Bioplastic Packaging Market is estimated to be US$ 77.1 billion by 2032 with a CAGR of 25.5% over the forecast period (2022-2032)

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Published Date: May 2023

Bioplastics are plastic materials produced from renewable biomass sources, such as vegetable fats and oils, corn starch, starch, straw, woodchips, sawdust, and recycled food waste.

Bioplastic packaging, are mostly favored due to increasing awareness of regarding the environment. As bioplastic provides benefits such as, fossil fuel sources, smaller carbon footprint and faster decomposition. Further, bioplastics are also less toxic and do not contain bisphenol A, a hormone disruptor that is found in conventional plastics. Moreover, Biodegradable plastic often also takes less energy to produce than conventional plastic, which means it consumes less fossil fuel and emits less greenhouse gas emissions that harm the planet, releasing less harmful substances when it breaks down.

The report “Bioplastic Packaging Market, By Product Type (Bio-PET, PLA and PLA Blends, Starch Blends, Other biodegradables), By Application (Plastic Bottles, Packaging and Others), By Packaging Type (Rigid, Flexible), By End-Use (Food and Beverages, Consumer Goods, Pharmaceutical, Industrial Goods, Others) and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends Analysis and Forecast till 2032 “

Key Highlights:

In April 2022, Amcor, a global leader in developing and manufacturing responsible packaging solutions, announced in April the addition of a new, more durable High Shield laminate to its pharma packaging portfolio.
In May 2022, Bormioli Pharma announced the launch of EcoPositive, a new label that covers all sustainable packaging solutions produced by the company, including recycled glass and plastic, bio-based, biodegradable or compostable plastic solutions and advanced polymer products.
In May 2019, Eastman announced two recycling innovations, Advanced Circular Recycling and Carbon Renewal Technology, enabling the recycling of mixed polyester and mixed plastic waste.

Analyst View:

Bio based plastics reduce dependence on fossil resources and improve the product's carbon footprint, allowing end-of-life scenarios for biodegradable plastic disposal and recycling, thereby reducing the burden on our existing waste systems and the environment. However, increasing inclination towards sustainability by key players in FMCG and other end use industry for packaging is expected to boost the market of Bioplastic packaging market.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Bioplastic Packaging Market, By Product Type (Bio-PET, PLA and PLA Blends, Starch Blends, Other biodegradables), By Application (Plastic Bottles, Packaging and Others), By Packaging Type ( Rigid, Flexible), By End-Use (Food and Beverages, Consumer Goods, Pharmaceutical, Industrial Goods, Others) and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2032”

Key Market Insights from the report:

Bioplastic Packaging Market accounted for US$ 13.5 billion in 2022 and is estimated to be US$ 77.1 billion by 2032 and is anticipated to register a CAGR of 25.5%. The Bioplastic Packaging Market is segmented based on Product Type, Application, Packaging Type, End-Use and Region.

Based on Product Type, Bioplastic Packaging Market is segmented into Bio-PET, PLA and PLA Blends, Starch Blends, Other biodegradables.
Based on Application, Bioplastic Packaging Market is segmented into Plastic Bottles, Packaging and Others.
Based on Packaging Type, Bioplastic Packaging Market is segmented into Rigid, Flexible.
Based on End-Use, Bioplastic Packaging Market is segmented into Food and Beverages, Consumer Goods, Pharmaceutical, Industrial Goods, Others.
By Region, the Bioplastic Packaging Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Competitive Landscape & their strategies of Bioplastic Packaging Market:

The prominent players operating in the Bioplastic Packaging Market includes, BASF SE, Koninklijke DSM N.V., NaturalWorks, LLC, Metabolix, Inc., Dow Chemical Company, Mitsubishi Chemical Corporation, Alpagro Packaging, Amcor Limited, Eastman Chemical Company, and Biome Bioplastic Limited. The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

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Some Important Points Answered in this Market Report Are Given Below:

Explains an overview of the product portfolio, including product development, planning, and positioning
Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
Detailed analysis of the market revenue over the forecasted period.
Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
Study on the segments that are anticipated to dominate the market.
Study on the regional analysis that is expected to register the highest growth over the forecast period