Bioplastics Packaging Market Overview
The global bioplastics packaging market is expected to grow at a CAGR of 15.2% over the forecast period (2021-2026). Bioplastics packaging solutions are finding increasing applications in packaging owing to their low environmental impact, growing focus on recyclability and sustainability, government emphasis on efficient packaging management, and rising consumer awareness, coupled with increasing bans on single-use plastic. According to European Bioplastics (Association of Bioplastics), global bioplastics production capacity is set to increase from 2.11 million metric tons in 2020 to approximately 2.7 million metric tons in 2025. The organization stated that a total of 1,227 metric tons of biodegradable bioplastics and 884 bio-based non-biodegradable bioplastics were produced in 2020.
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Bioplastics Packaging Market - Geographical Overview
Europe holds the maximum bioplastic packaging market share
The European Union (EU) is working towards the 2050 net-zero emissions goal and tackling the increasing environmental and sustainability crisis by implementing the European Green Deal. The inclination towards a more sustainable society is intertwined with the European economy's production, use, and disposal of plastic. Europe strengthened its position as a central hub for the entire bioplastics industry and ranked foremost in the field of research and development, having this industry’s largest market worldwide. By now, one-fourth of the overall bioplastics production capacity is located in Europe.
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Key Highlights of the Bioplastics Packaging Market
- The global bioplastics packaging market consists of several major players. The major players with a prominent share in the market are focusing on expanding their customer base across the regions and the end-user industry base. Some of the major players operating in the market include BASF SE, Tagleef Industries Group, Alpagro Packaging, and Amcor Ltd.
- The increasing initiatives by the government and the related regulatory bodies to promote bioplastics usage is expected to boost market growth over the forecast period. For instance, Japan unveiled a new policy to increase plant-based bioplastics to tackle marine plastic waste. In a move that would see the country recycle 100% of newly produced plastics by 2035 and promote bioplastics from plant-based sources.
Recent Developments in the Bioplastics Packaging Market
- In July 2021, TIPA Corporation Ltd. partnered with Amcor to manufacture compostable packaging in Australia and New Zealand to look for plastic alternatives to reduce waste. Amcor will manufacture, supply, and distribute the product under an exclusive partnership with TIPA, including fresh food and bakery items, allowing traditional plastic bags and packaging to be removed from the waste stream.
- In Jan 2021, Taghleef Industries introduced a new range of bio-based polypropylene (PP) films to its biobased portfolio. Taghleef's bio-based PP films are biodegradable packaging options that are a bio-based alternative to films generated from fossil fuels. ISCC Plus certified Ti's biobased PP films could be used in the same packaging and labeling applications as typical grades made of fossil-based raw materials.
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List of Key Players in the Bioplastics Packaging Market
- TAGHLEEF INDUSTRIES GROUP
- BASF SE
- Mitsubishi Chemicals Corporation
- Alpagro Packaging
- Biome Bioplastics Limited
- FKuR Ploymers GmbH
- Raepak Ltd.
- COMPOSTPACK SAS
- Eastman Chemical Company
- Element Packaging Ltd
- Treemera GmbH
- Plasto Manufacturing Company
- Arkema SA
- Tipa-corp Ltd.
- Minima Technology
- Mondi PLC
- Amcor Limited
- Plastic Suppliers Inc.
- Biogreen Packaging Pvt. Ltd.
- Tetra Pak International SA
*List Not Exhaustive
Mordor Intelligence has segmented the global bioplastics packaging market on the basis of material, product, end-user industry, and geography:
- Material (Market Size & Forecast based on Revenue (USD million), 2019-2026)
- BIO - PET
- BIO - PE
- BIO - PA
- Other Bio-Based/Non-Biodegradable Materials
- Starch Blends
- PLA
- PBAT
- PHA
- Other Biodegradable Materials
- Product Type (Market Size & Forecast based on Revenue (USD million), 2019-2026)
- Rigid Plastic Packaging (Bottle, Tray, Tubes, Caps, Cups, Cutlery, Blister Packaging)
- Non-biodegradable Biopolymers
- Flexible Packaging (Pouch, Film, Labels, and Others)
- End-user Industry (Market Size & Forecast based on Revenue (USD million), 2019-2026)
- Food
- Beverage
- Pharmaceuticals
- Personal Care & Household Care
- Other End-user Applications
- Geography (Market Size & Forecast based on Revenue (USD million), 2019-2026)
- Asia-Pacific
- North America
- Europe
- South America
- Middle-East and Africa
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