WASHINGTON, March 23, 2023 (GLOBE NEWSWIRE) -- Global Bioplastic Packaging Market is valued at USD 7.5 Billion in 2022 and is projected to reach USD 16.9 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 12.4% over the forecast period 2022-2028.

Market Overview

The increased customer preference for eco-friendly products over synthetic chemicals is another factor anticipated to support the market's continuing growth. Rigid bioplastics are used in the packaging of creams, compact powders, lipsticks, and beverage bottles. A wide range of applications expands the potential for demand. This section uses materials like bio-based PET, PLA, or PE.

We forecast that the biodegradable category in the Bioplastic Packaging market sales will account for more than 52% during the forecasting period due to the increasing demand for bio-based plastics across various end-use sectors. Polylactic acid, starch blends, PBAT, PBS, PHA, polycaprolactone, and cellulose acetate are biodegradable plastics.

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Market Dynamics

The Increase in Demand for Eco-Friendly Products is Surging the Market Expansion
The increased customer preference for eco-friendly products over synthetic chemicals is another factor anticipated to support the market's continuing growth. Rigid bioplastics are used in the packaging of creams, compact powders, lipsticks, and beverage bottles. A wide range of applications expands the potential for demand. This section uses materials like bio-based PET, PLA, or PE.

An Increase in R&D Activities and Financial Investments from the Producers of the Food and Beverages is Forecasted to Drive Market Growth
The packaging industry for bioplastic is anticipated to expand due to the material's biodegradable properties. Different thermoplastic packaging substitutes are available in the food and beverage industry, depending on the necessity. Bioplastic Packaging is an advanced and supple answer to certain preservation and requirement needs. Bioplastics are used to increase product shelf life. Due to characteristics like its antimicrobial covering, for example. Bioplastics are expected to displace conventional plastic packaging in many industries due to their unique properties. Bioplastic Packaging has certain additional advantages and has the same characteristics as conventional plastic packaging.

Top Players in the Global Bioplastic Packaging market

• Amcor PLC (Australia)
• Novamont S.P.A. (Italy)
• NatureWork LLC (U.S.)
• Coveris (U.K.)
• Sealed Air (U.S.)
• Alpha Packaging (U.S.)
• Constantia Flexibles Group GmbH (Austria)
• Mondi plc (U.K.)
• Transcontinental Inc. (Canada)
• ALPLA (Austria)

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Top Report Findings

• Based on Material Outlook, the biodegradable category controls most of the Bioplastic Packaging market's revenue. Polylactic acid, starch blends, PBAT, PBS, PHA, polycaprolactone, and cellulose acetate are biodegradable plastics. The highest revenue-generating category of biodegradable products in 2021 was starch blends and PBAT.
• Based on the Type outlook, the flexible packaging category controls most of the Bioplastic Packaging market's revenue. Using case-ready packaging, improvements in packaging techniques, and advancements in bioplastic production methods are expected to increase demand for bioplastics in flexible packaging. Additionally, there is a considerable demand for flexible packaging, particularly for beverages and snack items.
• Based on the Applications outlook, the food and beverages category controls most of the Bioplastic Packaging market's revenue. The market is driven by the increased popularity of quick-service restaurants and the demand for packaged food. The market for flexible packaging is expected to rise during the forecast period due to manufacturers expanding their production capacity in response to the rising demand for packaged goods.
  

Top Trends in the Global Bioplastic Packaging Market

• One trend Vantage Market Research (VMR) expects to see in the Bioplastic Packaging industry is rigid packaging to maintain market domination. Cosmetic products like compact powders, lipsticks, creams, and beverage bottles are packaged with rigid bioplastics. A wide range of applications expands the potential for demand. The area uses materials like bio-based PET, PLA, or PE.
• Another trend that VMR predicts will continue in the Bioplastic Packaging market is recycled material packaging. Paper packaging is the largest market in the recycled material packaging area, followed by metal, glass, and plastic. Although there is still a high demand for recycled plastics, there are still some obstacles to overcome, including a lack of infrastructure with reasonable costs for collection and sorting, competition on the global market for already recovered materials, and adherence to standards for food and drug content.

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Recent Developments in the Global Bioplastic Packaging Market

• July 2022: Applications from Green Dot Bioplastics, a developer and manufacturer of bioplastic materials for innovative, sustainable end uses, were included in the Terratek BD portfolio. Consistent with Green Dot Bioplastics' goal to respond to growing sustainability demands from brand owners and customers while attaining faster rates of biodegradability, the company has improved the options for film extrusion, thermoforming, and injection molding.
• July 2022: To safeguard the environment and create a sustainable community in the Middle East, Taghleef Industries joined forces with the Emirates Environmental Group in July 2022. EEG is a team of experts collaborating to save the environment through community engagement, action programs, and education.

Biodegradable Category in Bioplastic Packaging market to Generate a Substantial Revenue

Based on Material outlook, the Bioplastic Packaging market is divided into Biodegradable and Non-Biodegradable.

During the forecast period, the market for Bioplastic Packaging is anticipated to experience the highest CAGR for the biodegradable category due to the increasing demand for bio-based plastics across various end-use sectors. Polylactic acid, starch blends, PBAT, PBS, PHA, polycaprolactone, and cellulose acetate are biodegradable plastics.

On the other hand, the Non-Biodegradable category is anticipated to grow significantly. Due to their strength, lightweight, and ability to be made in various shapes, including films and containers, these materials are frequently used in packing. Non-biodegradable bioplastics can also be recycled or disposed of in landfills regular plastics. Therefore, special disposal techniques are not necessary. However, attention and market share have increased recently for biodegradable bioplastics.

Europe Region in Bioplastic Packaging market to Generate a Substantial Revenue
Europe maintained its top spot in research and development and became the industry's global hub. One-fourth of the world's capacity to produce bioplastics is located in Europe. The region's customers are also becoming increasingly conscious of the environmental effects of plastic and non-biodegradable packaging. This country's need for eco-friendly packaging is rising, notably for packaging made of bioplastics. The market for Bioplastic Packaging is also predicted to grow due to the rising demand for nutrient-dense foods and European initiatives to regulate the use of polymers in food packaging.

The Asia Pacific is anticipated to dominate the Bioplastic Packaging market and is expected to be the fastest-growing region during the forecast period. Fresh food packaging and creating bottles, jars, and other containers typically use Bioplastic Packaging. The need for bags has expanded due to the ubiquity of supermarkets, arcades, retail chains, and online shopping in India and the APAC region. Due to the growing popularity of quick-service restaurants, food malls, and outdoor dining, single-serve utensils, and cups have significantly improved. Due to India's rise in the automotive sector, bioplastic bags are also used for commercial reasons, industrial packaging of automotive components, and dust cover.

Browse market data Tables and Figures spread through 145 Pages and in-depth TOC on Bioplastic Packaging Market Forecast Report (2023-2030).

Global Bioplastic Packaging Market Segmentation

By Materials

• Biodegradable
• Non-biodegradable

By Types

• Flexible
• Rigid

By Applications

• Food & Beverages
• Consumer Goods
• Cosmetic & Personal Care
• Pharmaceuticals
• Other Applications
  

By Region

• North America
  • United States
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • South-East Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America
• Middle East & Africa
  • GCC Countries
  • South Africa
  • Rest of MEA

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Scope of the Report:    

Report Attributes	Details
Market Size in 2022	USD 7.5 Billion
Revenue Forecast by 2030	USD 16.9 Billion
CAGR	12.4% from 2023 to 2030
Base Year	2022
Forecast Year	2023 to 2030
Key Players	Amcor PLC, Novamont S. P. A, Nature Works LLC, Coveris, Sealed Air, Alpha Packaging, Constantia Flexibles Group GmbH, Mondi PLC, Transcontinental Inc., ALPLA
Customization Options	Customized purchase options are available to meet any research needs. Explore customized purchase options

Key Questions Answered in the Bioplastic Packaging Market Report are:

• What is the current size and projected growth of the bioplastic packaging market?
• What are the major drivers and challenges affecting the bioplastic packaging market?
• What are the different types of bioplastics used for packaging and how do they compare to traditional plastic?
• What are the end-use industries for bioplastic packaging and what are their market shares?
• What are the different technologies used for bioplastic packaging production and their relative advantages and disadvantages?
• What are the regulations and standards governing the use of bioplastic packaging and how are they likely to change in the future?
• Who are the key players in the bioplastic packaging market and what are their market shares?
• What are the recent developments in the bioplastic packaging market, such as mergers and acquisitions, partnerships, and product launches?
• What are the regional and global trends in bioplastic packaging market and what is their impact on the market growth?
• What are the future opportunities and challenges for the bioplastic packaging market?

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