Europe Bioplastic Packaging Market

Europe Bioplastic Packaging Market Size 2023-2028

The Europe Bioplastic Packaging Market will grow from US$ xx billion in 2022 to US$ xx billion in 2028, recording a compound annual growth rate of above xx% over the forecast period from 2023-2028

Bioplastics are mainly a biodegradable group of polymers, which can be produced from renewable resources. Traditional plastics are more and more becoming unpopular owing to the fact that they can last for a very long time can be dangerous to present life and the ecosystem in common, and rely heavily on the oil and gas business for raw materials. Traditional plastics are employed in almost all businesses as material for casings, electronics, packaging, and several other products. This high volume of products made out of materials that will not be degraded for years is creating a high level of worry, particularly in growing economies, and rising ones are swiftly following suit. The Bioplastic Packaging market is segmented with the presence of numerous manufacturers and the competitive dynamics in the market are estimated to change in the future years.

The rising environmental worries owing to increasing pollution have led to a customer shift toward biodegradable material-based products. Many end-users, including retailers and food processing businesses, are focusing on providing products in bioplastic packaging to cater to the demand for sustainable packaging solutions. For example, Waitrose & Partners declared its plan to replace plastic bags with bioplastic bags in September 2018. Co-operative Group announced the replacement of its all single-use plastic bags with biodegradable substitutes involving bioplastic bags. Hence, such an increase in the adoption of this packaging by different end-users will drive the expansion of the global bioplastic packaging market at a CAGR of about 18% during the foreseen period, which includes the contribution from developed economies like Europe.

Market Segmentation:

Europe Bioplastic Packaging Market On the basis of Type:

• Bio-PET

• PLA

• PBS

• Bio-PP

Bio-PET sector leads the European bioplastic packaging market owing to high employment in bottling and packaging businesses. It has similar properties to traditional PET and is broadly employed in the making of different products like bottles, food containers, bags, and carry-away cups.

Europe Bioplastic Packaging Market On the basis of Application:

• Plastic bottles

• Packaging

The packaging sector leads the regional market on the basis of application and is estimated to be the quickest-rising application in the forecast period. Bioplastics are widely employed in the packaging business for food packaging, pharmaceutical packaging, and goods packaging.

Europe Bioplastic Packaging Market Geographical Analysis:

Europe Bioplastic Packaging Industry includes

• UK
• France
• Spain
• Germany
• Italy

Europe is presently among the biggest regional markets for bioplastic packaging. The EU has been supportive of numerous environmental protection initiatives and numerous countries in Europe have boosted bioplastic packaging, driving the regional market. Biodegradable plastic has a broader application in Europe than in other regions. Germany's bioplastic packaging market is the key area on account of stringent legislative emphasis in Europe. 

Europe Bioplastic Packaging Market Key Players:

Major companies plying their trade in the Europe Bioplastic Packaging Market include BASF SE, Dow Chemical Company, Koninklijke DSM N.V., Eastman Chemical Company, IFS chemicals, NatureWorks LLC, Metabolix Inc., Arkema Group, Novamont S.p.A., Albis Plastics, Innovia Films, Biome Bioplastics Limited., FKuR Kunststoff, Grace Biotech, and DaniMer Scientific LLC. Since only some companies are participating in the expansion of the bioplastics packaging market, the contribution of each one of them is very instrumental toward market growth. And, a stiff competition is being estimated among such businesses with respect to accounting for a bigger market share.