The global bioplastic packaging market size is expected to reach USD 50.57 billion by 2030, according to a new report by Grand View Research, Inc., expanding at a CAGR of 16.9% from 2022 to 2030. The growth of the global plastics packaging industry is likely to be driven by the increasing consumption of plastics in packaging food, beverages, cosmetics, personal care, and consumer goods.
Bioplastic Packaging Market Report Highlights
- The biodegradable material segment is expected to expand at the highest CAGR of 17.3% from 2022 to 2030, aided by the increasing demand for sustainable packaging, strict regulation of commercial plastics, and growing consumer preference for eco-friendly plastic
- The flexible packaging segment is projected to advance at the fastest CAGR of 18.1% during the forecast period, owing to its applicability and functionality of offering excellent protection against environmental factors (air and water) to the packaged goods, wide availability, lightweight, and less complex manufacturing process than rigid packaging
- Food and beverages emerged as the leading application segment and is further expected to expand at a CAGR of 17.1% from 2022 to 2030
- The global bioplastics packaging market is highly competitive and fragmented in nature, with the presence of various key players such as BASF SE, NatureWorks LLC, SABIC, Braskem, M&G Chemicals, Teijin Limited, and Toray Industries, as well as a few medium- and small-scale regional players across the globe
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Bioplastics are plastics that are made from renewable sources such as corn, sugarcane, potato, wheat, rice, vegetable oil, or cellulose. There are two types of bioplastics, namely biodegradable plastics and non-biodegradable plastics. Biodegradable plastics include polylactic acid, starch blends, PBAT, and PBS, while non-biodegradable plastics include polyethylene, polyethylene terephthalate, polyamide, and polytrimethylene terephthalate.
Bioplastic packaging is considered to be an environment-friendly solution and helps enhance the final product’s appearance. Growing usage of bioplastics in flexible packaging is expected to fuel market growth. The growing demand for food, due to the rising global population, is a key factor driving the demand for flexible packaging. Moreover, the packaged food industry in the U.S. and Europe has grown tremendously in recent years. Furthermore, increasing concerns regarding toxins in petrochemicals, along with depleting crude oil reserves, are driving the development of bio-based polymers.
Regulations by most governments restricting the consumption of petroleum-based plastics in certain applications such as food packaging and medical devices are expected to further incentivize bioplastic production in the plastics industry. However, the high cost as compared to conventional plastics is a major factor restraining the market growth. Currently, low prices of conventional plastics are making it difficult for bioplastics to achieve competitive pricing.
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List of Key Players in Bioplastic Packaging Market
- Amcor Plc.
- Novamont S.p.A
- NatureWorks, LLC
- Coveris
- Sealed Air
- Alpha Packaging
- Constantia Flexibles
- Mondi
- Transcontinental Inc.
- ALPLA
Research Methodology
We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.
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Segmented the global bioplastic packaging market based on material, type, application, and region
Table of Contents
Chapter 1 Methodology and Scope
1.1 Research Methodology
1.2 Assumptions
1.3 Information Procurement
1.3.1 Purchased Database
1.3.2 GVR’s Internal Database
1.3.3 Secondary Sources
1.3.4 Third-Party Perspective
1.3.5 Primary Research
1.4 Information Analysis & Data Analysis Models
1.5 Market Productulation and Data Visualization
1.6 List of Data Sources
Chapter 2 Executive Summary
2.1 Market Insights
2.2 Market Outlook
Chapter 3 Plastic Packaging Market Variables, Trends, And Scope
3.1 Market Lineage Outlook
3.1.1 Parent Market Outlook: Packaging Market
3.1.2 Related Market Outlook: Paper & Paperboard Packaging Market
3.2 Industry Value Chain Analysis
3.2.1 Raw Material Trends
3.2.2 Major Raw Materials Analysis
3.2.6 Sales Channel Analysis
3.3 Technology Timeline
3.4 Regulatory Framework
3.4.1 Consumer Packaging And Labelling Act
3.5 Market Dynamics
3.5.1 Market Driver Analysis
3.6 Market Restraint
3.7 Business Environment Analysis: Plastic Packaging Market
3.7.1 Industry Analysis: Porter’s Five Forces
3.7.2 PESTEL Analysis
3.7.3 Major Deals & Strategic Alliances Analysis
3.8 Market Strategies
3.8.1 Impact Of COVID-19
Chapter 4 Bioplastics Packaging Market: Material Estimates & Trend Analysis
4.1 Material movement analysis & market share, 2021 - 2030
4.2 Biodegradable
4.2.1 Global Bioplastics Packaging market, in biodegradable estimates and forecasts, 2017 - 2030 (USD Million)
4.3 Non-biodegradable
4.3.1 Global Bioplastics Packaging market, in non-biodegradable estimates and forecasts, 2017 - 2030 (USD Million)
Chapter 5 Bioplastics Packaging Market: Type Estimates & Trend Analysis
5.1 Type movement analysis & market share, 2021 - 2030
5.2 Flexible
5.2.1 Global Bioplastics Packaging market, in flexible estimates and forecasts, 2017 - 2030 (USD Million)
5.3 Rigid
5.3.1 Global Bioplastics Packaging market, in rigid estimates and forecasts, 2017 - 2030 (USD Million)
Chapter 6 Bioplastics Packaging Market: Application Estimates & Trend Analysis
6.1 Application movement analysis & market share, 2021 - 2030
6.2 Food & Beverages
6.2.1 Global Bioplastics Packaging market, in food and beverages estimates and forecasts, 2017 - 2030 (USD Million)
6.3 Consumer Goods
6.3.1 Global Bioplastics Packaging market, in consumer goods estimates and forecasts, 2017 - 2030 (USD Million)
6.4 Cosmetic & Personal Care
6.4.1 Global Bioplastics Packaging market, in cosmetic and personal care estimates and forecasts, 2017 - 2030 (USD Million)
6.6 Pharmaceuticals
6.6.1 Global Bioplastics Packaging market, in pharmaceuticals estimates and forecasts, 2017 - 2030 (USD Million)
6.6 Others
6.6.1 Global Bioplastics Packaging market, in others estimates and forecasts, 2017 - 2030 (USD Million)
The global Bioplastic Packaging Market to reach USD 34.24 billion by 2024, driven by the rising consumer demand for resource efficient and eco-friendly products.
Europe was the largest market accounting for 32.7% of the volume share in 2016 due to supporting regulations coupled with consumer awareness regarding the conservation of the environment.
North America and Asia Pacific followed suit, where the regions together are expected to contribute USD 3.26 billion by 2024.Keeping these driving factors in mind, companies are ramping up their production capacity as well as foraying into R of application of new biopolymers into mainstream applications.
For instance, in October 2016, BASF and Avantium entered into a joint venture to form Synvina JV, which will manufacture and market FDCA and PEF.
For instance, in April 2017, UK-based Biome Bioplastics developed a fully compostable and recyclable coffee cup made entirely from bioplastic materials.
These factors together are expected to provide an impetus to the growth of the bioplastic packaging market over the next seven years.Browse Details of Report @ https://www.hexaresearch.com/research-report/bioplastic-packaging-marketPET dominated the global market contributing to USD 1.84 billion in 2016.
