Bioplastics Packaging Market
Global Market Study on Bioplastics Packaging: Bans on Single-use Plastic to Bode Well for Market Growth
Bioplastic Packaging Market Segmented By Bio-PET, PLA and PLA blends, Starch Blends
According to an updated industry analysis by Persistence Market Research, the global bioplastics packaging market totaled a valuation of nearly US$ 7 Bn in 2021, and this is predicted to increase 2.4X by the end of the decade. This bioplastics packaging industry intelligence survey also estimates the market to record a stellar CAGR of 14% over the next ten years.
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Key Points Covered in Bioplastics Packaging Industry Survey:
- Market estimates and forecast 2016-2031
- Key drivers and restraints impacting market growth
- Segment-wise, country-wise, and region-wise analysis
- Competition mapping and benchmarking
- Brand share and market share analysis
- Key product innovations and regulatory climate
- COVID-19 impact on bioplastics packaging sales and how to navigate
- Recommendation on key winning strategies
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Sustainability to Lead Bioplastics Packaging Industry
Sustainability is the new focus as increasing awareness about the environment has driven demand for a major revolution in packaging solutions. Degradable and sustainable packaging will be the leading trend in the packaging space.
Bioplastics in packaging are gaining popularity and growing research in the field of packaging has also contributed to a boost in demand and applications as well. ALPLA, a global leader in packaging solutions, recently acquired a substantial stake in Panara a.s. of Slovakia, an R&D company devoted to developing 100% renewable bioplastic compounds with commercially useful properties.
This investment will pave the way for new solutions in the commercial packaging industry. The company stated that this was required in order to prepare the company according to future packaging solutions that will be developed around the circular economy model.
The European Union’s directive banning the use of single-use plastics came into existence in July 2021. This is expected to have a major impact on the packaging industry. This directive, however, will push the popularity as well as demand for bioplastics used in packaging.
As research progresses in bioplastics, we will be seeing some major changes in the global market landscape. The bioplastics industry is expected to grow substantially over the coming years.
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Growing trend of sustainability in different aspects of packaging is driving the market for bioplastics packaging. Food & beverage industries are known to be the leading consumers of bioplastics packaging owing to growing reluctance to plastic packaging with high risk of contamination and the huge application of packaging products.
The growing consumer preference for organic and natural polymers in food packaging is also positively influencing the adoption rate of these sustainable packaging solutions in the food & beverage sector. The global market is projected to exhibit 14% CAGR over the next ten years. Besides consumer awareness, augmenting government initiatives encouraging the use of eco-friendly packaging products in different countries is bolstering the market growth.
Europe is expected to lead the global market in terms of expansion, followed by North America and the Asia Pacific. Regions projected to exhibit tremendous growth in the bioplastics packaging material landscape include Japan, US, China, and Germany.
Major players in the market are focused to enhance the physical properties of these packaging materials, making them highly attractive and usable. They are exploring opportunities in emerging economies to strengthen their market presence.
Prominent market players are Novamont S.p.A, Innovia Films, Koninklijke DSM N.V., TheDow Chemical Company (Dow), and Metabolix, Inc. The need for sustainable and affordable packaging solution for a vast range of products has encompassed several industrial verticals, especially in food & beverages (F&B).
With incorporation of the best industrial & manufacturing technologies available, F&B companies from around the world have induced higher importance for the use of bioplastics.
Bioplastics packaging is slated to gain traction and attain a privileged status in the global F&B packaging industry, as consumers are conscientiously paying heed to the materials used for wrapping their favorite food consumables.
With growing preference for packaging materials made from natural or organic polymers that are derived from biomass sources such as fats, oils, starch, and microbiota, among others, the global bioplastics packaging market has been able to record a market value of nearly US$ 7 Bn in 2021.
By the end of 2031, the market is expected to reach a value of US$ 17 Bn while registering an exponential CAGR of 14%.
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Key Market Dynamics
Packaging solutions have incurred a predominant significance among every F&B Company. Manufacturers of food products and beverages continue to adopt the most suitable packaging mechanism, befitting the packaging requirements of various kinds of products.
Bioplastics packaging is, thus, expected to gain prominence in the global F&B sector, primarily due to the several advantages that it endures. Obtained from biomass sources, bioplastics or biopolymers are innovative packaging materials for food materials, the demand for which is deeply integrated to consumer preferences.
Preferences of consumers for organic/natural materials is slated to impact the growth of bioplastics packaging market. Along with this, government initiatives enacted in various countries and regions in the world promote the production of bioplastics over that of hazardous polymer and plastic materials.
Besides the consumers’ keen inclination towards eco-friendly products and favorable support from industrial regulatory bodies and governments, the growth of the global bioplastics packaging market will also be driven by the sustainability of bioplastics packaging materials compared to others.
Enhancing the physical properties of packaging materials by making them more attractive, easily printable and antistatic has been observed to be key trend influencing the growth of global bioplastics packaging market.
Nonetheless, inclusion of chemical additives in production of bioplastics has spiked health concerns related to its toxicity. Besides the health concerns, complexity of processes for separation of bioplastics materials from disposal sites, on the basis of resin types, are also slated to restrain the market’s growth.
The global market for bioplastics packaging is segmented on the basis of products and applications. Bio-PET, PLA & PLA blends, starch blends, and other biodegradables are the product-type sub-segments for bioplastics packaging.
Food & beverages, and catering are the key applications segmented in the global bioplastics packaging market. PLA and starch bases bioplastics are expected to be influenced by incorporation of nanotechnology-based packaging that makes them environmentally safe and ensures the safety of products as well.
- PLA and PLA Blends
- Starch Blends
- Other biodegradables
- North America
- The U.S.
- The U.K.
- Asia Pacific
- Rest of Asia Pacific
- Rest of the World (RoW)
Among the regional segmentation, the global market for bioplastics packaging is categorized into key regions such as Europe, North America, Asia Pacific and the Rest of the World (RoW). Expansion of global bioplastics packaging market in such regions is intrinsic to prominence of their respective F&B industries.
For bioplastics packaging, Europe is anticipated to be the dominant region in the global market throughout the forecast period. North America and Asia-Pacific will be the following lucrative regions in the global bioplastics packaging market. China, Japan, Germany and the US will exhibit exceptional growth in bioplastics packaging market.
Key Market Players
Since few companies participating in the growth of global bioplastics packaging market, contribution of each one of them is highly-instrumental towards market expansion. And, a stiff competition is being anticipated among such companies with respect to accounting for larger market share.
Some of the key companies profiled in the global bioplastics packaging market include, Metabolix, Inc., The Dow Chemical Company (Dow), Novamont S.p.A, NatureWorks, LLC, Innovia Films, Ltd, Braskem S.A, BASF SE (Badische Anilin- und Soda-Fabrik), Arkema S.A., and Koninklijke DSM N.V., among others.