all report title image
  • Published On : Dec 2022
  • Code : CMI1256
  • Industry : Packaging
  • Pages : 187
  • Formats :

A bioplastic is a biodegradable group of polymers that are manufactured using renewable-based sources. Conventional plastics is hazardous due to the impact on the environment and their heavy reliance on the oil and gas industry for raw materials such as naphtha. Conventional plastic is widely used for packaging of casings, electronics, and food products, amongst others. This, in turn, is negatively impacting the environment, leading to increasing land and marine pollution.

Global bioplastic packaging market was valued at US$ 10.60 Bn in 2021 in terms of revenue, exhibiting a CAGR of 29.34 % during the forecast period (2022 to 2030).

Drivers

The increasing support offered by the governments across the world for utilizing sustainable packaging solutions, such as bioplastics, as an alternative for traditional and petrochemical based plastic products is generating significant revenue generation opportunities in the global bioplastic packaging market. Furthermore, the rising awareness amongst the global population pertaining to the environmental impact of the conventional and single use plastic packaging solutions, is also triggering an increased demand for the novel and sustainable solutions from the global bioplastic packaging market. Additionally, the increasing ban of several governments across the world on using single use plastic products for packaging is also bolstering the rising usage of the products and solutions offered by the leaders in the global bioplastic packaging market.

The flexible plastic packaging industry’s growth was significantly impacted by the COVID-19 pandemic. In the pandemic scenario, various countries went under lockdown, to curb the escalating cases. Owing to this, the demand and supply chain have been disrupted, which has affected the worldwide market. The infrastructural projects, manufacturing units, industries, and various operations had to be put on hold owing to the pandemic situation.

 The unpredictable costs of the key raw materials that are used for developing packaging alongside the pandemic restricted the market’s development rate. On the bright side, the situation is getting back to normal, which can translate into a swift market recovery in the future.

Figure 1. Global Bioplastic Packaging Market Value Share (%), By Region, 2021

Bioplastic Packaging  | Coherent Market Insights

Market Restraints

The recycling process of plastic packaging waste can be extremely tedious, requiring state-of-the-art technologies and infrastructural facilities. This time-consuming procedure requires personnel expertise, which can mean slowed-down growth of the worldwide market.

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Bioplastic Packaging Market Report Coverage

Report Coverage Details
Base Year: 2021 Market Size in 2021: US$ 10.60 Bn
Historical Data for: 2017-2020 Estimated Year: 2022
Forecast Period 2022 to 2030 CAGR: 29.34 % Forecast Period: 2022-2030
Geographies covered:
  • By Region: North America, Latin America, Europe, Asia Pacific, Middle East and Africa.
Segments covered:
  • By Product Type: TPS, PLA, PHA, bio-PE, bio-PA, bio-PET, bio-PP, Others
  • By End-use: Food and Beverages, Consumer Goods, Pharmaceutical, Industrial Goods, Others
Companies covered:

BASF SE, Koninklijke DSM N.V., NatureWorks, LLC, Metabolix, Inc., and The Dow Chemical Company.

Growth Drivers:
  • Strict government guidelines against the consumption of non-recyclable plastics
  • High growth in the consumption of beverages and inventive packaging solutions
Restraints & Challenges:
  • The recycling process of plastic packaging waste can be extremely tedious, requiring state-of-the-art technologies and infrastructural facilities 

Market Trends

In the recycled material packaging segment, paper packaging is the largest market, followed by metal, glass and plastic. While the demand for recycled plastics remains strong, the material faces several challenges, including lack of affordable cost infrastructure for collection and sorting, international market competition for existing recovered materials and compliance with requirements related to food and drug content.

Driven by demand for sustainable packaging in countries like China and India, the biggest growth comes from the Asian market. The demand for sustainable practices is driving the market for greener packaging, which is boosted by a growing affluent and health-conscious middle-class population. Smithers Pira forecasts that Asia will be the largest market for sustainable packaging in 2018, accounting for 32 percent of the overall market.

Figure 2. Global Bioplastic Packaging Market value Share (%), By End-use Industry, 2021

Bioplastic Packaging  | Coherent Market Insights

Recent Developments

  • In May 2019, the Japanese government introduced a new policy to increase the use of plant-based bioplastics to tackle marine plastic waste. This move would see the nation recycle 100% of newly manufactured plastics and enable the use of bioplastics from plant-based sources by 2035. Initiatives taken by the players in the field of innovation or adoption strategies related to bioplastic packaging are expected to drive the growth of the global bio-plastic packaging market
  • in May 2019, scientists at Kaunas University of Technology (KTU) created a bioplastic for food packaging that decomposes in a compost bin in a couple of years. According to European Bioplastics.org, in 2019, global production capacities of bioplastics amounted to around 2.11 million tons, with over 53% of the volume destined for the packaging market.

Competitive Section

Major players operating in the global bioplastic packaging market include BASF SE, Koninklijke DSM N.V., NatureWorks, LLC, Metabolix, Inc., and The Dow Chemical Company., among others.

Bioplastic Packaging Market Size, Trends and Forecast to 2030

Bioplastic packaging uses plastics that are manufactured from biomass sources. The sources of these plastics are renewable such as corn starch, vegetable oils, and microbes. Bioplastics are gaining significant traction. This can be attributed to increasing consumer awareness regarding use of bioplastics coupled with innovative product development, which offers improved product performance. The food and beverages end-use industry is the largest consumer of bioplastics. Rampant use of conventional plastics has contributed to land, air and water pollution. The use of bioplastics is expected to reduce the issue of pollution arising from the use of conventional plastics.

Market Dynamics

Europe held the largest market share in the global bioplastic packaging market in 2021. This is owing to high consumer awareness, supportive government initiatives, and continuous innovation in biodegradable packaging the market. Stringent regulations over conventional plastic use in food, beverage, and medical packaging has led to increasing adoption of these. Under the Plastic Bags Directive in the EU, consumers cannot use more than 90 bags a year by 2022, down from the EU average of 200 bags a year. This is expected to boost both demand and manufacturing capacity of bioplastics in the region. Demand for bio-PET product is increasing due to rising End- Use Industry of it in the food & beverages end-use industry segment. Key players in the food and beverage industry such as Coca-Cola Company and PepsiCo have started introducing bioplastic packaging for their products.

Key features of the study:

  • This report provides in-depth analysis of the bioplastic packaging market and provides market size (US$ Billion and Kilo Tons) and Cumulative Annual Growth Rate (CAGR %) for the forecast period (2022–2030), considering 2021 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by the leading players
  • It profiles leading players in the global bioplastic packaging market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered as a part of this study include BASF SE, Koninklijke DSM N.V., Solvay S.A., Braskem S.A., Novamont S.p.A, NatureWorks, LLC, Metabolix, Inc., and DowDuPont Inc., among others.
  • Insights from this report would allow marketers and the management authorities of companies to make informed decisions regarding their future product launches, technology up-grades, market expansion, and marketing tactics
  • The global bioplastic packaging market report caters to various stakeholders in this industry, including investors, suppliers, manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the bioplastic packaging market

Detailed Segmentation:

  • Global Bioplastic Packaging Market, By Product Type:
    • TPS
    • PLA
    • PHA
    • Bio-PE
    • Bio-PA
    • Bio-PET
    • Bio-PP
    • Others
  • Global Bioplastic Packaging Market, By End- Use Industry:
    • Food & Beverages
    • Consumer Goods
    • Pharmaceutical
    • Industrial Goods
    • Others
  • Global Bioplastic packaging Market, By Geography:
    • North America
      • U.S.
    • Europe
      • U.K.
      • Germany
      • Italy
      • France
      • Russia
      • Rest of Europe
    • Asia Pacific
      • China
      • India
      • Japan
      • ASEAN
      • Australia
      • South Korea
      • Rest of Asia Pacific
    • Latin America
      • Brazil
      • Argentina
      • Rest of Latin America
    • Middle East
      • GCC
      • Israel
    • Africa
      • North Africa
      • Central Africa
      • South Africa
  • Company Profiles
    • BASF SE*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Solvay S.A.
    • Koninklijke N.V.
    • NatureWorks LLC
    • Arkema S.A.
    • Braskem S.A.
    • Metabolix Inc.
    • Novamont S.p.A
    • DowDuPont Inc.
    • Innovia Films Ltd.

Frequently Asked Questions

Global bioplastic packaging market was valued at around US$ 10.60 Bn in 2021.
The market was valued at US$ 10.60 Bn in 2021 in terms of revenue, exhibiting a CAGR of 29.34 % during the forecast period (2022 to 2030). 
Improvements in packaging and logistical efficiency (Reduce and Reuse)
Biodegradable packaging is relatively expensive than conventional plastic, owing to high manufacturing cost of biodegradable material and this is one of the major factors that is expected to hamper growth of the market over the forecast period.
Major players operating in the market include BASF SE, Koninklijke DSM N.V., NatureWorks, LLC, Metabolix, Inc., and The Dow Chemical Company., among others.
The market is estimated to grow at around 29.34% CAGR in the forecast period (2022-2030).

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