growth of the global Contract Life-Cycle Management (CLM) Market
- To forecast the size of the market segments with respect to four major regional segments, namely, North America, Europe, Asia Pacific, and the Rest of the World (Latin America and the Middle East & Africa)

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.

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The report focuses on in-depth segmentation of bioplastic packaging market by product, type, application, and regions. The geographic segmentation of this report covers five major regions including; North Americas, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America (SA). The regional market on bioplastic packaging has been further bifurcated by respective countries. On the basis of product, starch blends accounted for the largest market share of the bioplastic packaging market in 2017 in terms of revenue and volume. Starch blends are the most common biomass source used for deriving bioplastics and it is a natural polymer that can be combined with several materials.

Reason 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 bioplastic packaging Market, thereby allowing players 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 products, segmentation and industry verticals.

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This release was published on openPR.