Bioplastic packaging market to post substantial growth

From $4.03 billion in 2017, the global bioplastic packaging market is projected to grow substantially over the period 2019-2015 to reach $28.5 billion by 2025. With the increasing consumer awareness and heightened preference for environment-friendly products, packaging solution for various applications, especially in food and beverages, is driving the global bioplastic packaging market to expand by as much as 27% yearly until 2025, according to a report by Adroit Market Research (www.adroitmarketresearch.com).   

 

Statistics show that plastics are presently the third most ordinarily preferred product from the oil and gas business, according to the report. But most of the countries are now prohibiting the utilization of typical plastic bags and other plastic packaging. With the large deposits of plastic waste being stuck in the ocean threatening marine life, various organizations and those in the private sector as well as consumers, are now looking at the utilization of perishable plastics, or bioplastics. Bioplastics are often factory-made from present chemical compound chains in potatoes, polysaccharide, agricultural waste, and corn starch. Produced from renewable sources, bioplastics are perishable and have a shorter lifetime than typical plastics, and are already in massive scale use in care and prescription agriculture, packaging textiles, and drugs. The production of bioplastics from cellulose and corn starch and natural polymer chains is gaining acceptance.  

 

 

Based on the raw material, the global bioplastic packaging market is classified into PET, PE, Other Non-Biodegradable, PBAT, PBS, PLA, PHA, and Starch Blend. Based on the product overview, the global bioplastic packaging market is categorized into rigid and flexible.

 

The Global Bioplastic Packaging Market, by Application 2015-2025 (USD Million) by Adroit Maket Research is based on the application overview - the global bioplastic packaging market is fragmented into plastic bottle, food packaging, and others. Bioplastics are usually used in the packaging industry for pharmaceuticals packaging, goods packaging, and food packaging. It is used in good amount in the single-use packaging materials such as carry bags. Additionally, increasing awareness about the environment pollution and sanction on conventional plastics further boosts the growth of the bioplastics market.

 

Leading players of the global bioplastic packaging market include BASF SE, Koninklijke DSM, NatureWorks, LLC, Metabolix, The Dow Chemical Company, Mitsubishi Plastics Inc., Novamont S.p.A, Braskem SA, and ECM BioFilms, according to the report.