Press release
Bioplastic Packaging Market Projected to Discern Stable Expansion During 2024 - 2031 | Amcor Plc., Novamont S.p.A, NatureWorks
Market Overview:The global bioplastic packaging market is estimated to be valued at USD 9.46 Bn in 2024 and is expected to reach USD 21.30 Bn by 2031, growing at a compound annual growth rate (CAGR) of 12.3% from 2024 to 2031.
Market Dynamics:
The bioplastic packaging market is expected to witness significant growth owing to rising concerns for sustainable packaging among consumers and regulatory push for green packaging solutions. Government initiatives to promote use of bioplastics and ban on single-use plastic are also expected to support market growth during the forecast period. Furthermore, growing food packaging industry worldwide along with increasing awareness about environmental hazards of petroleum-based plastics is fueling the demand for bioplastic packaging solutions.
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Rising Environmental Concerns Around Plastic Pollution is Driving the Growth of the Bioplastic Packaging Market
As environmental concerns around single-use plastics continue to mount across the globe, bioplastic packaging is emerging as a more sustainable alternative to conventional plastics. Traditional plastics are derived from fossil fuels and take hundreds of years to degrade. In comparison, bioplastics are either biodegradable or compostable, breaking down into carbon dioxide, water, and biomass at a much faster rate. The environmental impact of plastic pollution from landfills and oceans has heightened awareness about the need for eco-friendly packaging solutions. Several countries and local governments have implemented bans or taxes on single-use plastic bags and bottles. Consumer preference is also steadily shifting towards products with bioplastic packaging due to their plant-based materials and compostable properties. Companies across industries are responding to this change in consumer sentiment by incorporating bioplastics in their packaging portfolio.
Growing Demand for Compostable Flexible Packaging Presents Lucrative Opportunities
While rigid bioplastic packaging for bottles and containers is an established segment, the market for flexible bioplastic films and pouches offers tremendous scope for growth. Flexible packaging finds wide application across industries for food, consumer goods, pharmaceuticals, and more. Currently, most flexible plastic packaging cannot be composted and ends up as waste. There exists sizable demand for home and industrial compostable flexible products made from bioplastics like PLA, PBAT, and starch blends. Leading companies are actively innovating compostable films, stand-up pouches, and laminates that can replace conventional multilayer flexible packaging. As sustainable packaging gains prominence, the flexible bioplastic segment expects to attract major investments and partnerships between material developers, brand owners, and machinery providers. Compostable flexible solutions address an important gap and present lucrative commercial opportunities.
Growing Adoption of Bio-Based Materials will Drive the Uptake of Biodegradable Bioplastics
A noteworthy trend emerging in the bioplastics industry is the increased focus on developing packaging resins and films based completely on renewable, plant-based raw materials rather than petroleum. Companies are investing in second and third-generation bio-based technologies that rely on agricultural residues, non-edible plants, and food waste to manufacture truly sustainable bioplastics. Governments and businesses also favor bio-based materials due to their significantly lower carbon footprint compared to fossil fuel-derived plastics. The availability of drop-in replacements for fossil-based polymers using biopolymers like PHA and PLA is enabling bioplastics to substitute conventional plastics across a broader range of applications. As bio-based technologies mature, the percentage of biodegradable bioplastics in the market is anticipated to multiply. This augurs well for enhancing bioplastics acceptance on a commercial scale and reducing dependence on petrochemicals for packaging.
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Top Companies Featured in This Report:
β Amcor Plc.
β Novamont S.p.A
β NatureWorks LLC.
β Coveris
β Sealed Air
β Alpha Packaging
β Constantia Flexibles
β Mondi
β Transcontinental Inc.
β ALPLA
β Nature's Bio Plastic
β Raepak Ltd.
β Biogreen Packaging Pvt. Ltd.
β Tetra Pak International SA
β Tipa-corp Ltd.
β Treemera GmbH
β Element Packaging Ltd
β Alpagro Packaging
Market Segmentation:
By Product Type:
β By Material: Biodegradable (Polylactic Acid, Starch Blends, Polybutylene Adipate Terephthalate (PBAT), Polybutylene Succinate (PBS), Others), and Non-biodegradable (Bio Polyethylene, Bio Polyethylene Terephthalate, Bio Polyamide, Others
β By Type : Rigid and Flexible
By Applications:
β By Application: Food & Beverages , Consumer Goods , Pharmaceutical , Industrial Goods , and Others
Key Regions/Countries Classified as Follows:
Β» North America (U.S., Canada, Mexico)
Β» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
Β» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
Β» South America (Brazil, Argentina, Rest of SA)
Β» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
Trends in Navigation Keyword Market:
Increasing Demand: Notice a surge in demand for navigation keywords due to the widespread adoption of GPS-enabled devices and the need for precise mapping data.
Technological Innovations: Witness innovative breakthroughs enhancing the accuracy and reliability of navigation keywords, such as real-time traffic updates, 3D mapping, and augmented reality.
Tailored Solutions: Explore industry-specific navigation keyword solutions designed to meet the unique needs of automotive, aviation, and maritime sectors.
Integration with Advanced Technologies: Embrace the integration of navigation keywords with cutting-edge technologies like artificial intelligence and the Internet of Things, unlocking advanced functionalities.
Mobile Applications: Embrace the convenience and accessibility of navigation keywords through mobile applications, catering to the evolving needs of consumers.
Environmental Sustainability: Embrace environmentally conscious navigation keyword solutions that address issues like traffic congestion and air quality, promoting sustainable transportation options.
Report Highlights:
π Examination of navigation keyword market share at both country and regional levels
π Thorough analysis of the competitive landscape and emerging trends
π Detailed review of product advancements, technological developments, drivers, and limitations
π Strategic recommendations tailored for key business segments based on market insights
π Valuable guidance for newcomers venturing into the navigation keyword market
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Author Bio:
Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights.
(LinkedIn: https://www.linkedin.com/in/alice-mutum-3b247b137 )
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