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Compostable Plastic Packaging Market Volume Analysis, Segments, Value Share and Key Trends 2017 - 2027
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Global compostable plastic packaging: Market Dynamics
Compostable plastic packaging market is vastly driven by increasing food & beverage, pharmaceuticals, and electrical & electronics industries. Also, increasing consumer preference towards sustainable and eco-friendly packaging solutions resulting in the adoption of compostable plastic packaging solutions. For instance- Snact, a social enterprise brand, has rolled out fruit jerky in fully compostable packaging that decomposes within 180 days. Increased traction of compostable plastic packaging in humid regions for protecting against rain, moisture and other liquid contents is expected to propel the demand for compostable plastic packaging market. The key properties of compostable plastic packaging are that they prevent the static charge from getting accumulated on the surface on the packaging, thus keeping the inside electro-static product safe. Compostable plastic packaging reduces the amount of petroleum-based material as compared to conventional plastic packaging solutions. Compostable plastic packaging has improved barrier properties such as moisture, dust, etc. as compared to alternative plastic packaging solutions. Also, increasing number of supermarkets, hypermarkets etc. have resulted in the accentuating demand of compostable plastic packaging.
Despite the favourable conditions for the growth of compostable plastic packaging market, there are certain factors that hinder the market growth such as high cost of compostable plastic packaging as compared to conventional plastic packaging solutions due to low prices of crude oil and petroleum. Moreover, the compostable plastic packaging is not preferred packaging solutions among small and medium scale enterprises thus, hindering the market share of compostable plastic packaging.
Global compostable plastic packaging: Market Segmentation
Compostable plastic packaging market is segmented on the basis of material type, product type and end-users.
On the basis of material type segment, compostable plastic packaging market is segmented into
Starch-based polymers
Corn-starch (blended with bio-degradable polyesters)
Potato starch (blended with bio-degradable polyesters)
Wheat starch (blended with bio-degradable polyesters)
Cellulose-based polymers
Wood-fibre
Polylactic acid (PLA)
On the basis of product type segment, compostable plastic packaging market is segmented into
Bags
Open bags
Zipper bags
Gusseted bags
Others
Boxes
Pouches
Others
On the basis of end-users segment, compostable plastic market is segmented into
Food & Beverages
Pharmaceuticals
Agriculture
Household
Others
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Global compostable plastic packaging: Regional Outlook
Compostable plastic packaging market has been segmented on the basis of the region into North America, Europe, Asia Pacific, Middle East & Africa (MEA), and Latin America. North America is expected to be the most dominant region regarding volume in compostable plastic packaging market over the forecast period. APAC region is anticipated to be the fastest growing region over the forecast period. MEA region is expected to be the least dominant region due to a stagnant economy.
Global compostable plastic packaging: Key Players
Some of the key players in the field of compostable plastic packaging market are Tipa Corp. Ltd, Novamont S.p.A., Cardia Bioplastics, Plantic Technologies, Innovia Films, NatureWorks LLC, and BASF SE.
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