Press release
Bioplastic Packaging Market Outlook 2027 - Worldwide Industry Leading Players are Braskem S.A., Arkema Group, The Dow Chemical Company, BASF SE, Cardia Bioplastics, Corbion N.V.
Bioplastic Packaging Market
The Covid-19 (coronavirus) pandemic is impacting society and the overall economy across the world. The impact of this pandemic is growing day by day as well as affecting the supply chain. The COVID-19 crisis is creating uncertainty in the stock market, massive slowing of supply chain, falling business confidence, and increasing panic among the customer segments. The overall effect of the pandemic is impacting the production process of several industries including Chemicals and Materials, and many more. Trade barriers are further restraining the demand- supply outlook. As government of different regions have already announced total lockdown and temporarily shutdown of industries, the overall production process being adversely affected; thus, hinder the overall Bioplastic Packaging market globally. This report on 'Bioplastic Packaging Market' provides the analysis on impact on Covid-19 on various business segments and country markets. The report also showcase market trends and forecast to 2027, factoring the impact of Covid -19 Situation.
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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.
Increasing awareness among customers about the adverse impact of conventional plastics
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.
A factor which can be a restraint for Bioplastic Packaging can be some companies do not collaborate with service providers or they don't take advantage of digitization as they don't have awareness for the same. Nevertheless, digitization in services is opting by an online company to know more exactly about consumer behavior plus it makes business policies flexible to adopt changes as per the market condition on which success and growth of an organization depend which will give more growth opportunities in coming years.
Bioplastic Packaging Market - key companies profiled
o Braskem S.A.
o Arkema Group
o The Dow Chemical Company
o BASF SE
o Cardia Bioplastics
o Corbion N.V.
o Evonik Industries AG
o Koninklijke DSM N.V.
o NatureWorks LLC
o Novamont S.p.A.
North America and Western Europe have been one of the key regions with technological advancements in Food, chemical and manufacturing sector. Factors like the use of advanced technology and presence of global companies to cater the potential end users are favorable for the growth of Bioplastic Packaging market. Also, most of the leading companies have headquarters in these regions.
Bioplastic Packaging Market Strategic Insights
The new development was observed as the most adopted strategy in global Bioplastic Packaging market. Few of the recent strategies by some of the players in the Bioplastic Packaging market landscape are listed below-
o 2018: Novamont S.p.A. launched the compostable and biodegradable Cuki Gelo bag made of Mater-Bi at Marca 2018. This product launch was a result of a strategic partnership between Cuki and Novamont S.p.A.
o 2018: Arkema introduced a new project to manufacture polyamide 12 in China to increase by 25% its capacity of polyamide 12 polymers production so as to support its customers' strong demand in Asia.
o 2018: The Dow Chemical Company launched recyclable polyethylene packaging solution in India in order to implement its new solution to support people in India meet regulations about the reduction of usage of multi-polymer plastics to save the environment.
Asia Pacific is estimated to be one of the fastest growing markets for Bioplastic Packaging market. Major countries in the Asia Pacific region are China, Japan, South Korea, India and Australia. These economies in the APAC region are major contributors in the ICT, electronics & semiconductor sector. In addition to this, government initiatives to promote technological advancement in this region are also one of the key factors to the growth of Bioplastic Packaging market. Middle East and rest of the World are estimated to be emerging regions for Bioplastic Packaging market.
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Chapter Details of Bioplastic Packaging Market:
Part 01: Executive Summary
Part 02: Scope of The Report
Part 03: Bioplastic Packaging Market Landscape
Part 04: Bioplastic Packaging Market Sizing
Part 05: Bioplastic Packaging Market Segmentation by Product
Part 06: Five Forces Analysis
Part 07: Customer Landscape
Part 08: Geographic Landscape
Part 09: Decision Framework
Part 10: Drivers and Challenges
Part 11: Market Trends
Part 12: Vendor Landscape
Part 13: Vendor Analysis
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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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