Report : Biopolymer Packaging Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Material Type (Polylactides (PLA), Bio-Polyethylene (PE), Bio-Polyethylene Terephthalate(PET), Starch, Cellulose, PBAT, Polyhydroxyalkanoates (PHA), Polybutylene succinate (PBS), Others), End User (Food and Beverages, Cosmetic and Personal Care, Pharmaceutical, Others), and Geography
Increasing awareness among customers about the adverse impact of conventional plastics is projected to escalate biopolymer packaging market growth at a CAGR of 19.1%
Latest market study on "Global Biopolymer Packaging Market to 2027 – COVID 19 Impact and Global Analysis - By Material Type (Polylactides (PLA), Bio-Polyethylene (PE), Bio-Polyethylene Terephthalate (PET), Starch, Cellulose, PBAT, Polyhydroxyalkanoates (PHA), Poly(butylene succinate) (PBS), Others); End-User (Food and Beverages, Cosmetic and Personal Care, Pharmaceutical, Others), and Geography" the market was valued at US$ 7,872.54 million in 2018 and is expected to grow at a CAGR of 19.1% during 2019–2027 to reach US$ 37,465.07 million by 2027. The report highlights key driving factors and also the prominent players and their developments in the market.
Biopolymers are perceived as renewable, sustainable, and carbon neutral form of materials which are produced from renewable plant materials. Bio based polymers are considered to be an effective alternative to the conventional polymers and are being increasingly used in packaging industry to produce environment-friendly materials. Consumer awareness regarding impact of conventional plastic, stringent government regulations, and need for sustainable packaging solutions are a few factors driving the global biopolymers packaging market. The majority of biopolymers do not biodegrade, still they are preferred as they are formulated using bio-based resources and can be recycled.
The customers are now more aware of the adverse impact of conventional plastic on their lifestyle. Thus, consumers are demanding environment-friendly products, which decrease the usage of petroleum and natural gas, which reduces the carbon footprints. Currently, bioplastic and biopolymers are an alternative for nearly every conventional plastic material in diverse applications. Biopolymers 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. This biodegradable packaging material is made using renewable resources as well as fossil raw materials such as cellulose ester, PLA, PHA, starch derivatives, copolyesters like PBS and PBAT.
Arkema Group, BASF SE, Biome Bioplastics Limited, Cardia Bioplastics, Innovia Films, NatureWorks LLC, Plantic Technologies Limited, Spectra packaging ltd., United Biopolymers, S.A., The Dow Chemical Company, and BEWiSynbra Group are some of the well-established companies in the global biopolymer packaging market.
The Report Segments the Global Biopolymer Packaging Market as Follows: