Bioplastic Packaging Market Analysis | 2023-2028

Market Insights

The bioplastic packaging market was estimated at USD 14.38 billion in 2022 and is likely to grow at a CAGR of 16.58% during 2023-2028 to reach USD 36.10 billion in 2028.

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Market Dynamics

Introduction

Biodegradable plastics that are made up of biological substances without petroleum are termed bioplastics. They are generally produced with microorganisms, renewable raw materials, petrochemicals, or combinations of all three.

Market Drivers

The major factors driving the growth of the bioplastic packaging market are:

• Increasing concerns for the environment due to climate change and global warming are forcing governments and organizations to shift towards bioplastic products.
• Reduction in plastic products will result in a reduction in greenhouse effects, a major factor responsible for climate change and global warming.
• These efforts to reduce greenhouse gas emissions coupled with growing awareness to reduce the amount of organic waste, are driving the bioplastic packaging market.

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Key Players

Some of the major players in the global market are:

• Arkema S.A.
• BASF SE
• Braskem S.A
• Dow Chemical Company
• Innovia Films, Ltd
• Koninklijke DSM N.V.
• Metabolix, Inc.
• Nature Works
• Novamont S.p.A, LLC

Note: The above list does not necessarily include all the top players in the market.

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Segment Analysis

By Product Type

The market is segmented into rigid packaging and flexible packaging. The flexible packaging segment is expected to be the largest market with a share of more than 50% and is a higher-growing segment during the forecast period owing to its vast application in beauty & personal care products and as bottles for beverages.

Regional Insights

Europe is estimated to be the largest region with a share of more than 30% of the global market during the forecast period. Growing awareness among the population towards the harmful effects of plastics coupled with government initiatives and regulations have resulted in increased use of bioplastics in the region.

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Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects bioplastic packaging market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market covering 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The bioplastic packaging market is segmented into the following categories:

By Material Type

• BIO-PET
• BIO-PE
• BIO-PA
• Other Bio-Based/Non-Biodegradable Material
• Starch Blends
• PLA
• PBAT
• PHA
• Other Biodegradable Materials

By Product Type

• Rigid Packaging
• Flexible Packaging

By End-Use Industry Type

• Food
• Beverage
• Pharmaceuticals
• Personal Care & Household Care
• Others

By Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Russia, and The Rest of Europe)
• Asia-Pacific (Country Analysis: Japan, China, India, and the Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Brazil, Argentina, and Others)

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Report Customization Options

Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected].