Bioplastic Food Containers Market Analysis and Demand with Forecast to 2023
Summary
Global Bioplastic Food Containers Market: by Type (Bio-PET, PLA, PBS, Bio-PP, and others), Application (Plastic Bottles, Packaging, and Others), and Region - Forecast Till 2023
(firmenpresse) - Bioplastic Food Containers Market Scenario
Bioplastics are developed using biodegradable feedstock to reduce the problems caused by conventional plastics. The demand for conventional plastics is declining continuously because they are harmful to the environment. Furthermore, it is extensively dependent on the oil and gas industry for raw materials. Thus, the demand for the bioplastics is increasing continuously. According to the Market Research Future, the global Bioplastic Food Containers market is thriving and is likely to gain further over the forecast period.
The global Bioplastic Food Containers market is forecasted to demonstrate an exponential growth by 2023, exceeding its previous growth records in terms of value with a considerable CAGR during the estimated period (2017-2023).
Key Players
The key players in the global Bioplastic Food Containers market include Arkema Group (France), BASF SE (Germany), Biome Bioplastics Limited. (UK), DaniMer Scientific LLC (USA), Dow Chemical Company (USA), Eastman Chemical Company (USA), FKuR Kunststoff (Germany), Koninklijke DSM N.V. (the Netherlands), Metabolix Inc. (USA), NatureWorks LLC (USA), and Novamont S.P.A. (Italy).
Regional Analysis
On the basis of regions, global Bioplastic Food Containers Market is segmented as North America, Europe, Asia-Pacific and Rest of the World (RoW). European region dominates the global Bioplastic Food Containers market followed by North America and the Asia Pacific. High adoption of green packaging solutions, as well as the stringent governing framework for synthetic polymers, is anticipated to provide an impetus to the growth of the market. In Europe, the supportive government policies that include helps the consumers to give preference towards procurement of biobased products. Also in EU, member states are reducing the taxes for biobased products.
South America region is expected to grow at the highest CAGR during the forecast period mainly due to abundant availability of raw materials like sugarcane and oilseeds in Brazil. Hence, many bioplastics manufacturers are opening their facilities in the region. Asia Pacific region is another major market for the Bioplastic Food Containers. The demand for packaged and wrapped products has been increasing in the Asia Pacific region, mainly due to the changing lifestyle and the rise in purchasing power. This will lead to an increased demand for Bioplastic Food Containers. China, India, and Indonesia are the major countries in the region. China accounts for the largest share in Bioplastic Food Containers market in the Asia Pacific region.
Segmentation
Global Bioplastic Food Containers market is segmented based on type, application, and region. On the basis of the type, the market is segmented into Bio-PET, PLA, PBS, Bio-PP, and others. Bio-PET segment dominates the market due to extensive use in bottling and packaging industries. It possesses similar properties to conventional PET. It is widely used in the manufacturing of various products such as bottles, food containers, bags, and carry-away cups. Growing demand for eco-friendly bottles and containers is expected to drive the growth of the market. PLA is expected to grow at the highest CAGR during the forecast period. This type of bioplastic is expected to be influenced by incorporation of nanotechnology-based packaging that ensures the safety of products and makes evironament-friendly. The growth of PLA is likely to be driven by its superior mechanical properties and ease of process ability.
On the basis of the application, the market is segmented as plastic bottles, packaging, and others. Packaging segment dominates the market in terms of application and is expected to be the fastest growing application over the forecast period. Bioplastics are broadly used in the packaging industry for food packaging, pharmaceuticals packaging, and goods packaging. It is increasingly used in the single-use packaging materials such as shopping bags. Additionally, growth in awareness about the environment pollution and ban on conventional plastics further boost the growth of the bioplastics market.
Access Full Report With TOC (at) https://www.marketresearchfuture.com/reports/bioplastic-packaging-market-1498
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Datum: 18.03.2020 - 11:09 Uhr
Sprache: Deutsch
News-ID 609215
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Date of sending: 18/03/2020
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