Bioplastics packaging market research report likewise renders a canny sharpness to recognize pending business openings, challenges, dangers and hindrances which helps Bioplastics packaging organizations to improve their business in like manner. In the long run, the report gives crucial and key guidance which helps the market players in settling on educated business choices and shaping profitable business stratagems. The report offers an extensive assessment of the market. It does as such by presenting inside-out subjective market insights, authentic information, and evident projections about market measure.
Bioplastics packaging market is expected to rise to an estimated value of USD 41.71 billion by 2026, registering a healthy CAGR in the forecast period of 2019-2026. This rise in market value can be attributed to the rise in demand for durable packaging products, as well as initiatives undertaken by the governments of various regions to promote the manufacturers producing bioplastics packaging products.
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Bioplastics are a special category of plastic which are sourced or created from renewable biodegradable products, such as oils, cellulose, starch, fats, straws, alcohols, acid, etc. Although it isn’t just sourced from these materials they are produced from recyclable plastics as well. They are degradable, and are already in consumption from different industrial verticals such as consumer goods, pharmaceutical and food & beverages market.
- Increasing concerns and regulations regarding the usage of plastics from the various authorities is expected to drive the market growth
- Technological advancements and innovations pertaining to the products, and the raw materials utilized in the production of bioplastics; this factor is expected to drive the market growth
- Expansion of production capabilities in the developing regions of the world is expected to drive the growth of the market
- High production cost associated with the product due to the non-recyclable nature of the product are factors expected to restrain the market growth
- Complications in the production process of bioplastics are also expected to restrain the growth of the market
Key Market Competitors: Global Bioplastics Packaging Market
Few of the major competitors currently working in the bioplastics packaging market are
- BASF SE
- Koninklijke DSM N.V.
- Novamont S.p.A.
- ALBIS PLASTIC GmbH
- NatureWorks LLC
- CCL Industries
- Mitsubishi Chemical Corporation
- ECM BioFilms
- Eastman Chemical Company
Other Players Are FKuR Kunststoff GmbH; VIRENT, INC.; Danimer Scientific; IFS Group; Biome Bioplastics; Tetra Pak International S.A.; Berry Global Inc.; Mondi; Amcor Limited; Uflex Limited; ALPLA; Barbier Group; Plastipak Holdings, Inc.; TORAY INDUSTRIES, INC. and Cardia Bioplastics.
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Key Developments in the Market:
- In February 2019, BIO-ON announced that they had agreed with Innova Imagen SA de CV for the production of (PHA) polyhydroxyalkanoate biopolymers in Mexico. The agreement terms are the construction of a production plant in Mexico for the production of polyhydroxyalkanoate biopolymers. The agreement also includes the licensing of BIO-ON’s PHA technology for which they are expected to receive approximately USD 56.7 million.
- In December 2018, BIO-ON announced the creation of a new company “ZEROPACK” in collaboration with Rivoira which has acquired worldwide licensing of patents for bioplastic packaging goods and products for 10 million Euros. The creation of this company is aimed at providing the distributors with a regular supply of bioplastics packaging goods for use in food & beverage sectors.
Segmentation: Global Bioplastics Packaging Market
- Bio-PET (Poly-Ethyelene-Terephthalate)
- PLA & PLA Blends (Polylactic Acid & Polylactic Acid Blends)
- Starch Blends
- Bio-PP (Polypropylene)
- Bio-PA (Polyamide)
- TPS (Thermoplastic Starch)
- PHA (Polyhydroxyalkanoates)
- Bio-PE (Polyethylene)
- PBS (Polybutylene Succinate)
- Aliphati & Aromatic Polyesters
- Molded Fiber
- AAC (Aliphatic-Aromatic Co-Polyester)
- WSP (Water-Soluble Polymer)
- PCL (Polycaprolactone)
- PBAT (Polybutylene Adipate Terephthalate)
By Application Type
- Pouch & Sachet
By Extraction Technology
- Injection Molding
- Non-Biodegradable Bio-Derived Thermoplastics
- Petrochemical Synthesization
- Bio-Derived Monomers Synthesization
- Natural or GMO
- Food & Beverages
- Consumer Goods
- Industrial Goods
- Electrical & Electronics
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East & Africa
Competitive Analysis: Global Bioplastics Packaging Market
Global bioplastics packaging market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of bioplastics packaging market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
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