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Bioplastic Packaging Market By Product (Bio-PET, PLA and PLA Blends, Starch Blends, Others)- Growth, Future Prospects, Competitive Analysis And Forecast To 2016 - 2023

Sustainable and affordable packaging for a varied range of products across different industries, including food and beverage, has inclined the demand for bioplastic packaging over the past few years. Bioplastic packaging has gained traction all over the world due to the adaptation of products by different manufacturers. Bioplastic packaging is different from non-bioplastic packaging, as the former degrades completely and quickly when decomposed without any poisonous emissions. The sector of bioplastic packaging is a small segment and is at a nascent stage when compared to the overall packaging industry around the globe.

Biodegradable food packaging is different from non-biodegradable food packaging, as the former degrades completely and quickly when decomposed without any poisonous emissions. The sector of bioplastic packaging is a small segment and is at a nascent stage compared to the overall packaging industry around the globe. Recent advancements and changes in techniques have uplifted the global bioplastic packaging market. Moreover, increasing consumer awareness related to the utilization of biodegradable-based products is anticipated to intensify the growth of the bioplastic packaging market until 2023.

Changes in lifestyle, along with increased consumption of packaged food products, are expected to drive the growth of the global bioplastic packaging market over the forecast period. Besides this, increasing emphasis on sustainable packaging by retail companies and an escalation in the adoption of plastic bags all over the world are expected to bolster the growth of the global bioplastic packaging market between 2016 and 2023.

Rising environmental concerns all over the world due to an increase in pollution and higher consumer preferences for biodegradable material-based products are anticipated to foster the growth of the bioplastic packaging market over the forecast period.

The bioplastic packaging market has been estimated to be valued at US$ 6,765.9 million by the end of 2016 and is expected to attain revenue of US$ 46,490.6 million by 2023, expanding at a CAGR of 31.7% during the forecast period of 2016–2023.

Purpose of the Report

The purpose of this strategic research study titled "Global Bioplastic Packaging Market: Growth, Future Prospects, and Competitive Analysis 2016–2023" is to provide company executives, industry investors, and industry participants with in-depth insights to enable them to make informed strategic decisions regarding the opportunities in the global bioplastic packaging market.

Target Audience

  • Industry Investors
  • Research Professionals
  • Emerging Companies
  • Raw Material Suppliers and Buyers
  • Product Suppliers and Buyers
  • Research Institutes

On the basis of product type, the bioplastic packaging market is categorized into the following types:

  • Bio-PET
  • PLA and PLA blends
  • Starch Blends
  • Others

Bioplastics have been generally introduced to reduce the problems caused by old and conventional plastics. These are typically made from biodegradable feedstock that decomposes in soil. By product type, the bioplastic packaging market is segmented by bio-PET, PLA and PLA blends, starch blends, and others. In 2015, the Bio-PET segment contributed the most revenue to the global bioplastic packaging market. Rising demand for bio-PET in the packaging sector due to rising research and development expenditures by beverage companies is anticipated to prosper the growth of the segment till 2023.

On the basis of application, the bioplastic packaging market is categorized into the following types:

  • food and beverage
  • Kitchen Utensils
  • Electronics Industries
  • Others

Rising consumer demand for bioplastic packaging is likely to strengthen the growth of alternative packaging materials during the forecast period. Besides this, the ban on lightweight single-use plastic bags is also strengthening the growth of the bioplastic packaging market. Increasing demand from consumers for cost-effective, better-featured, and easy-to-use products; rising consumer requirements for convenience; growth and development of new packaging materials; higher awareness of environmental concerns; and the adoption of new regulations are expected to be the major growth drivers for the bioplastic packaging market's growth between 2016 and 2023. By application, the bioplastic packaging market is segmented by food and beverages, kitchen utensils, electronics industries, and others.

In 2015, the food and beverage segment contributed the highest share of the total revenue of the global bioplastic packaging market. Higher adoption of eco-friendly packaging instead of conventional packaging for different other products is anticipated to fuel the segment's growth at a robust CAGR during the forecast period. The increasing use of bioplastics in everything from bottles in packaging to keyboards in consumer electronics and interior parts in the automotive sector is expected to fuel the growth of the electronics industries and other segments until 2023.

On the basis of geography, the global bioplastic packaging market is segmented into the following categories:

  • North America
  • U.S.
  • Canada
  • Europe
  • EU
  • CIS
  • Rest of Europe
  • Asia Pacific
  • China
  • India
  • Rest of Asia Pacific
  • Middle East and Africa (MEA)
  • GCC
  • rest of MEA
  • Latin America
  • Brazil
  • rest of Latin America

Consumers are becoming increasingly concerned about the environmental impact of plastic packaging blends. This has prompted companies to look beyond the use of bioplastics to other alternatives. Thus, increasing inclination towards naturally manufactured products and a changing mindset of consumers towards sustainable goods are anticipated to bolster the growth of the bioplastic packaging market over the period 2016–2023. The global bioplastic packaging market is segmented on the basis of geography. Europe contributed the highest revenue share in the total bioplastic packaging market, with a contribution of more than 40% by the end of 2015. North America came in second place the following year.

Higher health awareness and consciousness, along with high population spending in these developed regions, are anticipated to contribute to the double-digit growth rate of these regions during the projected period. Increasing government interest in order to strengthen the demand for bioplastic packaging-based products and the rising trend of people towards spending on biodegradable products are anticipated to bolster the growth of the bioplastic packaging market in the Asia Pacific region between 2016 and 2023.

Frequently Asked Questions:

The market for Bioplastic Packaging Market is expected to reach US$ 46,490.5 Mn By 2023.

The Bioplastic Packaging Market is expected to see significant CAGR growth over the coming years, at 31.7%

The report is forecasted from 2016-2023.

The base year of this report is 2015.

Koninklijke DSM N.V., The Dow Chemical Company,Metabolix Inc.Novamont S.p.A, are some of the major players in the global market.

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Trusted By
Godaddy
Published Date:  Dec 2016
Category:  Packaging
Report ID:   58269
Report Format:   PDF
Pages:   120
Rating:    4.1 (40)
Delivery Time: 24 Hours to 48 Hours   
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