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

Report Code: PMI503123 | Publish Date: July 2023 | No. of Pages: 170

Bioplastic Packaging Market Overview

Bioplastics have the potential to bypass the environmental impacts of petroleum-based plastics, if made from bio-based feedstock, bioplastics avoid the high greenhouse gas emissions of oil and natural gas emissions and avoid concerns about health effects from petrochemical processing. Bioplastics have the potential to bypass the environmental impacts of petroleum-based plastics for sustainable food packaging. Food packaging should be natural and environmentally friendly, bioplastics or biopolymers from renewable resources have attracted increasing industry interest as a solution to environmental problems and the limited resources of petroleum-based polymers. The most frequently cited benefits of bioplastics are reduced use of fossil fuel resources, smaller carbon footprint and faster decomposition. Bioplastics are also less toxic and do not contain bisphenol A, a hormone disruptor often found in conventional plastics. The most popular bioplastic is polylactic acid, or PLA, which is typically made from fermented plant starches, PLA is already seen in widespread use, often as single-use cups labeled "compostable in industrial facilities". 

Bioplastic packaging is used to make bottles, jars and containers as well as fresh food packaging, the increasing popularity of supermarkets, arcades, retail chains and internet shopping in India in the Asia Pacific region has raised the demand for bags. The growing use of plastics in packaging, cosmetics, personal care and consumer goods is likely to drive the growth of the bioplastic packaging industry.

Attributes

Details

Bioplastic Packaging Market Value (2022)

US$ 13.5 Bn

Bioplastic Packaging Market Projected  Value(2032)

US$ 77.1 Bn

Bioplastic Packaging Market CAGR (2022-2032)

25.5%

Bioplastic Packaging Market Drivers & Restraints

Growing concern and regulations regarding the use of plastics by various authorities is an essential factor driving the bioplastic packaging market, and increasing adoption of bioplastic packaging solutions, due to their nature and eco-friendliness, and renewable, biodegradable variants are key drivers of growth and will continue during the forecast period. However, growing consumer preference for green products over synthetic derivative materials in chemicals, growing demand from the flexible packaging industry, and increasing use of renewable and bio-based products are another growth factor in this market. Bioplastics are typically two or three times more expensive than major conventional plastics such as PE or PET, and their production suffers from low yields and, being expensive, these disadvantages should be less severe when production plants become larger and economies of scale are benefited. Significant difficulty in manufacturing bioplastic packaging from raw materials of agricultural origin and cost competitiveness of bioplastic packaging over conventional plastics are anticipated to hinder market growth. However, increasingly poor infrastructure for recycling, growing lack of awareness about the importance of sustainability in some emerging economies, and increasing packaging towards non-plastic solutions are the major factors restraining the market growth.

Technological advancement

Manufactures involved in Bioplastic Packaging Market are developing advanced versions of their products due to new age technological advancements. Key players of Bioplastic Packaging are investing more in power systems and creating more modern, timesaving, cost-effective technology that has a positive impact on the Bioplastic Packaging Market. Due to government regulations, manufacturers are looking for innovative ways to reduce their environmental footprint and tap into the advanced technical properties offered by bioplastics, all of which will significantly boost the bioplastics for packaging market. Furthermore, increasing growth modernization and technological advancements in the packaging industry and increasing growth of e-commerce industry will create new opportunities for the bioplastic packaging market during the forecast periodIn May 2022, CJ BIO launched the Bioplastic product line, an advanced amorphous PHA technology that will provide plastic manufacturers and consumer products companies with marine, soil and household biodegradable options. CJ BIO, a division of South Korea-based CJ CheilJedang, developed PHACT marine biodegradable polymers based on its proprietary polyhydroxyalkanoate technology. In February 2020, the Korea Research Institute of Chemical Technology announced in February that it had developed a new technology to produce environmentally friendly polyethylene furanoate plastic. PEF has been spotlighted as a new bio-alternative to replace PET plastic and is made from glucose, a sugar substance produced by plants.

Bioplastic Packaging Market Segmentations & Regional Insights

The Bioplastic Packaging Market is segmented based on product type, application, packaging type, end-use and region.

On the basis of product type, the Bioplastic Packaging Market is segmented into Bio-PET, PLA and PLA Blends, Starch Blends, Other biodegradables. On the basis of application, the target market is classified into Plastic Bottles, Packaging and Others. On the basis of Packaging Type, the Bioplastic Packaging Market is segmented into Rigid, Flexible. On the basis of End-Use, the target market is classified into Food and Beverages, Consumer Goods, Pharmaceutical, Industrial Goods, Others.

Regional Insights:

On region the Bioplastic Packaging Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The global packaging market is dominated by the European region, followed by North America and Asia-Pacific. In Europe, supporting government policies includes helping consumers prioritize purchasing bio-based products. Europe strengthened its position as a global center of industry and ranked first in research and development.

Bioplastic Packaging Market Report Scope:

Attribute

Details

Base year for estimation

2022

Forecast period

2022 – 2032

Market representation

Revenue in USD Billion & CAGR from 2022 to 2032

Market Segmentation

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

Regional scope

North America - U.S., Canada

Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe

Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific

Latin America - Brazil, Mexico, Argentina, Rest of Latin America

Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2022 to 2032. For the purpose of this study, has segmented the Bioplastic Packaging Market report based on product type, application, packaging type, end-use and region:

Bioplastic Packaging Market, By Product Type:

  • Bio-PET
  • PLA and PLA Blends
  • Starch Blends
  • Other Biodegradables

Bioplastic Packaging Market, By Application:

  • Plastic Bottles
  • Packaging
  • Others

Bioplastic Packaging Market, By Packaging Type:

  • Rigid
  • Flexible

Bioplastic Packaging Market, By End-Use:

  • Food and Beverages
  • Consumer Goods
  • Pharmaceutical
  • Industrial Goods
  • Others

Bioplastic Packaging Market, By Region:

  • North America
    • Middle East & Africa
      • GCC
      • Israel
      • South Africa
      • Rest of Middle East & Africa
    • Latin America
      • Brazil
      • Mexico
      • Rest of Latin America
    • Asia Pacific
      • China
      • India
      • Japan
      • South Korea
      • Rest of Asia Pacific
    • Europe
      • Germany
      • UKFrance
      • Russia
      • Italy
      • Rest of Europe
    • U.S.
    • Canada

Bioplastic Packaging Market Competitive Landscape & Key Players

The key players operating 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.

Bioplastic Packaging Market Recent News

  • In May 2021, Amcor has taken another step towards its goal of providing more sustainable packaging solutions by producing recycled plastic packaging for powdered chocolate in Latin America.
  • In January 2022, Amcor, a global leader in developing and manufacturing responsible packaging solutions, launched a new platform of paper-based packaging products in January. AmFiber innovations aim to redefine the capabilities of traditional paper packaging by providing a wide range of features and functional benefits to meet the changing needs of consumers.

Bioplastic Packaging Market Company Profile

  • BASF SE
  • Koninklijke DSM N.V.
  • NaturalWorks, LLC
  • Metabolix, Inc.
  • Dow Chemical Company
  • Mitsubishi Chemical Corporation
  • Alpagro Packaging
  • Amcor Limited
  • Eastman Chemical Company
  • Biome Bioplastic Limited

FAQs

Bioplastic Packaging Market is segmented based on product type, application, packaging type, end-use and region.

Growing consumer preference for green products over synthetic derivative materials in chemicals, growing demand from the flexible packaging industry, and increasing use of renewable and bio-based products are growth factor of bioplastic packaging market.

Packaging market is dominated by the European region, Europe strengthened its position as a global center of industry and ranked first in research and development.

Key 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.