Rising Demand in Bioplastic Packaging Market By 2020: Key Players Braskem S.A., Arkema Group, The Dow Chemical Company

The research report by The Insight Partners, titled, “Bioplastic Packaging Market”, offers a comprehensive analysis of key growth drivers, key segments, development strategies, market opportunities, and competitive landscape. This study offers detailed insights for market players, investors, stakeholders, and new entrants to understand the industry dynamics and determine strategic steps to gain a competitive advantage.

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The growth in the Asia Pacific region is highly attributed to factors such as banning the usage of plastic bags in 2009 and 2011. Other countries in the region that have taxes or bans in place include Cambodia, Bangladesh, Hong Kong, Indonesia, India, Taiwan, and Malaysia among others.

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 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 industry.

The global bioplastic packaging market has been segmented based on end-user, i.e., blends, polylactic acid, polyethylene terephthalate, polyhydroxyalkanoates, polyethylene, and others. The physical, as well as chemical properties of bioplastic materials, differs from each other based on flexibility, durability, water and heat resistance, and biodegradability among others. Appropriate selection of material is thus significant for the manufacturing companies to compete effectively by attaining consumer satisfaction, sustainability, and meeting stringent government regulations. This bioplastic is used in a range of packaging application.

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Key findings of the study:

Europe is anticipated to account the largest market share of bioplastic packaging market and is expected to register a CAGR of 23.5%
Based on the packaging type, the flexible packaging segment is expected to witness high year on year growth during the forecast period
Countries such as China, Japan, and ASEAN countries are witnessing high demand for bioplastic packaging due to the increasing government initiatives to ban plastics.
North America accounts for the second largest market share of bioplastic packaging market. In April 2018, the Governor of New York introduced a bill to ban single-use plastic bags in retail and grocery stores by next year. Several cities in the U.S., have banned the use of plastic bags including, Chicago Seattle, Boston, Los Angeles, Austin, and San Francisco. Also, few cities such as Washington, Brownsville, and Portland have imposed fees on plastic bags.

The key companies profiled in this report include Braskem S.A., Arkema Group, The Dow Chemical Company, BASF SE, Cardia Bioplastics, Corbion N.V., Evonik Industries AG, Koninklijke DSM N.V., NatureWorks LLC, and Novamont S.p.A.
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Major Features of Bioplastic Packaging Market Report:
• 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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