The Bioplastics Packaging market was valued at xxx million USD with a CAGR xx% from 2015-2019. Subsequently, it will touch xxx million USD in 2020 with a CAGR xx % from 2020 to 2025.
Bioplastics are primarily a biodegradable group of polymers that can be manufactured from renewable sources. Conventional plastics are increasingly becoming unpopular due to the fact that they can last for a very long time, can be hazardous to current life and the ecosystem in general, and rely heavily on the oil and gas industry for raw materials. Conventional plastics are used in nearly all industries as material for casings, electronics, packaging, and many other products. This high volume of products made out of materials that will not be degraded for centuries is creating a high level of concern, especially in developing economies, and emerging ones are swiftly following suit.
Packaging solutions have incurred a predominant significance among every F&B company. Manufacturers of food products and beverages continue to adopt the most suitable packaging mechanism, befitting the packaging requirements of various kinds of products. Bioplastics packaging is, thus, expected to gain prominence in the global F&B sector, primarily due to the several advantages that it endures. Obtained from biomass sources, bioplastics or biopolymers are innovative packaging materials for food materials, the demand for which is deeply integrated to consumer preferences.
Preferences of consumers for organic/natural materials is slated to impact the growth of bioplastics packaging market. Along with this, government initiatives enacted in various countries and regions in the world promote the production of bioplastics over that of hazardous polymer and plastic materials. Besides the consumers\' keen inclination towards eco-friendly products and favorable support from industrial regulatory bodies and governments, the growth of the global bioplastics packaging market will also be driven by the sustainability of bioplastics packaging materials compared to others.
In the global Bioplastics Packaging market, This report focuses particularly in North America, South America, Europe and Asia-Pacific, and Middle East and Africa. This report classifies the market on the basis of application, type, regions, and manufactures.
In global market, the following companies are covered:
The Dow Chemical Company (Dow)
Novamont
NatureWorks
Innovia Films
Braskem
BASF
Arkema
Koninklijke
Market Segment by Product Type:
Bio-PET
PLA & PLA Blends
Starch Blends
Others
Market Segment by Application:
Food & Beverages
Kitchen Utensils
Electronics Industries
The research provides answers to the following key questions:
• What is the estimated growth rate and market share and size of the Bioplastics Packaging market for the forecast period 2020 - 2025?
• What are the driving forces in the Bioplastics Packaging market for the forecast period 2020 - 2025?
• Who are the prominent market players and how have they gained a competitive edge over other competitors?
• What are the market trends influencing the progress of the Bioplastics Packaging industry worldwide?
• What are the major challenges and threats restricting the progress of the industry?
• What opportunities does the market hold for the prominent market players?