The global bioplastic packaging market is projected to achieve a significant valuation by 2032, with a robust compound annual growth rate (CAGR) expected throughout the assessment period. Bioplastic packaging is manufactured using biodegradable and renewable materials like oils, fats, and starches. These products find applications across various sectors, including pharmaceuticals, food and beverages, and consumer goods. Increasing focus on sustainability and recyclability is anticipated to drive demand for bioplastic packaging, thereby propelling the market’s growth. Enhanced environmental awareness and the need for eco-friendly packaging solutions are further expected to accelerate the industry’s expansion.

Fortune Business Insights™ provides this information in its research report, titled “Bioplastic Packaging Market, 2024-2032”.

List of Key Players Mentioned in the Report:

  • Tetra Laval International SA (Switzerland)
  • Mondi (U.K.)
  • WestRock Company (U.S.)
  • BASF SE (Germany)
  • Sonoco Products Company (U.S.)
  • Smurfit Kappa (Ireland)
  • Sealed Air (U.S.)
  • Huhtamaki (Finland)
  • Gerresheimer AG (Germany)
  • BALL CORPORATION (U.S.)
  • Ardagh Group S.A. (Luxembourg)
  • Crown Holdings (U.S.)
  • DS Smith (U.K.)
  • International Paper (U.S.)
  • Berry Global Inc. (U.S.)
  • Reynolds (U.S.)
  • Genpack LLC (U.S.)
  • DuPont (U.S.)
  • Uflex Ltd. (India)
  • Evergreen Packaging LLC (U.S.)

Segmentation:

BIO-PET Segment Registers a Dominant Share Due to Increasing Demand for Ready-to-Eat Food Containers

By material, the market is subdivided into BIO-PET, BIO-PE, BIO-PA, PLA, and others. The BIO-PET segment accounts for a dominating share in the market. This is due to the soaring demand for ready-to-eat meal cups, containers, and bottles in the food and beverage industry.

Bottles Segment Accounts for Key Share Driven by Escalating Food and Beverage Consumption

Based on product, the market for bioplastic packaging is segmented into bottles, pouches & sachets, trays, cramshells, cups, films, bags, and others. The bottles segment holds a major share in the market. This can be attributed to the increasing consumption of food & beverages across the globe.

Rigid Segment to Hold Prominent Share Impelled by Rising Sustainable Packaging Demand

By packaging type, the market is fragmented into rigid plastic packaging and flexible packaging. The rigid plastic packaging segment is poised to hold a key share in the global market considering the soaring demand for sustainable packaging solutions.

Food & Beverages Segment Records Key Share Driven by Popularity of Ready-to-Eat Foods

On the basis of end-use, the market for bioplastic packaging is divided into food & beverages, consumer goods, pharmaceuticals, industrial goods, personal care & cosmetics, and others. The food & beverages segment accounts for a dominating share in the market. This is due to the increasing popularity of quick service restaurants and ready-to-eat foods.

Based on geography, the market for bioplastic packaging has been studied across North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.

Report Coverage:

The report provides an analysis of the industry scenario on the basis of various segments. The market has been studied on the basis of material, product, packaging type, end-use, and geography. The report also gives an account of the major industry trends, driving factors, and restraining factors.

Drivers and Restraints:

Surging Awareness Regarding the Environmental Impact of Single-use Plastics to Propel Industry Expansion

The escalating awareness regarding the environmental impact of using single-use plastic packaging solutions is poised to fuel bioplastic packaging market growth over the coming years. The industry expansion is favored by the enforcement of stringent policies associated with the use of single-use plastics.

However, the high costs involved in the production of bioplastics could hamper the market expansion.

Regional Insights:

Europe Market to Register Significant Growth Impelled by the Presence of Strict Environmental Policies

The Europe bioplastic packaging market share is set to record significant expansion over the forecast period. This is due to the presence of stringent environmental policies.

The Asia Pacific market is poised to expand at a steady rate considering the soaring demand for lightweight packaging across the pharmaceutical and automotive sectors.

Competitive Landscape:

Leading Companies Enter Partnerships to Strengthen their Industry Positions

Pivotal industry players are entering partnership agreements to consolidate their positions in the global market. Besides, companies are also launching new products. These steps are being adopted to gain an edge over their competitors.

Key Industry Development:

August 2022 – L.G. Chem and Archer Daniels Midland Co entered a partnership for establishing two new manufacturing units. The facilities would produce bioplastics for the food & beverage industry.

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