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Bioplastic Packaging Market: Sustainability for All | Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024

10-09-2019 04:25 PM CET | Energy & Environment

Press release from: Transparency Market Research

/ PR Agency: TMR
Key players in the global bioplastic packaging market are BASF SE, Koninklijke DSM N.V., NatureWorks, LLC, Metabolix, Inc., and The Dow Chemical Company.

Bioplastics are primarily a biodegradable group of polymers that can be manufactured from renewable sources. Conventional plastics are increasingly becoming unpopular due to the fact that they can last for a very long time, can be hazardous to current life and the ecosystem in general, and rely heavily on the oil and gas industry for raw materials.

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Conventional plastics are used in nearly all industries as material for casings, electronics, packaging, and many other products. This high volume of products made out of materials that will not be degraded for centuries is creating a high level of concern, especially in developing economies, and emerging ones are swiftly following suit.

Nations, individuals, and private agencies are protesting very strongly against the large scale use of plastics, while promoting the use of biodegradable plastics, or bioplastics. Bioplastics can be manufactured from naturally occurring polymer chains in agricultural waste, potatoes, corn starch, and cellulose. These plastics are completely biodegradable, have a far shorter lifespan than conventional plastics, and are already in large scale use in healthcare and pharmaceuticals, packaging, textiles, and agriculture.

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Bioplastics have been developed to eliminate the problems caused by conventional plastics. Bioplastics are made from biodegradable feedstock, which means they can degrade into the soil like any other organic matter.

The global market for bioplastic packaging has been driven by the rising awareness among the global population about the adverse effects of conventional plastics, which has led to both consumers and regulatory bodies opt for bioplastics instead. Bio-PET and polylactic acid are the major types of bioplastics used for packaging around the world.

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Global Bioplastic Packaging Market: Drivers and Restraints

The major driver for the global bioplastic packaging market is the rising support given by governments encouraging the incorporation of bioplastics in place of conventional plastics. The net benefit to a country adopting bioplastics on a mass scale is prevention of the ecological damage that would have been caused by conventional plastics. Furthermore, this also removes the need for further resources to fix the damage.

The growing awareness among the general population about the ecological impact of their lifestyles is another key driver for the global bioplastic packaging market. Bioplastic packaging can, in fact, be used as a USP by packaging companies targeting environmentally conscious consumers.

Global Bioplastic Packaging Market: Geographical Overview

Europe is currently among the largest regional markets for bioplastic packaging. The EU has been supportive of several environmental protection initiatives and several countries in Europe have incentivized bioplastic packaging, driving the regional bioplastic packaging market.

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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

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