BASF SE, Dow Chemical Company, Koninklijke DSM N.V., Eastman Chemical Company, NatureWorks LLC, Metabolix Inc., Arkema Group, Novamont S.p.A., Biome Bioplastics Limited., FKuR Kunststoff and DaniMer Scientific LLC are some of the prominent players at the forefront of competition in the Global Bioplastic Packaging Market and are profiled in MRFR Analysis.
Bioplastic Packaging Market – Overview
Bioplastic Packaging material is made with Biological Waxes and Biopolymers. Biopolymers optimized by processing Polylactide (PLA) and Polyhydroxyalkanoates (PHAs) using additives offer excellent oxygen barrier in the packaging and therefore, are used to make barrier layers. Concurrently, biological waxes obtained from plant leaves offer steam barrier, useful in foodstuff packaging. Being completely biodegradable, Bioplastic offer innovative solutions to improve recycling quality. Facilitating separate collection of bio waste Bioplastic help divert organic waste from other recycling streams while creating strong secondary raw material and opportunities for renewable energy generation. Hence Bioplastic is considered as ecological, gentle on environment and helpful in minizing carbon footprints.
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Due to all these qualities, Bioplastic is extensively used for food packaging and pharmaceutical packaging. Bioplastic Packaging is also used in cosmetics and personal care packaging; they are increasingly used in fashion industry for apparel packaging, zipper bags and stand-up pouches. All these applications contribute to the phenomenal traction the Bioplastic Packaging Market is gaining currently. The Global Bioplastic Packaging Market is accruing rapidly; and burgeoning Food & Beverages Industry coupled with Pharmaceutical industries are propelling the market growth largely.
Accrediting the outstanding growth prospect the Bioplastic Packaging Market is demonstrating currently and the potential of the market to accrue pervasively in the years to come; the Market Research Future recently published a brilliant study report giving out the complete market prognosis up till 2021. According to which the global Bioplastic Packaging Market is booming and expected to gain further prominence over the forecast period. The Market is forecasted to demonstrate a surplus growth by 2021, registering a record breaking CAGR during the anticipated period (2016 – 2021).
The Global Bioplastic Packaging Market is predominantly driven by the awareness towards the advantages a biodegradable material offers as a packaging solution for consumable goods. Other factors that define the heightened demand for consumable goods packaging include changing life style and economical growth which eventually drives the Bioplastic Packaging Market growth pervasively. Evidently, Technological advancements transpired in the field of Bioplastic processes and innovative packaging solutions play a significant role, fostering the Bioplastic Packaging Market growth to an extent. Additionally, rising investments than ever made in innovation and growth coupled with stronger support from governments worldwide are further accelerating the growth momentum of the Bioplastic Packaging Market on the global platform.
On the other hand, MRFR Analysis also indicates that in the future, Bioplastics will be more costly than conventional plastics which will make the Bioplastic packaging solution look comparatively expensive therefore subduing its market growth. However, consumers will certainly appreciate the ecological, environmentally friendly quality the Bioplastic Packaging offers. Similarly, paramount concerns pertaining especially to the growing carbon footprints will make the Bioplastic Packaging look comparatively worthwhile for the pricing. This assures a pervasive growth for the Bioplastic Packaging Market for the decades to come.
Global Bioplastic Packaging Market– Competitive Analysis
Characterized by the presence of several well-established and small players, the global Market of Bioplastic Packaging appears to be highly competitive. Well established players incorporate acquisition, collaboration, partnership, expansion, and technology launch in order to gain competitive advantage in this market and to maintain their market position. Many of the Key players in the industry are expanding their existing production capacities in response to the increased demand for innovative and sustainable biopolymers by brands and consumers.
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Industry/ Innovation/ Related News:
30 Nov. 2017 – Novamont (Italy) declared that further to the the acquisition of a plant in Patrica in 2016, the company is aiming to double production capacity of the Origo-Bi biopolyester range, from 50,000 to 100,000 tonnes per year by April 2018, as well as increasing its renewable material content by beginning the second phase of the redevelopment project to double the production capacity of the ORIGO-BI range, which are utilised to improve the technical, economic and environmental properties of Mater-Bi biodegradable and compostable bioplastics. Doubling the production capacity of the Patrica plant is a further step towards building a bioplastic and biochemical supply chain integrating research, agriculture and industry and developing products that can deliver solutions to major environmental problems.
29 Nov. 2017 – Braskem America Inc., (USA) announced that after steadily making strides in a broad range of packaging applications (most recently, the first ‘green’ PE rotomolded compound was launched through the company’s partnership with A.Schulman, Fairlawn, N.J.) Now has partnered with ProAmpac’s Trinity Packaging Division, Armonk, N.Y., to help Maryland’s Montgomery County Department of Environmental Protection (DEP) and its contractor Maryland Environmental Service (MES) to achieve their carbon reduction and environmental preservation objectives. DEP and MES led the initiative to find a carbon reduction packaging alternative for their composting program in order to support their core mission.
17 Nov. 2017 – Bulldog Skincare For Men (UK) announced that they are the first men’s skincare brand in the world to use plastic from sugarcane in packaging. For which the company has partnered with RPC MandH and resins giant Braskem to make a bioplastic packaging.
13 Nov. 2017 – Titan Hemp, a provider of hemp commodities and extracts, and Green Growers Technology Alliance (GGTA) declared their partnership to develop plant-based materials for a range of manufacturing applications including packaging. As part of this effort, the partners will create a joint venture new company, Titan BioPlastics, which will focus on creating plant-based composites and products for range of manufacturing applications, including packaging, nanotechnology, bio-polymers, construction, and bioplastics.
Bioplastic Packaging Market – Segmentations
Global Bioplastic Packaging Market is segmented in to 3Key dynamics for an easy grasp and enhanced understanding.
Segmentation by Type : Comprises – Bio-PET, PLA & PLA blends, Bio-PP, and other.
Segmentation by Application : Comprises – Food & Beverages, Pharmaceuticals, Food service, and other.
Segmentation by Region : Comprises – Geographical Regions.
Bioplastic Packaging Market – Regional Analysis
APAC dominates the global Bioplastic Packaging market with its fast growing market worldwide. It will expand at a substantial CAGR over the forecast period. The region is expected to show rapid growth in food industry due to impressive urbanization and high dependency on packaged food products. The pharmaceutical industry is also contributing to the growth of bioplastic packaging market with high demand for such packaging. It is followed by North America which is expected to grow rapidly over its previous growth records by 2021. Europe and Rest of the World are also expected to grow at a considerable CAGR from 2016 to 2021.
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