Bioplastic Packaging Market to be Worth $50.57 Billion by 2030: Grand View Research, Inc.

SAN FRANCISCO, Nov. 8, 2022 /PRNewswire/ -- The global bioplastic packaging market size is expected to reach USD 50.57 billion by 2030, according to a new report by Grand View Research, Inc., expanding at a CAGR of 16.9% from 2022 to 2030. The growth of the global plastics packaging industry is likely to be driven by the increasing consumption of plastics in packaging food, beverages, cosmetics, personal care, and consumer goods.

Key Industry Insights & Findings from the report:

• The biodegradable material segment is expected to expand at the highest CAGR of 17.3% from 2022 to 2030, aided by the increasing demand for sustainable packaging, strict regulation of commercial plastics, and growing consumer preference for eco-friendly plastic.
• The flexible packaging segment is projected to advance at the fastest CAGR of 18.1% during the forecast period, owing to its applicability and functionality of offering excellent protection against environmental factors (air and water) to the packaged goods, wide availability, lightweight, and less complex manufacturing process than rigid packaging.
• Food and beverages emerged as the leading application segment and is further expected to expand at a CAGR of 17.1% from 2022 to 2030.
• The global bioplastics packaging market is highly competitive and fragmented in nature, with the presence of various key players such as BASF SE, NatureWorks LLC, SABIC, Braskem, M&G Chemicals, Teijin Limited, and Toray Industries, as well as a few medium- and small-scale regional players across the globe.

Read 140-page full market research report for more Insights, "Bioplastic Packaging Market Size, Share & Trends Analysis Report By Material (Biodegradable, Non-biodegradable), By Type (Flexible, Rigid), By Application, By Region, And Segment Forecasts, 2022 - 2030"

Bioplastic Packaging Market Growth & Trends

Bioplastics are plastics that are made from renewable sources such as corn, sugarcane, potato, wheat, rice, vegetable oil, or cellulose. There are two types of bioplastics, namely biodegradable plastics and non-biodegradable plastics. Biodegradable plastics include polylactic acid, starch blends, PBAT, and PBS, while non-biodegradable plastics include polyethylene, polyethylene terephthalate, polyamide, and polytrimethylene terephthalate.

Bioplastic packaging is considered to be an environment-friendly solution and helps enhance the final product's appearance. Growing usage of bioplastics in flexible packaging is expected to fuel market growth. The growing demand for food, due to the rising global population, is a key factor driving the demand for flexible packaging. Moreover, the packaged food industry in the U.S. and Europe has grown tremendously in recent years. Furthermore, increasing concerns regarding toxins in petrochemicals, along with depleting crude oil reserves, are driving the development of bio-based polymers.

Regulations by most governments restricting the consumption of petroleum-based plastics in certain applications such as food packaging and medical devices are expected to further incentivize bioplastic production in the plastics industry. However, the high cost as compared to conventional plastics is a major factor restraining the market growth. Currently, low prices of conventional plastics are making it difficult for bioplastics to achieve competitive pricing.

Bioplastic Packaging Market Segmentation

Grand View Research has segmented the global bioplastic packaging market based on material, type, application, and region

Bioplastic Packaging Market - Material Outlook (Revenue, USD Million, 2017 - 2030)

• Biodegradable
• Polylactic Acid
• Starch Blends
• Polybutylene Adipate Terephthalate (PBAT)
• Polybutylene Succinate (PBS)
• Others
• Non-biodegradable
• Bio Polyethylene
• Bio Polyethylene Terephthalate
• Bio Polyamide
• Others

Bioplastic Packaging Market - Type Outlook (Revenue, USD Million, 2017 - 2030)

• Flexible
• Rigid

Bioplastic Packaging Market - Application Outlook (Revenue, USD Million, 2017 - 2030)

• Food & Beverages
• Consumer Goods
• Cosmetic & Personal Care
• Pharmaceuticals
• Others

Bioplastic Packaging Market - Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America
• U.S.
• Canada
• Mexico
• Europe
• U.K.
• Germany
• France
• Italy
• Spain
• Asia Pacific
• China
• Japan
• India
• South Korea
• Australia
• Central & South America (CSA)
• Brazil
• Middle East & Africa (MEA)
• Saudi Arabia

List of Key Players in Bioplastic Packaging Market

• Amcor Plc.
• Novamont S.p.A
• NatureWorks, LLC
• Coveris
• Sealed Air
• Alpha Packaging
• Constantia Flexibles
• Mondi
• Transcontinental Inc.
• ALPLA

Check out more related studies published by Grand View Research:

• Canada Plastic Packaging Market - The Canada plastic packaging market size is expected to reach USD 13.76 billion by 2030, according to a new report by Grand View Research, Inc. The market is anticipated to expand at a CAGR of 3.8% from 2022 to 2030. The growing demand for plastic from end-use industries and the increasing demand for convenient and efficient packaging are the factors expected to further fuel the growth of the industry.
• Pouches Market - The global pouches market size is expected to reach USD 55.88 billion by 2028, expanding at a CAGR of 5.5%, according to a new report by Grand View Research, Inc. Rising demand for low-cost, convenient, shelf appealing, and lightweight packaging by end-use industries, including food and beverages, healthcare, personal care and cosmetics, and home care, is likely to fuel market growth.
• Stand-Up Pouches Market - The global stand-up pouches market size is projected to reach USD 16.01 billion by 2025, according to a new report by Grand View Research, Inc. Rising demand for the product from several industries, including food & beverages, pet food, and personal care & cosmetics, is anticipated to boost the market growth during the forecast period.

GVR has curated a list of micro markets to provide a holistic view of industry performance. We focus on critical applications and end-use to give all stakeholders a detailed perspective. The data books are available in interactive dashboards and services start at US$ 500 per month.

Browse Micro-Markets & Industry Data Books from Grand View Research

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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SOURCE Grand View Research, Inc

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