Bioplastics For Packaging Market | Scope of Current and Future Industry 2033

0
2KB

The bioplastics for packaging market is forecast to expand at 10.3% CAGR over the estimated time, as per FMI’s analysis. The industry’s size is predicted to reach a market value of USD 11.6 billion in 2023 and USD 30.9 billion by 2033

The demand for bioplastics solutions to package products is expected to be driven by government initiatives to lower ecological waste, particularly plastic packaging waste, and better the waste management processes. Governments across the globe are creating restrictions on the use of traditional plastics, which is pushing the growth of bioplastic as a steady substitute in the packaging industry.

Developing economies, such as India, strongly rely on single-use plastics. These economies have been observing a vigorous phase-out of single-use plastics due to legislation surrounding the ban on single-use plastics. The country is projected to observe heavy developments in bioplastics for the packaging industry, in line with the goals mentioned in the Plastic Waste Management Amendment Rules, 2021.

Find Out More—Read the Complete Report for Full Insights!

Rigid bioplastics are utilized in the packaging of cosmetic products like lipsticks, compact powders, creams, etc. The extensive application of cosmetics makes way for heightened demand for bioplastics for packaging.

Due to the increasing buzz around bio-plastics, several bioplastics application technologies are being found in developed countries with the aid of substantial research and development funding. For example, Brown University students created a bioplastic ‘Fette’ cup to swap solo cups, in July 2021. The solo cups are composed of number six plastic, which is toxic to the environment.

Top Highlights for Packaging Market:

  • The Europe region obtained a 36% value share in 2022.
  • The North America bioplastics for packaging industry acquired a 30.5% market share in 2022.
  • The United States bioplastics for packaging industry gained a total of 26.8% value share in the year 2022.
  • The German bioplastics for packaging industry acquired a 6% market share in 2022.
  • The Japanese bioplastics for packaging industry procured a 5.7% market share in 2022.
  • The Australian bioplastics for packaging industry obtained a market share of 1% in the year 2022.
  • The Chinese bioplastics for packaging industry are projected to expand at a prominent CAGR of 12.2% from 2023 to 2033.
  • The Indian bioplastics for packaging industry are anticipated to register a CAGR of 10.9% in the forecast period.
  • The United Kingdom bioplastics for packaging industry accounted for a CAGR of 4.9% over the estimated time frame.
  • On the basis of material, Bio PET is expected to gain more than 30.1% market share in 2023.
  • Based on end use, the food and beverages segment is expected to gain an attractive 78.9% market share in 2023.

Key Players Are:

  • Braskem S.A
  • Corbion N.V.
  • Novamont S.p.A
  • NatureWorks LLC
  • Amcor Plc
  • Mondi Group
  • Tetra Pak International SA
  • ALPLA-Werke Alwin Lehner GmbH & Co KG
  • Berry Global Inc.
  • Uflex Ltd.
  • Toray Industries Inc.
  • BARBIER GROUP
  • Jolybar Group
  • Biome Bioplastics Limited
  • Plastipak Holdings, Inc.
  • Virent, Inc.
  • SECOS Group Limited
  • Evo & Co.

Innovation Watch: Key Developments in this Market:

  • LG Chem Ltd., which is a large Korean chemical company, in August 2022 revealed its collaboration with Archer Daniels Midland Co. (ADM), which is a United States-based food processing company. Both companies came together to construct two manufacturing plants in Illinois, the United States. The production units produce biodegradable plastics that are widely used in food packaging applications.
  • Vikas Ecotech Limited officially declared in January 2022 its plans to devote in the eco-friendly BioPlastics (PHA) technology. The company is in the advanced stage of finalizing a technology joint venture or tie-up with Aurapha Private Ltd. to manufacture biodegradable plastics. The solution is to deploy biodegradable plastics like polyhydroxyalkanoates (PHA).

Bioplastics For Packaging Market by Category

By material, bioplastics for packaging market is segmented as:

  • Bio PET
  • Bio PA
  • Bio PE
  • Bio-PP
  • Bio-PS
  • PLA
  • PHA
  • Starch Blends
  • Others (PCL, PBAT etc.)

By application, bioplastics for packaging industry is segmented as:

  • Bottles
  • Cups
  • Trays
  • Clamshell
  • Films
  • Bags
  • Pouch & Sachet
  • Others (Jars, Cans, etc.)

By end use, bioplastics for packaging industry is segmented as:

  • Food & Beverages
  • Cosmetics & Personal Care
  • Pharmaceuticals
  • Consumer Goods
  • Industrial Goods
  • Others (Automotive, Electrical & Electronics)

By region, bioplastics for packaging industry is segmented as:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia Pacific except for Japan
  • Japan
  • Middle East & Africa
Commandité
Rechercher
Commandité
Catégories
Lire la suite
Autre
Global AI in Patient Management Market Growth Drivers: Share, Value, Size, and Insights
"AI in Patient Management Market Size And Forecast by 2031  The AI-Driven Healthcare...
Par akshrasingh05 2025-04-03 09:19:00 0 2KB
News
Pakistan ex-PM Imran Khan and wife jailed for 7 years for unlawful marriage
Former Pakistan Prime Minister Imran Khan and his wife Bushra Khan were sentenced to...
Par Ikeji 2024-02-03 18:28:05 0 3KB
Health and Wellness
SELF-CONTROL- Religion Doesn't Explain Willpower, But Neither Does Science. Is there an explanation? Reviewed by Hara Estroff Marano
KEY POINTS- Will and power are different, since will is motivation and power is effort....
Par Ikeji 2023-05-10 07:30:44 0 4KB
Technology
How Does Pressure Drop Occur in an Orifice Plate Flow Meter System?
Flow measurement is a central requirement in many industries such as oil, gas, water treatment,...
Par ourmechanicalworld 2025-09-28 07:24:24 0 739
News
Next-Generation Therapies for CRPC: Market Forecast and Key Innovations (2022–2030)
The global Castration-Resistant Prostate Cancer (CRPC) Therapeutics Market has...
Par kpravin 2025-04-07 09:12:31 0 1KB
Commandité
google-site-verification: google037b30823fc02426.html