Global Bioplastic Packaging Market is segmented by Raw Material (Bio-Polyethylene (PE), Bio-Polyethylene terephthalate (PET), Regenerated Cellulose, Poly Hydroxyalkonoates (PHA), Others), By Packaging Type (Flexible Packaging, Rigid Packaging), By Application (Food & Beverages, Pharmaceutical, Industrial, Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Bioplastic Packaging Market Size
Global bioplastic packaging market reached US$ 8.9 billion in 2022 and is expected to reach US$ 14.8 billion by 2030, growing with a CAGR of 12.5% during the forecast period 2024-2031.
In the quest for a sustainable and eco-friendly future, the global bioplastic packaging market has emerged as a promising solution. Bioplastics or bio-based plastics, offer a viable alternative to traditional petroleum-based plastics, which have contributed significantly to environmental pollution. Bioplastic packaging is witnessing a surge in demand as businesses and consumers seek eco-conscious choices to reduce their carbon footprint.
The bio-polyethylene (PE) drive leads the raw material segment in the global bioplastic packaging market, accounting for 1/4th of the market share. Similarly, the Asia-Pacific region dominates the bioplastic packaging market, capturing the largest market share of over 1/4th. Rapid urbanization and a growing middle-class population in countries such as India and China are expected to drive the demand for eco-friendly packaging solutions, presenting new opportunities for bioplastics manufacturers in the region.
Bioplastic Packaging Market Summary
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Metrics |
Details |
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CAGR |
12.5% |
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Size Available for Years |
2022-2031 |
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Forecast Period |
2024-2031 |
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Data Availability |
Value (US$) |
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Segments Covered |
Raw Material, Packaging, Application, Technology and Region |
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Regions Covered |
North America, Europe, Asia-Pacific, South America and Middle East & Africa |
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Fastest Growing Region |
Asia-Pacific |
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Largest Region |
Asia-Pacific |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
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Bioplastic Packaging Market Dynamics
Environmental Concerns and Sustainability Initiatives
As the world becomes increasingly aware of the detrimental effects of plastic pollution on the environment, there has been a growing shift towards sustainable and eco-friendly practices. Governments worldwide are actively promoting the adoption of bioplastic packaging through various sustainability initiatives and regulations. For instance, several countries have imposed bans or restrictions on single-use plastics, driving the demand for bioplastic alternatives.
According to a report by the United Nations Environment Programme (UNEP), more than 127 countries have implemented regulations to curb plastic waste, significantly boosting the bioplastic packaging market. Such regulations include restrictions on single-use plastics, plastic bag bans, and the encouragement of biodegradable packaging solutions.
Advancements in Bioplastic Technology
The rapid advancements in bioplastic technology have played a pivotal role in the market's growth. Innovations in research and development have led to the creation of bioplastics with improved properties, such as enhanced biodegradability, increased tensile strength, and better barrier properties. These developments have expanded the application scope of bioplastics, making them viable alternatives for a wide range of packaging requirements.
Governments worldwide have been actively funding research and development in bioplastics to bolster their domestic industries. According to the European Bioplastics, the European Union invested over €3 billion in bio-based industries and biorefinery projects, contributing to the technological progress of bioplastic packaging.
Limited Feedstock Availability
Despite the numerous benefits, the global bioplastic packaging market faces various challenges that hinder its growth and widespread adoption. One of the primary restraints facing the bioplastic packaging market is the limited availability of suitable feedstock. Competition for these resources from other industries, including food and biofuel, can lead to fluctuations in feedstock prices, making bioplastic production economically less viable.
The production of bioplastics relies on raw materials such as corn, sugarcane, and vegetable oils. According to the United Nations Food and Agriculture Organization (FAO), the global demand for cereals, oilseeds, and sugarcane is projected to rise by 20% by 2030. The increasing demand for agricultural products may exacerbate the feedstock scarcity for bioplastic production, hindering market growth.
Bioplastic Packaging Market Segment Analysis
The global bioplastic packaging market is segmented based on raw material, packaging, application and region.
The Growing Popularity of Bio-Polyethylene (PE)
In recent years, escalating environmental concerns and the pursuit of sustainable solutions have propelled the bioplastics industry to the forefront of the global packaging market. Among the various biodegradable and renewable materials, Bio-Polyethylene (PE) has emerged as a promising contender. Derived from renewable resources, such as sugarcane, corn, and cassava, Bio-PE offers a greener alternative to conventional petroleum-based plastics.
Bio-PE is a type of bioplastic that is produced from renewable plant-based feedstocks using advanced biotechnological processes. The material possesses similar characteristics to traditional PE, including durability, versatility, and recyclability. Furthermore, it is considered a carbon-neutral alternative as the carbon dioxide emitted during its production is offset by the absorption of CO2 during plant growth.
Bioplastic Packaging Market Geographical Share
The Rising Awareness and Environmental Concerns
In recent years, the Asia-Pacific region has emerged as a major player in the global bioplastic packaging market, driven by increasing environmental concerns, stringent regulations, and growing consumer awareness about sustainable practices. Bioplastics, derived from renewable sources, offer a promising alternative to traditional petroleum-based plastics, which are known for their detrimental impact on the environment.
Over the past decade, the Asia-Pacific region has witnessed a surge in environmental awareness, leading to a greater emphasis on sustainability and eco-friendly practices. Governments in the region have been proactive in implementing policies that promote the use of bioplastics to reduce plastic waste and its adverse effects on the ecosystem.
Bioplastic Packaging Market Competitive Landscape
The major global players in the market include BASF SE, Natureworks LLC, Braskem S.A., Innovia Films, Koninklijke DSM N.V, Novamont, Biome Technologies PLC, Dow, Bio-On S.P.A. and Metabolix Inc.
COVID-19 Impact Analysis
The COVID-19 pandemic has had both positive and negative impacts on the global bioplastic packaging market. While certain challenges were faced due to the disruptions caused by the pandemic, it also brought to light the importance of sustainable and eco-friendly packaging solutions. The bioplastic packaging market faced temporary setbacks due to supply chain disruptions, reduced production capacities, and logistical challenges caused by lockdown.
However, the pandemic also highlighted the need for more sustainable packaging options. There was a growing realization that traditional single-use plastic packaging, which is derived from fossil fuels and takes years to degrade, contributes significantly to environmental pollution. As a result, the demand for bioplastic packaging witnessed an upswing in certain segments.
Key Developments
- In 2020, Coca-Cola introduced the PlantBottle 2.0, an enhanced version of its biobased PlantBottle. The PlantBottle 2.0 is made from renewable sources, including plant sugars, and is fully recyclable. The respective innovation aims to reduce the carbon footprint of Coca-Cola's packaging while maintaining product quality and performance.
- Tetra Pak, a leading packaging company, unveiled its plant-based carton packaging solutions in 2021. The respective cartons are made from renewable materials, primarily from sustainably sourced paperboard and plant-based polymers. Tetra Pak's plant-based cartons provide a more sustainable alternative to traditional beverage and food packaging.
- Loop Industries introduced its Infinite Loop technology in 2021. The innovative process enables the upcycling of waste PET plastics into high-quality, food-grade packaging. Loop Industries' technology aims to increase the recycling rates of PET plastics and reduce plastic waste in the packaging industry.
Why Purchase the Report?
- To visualize the global bioplastic packaging market segmentation based on raw material, packaging, application and region, as well as understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous data points of bioplastic packaging market-level with all segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as excel consisting of key products of all the major players.
The global bioplastic packaging market report would provide approximately 61 tables, 59 figures and 183 Pages.
Target Audience 2024
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
