Press release
Biodegradable Packaging Materials Market: Rise in Awareness for Eco-friendly Products Boosts Industry Growth | Major Players are Biopac, NatureWorks, BASF SE, Kruger, and Mondi Group
Bioplastics are materials that usually exhibit biodegradable properties or are made from materials that have plant based origins. Few bioplastics may have both these properties. However, not all bioplastics are biodegradable, and hence there is a thin line between which bioplastics should be used in the form of packaging materials.With a rising awareness for using biodegradable materials in order to decrease the effects of plastic pollution on the environment, bioplastics are now finding several applications. A prominent one of these involves the bioplastics to be used in the form of packaging materials.
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Companies mentioned in the report
The study offers an elaborate assessment of the competitive dynamics, which includes key strategies adopted by various players to either gain a better foothold in the market or to consolidate their shares.
Key players operating in the global biodegradable packaging market include Biopac, NatureWorks LLC, BASF SE, Kruger Inc., Mondi Group, and Clearwater Paper Corporation.
Several players are focusing on introducing new biodegradable packaging solutions that have better mechanical and thermal properties.
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Which are the most prominent driving factors for the global bioplastics packaging market?
Similar to the statement made above, there has been a growing awareness amongst the masses to use eco-friendly products that can help mitigate the negative effects caused on the environment. Rapid rise in the focus put by several packaging sector businesses to use sustainable materials for packing goods is another prominent driving agent for the market. The decline in the use of loose bags, especially the thicker ones, has also prompted the increased use of bioplastic packing materials.
What are the prime restraints affecting the global biodegradable packaging materials market?
Manufacturing the bioplastic packaging materials has always been substantially complicated, thus being a significant obstacle to the growth of the biodegradable packaging market. The increasing production of crude oil and natural gas, especially in the Middle East and Russia, is also expected to be a hindrance to the overall growth of the market.
The biodegradable plastics often are highly costly, thus proving to be unfeasible for production and utilization. However, with newer varieties of the bioplastics soon to be unveiled, most of these obstacles will have their effects decreased in the future.
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How is the biodegradable packaging materials market segmented?
The biodegradable packaging market is mainly divided into several segments based on four criteria: end use industry, material type, product type, regional spread.
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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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