The research study presented in this report offers complete and intelligent analysis of the competition, segmentation, dynamics, and geographical advancement of the Global Bioplastics for Packaging Market. The research study has been prepared with the use of in-depth qualitative and quantitative analyses of the global Bioplastics for Packaging market. We have also provided absolute dollar opportunity and other types of market analysis on the global Bioplastics for Packaging market.
It takes into account the CAGR, value, volume, revenue, production, consumption, sales, manufacturing cost, prices, and other key factors related to the global Bioplastics for Packaging market. All findings and data on the global Bioplastics for Packaging market provided in the report are calculated, gathered, and verified using advanced and reliable primary and secondary research sources. The regional analysis offered in the report will help you to identify key opportunities of the global Bioplastics for Packaging market available in different regions and countries.
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The authors of the report have segmented the global Bioplastics for Packaging market as per product, application, and region. Segments of the global Bioplastics for Packaging market are analyzed on the basis of market share, production, consumption, revenue, CAGR, market size, and more factors. The analysts have profiled leading players of the global Bioplastics for Packaging market, keeping in view their recent developments, market share, sales, revenue, areas covered, product portfolios, and other aspects.
High demand for bioplastics for packaging food and beverage products; consumer goods industry also expected to witness progressive growth in demand during 2017-2027
Bioplastics are the type of plastics that are either biodegradable or non-biodegradable and are largely used in the packaging of products from various industries such as food and beverages, pharmaceuticals, consumer goods etc. Bioplastics can be rigid or flexible. Rigid bioplastics are used for packaging of bottles, cups, trays, clamshells etc. Manufacturers are investing in research and development to develop bioplastics that are developed from algae and bacteria – these are known as 3rd generation bioplastics.
According to the market analysis, the food and beverage industry is expected to witness maximum demand for bioplastics. The F&B segment is expected to hold a market value of over US$ 12,700 Mn by the end of 2027, growing at a CAGR of 15.2% during the forecast period. However, the consumer goods market is also projected to experience growth at a high rate, with a CAGR of 13.3% during the forecast period 2017-2027.
The growing demand for bioplastics from the food and beverage industry is helped by an increasing inclination towards packaged food items
The busy lifestyles of people have created a high demand for packaged foods and buyers have begun contributing more towards packaged food and beverages. Consumer spending on packaged products has considerably increased in the last few years due to a high disposable income. In this way, huge amounts of plastic packaging waste is created every month, leading to landfill issues. Makers are leaning toward bioplastics over customary plastics. Manufacturers are concerned about the rising packaging waste across the globe.
A high consumption rate of plastic packaging products has created tons of waste across industries. With the rising concern towards sustainability, urban consumers have started buying bioplastics products. As a safe living environment has become one of the major concerns of consumers, they have started preferring bioplastics packaged products over plastic packaged products.
Policy makers are playing major role in creating a sustainable environment. Governments across the world are emphasizing on biodegradable and bioplastics packaging material. Use of bioplastics will also reduce the compositing problem. Countries like China – which largely produces starch based products that are used for manufacturing bio plastic resin – are helping the market to grow. Packaging manufacturers are gaining support from government organisations to promote bioplastics. The manufacturers of packaging products are even receiving extra incentives to use bioplastics materials.
Underdeveloped countries still prefer plastic over bioplastic packaging owing to the high manufacturing costs
Consumers in underdeveloped or developing countries prefer using cheap products over costlier ones as per person spending of consumers is lower in these countries as compared to the developed regions. Bioplastics can be considered costlier due to the high production cost of resins. It requires advanced machinery as the basic plastic packaging machinery is incompatible with bioplastics.
Also, the processing cost and labor cost of bioplastics packaged products is comparatively higher than plastic packaged products. This results in a massive increase in the overall cost of the packaging products. Urban consumers who are well aware of the rising landfill issue prefer ecofriendly products such as jute bags, plates made from banana leaves, and bamboo furniture. Yet, in a country like India, the bioplastics packaging market still faces adaptability issues.
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Bioplastics for Packaging Market Size and Forecast
In terms of region, this research report covers almost all the major regions across the globe such as North America, Europe, South America, the Middle East, and Africa and the Asia Pacific. Europe and North America regions are anticipated to show an upward growth in the years to come. While Bioplastics for Packaging Market in Asia Pacific regions is likely to show remarkable growth during the forecasted period. Cutting edge technology and innovations are the most important traits of the North America region and that’s the reason most of the time the US dominates the global markets. Bioplastics for Packaging Market in South, America region is also expected to grow in near future.
The Bioplastics for Packaging Market report highlights is as follows:
This Bioplastics for Packaging market report provides complete market overview which offers the competitive market scenario among major players of the industry, proper understanding of the growth opportunities, and advanced business strategies used by the market in the current and forecast period.
This Bioplastics for Packaging Market report will help a business or an individual to take appropriate business decision and sound actions to be taken after understanding the growth restraining factors, market risks, market situation, market estimation of the competitors.
The expected Bioplastics for Packaging Market growth and development status can be understood in a better way through this five-year forecast information presented in this report
This Bioplastics for Packaging Market research report aids as a broad guideline which provides in-depth insights and detailed analysis of several trade verticals.
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