Global Bioplastic Packaging Market is accounted to US$ 4,399.7 Mn in 2017 and is estimated to reach US$ 25,395.8 Mn by 2025
Published Date : 17/08/2018
Emergence of novel bioplastic materials will drive the bioplastic packaging market by 2025 with a CAGR of 24.4%.
Latest market study on “Bioplastic Packaging Market to 2025 by Product (Starch Blends, Polylactic Acid, Polyethylene Terephthalate, Polyhydroxyalkanoates, and Polyethylene), Type (Rigid Packaging and Flexible Packaging), and Application (Food & Beverages, Consumer Goods, Cosmetic & Personal Care, and Pharmaceutical) – Global Analysis and Forecast”, the bioplastic packaging market is estimated to reach US$ 25,395.8 million by 2025 from US$ 4,399.7 million in 2017. Based on volume terms, global bioplastic packaging market is expected to grow at a CAGR of 18.1% during 2018 – 2025. The report include key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.
It is noted during the last few years that, conventional plastic packaging has adversely impacted to world’s water resources on a large scale. Thus, there is an increased inclination of industry players to replace conventional fossil-based plastic with plastic derived from biomass or other biodegradable resources. Bioplastics are manufactured using bio-based polymers derived majorly derived from plant based resources, along with animals or microbes. Moreover, customers are more aware about the adverse impact of conversional plastic on their lifestyle and environment. Thus, consumers are demanding for more environmentally friendly products which decrease the usage of petroleum and natural gas, thereby, reduce the carbon footprints.
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 are few of the factors driving the global bioplastic packaging market. 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 same qualities and functionalities as that of conventional plastic. However, relatively high cost associated with the use of bioplastic packaging materials may restrain the global market growth. Development of new technology and processes for the production of bioplastic material and the emergence of novel bioplastics are expected to deliver remarkable growth opportunities to the market players.
The global bioplastic packaging market by geography is segmented into five regions including North America, Europe, Asia Pacific, Middle East & Africa and South America. Market is currently dominated by Europe and North America, however, the market is expected to be in favor of Asia-Pacific, owing to the governments of several economies in the region have started taken initiatives for reducing the impact of plastic waste and are emphasizing the use of biodegradable and recyclable plastic. Few of the key players profiled in the report are NatureWorks LLC, Arkema, Novamont S.p.A., BASF SE, Braskem, Corbion N.V., Cardia Bioplastic Packaging, Evonik Industries AG, Koninklijke DSM N.V., and Dow Chemical Company among others.
The report segments the global bioplastic packaging market as follows:
Global Bioplastic Packaging Market– By Product
Global Bioplastic Packaging Market– By Type
Global Bioplastic Packaging Market– By Application
Food & Beverages
Cosmetic & Personal Care
Global Bioplastic Packaging Market– By Geography
Rest of Europe
Asia Pacific (APAC)
Rest of APAC
Middle East & Africa (MEA)
Rest of MEA
South America (SAM)
Rest of SAM
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