Biopolymers packaging is defined as the packaging process which deals with bio degradable polymer materials. Packaging materials built with biopolymers are known to have less shelf life over conventional packaging materials, which further helps to enhance the recycling characteristics of the plastic. The major types of biopolymers that are used for packaging include polysaccharides, proteins, lipids, and polyesters. These biopolymers are believed to have a major demand amongst manufacturers of packaging materials. Biopolymers or bioplastics have witnessed a prominent growth in the global packaging market on account of the environmental concerns over the conventional polymer packaging. Currently, biopolymers represent about 1% of the total polymer produced and 0.33% of the polymer consumed for the packaging. The demand for biopolymers packaging is rising continuously with the growing demand for the bio-degradable and recyclable packaging materials.
The global biopolymers packaging market reached USD 4560.0 million in the year 2019 and is expected to garner USD 17309.0 million by the end of 2028 by registering a CAGR of 21.0% across the globe over the forecast period, i.e. 2021-2028. Additionally, the market is anticipated to achieve a value of USD 3575.0 million in the year 2020, and is further expected to gain an absolute $ opportunity of USD 12754.4 million during the forecast period.
The global biopolymers packaging market is segmented by regions into North America, Latin America, Europe, Asia Pacific and Middle East and Africa. Among these regions, the market of Asia Pacific biopolymers packaging market registered the largest market share of 55% in the year 2019 on the back of increasing exports of biopolymers to regions such as North America and Europe, where the consumption of biopolymers is severely high. Additionally, growing demand for biopolymers in nations such as China, Japan and South Korea are also anticipated to drive the growth of the market in Asia Pacific region. On the other hand, the market in Europe is primarily driven by the mounting environmental concerns and the legislative incentives, which has stimulated interest amongst packaging manufacturers to use biopolymers in packaging. CLICK TO DOWNLOAD SAMPLE REPORT
The study further incorporates Y-O-Y Growth, demand & supply and forecast future opportunity in North America (United States, Canada), Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
The largest end-user for the plastics industry is the packaging sector. In Europe alone, 40% of the plastics consumed by packaging material manufacturers. However, this significant consumption of conventional plastics packaging showcases a significant impact on the global environmental condition with lot of plastic waste. In order to overcome this environmental disadvantage of conventional plastics, several governments coupled with the research and development (R&D) organizations produced biopolymers packaging, which can be bio-degradable or reusable or recyclable. Biopolymers use resources as efficiently as current conventional polymers, and have advantages including recyclable, reusable, bio-degradable, and releases less greenhouse gas emissions at the time of processing. According to European Bioplastics fact sheet 2019, global biopolymers packaging accounted for the 53% volume consumption in the total production of biopolymers. The major demand for this packaging comes from organic food wrapping and packaging of premium and branded products. Governments are anticipated to further contribute growing demand by promoting biopolymers packaging in the context of their policies for innovation, resource-efficiency, and climate change. The transition from a fossil-based economy to a bio-based economy is a major factor for the current and prospective future growth of the global biopolymers packaging market.
Biopolymers are the major raw materials to produce biopolymers packaging pouches, containers, films, and many other. These biopolymers have a huge pricing limitation over conventional fossil based raw materials including oil, natural gas, and coal, which in turn decreases the profitability of manufacturers. Such a factor is anticipated to hinder the growth of the global biopolymers packaging market during the forecast period.
Some of the affluent industry leaders in the global biopolymers packaging market are BASF SE, NatureWorks LLC and Arkema SA. Besides, several players operating in the global biopolymers packaging market are increasingly focusing on research and developmental activities for the development of advanced biopolymers that can contribute significantly towards the growth of the global biopolymers packaging market. Moreover, several other players in the packaging industry are increasingly expanding their processes by investing on the deployment of biopolymer packaging plants.
FREQUENTLY ASKED QUESTIONS
Increasing consumption of reusable and recyclable plastics for packaging in the packaging industry around the globe is one of the major factors that is driving the growth of the market.
The market is anticipated to attain a CAGR of 21.0% over the forecast period, i.e. 2021-2028.
The market in Europe is anticipated to provide more business opportunities in the future.
The major players in the global biopolymers packaging market are BASF SE, NatureWorks LLC and Arkema SA.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.
Concerns for the high cost of biopolymers over conventional packaging raw materials is one of the major factors anticipated to act as a barrier towards the growth of the market.
Global Biopolymers Packaging Market
Part 1 Introduction
Assumptions & Abbreviations
Part 2 Global Market Outlook
Part 3 Market Dynamics
Part 4 Regulatory Landscape
Part 5 Company Profile
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