According to the latest report by IMARC Group, titled “Bioplastics Packaging Market Report by Product Type (PLA, TPS, PHA, Bio-PE, Bio-PA, Bio-PET, Bio-PP, and Others), Packaging Type (Flexible Plastic Packaging, Rigid Plastic Packaging), End User (Food, Beverages, Consumer Goods, Pharmaceuticals, Industrial Goods, and Others), and Region 2023-2028,” the global bioplastics packaging market size reached US$ 6.0 Billion in 2022. Bioplastics packaging refers to the use of bioplastics in creating containers, wraps, and other packaging materials. Unlike traditional plastics derived from petrochemicals, bioplastics are made from renewable resources like cornstarch, sugarcane, or cellulose. These materials can be designed to be biodegradable or compostable, thereby reducing their environmental impact. Bioplastics packaging is increasingly becoming popular as consumers and governments alike seek more sustainable alternatives to conventional plastics. This eco-friendly approach aims to reduce plastic waste and lower the carbon footprint of packaging. As a result, bioplastics packaging is gaining traction in the food and beverage, cosmetics, and pharmaceuticals industries across the globe.
Global Bioplastics Packaging Market Trends:
The growing consumer awareness and demand for eco-friendly packaging solutions represents the primary factor driving market growth. As people become more conscious of the environmental impact of their choices, industries are pressured to offer less damaging alternatives to the planet. Moreover, the implementation of stringent government regulations on single-use plastics and waste management that compels companies to explore and adopt bioplastics is positively influencing market growth. Along with this, various incentives and subsidies for using sustainable materials have accelerated the adoption of bioplastics in businesses, thereby fueling market growth. Additionally, numerous technological advancements, including the development of biodegradable and compostable materials, which make bioplastics more cost-effective and functional, are other major growth-inducing factors. Besides this, the rising integration of bioplastics into packaging strategies that help enhance brand image and consumer loyalty is propelling market growth. Furthermore, ongoing innovations that reduce the cost barriers that make it a viable option for companies across various sectors are contributing to market growth. Looking forward, the market value is projected to reach US$ 13.4 Billion by 2028, expanding at a CAGR of 14.03% during 2023-2028.
- Based on the product type, the market has been divided into PLA, TPS, PHA, bio-PE, bio-PA, bio-PET, bio-PP, and others. Currently, PLA accounts for the majority of the market share.
- On the basis of the packaging type, the market has been bifurcated into flexible and rigid plastic packaging, wherein flexible plastic packaging represents the leading segment.
- The market has been classified based on the end user into food, beverages, consumer goods, pharmaceuticals, industrial goods, and others. At present, food represents the most popular end user segment.
- Region-wise, the market has been segmented into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and Middle East and Africa. Amongst these, Europe holds the leading position in the market.
- The competitive landscape of the market has also been examined, with some of the key players being ALPAGRO Packaging, Amcor plc, Arkema S.A., BASF SE, Biome Bioplastics Limited (Biome Technologies plc), Braskem S.A., Eastman Chemical Company, Koninklijke DSM N.V., Mondi PLC, NatureWorks LLC (Cargill Incorporated), Novamont S.p.A, Tetra Laval International SA, TIPA Corp Ltd., and WestRock Company.
|Base Year of the Analysis
| Historical Period
|Scope of the Report
||Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment:
- Product Type
- Packaging Type
- End User
|Product Types Covered
||PLA, TPS, PHA, Bio-PE, Bio-PA, Bio-PET, Bio-PP, Others
|Packaging Types Covered
||Flexible Plastic Packaging, Rigid Plastic Packaging
|End Users Covered
||Food, Beverages, Consumer Goods, Pharmaceuticals, Industrial Goods, Others
||Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||ALPAGRO Packaging, Amcor plc, Arkema S.A., BASF SE, Biome Bioplastics Limited (Biome Technologies plc), Braskem S.A., Eastman Chemical Company, Koninklijke DSM N.V., Mondi PLC, NatureWorks LLC (Cargill Incorporated), Novamont S.p.A, Tetra Laval International SA, TIPA Corp Ltd., WestRock Company, etc.
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