The global bioplastics packaging market size was valued at USD 5.80 billion in 2023. The market is projected to grow from USD 6.33 billion in 2024 to USD 14.07 billion by 2032, exhibiting a CAGR of 10.50% during the forecast period.
Bioplastic packaging, made from bio-based and biodegradable materials, serves various sectors such as food & beverage and personal care. Unlike traditional petroleum-based plastics, bioplastics decompose faster and emit fewer greenhouse gases. The rising demand for sustainable packaging has fuelled the growth of the market.
The COVID-19 pandemic drove a surge in demand for corrugated boxes by altering consumer behaviour. The outbreak also exacerbated plastic pollution with increased use of single-use plastics such mask and gloves. Temporary pauses on plastic bags and a shift to online food deliveries and disposable containers further contributed to this trend.
Fortune Business Insights™ provides this information in its research report, titled “Bioplastics Packaging Market, 2024-2032”.
Top Companies covered in the Bioplastics Packaging Market
- Corbion N.V. (Netherlands)
- Coveris (U.K.)
- Bio Futura (Netherlands)
- Safepack Packaging Solutions (India)
- Amcor Plc. (Australia)
- PLAMFG (U.S.)
- Plantic Technologies (Australia)
- Futamura Group (Japan)
- NatureWorks LLC (U.S.)
- Polymateria Ltd. (U.K.)
Browse Detail Summary for the Bioplastics Packaging Market: https://www.fortunebusinessinsights.com/bioplastic-packaging-market-108066
Segmentation:
Biodegradable Segment Leads owing to Manufacturer Sustainability Goals
On the basis of material, the market is divided into polybutylene succinate (PBS), biodegradable (starch blends, polylactic acid (PLA), polybutylene adipate terephthalate (PBAT), polyhydroxyalkanoates (PHA), and others), bio-based/non-biodegradable (bio polyethylene terephthalate (PET), bio polyethylene (PE), bio polyamide (PA), bio poly trimethylene terephthalate (PTT), and others). The biodegradable material segment secures the largest bioplastics packaging market share. Increasing prioritization of sustainability by manufacturers is leading to the integration of biodegradable materials, boosting the growth of the segment.
Rigid Packaging Segment Dominates Owing to Advancements in Material and Sustainability
On the basis of packaging type, the market is bifurcated into rigid packaging and flexible packaging. The Rigid packaging segment leads the market. Innovations in bioplastic materials and shift toward sustainable packaging solutions are boosting the use of bioplastic in rigid packaging, enhancing shelf appeal and meeting market demands.
Food & Beverage Segment Dominated Owing to Increased Production Capacity
In terms of end-use industry, the market is divided into food & beverages, pharmaceuticals, cosmetic & personal care, consumer goods, and others. The food & beverages segment is set to led the key bioplastics packaging market share. Expansion in food and beverage production capacity drives demand for packaging solutions, including bioplastics, contributing to segment growth.
Bottle Segment Leads Owing to Growing Focus on Sustainable Packaging
In terms of product type, the market is classified into bottles, cups, trays, clamshell, bags, pouch & sachet, and others. The bottle segment dominates with a rising emphasis on sustainable packaging. Key trends include advancements in biopolymer technology to improve durability and recyclability, alongside a shift towards more compostable options.
In terms of region, the market for bioplastics packaging is categorized into Europe, North America, the Asia Pacific, Latin America, and the Middle East & Africa.
Report Coverage:
This market research report provides an in-depth analysis, focusing on top companies, product/service types, Porter’s five forces, key end-use industries, and competitive dynamics. It also examines significant industry developments, market trends, and factors contributing to recent market growth.
Drivers and Restraints:
Rising Bio-based and Biodegradable Packaging Materials Among Manufacturers to Spur Market Growth
Increasing awareness of plastic pollution is driving demand for the product, which offer recyclability and reduced environmental impact. Moreover, growing calls for sustainable food packaging solutions are prompting innovations in bioplastics, attracting new players and fostering bioplastics packaging market growth and competition.
However, competition for biomass feedstocks and irregular supply due to climatic and geopolitical factors restricts bioplastic production scalability.
Regional Insights:
Asia Pacific Dominates the Market Owing to Expanding Population
The Asia Pacific region holds the top position in this market, largely propelled by its burgeoning population. Emerging countries within the region are poised to witness heightened demand for bioplastics packaging, spurred by growth in local electronics and food & beverages sectors.
The Middle East’s evolving lifestyle, fuelled by rising disposable incomes, is driving higher demand for convenience food and contributing to growth in the bioplastic packaging market.
Competitive Landscape:
Key Players are Focusing on Expansion to Offer Advanced Packaging Solutions
In the global bioplastics packaging market, competition is intense and the market is fragmented. Leading companies such as Corbion N.V., Amcor, Berry Coveris, and Bio Futura hold significant market share by providing cutting-edge packaging options. These major players are actively expanding their regional presence and prioritizing innovation. Additionally, numerous other industry participants are committed to offering advanced packaging solutions
Key Industry Development:
March 2021- Nestlé unveiled bio-based lids and scoops made from sugar cane for its children’s and infants’ nutrition products. This packaging reduced Nestlé’s reliance on fossil-based plastics by using renewable plant materials.