Bioplastic Packaging Market Overview:
Bioplastic Packaging Market size is expected to reach USD 40 billion by 2025, increasing from USD 15 billion in 2019, with a CAGR of around 14.9% throughout the forecast period.
Bioplastic packaging is considered as an answer to the long-time non-degradability issue related to regular plastic products. These bioplastics are made from agriculture by-products, vegetable fats, oils, sugarcane, and others, which can be easily decomposed in a short time. The increasing awareness across the world about the hazardous effects of petroleum and natural gas-derived plastic products to both humans and the environment has accelerated the need for bioplastics.
Bioplastic Packaging Market Drivers and Restraints:
The global bioplastic packaging market is majorly driven by the concerns related to the regular plastic that takes several years to decompose. The dumping of plastic products in water and land has affected the ecosystem and also the terrestrial and aquatic creatures. This condition has resulted in the development of alternative solutions to plastic, such as bioplastics. The increasing demand from the food and beverages segment for an affordable and efficient packaging system propels the global bioplastic packaging industry. The rising consumer preference for organic and eco-friendly packaging solutions for food products, along with stringent government regulations like the ban of traditional plastic products has acted as a catalyst for the rapid development of the bioplastic packaging business.
On the other hand, there are also a few challenges associated with this industry, such as the use of chemicals in the manufacturing of bioplastics that can be harmful in nature. In addition, the increased complexities in the separation of these materials from disposal sites are also acting as a significant deterrent to business expansion.
Recent developments in the market:
The bioplastic packaging market is segmented on the basis of product type, packaging type, and end-user.
By Product Type:
By Packaging Type:
Segmentation Growth Insights:
Based on product type, the biodegradable polymers segment is predicted to garner the highest growth rate in the coming years, owing to the increasing consumer preference for eco-friendly and edible packaging options. The growing advances in technology have supported the manufacturing of plastic products from biodegradable polymers, which will revolutionize the existing scenario in the food and beverage industry.
On the basis of application, the food & beverages segment accounted for the dominant share in the global bioplastic packaging market in the review period and the same is expected to continue in the foreseen years. The rise in investments by leading giants in the F&B sector has resulted in the increased demand for biodegradable packaging solutions like bioplastics. With more consumer approval, the bioplastics market will witness tremendous need even in other industries like consumer goods, pharmaceuticals, catering, and so on.
Packaging Type Analysis:
Based on the packaging type, the rigid bioplastic packaging segment will register a noteworthy growth rate in the estimated period, attributing to the augmenting demand for such packaging in foodservice and fast-food joints around the world. The increasing culture of food takeaways has fuelled the demand for rigid packaging, which can prevent food from any external damage.
Geographically, the global bioplastic packaging market is segregated in the regions of North America, Europe, Asia Pacific, the Middle East, and Africa, and Latin America.
Europe's bioplastic packaging market is predicted to rule the global business in the forecast period due to the favorable government policies on the usage of biodegradable products and growing consumer awareness. The Asia Pacific bioplastic packaging market is likely to witness the highest growth rate in the same period. The growing packaging industry, supported by the growth in the food and beverages and pharmaceutical sectors in the nations like India, China, Japan, etc., has created an immense growth potential for the bioplastic packaging manufacturers in the Asia Pacific region. The availability of raw materials, cheap labor, and stringent government regulations will fuel the bioplastic packaging business in the APAC area.
Moreover, the abundant supply of sugarcane and oilseeds in countries like Brazil will act as a prominent factor for the business expansion in the Latin American bioplastic packaging market.
Competition in the market:
The bioplastic packaging market is consolidated with numerous market players that are investing heavily in the research and development activities to introduce novel products and increase their customer base.
BASF SE, based in Germany, is the prominent player in the global market for biodegradable plastic products. Good Natured Products Inc., is another noteworthy company in this business that witnessed around 80% increase in the previous year. Other prominent manufacturers here are Mitsubishi Chemicals, Biome Technologies, Avantium, NatureWorks, Corbion and others.
Key players of the market:
Some of the key players in the global bioplastic packaging market are
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Bioplastic Packaging Market, By Product Type
6.1.1 Biodegradable Polymer
6.1.2 Non-biodegradable Polymer
6.1.3 Market Size Estimations & Forecasts (2019-2024)
6.1.4 Y-o-Y Growth Rate Analysis
6.1.5 Market Attractiveness Index
6.2 Bioplastic Packaging Market, By Packaging Type
6.2.3 Market Size Estimations & Forecasts (2019-2024)
6.2.4 Y-o-Y Growth Rate Analysis
6.2.5 Market Attractiveness Index
6.3 Bioplastic Packaging Market, By Application
6.3.1 Food & Beverages
6.3.3 Consumer Goods
6.3.5 Market Size Estimations & Forecasts (2019-2024)
6.3.6 Y-o-Y Growth Rate Analysis
6.3.7 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2018 - 2024)
7.2.1 By Country
7.2.2 By Product Type
7.2.3 By Packaging Type
7.2.4 By Application
7.3.1 By Country
184.108.40.206 Rest of Europe
7.3.2 By Product Type
7.3.3 By Packaging Type
7.3.4 By Application
7.4 Asia Pacific
7.4.1 By Country
220.127.116.11 South Korea
18.104.22.168 South East Asia
22.214.171.124 Australia & NZ
126.96.36.199 Rest of Asia-Pacific
7.4.2 By Product Type
7.4.3 By Packaging Type
7.4.4 By Application
7.5 Latin America
7.5.1 By Country
188.8.131.52 Rest of Latin America
7.5.2 By Product Type
7.5.3 By Packaging Type
7.5.4 By Application
7.6 Middle East and Africa
7.6.1 By Country
184.108.40.206 Middle East
7.6.2 By Product Type
7.6.3 By Packaging Type
7.6.4 By Application
8. Key Player Analysis
8.1 BASF SE
8.1.1 Business Description
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Good Natured Products Inc.
8.3 Dow Chemicals Company
8.4 Mitsubishi Chemicals
8.6 Biome Technologies
8.7 Braskern SA
8.8 IFS Chemicals Ltd
9. Market Outlook & Investment Opportunities
List of Tables
List of Figures