Bioplastic Packaging Market
Bio-Plastic Packaging Market Forecasts to 2028 – Global Analysis By Type (Biodegradable Plastics, Non-Biodegradable Plastics), Packaging Type Rigid Packaging, Flexible Packaging), Application (Agriculture and Horticulture, Consumer Goods) and By Geography
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2021) |
US $16.80 BN |
|
Projected Year Value (2028) |
US $57.28 BN |
|
CAGR (2021 - 2028) |
16.6% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
Europe |
According to Stratistics MRC, the Global Bio-Plastic Packaging Market is accounted for $16.80 billion in 2021 and is expected to reach $57.28 billion by 2028 growing at a CAGR of 16.6% during the forecast period. Bioplastics are plastic materials produced from renewable biomass sources, such as vegetable fats and oils, corn starch, straw, woodchips, sawdust. Bioplastics are biodegradable materials that come from renewable sources and can be used to reduce the problem of plastic waste that is suffocating the planet and contaminating the environment.
Market Dynamics:
Driver:
Growing Initiatives By The Government & Environment Friendliness
Increasing adoption of it, owing to its numerous benefits such as environment friendliness and biodegradable nature is a key factor expected to drive growth. The increasing consumer preference towards eco-friendly products instead of synthetic derived chemicals products is another factor expected to fuel growth of the target market. Furthermore, increasing research and development activities and investment by beverage manufacturers such as The Coca Cola Company and PepsiCo, which is another factor expected to boost growth.
Restraint:
High Cost
The high cost of production of bioplastics. Though bioplastics are biodegradable, they cannot be degraded as easily as naturally occurring organic matter. In order to balance the physical properties of plastics and biodegradability of organic matter, the overall cost of production of bioplastics increases significantly.
Opportunity:
Quick Development
With rapid urbanization and industrialization, demand for packaging is growing exponentially in emerging economies. The growing demand for eco-friendly, advanced, and effective packaging in countries is boosting the growth of the market. In the coming years, emerging countries are expected to undertake environment-friendly approach for packaging solutions due to strict regulations and supports by the governments. This will create opportunity for the advanced bioplastic packaging solutions in the emerging economies.
Threat:
High Complexity
The high complexity associated with the production of bioplastic packaging materials from raw materials of agricultural origin is predicted to challenge the expansion of the market. Improved crude oil and natural gas production in the Middle East and Russia by companies leading to lower oil prices is predicted to have a negative impact on the market. The high complexity associated with the production of materials from raw materials of agri-food origin is predicted to be a difficult factor for the market in the near future.
Food & beverage segment is expected to be the largest during the forecast period
Plastic-based products are associated with a high risk of contamination, owing to which the food & beverage industry is turning towards bioplastic packaging products. Further, growing consumer preference for organic and natural polymers in food packaging is also accelerating the adoption rate of these bioplastic packaging solutions in the food & beverage sector. Such factors are substantially contributing towards the market growth.
The flexible packaging segment is expected to have the highest CAGR during the forecast period
The segmental growth of the market is attributed to the increased demand for flexible packing options from a wide variety of industries. Flexible packaging products can also be refilled as well as can be changed into any desired shape. Flexible packaging also offers ease and convenience to the customers in their fast-paced lifestyles and enables the enhanced printing technology that allows the manufacturers to achieve a strong brand presence. Hence, owing to the several benefits offered by flexible packaging, the segment is likely to gain traction over the forecast period.
Region with highest share:
The Asia Pacific is projected to hold the highest market share, owing to growing packaging industry in various countries such as India and China. Furthermore, China launched a policy to increase manufacturers focus on bioplastic products for packaging. Asia-Pacific province is anticipated to grow significantly, owing to the several government initiatives regarding the waste management across economies such as China, India, and Japan.
Region with highest CAGR:
Europe is projected to have the highest CAGR, due to the high adoption of eco-friendly packaging solutions, along with the strict governance framework for synthetic polymers, is predicted to drive market expansion. In Europe, supportive government policies include helping consumers give preference to buying bio-based products. Also in the EU, member states are reducing taxes on bio-based products, owing to stringent government regulations against the consumption of non-recyclable plastics and increasing awareness about sustainable packaging in manufacturing industry in various countries in this province.
Key players in the market:
Some of the key players profiled in the Bio-Plastic Packaging Market include Amcor, BASF, Biotec, Braskem, Cargill, Clondalkin, Coopbox, Corbion, DowDuPont, Eastman Chemical Company, Taghleef Industries, Greendot, Huhtamaki, Koninklijke DSM N.V, NatureWorks, Novamont, Perstorp, Toray Industries, Inc., Roquette, Sealed Air, Sonoco, Sphere Tagleef Industries, Tereos.
Key developments:
In June 2020: BASF SE expands its packaging coatings production to South China. The expansion will complement the production capacities in Shanghai, which primarily serve the market in the East China region. The move will support the fast-growing packaging industry in South China and help customers reduce lead times by offering proximity between production and point of use. This also reduces energy consumption and CO2 emissions due to the shorter transportation distance.
In May 2020: Toray Industries, Inc. announced that it had created a high tensile modulus of carbon fiber and thermoplastic pellets ideal for injection molding employing that fiber. The pellets can efficiently produce complex, rigid parts that are also light, thereby lowering environmental impact. These advances could greatly enhance cost performance.
In January 2021: Taghleef Industries introduced a new range of bio-based polypropylene (PP) films to its biobased portfolio. Taghleef's bio-based PP films are biodegradable packaging options that are a bio-based alternative to films generated from fossil fuels. ISCC Plus certified Ti's biobased PP films could be used in the same packaging and labeling applications as typical grades made of fossil-based raw materials.
Types Covered:
• Biodegradable Plastics
• Non-Biodegradable Plastics
Packaging Types Covered:
• Rigid Packaging
• Flexible Packaging
Applications Covered:
• Agriculture and Horticulture
• Consumer Goods
• Cosmetic Personal Care
• Electronics
• Food and Beverages
• Medical & Healthcare
• Pharmaceuticals
• Textiles
End Users Covered:
• Raw Material Suppliers/Buyers
• Product Suppliers/Buyers
• Research Institutes
• Manufacturers/Producers
• Agricultural Sector
• Research Laboratories
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Bio-Plastic Packaging Market, By Type
5.1 Introduction
5.2 Biodegradable Plastics
5.2.1 Cellulose Derivatives
5.2.2 Polyhydroxyalkanoates (PHA)
5.2.3 Polylactic Acid (PLA)
5.2.4 Starch-Based
5.2.5 Polyester
5.2.5.1 Polycaprolactone (PCL)
5.2.5.2 Polybutylene Adipate Terephthalate (PBAT)
5.2.5.3 Polybutylene succinate (PBS)
5.3 Non-Biodegradable Plastics
5.3.1 Bio-Polyethylene Terephthalate (PET)
5.3.2 Bio-Polyethylene
5.3.3 Bio-Polyamides
5.3.4 Bio-Polytrimethylene Terephthalate
5.4 Regenerative Cellulose
6 Global Bio-Plastic Packaging Market, By Packaging Type
6.1 Introduction
6.2 Rigid Packaging
6.3 Flexible Packaging
7 Global Bio-Plastic Packaging Market, By Application
7.1 Introduction
7.2 Agriculture and Horticulture
7.3 Consumer Goods
7.4 Cosmetic Personal Care
7.5 Electronics
7.6 Food and Beverages
7.7 Medical & Healthcare
7.8 Pharmaceuticals
7.9 Textiles
8 Global Bio-Plastic Packaging Market, By End User
8.1 Introduction
8.2 Raw Material Suppliers/Buyers
8.3 Product Suppliers/Buyers
8.4 Research Institutes
8.5 Manufacturers/Producers
8.6 Agricultural Sector
8.7 Research Laboratories
9 Global Bio-Plastic Packaging Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies
11 Company Profiling
11.1 Amcor
11.2 BASF
11.3 Biotec
11.4 Braskem
11.5 Cargill
11.6 Clondalkin
11.7 Coopbox
11.8 Corbion
11.9 DowDuPont
11.10 Eastman Chemical Company
11.11 Taghleef Industries
11.12 Greendot
11.13 Huhtamaki
11.14 Koninklijke DSM N.V
11.15 NatureWorks
11.16 Novamont
11.17 Perstorp
11.18 Toray Industries, Inc.
11.19 Roquette
11.20 Sealed Air
11.21 Sonoco
11.22 Sphere Tagleef Industries
11.23 Tereos
List of Tables
1 Global Bio-Plastic Packaging Market Outlook, By Region (2020-2028) (US $MN)
2 Global Bio-Plastic Packaging Market Outlook, By Type (2020-2028) (US $MN)
3 Global Bio-Plastic Packaging Market Outlook, By Biodegradable Plastics (2020-2028) (US $MN)
4 Global Bio-Plastic Packaging Market Outlook, By Cellulose Derivatives (2020-2028) (US $MN)
5 Global Bio-Plastic Packaging Market Outlook, By Polyhydroxyalkanoates (PHA) (2020-2028) (US $MN)
6 Global Bio-Plastic Packaging Market Outlook, By Polylactic Acid (PLA) (2020-2028) (US $MN)
7 Global Bio-Plastic Packaging Market Outlook, By Starch-Based (2020-2028) (US $MN)
8 Global Bio-Plastic Packaging Market Outlook, By Polyester (2020-2028) (US $MN)
9 Global Bio-Plastic Packaging Market Outlook, By Non-Biodegradable Plastics (2020-2028) (US $MN)
10 Global Bio-Plastic Packaging Market Outlook, By Bio-Polyethylene Terephthalate (PET) (2020-2028) (US $MN)
11 Global Bio-Plastic Packaging Market Outlook, By Bio-Polyethylene (2020-2028) (US $MN)
12 Global Bio-Plastic Packaging Market Outlook, By Bio-Polyamides (2020-2028) (US $MN)
13 Global Bio-Plastic Packaging Market Outlook, By Bio-Polytrimethylene Terephthalate (2020-2028) (US $MN)
14 Global Bio-Plastic Packaging Market Outlook, By Regenerative Cellulose (2020-2028) (US $MN)
15 Global Bio-Plastic Packaging Market Outlook, By Packaging Type (2020-2028) (US $MN)
16 Global Bio-Plastic Packaging Market Outlook, By Rigid Packaging (2020-2028) (US $MN)
17 Global Bio-Plastic Packaging Market Outlook, By Flexible Packaging (2020-2028) (US $MN)
18 Global Bio-Plastic Packaging Market Outlook, By Application (2020-2028) (US $MN)
19 Global Bio-Plastic Packaging Market Outlook, By Agriculture and Horticulture (2020-2028) (US $MN)
20 Global Bio-Plastic Packaging Market Outlook, By Consumer Goods (2020-2028) (US $MN)
21 Global Bio-Plastic Packaging Market Outlook, By Cosmetic Personal Care (2020-2028) (US $MN)
22 Global Bio-Plastic Packaging Market Outlook, By Electronics (2020-2028) (US $MN)
23 Global Bio-Plastic Packaging Market Outlook, By Food and Beverages (2020-2028) (US $MN)
24 Global Bio-Plastic Packaging Market Outlook, By Medical & Healthcare (2020-2028) (US $MN)
25 Global Bio-Plastic Packaging Market Outlook, By Pharmaceuticals (2020-2028) (US $MN)
26 Global Bio-Plastic Packaging Market Outlook, By Textiles (2020-2028) (US $MN)
27 Global Bio-Plastic Packaging Market Outlook, By End User (2020-2028) (US $MN)
28 Global Bio-Plastic Packaging Market Outlook, By Raw Material Suppliers/Buyers (2020-2028) (US $MN)
29 Global Bio-Plastic Packaging Market Outlook, By Product Suppliers/Buyers (2020-2028) (US $MN)
30 Global Bio-Plastic Packaging Market Outlook, By Research Institutes (2020-2028) (US $MN)
31 Global Bio-Plastic Packaging Market Outlook, By Manufacturers/Producers (2020-2028) (US $MN)
32 Global Bio-Plastic Packaging Market Outlook, By Agricultural Sector (2020-2028) (US $MN)
33 Global Bio-Plastic Packaging Market Outlook, By Research Laboratories (2020-2028) (US $MN)
Note- Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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