Market Trends of Biodegradable Plastic Packaging Industry
This section covers the major market trends shaping the Biodegradable Plastic Packaging Market according to our research experts:
Use of Bioplastics is Stimulating the Market Growth
- The overarching problem of climate change and the expected future shortage of fossil resources have accelerated the search for better concepts for plastics packaging. Bioplastics packaging offers the same qualities as conventional packaging. It also offers greater sustainability.
- There is a high demand for bioplastic packaging for wrapping organic food, as well as premium and branded products with specific requirements. A combination of recycling components from conventional plastics, such as rPET with bioplastics (bio-based PET), provides high-performance processing of bioplastics packaging. Biodegradable food packaging, certified as industrially compostable, was the first successfully commercialized bioplastic product.
- Bioplastic's applications are increasing for cosmetics packaging of compact powders, creams, and lipsticks, as well as beverage bottles. The materials, such as PLA, bio-based PE, or bio-based PET, are used in this section. The high percentage of bio-based material in these products, as well as the ability to combine them with recyclates from conventional PE and PET, resulted in a decisive increase in resource efficiency and the reduction of CO2 emissions. These factors are expected to boost the market's growth in the future.
- The retailers in Europe, such as Rossmann, Aldi, Coop, and Carrefour, use single or multi-use carrier bags made from bioplastics, with the add-on bonus of biodegradability. The certified biodegradable/compostable cups are also used at big events, or in major football stadiums throughout Europe.
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Europe is Expected to Witness a Significant Growth Rate Over the Forecast Period
- The transition to a low-carbon and circular economy, stronger policy support for the bioeconomy, and increased consumer awareness for sustainable products and packaging are driving the expansion of the market in Europe.
- The European Union’s decision to reduce the overall consumption of thin plastic bags in the region by about 80% by 2019, compared to the consumption levels in 2010, is expected to create huge growth opportunities for the manufacturers of biodegradable plastics in the next five years.
- The demand for biodegradable plastics is witnessing a significant rise from conventional end-user industries, such as packaging, agriculture, and textile. The use of biodegradable plastics, especially in the European countries, is also increasing in other niche segments, such as medical implants and drug delivery systems, etc. these factors are driving the overall market's growth.
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