Bioplastics are made by converting sugars in plants into plastic, in the United States, that sugar comes from corn, other countries use sugar cane, sugar beets, wheat, or potatoes, and this makes bioplastics renewable and better for the environment than conventional plastics. Unlike conventional plastics made from petroleum, bioplastics are made from renewable biomass sources such as vegetable fats and oils, corn starch, straw, woodchips, sawdust, recycled food waste, etc. Many types of bioplastics offer properties similar to conventional plastics such as durability, flexibility, etc. Food packaging should be natural and environmentally friendly, bioplastics or biopolymers from renewable resources have led to increasing industry interest in petroleum-based polymers as a solution to environmental problems and limited resources. Some bioplastics offer additional functionality, such as biodegradability or compostability, and improved properties, such as increased heat resistance, enhanced moisture or gas barriers, greater stiffness and flexibility, or improved durability. A key benefit of biodegradable packaging is its ability to reduce overall waste in the food industry, instead of discarding tons of plastic that have lain in landfills for decades, biodegradable food packaging breaks down naturally and completely. Bioplastic packaging options include bags for compost, agricultural foil, horticultural products, nursery products, toys and textiles, they are also often used for disposable cups, salad bowls, plates, and Clingfilm and food containers. Bioplastics are plastic materials produced from renewable biomass sources, such as vegetable fats and oils, corn starch, starch, straw, woodchips, sawdust, recycled food waste, etc. Among the oft-cited benefits of bioplastics are less use of fossil fuel sources, smaller carbon footprint and faster decomposition, bioplastics are also less toxic and do not contain bisphenol A, a hormone disruptor that is found in conventional plastics. Biodegradable plastic often takes less energy to produce than conventional plastic, which means it consumes less fossil fuel and emits less greenhouse gas emissions that harm the planet, releasing less harmful substances when it breaks down. Factors driving the market growth include increasing use of renewable and bio-based products, growing demand from the flexible packaging industry, and exceptional properties of bioplastics such as contributing less to carbon footprint and decomposing faster than plastics.
The report “Bioplastic Packaging Market, By Product Type (Bio-PET, PLA and PLA Blends, Starch Blends, Other biodegradables), By Application (Plastic Bottles, Packaging and Others), By Packaging Type (Rigid, Flexible), By End-Use (Food and Beverages, Consumer Goods, Pharmaceutical, Industrial Goods, Others) and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Trends Analysis and Forecast till 2032 “
Key Highlights:
- In April 2022, Amcor, a global leader in developing and manufacturing responsible packaging solutions, announced in April the addition of a new, more durable High Shield laminate to its pharma packaging portfolio.
- In May 2022, Bormioli Pharma announced the launch of EcoPositive, a new label that covers all sustainable packaging solutions produced by the company, including recycled glass and plastic, bio-based, biodegradable or compostable plastic solutions and advanced polymer products.
- In May 2019, Eastman announced two recycling innovations, Advanced Circular Recycling and Carbon Renewal Technology, enabling the recycling of mixed polyester and mixed plastic waste.
Analyst View:
Bio based plastics reduce dependence on fossil resources and improve the product's carbon footprint, allowing end-of-life scenarios for biodegradable plastic disposal and recycling, thereby reducing the burden on our existing waste systems and the environment. Less use of fossil fuel resources, smaller carbon footprint and faster decomposition. Bioplastics are also less toxic and do not contain bisphenol A, a hormone disruptor often found in conventional plastics. Innovation in the bioplastic packaging market is increasing worldwide, driven by technological developments in bioplastic packaging products that are more efficient to use.
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Key Market Insights from the report:
Bioplastic Packaging Market accounted for US$ 13.5 billion in 2022 and is estimated to be US$ 77.1 billion by 2032 and is anticipated to register a CAGR of 25.5%. The Bioplastic Packaging Market is segmented based on Product Type, Application, Packaging Type, End-Use and Region.
- Based on Product Type, Bioplastic Packaging Market is segmented into Bio-PET, PLA and PLA Blends, Starch Blends, Other biodegradables.
- Based on Application, Bioplastic Packaging Market is segmented into Plastic Bottles, Packaging and Others.
- Based on Packaging Type, Bioplastic Packaging Market is segmented into Rigid, Flexible.
- Based on End-Use, Bioplastic Packaging Market is segmented into Food and Beverages, Consumer Goods, Pharmaceutical, Industrial Goods, Others.
- By Region, the Bioplastic Packaging Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Landscape & their strategies of Bioplastic Packaging Market:
The prominent players operating in the Bioplastic Packaging Market includes, BASF SE, Koninklijke DSM N.V., NaturalWorks, LLC, Metabolix, Inc., Dow Chemical Company, Mitsubishi Chemical Corporation, Alpagro Packaging, Amcor Limited, Eastman Chemical Company, and Biome Bioplastic Limited. The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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