Key factors contributing to high CAGR in Bioplastic Packaging Market are technological developments, government rules and regulation for betterment of the environment. Improvement in the quality offered, durability and general awareness for sustainable packaging for reduction of harmful plastics all over the world is resulting in growing of high market demand rate.
Market Size – USD 5649.5 Million in 2018, Market Growth – CAGR of 19.9 %, Market Trends – Product Launches and Research for Advanced Tech Developments
Based on current analysis, the Global bioplastic packaging market was valued at USD 5649.5 Million in year 2018 and is anticipated to reach USD 24289.7 Million by year 2026, at a CAGR of 19.9 %. Development of bioplastics is made through the use of feedstock to minimize the problem caused by conventional plastics. Falling demand for conventional plastics due to its harmful effects on the ecology has further fueled to rise high demand for use for bioplastic materials for packaging. With commencement of industrial and trade technologies, companies from all around the world have induced greater standing for the use of bioplastic plastic. The large number of products manufactured with the help of materials which will not be degraded for a longer period of time are creating high level of concern, especially in economies with are still undergoing development.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/press-release/global-bioplastic-packaging-market
Further key findings from the report suggest
- UK based company, Biome Bioplastics is a natural plastic developer, has collaborated with plastic films manufacturer Futamura to display a range of bio based and compostable and multilayer films. This will boost the overall revenue generating capacity of the market
- Food and beverages sector are projected to be dominant, accounting to 67.3% of the market share in terms of revenue in 2017 and is expected to reach 69.0% b 2026
- Durability and sturdiness of the packaging product is important, therefore, everlasting bioplastics, namely, polythene produced from sugar cane is used to provide efficient substitute for oil-based equals
- Technologically advanced bio-polymer industries are presenting biodegradable plastic as solution to environmental complications over the conventional non-biodegradable plastic.
- Polylactic Acids decompose well in the presence of acids; therefore, they are used in some medical applications. This material of bioplastic is used in making bottles, food packing, grocery bags etc
- The ever-increasing awareness among general public about the ecological status of their lifestyle is one of the important key factors for global bioplastic packaging market
Segments covered in the report:
For the purpose of this study, Reports and Data have segmented the global Antibody production market on the basis of Type, Material Type, Applications, End Users and Region:
Type (Revenue, USD Million; 2016–2026)
- Rigid packaging
- Flexible Packaging
- Other
Material Type (Revenue, USD Million; 2016–2026)
- Starch Blend
- Polylactic Acid (PLA)
- Polyethylene Terephalate
- Polyhydroxyalkanoates (PHA)
- Polythene
- Others
Applications (Revenue, USD Million; 2016–2026)
- Food and beverages Market
- Consumer Goods Market
- Cosmetic Personal Care Market
- Pharmaceuticals Market
- Agriculture and Horticulture Market
- Textiles Market
- Others
End Users (Revenue, USD Million; 2016–2026)
- Raw Material Suppliers/Buyers
- Product Suppliers/Buyers
- Research Institutes
- Manufacturers/Producers
- Agricultural Sector
- Research Laboratories
- Others
Regional Outlook (Revenue in USD Million; 2016–2026)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of the Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
- Brazil
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