The 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 platic packging 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 36.8% CAGR by the end of 2020. 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, which are derived from biomass sources such as fats, oils, starch, and microbiota, among others, the global market for bioplastics packaging has been able to record a market value of US$ 4,342.5 Mn in 2014. By the end of 2020, the global bioplastics packaging market is expected to reach a market value of US$ 28,503.6 Mn, registering an exponential CAGR of 36.8%.
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.
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.
Persistence Market Research has comprehensively studied and executed a global analysis on the market for bioplastics packaging, which is compiled in the report. Availing this report shall provide an in-depth assay and estimation on the global market for bioplastics packaging for a six-year forecast period of 2014-2020. With 2014 as the base year for market value calculation, the report includes assessment of estimated market data till the end of 2020, in accordance to the current dynamics and status of the market. The drivers, the restraints, influential trends, promising opportunities, and recent market developments are some of the factors that define the dynamics of global bioplastics packaging market, and assist the approximation of market values for the forecast period.
The report on global bioplastics packaging market begins with a section defining the trends that incidentally or unswervingly impact the growth of the market. This section mentions opportunities that shall promote the use of bioplastics packaging solutions in the future and induce their applications in some unexplored industrial verticals. The following section, then, includes the drivers and the restraints for bioplastics packaging market and illustrates their specific impact on the market’s growth. The report, further, differentiates the global bioplastics packaging market on the basis of its segmentation. The segmentation section breaks down the market into various aspects and exhibits the factors that either promote or demote the prominence of one segment over other in the global market over the forecast period. At this section, trade analysts and industrial economists are able to understand the why a particular segment in the global bioplastics packaging market is raking in more revenues than the other.
Segmentation of the global bioplastics packaging market is not limited to the types of products or solutions, or their applications and end-uses. The report continues with a designated section on the regional analysis of the global market for bioplastics packaging. Segmenting the market’s estimated progress into regions such as North America, Europe, Asia-Pacific, and Rest of the World (RoW) is highly-imperative to understand the overall expansion of the global bioplastics packaging market. In this report, Europe is slated to retain its exclusive dominance throughout the forecast period, followed by North America and Asia-Pacific. The regional segmentation of global bioplastics packaging market is further elaborated into the fastest growing regions, regions or countries enduring sluggish growth, the respective growth rates of key countries in a particular region, estimated revenues, their contribution to global market, and the specific factors that endorse the growth of bioplastics packaging market in every region.
The research report includes an analysis on the key companies participating in the global bioplastics packaging market. Leading players that have and will continue to contribute towards expansion of global bioplastics packaging market size by instate higher & improved production to meet the global demands are all included in the company profiling available in the report. The report on global bioplastics packaging market concludes with an overview of the competitive landscape for the forecast period 2014-2020.
To deduce the global bioplastics packaging market size, the report considers various aspects based on secondary research. Furthermore, key data points such as region-wise split and market split by product types and applications; and qualitative inputs from primary respondents have been incorporated to arrive at appropriate market estimates. The forecast presented in the report assesses the total revenue generated and expected revenue contribution in the global bioplastics packaging market.
The report begins with sizing the market in terms of value and volume for the base year, which forms the basis for forecasting how the market is anticipated to take shape in the near future. Given the characteristics of the market, gathered data is triangulated via different analysis based on supply side and demand side drivers and other key dynamics of the global bioplastics packaging market. To develop the market forecast, Persistence Market Research has also conducted a factor analysis to understand the impact of various forces/factors on the target market. The report provides forecasts not only in terms of CAGR but also presents a detailed analysis based on key parameters such as Year-on-Year (Y-o-Y) growth to understand market predictability and to identify the right opportunities.
Another key feature of this report is an analysis of the global bioplastics packaging market and the corresponding revenue forecast in terms of absolute dollar opportunity, usually overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales perspective in the global bioplastics packaging market. Further, to understand key segments in terms of their growth and overall global bioplastics packaging market performance, Persistence Market Research has developed a market attractiveness index to help providers identify existing market opportunities in the global bioplastics packaging market.
Chapter Company Profiles: