Bioplastic Packaging Market to grow at a CAGR of 24.4%, Globally 2027: Braskem, Arkema Group, The Dow Chemical Company, BASF SE, Cardia Bioplastics, Corbion

The global Bioplastic Packaging market accounted for US$ 4,399.7 Mn in 2017 and is expected to grow at a CAGR of 24.4% during the forecast period 2018 - 2025, to account for US$ 25,395.8 Mn in 2025.

The global bioplastic packaging market is experiencing a high growth owing to 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. Moreover, the development of new technology and processes and the emergence of novel bioplastic materials are expected to the bioplastic packaging market growth during the forecast period. Bioplastics are influencing the plastic industry with innovation for more sustainability, functionality, and efficiency. Currently, bioplastic alternatives are available for almost all the conventional plastic material and respective applications which is driving the bioplastic packaging market.

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The List of Companies

• NatureWorks LLC
• Arkema
• Novamont S.p.A.
• BASF SE
• Braskem
• Corbion N.V.
• Cardia Bioplastic Packaging
• Evonik Industries AG
• Koninklijke DSM N.V.
• Dow Chemical Company

Today, customers are more aware of the adverse impact of conventional plastic on their lifestyle. Thus, consumers are demanding for more environmentally friendly products which decrease the use of petroleum and natural gas, thereby, reduce the carbon footprints. 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 the same qualities and functionalities as that of conventional plastic. These biodegradable packaging materials are made using renewable resources as well as fossil raw materials such as cellulose ester, PLA, PHA, starch derivatives, copolyesters like PBS and PBAT, etc.

Plastic packaging is extensively used in the range of application such as FMCG, food & beverages, pharmaceutical, consumer goods, etc. This increased use of plastic in several application is responsible for rising plastic pollution. Thus, recycling and reuse of plastic are becoming foremost important for innovation and sustainability. Moreover, conventional plastic is expected to become more expensive in the future with diminishing raw material sources. During the last few years, bioplastic has influenced the plastic industry through innovation for more resource efficiency, functionality, and sustainability. Bioplastic is playing a significant role to increase recycling targets and waste management by substituting petroleum resources with renewable resources. Bioplastics are manufactured using renewable plant-based resources which offer low toxicity, better recyclability, and high bio-degradability.

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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This release was published on openPR.