Fior Markets launched a study titled “Bioplastic Packaging Market by Type (Rigid Packaging, Flexible Packaging), Product (Starch Blends, Polylactic Acid, Polyethylene Terephthalate,Others), Application, Region Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2019to 2026”
The global bioplastic packaging market is expected to grow from USD xx Million in 2018 to USD xx Million by 2026 at a CAGR of xx% during the forecast period from 2019-2026.Growing consciousness among customers about the adverse impact of conventional plastics and high demand for sustainable packaging solution are two factors affecting the demand of the market.
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The rigid packaging segment is dominating the market with the highest share in 2018.
The type segment is classified as rigid packaging and flexible packaging. The rigid packaging segment is dominating the market in 2018. Rigid bioplastics applications are available for cosmetics packaging of compact powders, creams and lipsticks, well as beverage bottles. Materials such as PLA, bio-basedPE, or bio-based PET are used for rigid packaging.
The food & beverages segment is dominating the market with the highest share in 2018.
The application segment is divided into segments such as food & beverages, consumer goods, cosmetic & personal care, pharmaceuticals and others. The food & beverages segment is dominating the market with the highest share in 2018 owing to an early adopter of the bioplastic packaging solutions. Several SMEs, as well as bigger F&B companies, are already using bioplastic for their packaging applications. For instance, in 2013, companies such as Coca-Cola, Heinz, P&G, and Unilever among others joined the World Wildlife Fund to introduce the Bioplastic Feedstock Alliance.
Starch blends segment is dominating the market with the highest share in 2018.
Product segment includes starch blends, polylactic acid, polyethylene terephthalate, polyhydroxyalkanoates, polyethylene and others. The starch blends segment is dominating the bioplastic packaging market in 2018.Starch-based bioplastics are often blended with biodegradable polyesters to produce starch/polylactic acid, starch/polycaprolactone or starch/Ecoflex (polybutyleneadipate-co-terephthalate produced by BASF blends.
Aerospace & defense segment is expected to hold the largest share of 39.16% during the forecast period
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Regional Segmentation Analysis:
The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. Europeis dominating the market with the highest share in 2018.Europe is dominating the market owing to strict regulations against consumption of non-recyclable plastics along with gaining popularity of sustainable packaging in manufacturing industry. Supportive government policies in Europe is also influencing the market growth.
The major players of market include DowDupont Inc., BASF SE, Mitsubishi Plastics Inc., NovamontS.p.A., Braskem S.A., NatureWorks LLC, Koninklijke DSM N.V., Innovia Films Ltd., and ECM BioFilms Inc.
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