Global Bioplastic Packaging Market, 2013-2023
Bioplastic packaging materials are components derived from bio-based resins such as poly-lactic-acid (PLA), bio-PET, bio-PP, and PHA. These compounds possess characteristics like tensile strength and enhanced impact resistance which is said increases its useful applications especially for the food and beverages, the kitchen utensils and the electronics industries.
The global bioplastic packaging market has components that can be used for packaging of goods, which will ease shipments and handling of those goods. It will prevent the involvement of toxic substances into natural and organic products. Its properties are said to create convenience for the end users for many industries involved in the packaging of goods.
The report on bioplastic packaging market shows insights on the existing market scenario by conducting over 280 hours of primary and secondary research. As per the report, global bioplastic packaging market is growing its area and effective sphere of influence very fast and is gaining popularity. The global bioplastic packaging market is expected to grow in terms of revenue to US $ xxx million by the year 2023, which was earlier valued at US $ xxx million during the year 2018. Moreover, it is anticipated to rapidly rise a CAGR of xx % during this period.
Increasing consumer awareness towards consumption of eco-friendly products is a major driving key factor for the growth of The Global bioplastic packaging market. Consumers wanting to inculcate healthy lifestyle by shifting their preferences from synthetically derived chemical products to eco-friendly substitutes is predicted to trigger the bioplastic packaging market.Stringent rules and regulation by government bodies or official bodies of emerging economies regarding usage of toxic materials in the packaging of goods and food products can also be considered as driving forces for the global bioplastic packaging market.
A major hindrance to the bioplastics packaging market is the addition of chemical additives in the production of bioplastic packaging materials. Increasing health concerns relating to toxic components in any form of consumption can pose a threat to the bioplastics packaging market.
Increasing packaging demand from the food and beverages industry of emerging economies of countries like India and China will extenuate the growth of the bioplastics packaging market. The European regions also have a dominant market share in the global bioplastics packaging market. Other regions like the Northern American, the Asian Pacific and the Rest of the World would also act as a trigger event for the bioplastics packaging market influenced by their end-users from various industries.
Some of the major key players in the global bioplastics packaging market include Metabolix, Inc., The Dow Chemical Company (Dow), Novamont S.p.A, Nature WorksLLC and Innovia Films Ltd.
The research modus operandi starts with the bifurcation of different market segments of global bioplastic packaging market, followed by detection of factors affecting the growth each segment. Then, the market forecasts were built based on the inputs given by the business leaders across the global bioplastic packaging industry value chain. Market Krystal held more than 40 interviews for this study, details of which are mentioned:
By company type: Manufacturers (35%), Suppliers (35%), Consumers (10%), Researchers (10%), Independent industry consultant (10%)
By geography: North America (35%), Asia (30%), Europe (35%)
By designation: Top level (40%), Operation level (30%), Mid-level (30%)