Bioplastic Packaging Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis
The bioplastic packaging market is projected to reach US$ 47,991.9 million by 2028 from US$ 13,273.9 million in 2022. It is expected to grow at a CAGR of 23.9% during 2022–2028.
Food & beverages, consumer goods, cosmetic & personal care, and pharmaceutical are among the major end users of bioplastic packaging. Plastic packaging is extensively used in various applications such as FMCG, food & beverages, pharmaceutical, and consumer goods. This increased use of plastic in several applications is responsible for rising plastic pollution. Thus, recycling and reusing plastic is becoming important for innovation and sustainability. Moreover, conventional plastic is expected to become more expensive in the future with diminishing raw material sources. In the past few years, bioplastic has influenced the plastic industry through innovation for more resource efficiency, functionality, and sustainability. Bioplastic is playing a significant role in increasing recycling targets and improving waste management by substituting petroleum resources with renewable resources. Bioplastics are manufactured using renewable plant-based resources, which offer low toxicity, better recyclability, and high biodegradability.
In 2021, Europe held a significant share of the global bioplastic packaging market. Many small- and large-scale manufacturing companies have a presence in the region. The growing consumer preference for organic and natural polymers in food packaging is positively influencing the adoption rate of these sustainable packaging solutions in the food & beverages sector in the region. Besides consumer awareness, the rise in government initiatives encouraging the use of eco-friendly packaging products in different countries is bolstering the market growth.
Strategic Insights
Impact of COVID-19 Pandemic on Bioplastic Packaging Market
Food & beverages, consumer goods, cosmetic & personal care, and pharmaceutical industries were among the major demand generators in the bioplastic packaging market before the onset of the COVID-19 pandemic. However, the market faced hurdles during the first quarter of 2020 due to business shutdowns, raw material shortages, and labor unavailability. The COVID-19 pandemic led to an economic recession in the initial months of 2020, which created a financial burden on manufacturers and consumers. However, relaxation in social restrictions and rise in government initiatives to boost their economies encouraged industries to start working at their full capacities. This eventually helped in the revival of the bioplastic packaging market in late 2021.
Market Insights
Increasing Awareness Among Customers About Adverse Effect Of Conventional Plastics
Currently, bioplastic is an alternative for nearly every conventional plastic material in diverse applications. Bioplastics offer innovative solutions with enhanced properties along with distinctive ability to reduce emissions and provide same qualities and functionalities as that of conventional plastic. This biodegradable packaging materials are made using renewable resources as well as fossil raw materials such as cellulose ester, PLA (Polylactic acid), PHA (Polyhydroxyalkanoates), starch derivatives, and copolyesters like PBS (Poly Butylene Succinate) and PBAT (Poly Butylene Adipate-Co-Terephthalate). Many of the industry players are inclined toward delivering biodegradable packaging solutions, owing to the rising awareness of consumers about the impact of consumption choices on their lifestyle and environment and the increasing consumer demand for more sustainable products. The increased use of bioplastic packaging materials is contributing to sustainability and reducing the environmental impact associated with the use of conventional polymers. Therefore, the change in consumer demand based on environmental awareness, packaging lifestyle, convenience, and sustainable production systems is boosting the global bioplastic packaging market growth.
Category Insights
Based on product, the bioplastic packaging market is segmented into starch blends, polylactic acid, polyethylene terephthalate, polyhydroxyalkanoates, and polyethylene. In 2021, the starch blends segment accounted for the largest revenue share.
NatureWorks LLC, Arkema, Novamont S.p.A., BASF SE, Braskem, Corbion N.V., Cardia Bioplastic Packaging, Evonik Industries AG, Koninklijke DSM N.V., and Dow Chemical Company are among the key players operating in the market. These companies have broad product portfolios to cater to their clientele from different developed and developing countries. They also focus on developing high-quality, innovative products to meet customer requirements.
Report Spotlights
- Progressive industry trends in the market to help players develop effective long-term strategies
- Business growth strategies adopted by companies to secure growth in developed and developing markets
- Quantitative analysis of the bioplastic packaging market size from 2020 to 2028
- Estimation of global demand for bioplastic packaging
- PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry
- Recent developments to understand the competitive market scenario
- Market trends and outlook and factors driving and restraining the growth of the bioplastic packaging market
- Assistance in the decision-making process by highlighting market strategies that underpin commercial interest
- The size of the bioplastic packaging market at various nodes
- Detailed market overview and segmentation and the bioplastic packaging industry dynamics
- Bioplastic packaging market size in various regions with promising growth opportunities
The "Bioplastic Packaging Market Analysis to 2028" is a specialized and in-depth study of the chemicals industry with a special focus on trend analysis. The report aims to provide an overview of the market with detailed market segmentation. The global market has been analyzed on the basis of product, type, application, and geography. Based on product, the market is segmented into starch blends, polylactic acid, polyethylene terephthalate, polyhydroxyalkanoates, and polyethylene. In terms of type, the global market is segmented into rigid packaging and flexible packaging. Based on application, the market is segmented into, food & beverages, consumer goods, cosmetic & personal care, and pharmaceutical. By geography, the bioplastic packaging market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America.
Company Profiles
- NatureWorks LLC
- Arkema
- Novamont S.p.A.
- BASF SE
- Braskem
- Corbion N.V.
- Cardia Bioplastic Packaging
- Evonik Industries AG
- Koninklijke DSM N.V.
- Dow Chemical Company
Bioplastic Packaging Market Report Analysis
-
CAGR (2023 - 2031)23.90% -
Market Size 2023
US$ 16.45 Billion -
Market Size 2031
US$ 91.34 Billion
Report Coverage
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Key future trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Industry landscape and competition analysis & recent developments
- Detailed company profiles
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
Key Players
- NatureWorks LLC
- Arkema
- Novamont S p A
- BASF SE
- Braskem
- Corbion N V
- Cardia Bioplastic Packaging
- Evonik Industries AG
- Koninklijke DSM N V
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
By Product
- Starch Blends
- Polylactic Acid
- Polyethylene Terephthalate
- Polyhydroxyalkanoates
- Polyethylene
By Type
- Rigid Packaging and Flexible Packaging
By and Application
- Food & Beverages
- Consumer Goods
- Cosmetic & Personal Care
- Pharmaceutical
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Bioplastic Packaging Market Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 16.45 Billion |
| Market Size by 2031 | US$ 91.34 Billion |
| Global CAGR (2023 - 2031) | 23.90% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Product
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
|
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product, Type, and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
Surge in need for sustainable packaging solution is expected to drive the market growth. Plastic packaging is extensively used in the range of application such as FMCG, food & beverages, pharmaceutical, consumer goods, etc. This increased use of plastic in several application is responsible for rising plastic pollution. Thus, recycling and reuse of plastic are becoming foremost important for innovation and sustainability. Bioplastic is playing a significant role to increase recycling targets and waste management by substituting petroleum resources with renewable resources. Bioplastics are manufactured using renewable plant-based resources which offer low toxicity, better recyclability, and high biodegradability. These factors are having a significant impact on the growth of bioplastic packaging market.
Pharmaceuticals segment is expected to grow at a highest CAGR during the forecast period in the global bioplastic packaging market. Rapid growth of global pharmaceutical industry coupled with rising healthcare expenses, and growing consumer awareness regarding healthier lifestyle has increased demand for pharmaceutical packaging. Bioplastics are used in packaging for blister packs, vials, pre-filled syringes, containers, bottles, cartridges, and pouches which further expects to drive the demand for bioplastic packaging.
The segment food & beverages accounted for a larger market share in 2017 and is expected to dominate the market during the forecast period. Bioplastic packaging is used for bakery and confectionery, meat, fish & poultry products, dairy products, convenience foods, fruits & vegetables, sauces, dressings & condiments, and many other products. Factors such as improving global economy, expanding working population, rising demand for ready-to-eat & convenience food products are expected to boost the market for flexible plastic packaging for food & beverages.
Based on type, the flexible packaging held the largest share of the global bioplastic packaging market in 2017 globally is expected to dominate during the forecast period. The flexible bioplastic packaging market is expected to witness substantial growth in the future owing its increased demand in in food and beverage, cosmetic & personal care, and pharmaceutical industries. Growth in modern retailing coupled with acceleration in e-commerce activities are likely to support the growth of the flexible bioplastic packaging market during the forecast period.
The major players operating in the global bioplastic packaging market are Braskem S.A., Arkema Group, The Dow Chemical Company, BASF SE, Cardia Bioplastics, Corbion N.V., Evonik Industries AG, Koninklijke DSM N.V., NatureWorks LLC and Novamont S.p.A.
In 2017, Europe accounted for the largest revenue share of more than one-third of the total market share, followed by North America. Increasing awareness among customers about the adverse impact of conventional plastics, surge in need for sustainable packaging solution, and rising government support for the incorporation of bioplastic in packaging these factors are expected to drive the demand for bioplastic packaging in Europe.
The List of Companies
- NatureWorks LLC
- Arkema
- Novamont S.p.A.
- BASF SE
- Braskem
- Corbion N.V.
- Cardia Bioplastic Packaging
- Evonik Industries AG
- Koninklijke DSM N.V.
- Dow Chemical Company
Get Free Sample For