Chemical Research Report Bioplastic-Packaging-Market

Bioplastic Packaging Market - Size,
Share, Outlook, and Opportunity
Analysis, 2018 - 2026
Europe held the largest market share in the global bioplastic packaging market in 2016. This is owing
to high consumer awareness, supportive government initiatives, and continuous innovation in
biodegradable packaging the market.
A bioplastic is a biodegradable group of polymers that are manufactured using renewable-based sources.
Conventional plastics is hazardous due to the impact on the environment and their heavy reliance on the oil and
gas industry for raw materials such as naphtha. Conventional plastic is widely used for packaging of casings,
electronics, and food products, amongst others. This, in turn, is negatively impacting the environment, leading
to increasing land and marine pollution.
Major factors driving growth of the global bioplastic market is rising adoption of bioplastic packaging
solutions, due to their environment friendly and biodegradable nature. Bioplastics packaging solutions
are effective packaging option as compared to plastic based packaging due to the large scale
availability of degradable and renewable based raw materials used in the production of bioplastic
packaging. Bioplastics significantly help in the reduction of poisonous VOC emissions as compared to
conventional plastic packaging solutions.
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However, biodegradable packaging is relatively expensive than conventional plastic. This is owing to high
manufacturing cost of biodegradable material to offer properties similar to conventional plastic packaging. This
is expected to be a major restraining factor for growth of the market. According to the European Bioplastics
Organization, as of 2017, bioplastics represent a mere 1% of around 320 Mn tons of the global plastic
production.
Food and beverages segment is expected to be dominant, accounting for 76.12% of the market share in terms of
revenue in 2016, and is expected to reach 77.12% by 2025. It is expected to exhibit a CAGR of 27.94% over the