The Global Bioplastic Packaging Market to Reach Revenues of Over $9.9 Billion by 2024 - Market Research by Arizton

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Oct 24, 2019, 09:00 ET

CHICAGO, Oct. 24, 2019 /PRNewswire/ -- According to Arizton's recent research report, Bioplastic Packaging Market - Global Outlook and Forecast 2019–2024 is expected to grow at a CAGR of over 4% during the forecast period.

Key Highlights Offered in the Report:

The decline in the availability of crude oil on account of high rates is expected to lead to a resource shortage situation for conventional plastics. Consequently, natural polymers and polymers from renewable resources stand out as an alternative to fossil fuel-based plastics.
Biodegradable plastic packaging requires efficient industrial composting facilities that are currently lacking across the regions. Hence, the impact of bioplastic packaging on litter reduction is minimal.
Starch-based bioplastics are expected to play a major role in the usage of bioplastic for bulk packaging. Since bulk packaging is used for many cycles until they are discarded or recycled, the price-performance ratio is comparatively better for bioplastic bulk packaging than bioplastic consumer packaging.
From the cost perspective, a Bio-PET bottle is more than 45% costlier than petroleum-based PET bottles. Also, the current preference among vendors is for non-food bio-based bioplastic suppliers rather than food-based feedstock suppliers as the cost difference between the two is over 30%.
The price of Bio-PET is more in the APAC region due to limited production capacities in the region, especially in China. Hence, there is a higher dependence on imports, which are priced at premium. The cost in Europe is comparatively lower, hence the procurement and the final product cost are low in the European region. (In 2017, the price of Bio-PET was less than €3/kg in Europe, while it was over $3/kg in APAC).

Key Offerings:

Market Size & Forecast by Revenue | 2018−2024
Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
Market Segmentation – A detailed analysis by packaging, type, application, and geography.
Competitive Landscape – Profile of 9 vendors

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Bioplastic Packaging Market – Segmentation

The presence of strict regulations in Europe and North Americas is boosting the demand for bioplastic packaging.
The increased pressure on F&B, consumer goods, and pharmaceutical industries to reduce dependency on plastic is regularly mounting, thereby increasing the demand for bioplastic.
The market for bioplastic packaging is expected to be more compostable, with high durability usage in both consumer and industrial packaging.

Market Segmentation by Packaging

Flexible
Rigid

Market Segmentation by Type

Bio-based and Non-biodegradable
Biodegradable

Market Segmentation by Application

Food and Beverages
Personal Care
Other Applications

Market Segmentation by Geography

North America
Europe
MEA
APAC
Latin America

Bioplastic Packaging Market – Dynamics

The emphasis on recycling and reusing of packaging materials is growing worldwide. The use of organically biodegradable and renewable material sourced is increasing. The increasing popularity of sustainable products and the growing food safety concerns are leading the change in the plastics and packaging industry. Bioplastic products are being increasingly used across both food and non-food categories.

Key Drivers and Trends fueling Market Growth:

Bioplastics for Bulk Packaging
Focus on Sustainable Packaging
Reduction in Landfill and Improved Compostability

Bioplastic Packaging Market – Geography

The North American market currently utilizes recycled packaging material in high volumes. However, the recycling rates of plastic packaging in US (10%) is less than Europe and China, which are over 40% and 20%, respectively. The shift to bioplastic packaging is expected to gain traction during the forecast period as the commercial aspect of bioplastic is fine-tuned with supply chain disruptions rectified. The growing demand for environment-friendly products, the growth in packaging volumes, and increase in plastic waste control rules are expected to aid the growth of bioplastic packaging in the APAC region. The plastics and plastic packaging industry in Europe is focusing on meeting the circular economy targets so as to meet stringent regulations with respect to sustainable business models. The sustainable business emphasis is expected to have a higher impact on plastics and plastic packaging industry in Europe.

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Market Segmentation by Geography

North America

US
Canada

Europe

France
Germany
UK
Italy
Spain

APAC

China
Japan
India
Australia
South Korea

Latin America

Chile
Brazil
Mexico
Argentina

MEA

UAE
Israel
Saudi Arabia
Turkey

Major Vendors Profiled in the Report are:

Amcor
Clondalkin
Coopbox
Futamura
Huhtamaki
Sealed Air
Sonoco
Sphere
Tagleef Industries

Renewable Raw Material Suppliers

Cargill
Total
Corbion
Tereos
Reverdia
Roquette

Bioplastic Manufacturers

BASF
Braskem
Koninklijke DSM N.V
Chemical Company
DowDuPont
NatureWorks
Novamont
Biotec
Perstorp
Greendot

Explore our logistics and packaging profiles to know more about the industry.

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About Arizton:

Arizton – Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.

We offer comprehensive market research reports on industries such as consumer goods & retail technology, automotive and mobility, smart tech, healthcare, and life sciences, industrial machinery, chemicals and materials, IT and media, logistics and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.

Arizton comprises a team of exuberant and well-experienced analysts who have mastered in generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.

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SOURCE Arizton Advisory & Intelligence