Bioplastic Packaging Market Size Share, Trends & Future Scope Report 2030

The Bioplastic Packaging Market is expected to surge to USD 39.76 billion by 2031, fueled by sustainability and bioplastics' rise in flexible packaging.

AUSTIN, TEXAS, USA, June 21, 2024 /EINPresswire.com/ -- The Bioplastic Packaging Market Future Scope was valued at USD 13 billion in 2023 and is expected to reach a value of USD 39.76 billion by 2031, reflecting a projected CAGR of 15%, according to the SNS Insider report.

Driven by growing environmental concerns, rising consumer demand for sustainable products, and stricter regulations on traditional plastics, the bioplastics packaging market is flourishing. Bioplastics offer an eco-friendly alternative made from renewable resources, often biodegradable, which helps combat plastic pollution and dependence on fossil fuels. Production capacity is expected to jump from 2.11 million metric tons in 2020 to 2.7 million by 2025, with major brands like Vittel and Johnson & Johnson already adopting bio-based packaging for beverages and cosmetics. While the Russia-Ukraine war presents challenges like supply chain disruptions and fluctuating raw material prices, the long-term outlook for bioplastics packaging remains positive due to its focus on sustainability and resource efficiency.

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Segment Analysis
Eco concerns fuel bioplastics growth, with biodegradables leading at 55.5%.
Derived from sustainable sources like sugarcane, Bio-PE offers an eco-friendly alternative to traditional plastics. This bioplastic replicates the familiar durability, versatility, and recyclability of PE, while key advantage is carbon neutrality. Bio-PE achieves this by balancing the CO2 released during production with the CO2 absorbed by the plants that create it, making it a responsible choice for environmentally conscious consumers and manufacturers.

By Material
- Biodegradable
- Non-Biodegradable
- By Packaging Type
- Flexible
- Rigid

By Application
- Food & Beverages
- Pharmaceutical
- Consumer Goods
- Cosmetics
- Others

Rigid Packaging lead in Bioplastic Packaging market
Rigid bioplastics, commonly found in cosmetic compacts and beverage bottles, are forecast to dominate the bioplastics packaging landscape with a 58% market share. This dominance stems from their versatility across various applications. Additionally, bioplastics offer a significant environmental benefit by considerably reducing decomposition times compared to traditional plastics.

Recent Developments
- In January 2023, South Korean company Dexlavo Inc. made a splash in the anti-aging world with their groundbreaking "Collagenesis-Enabled Solubilized Active" technology. This first-of-its-kind injectable treatment harnesses the power of Polycaprolactone (PCL), a biodegradable polymer, to stimulate natural collagen production within the skin.
- South Korean bioplastics leader CJ Biomaterials, a division of CJ CheilJedang, is collaborating with Riman Korea in August 2023. This partnership focuses on developing eco-friendly packaging for Riman's premium IncellDerm line. They'll achieve this by blending CJ Biomaterials' patented PHA technology with polylactic acid (PLA), a sustainable alternative to traditional plastics.

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Regional Insights: Europe Bioplastics Powerhouse
Fueled by the EU's Green Deal and growing eco-consciousness, Europe leading in the bioplastics market. Boasting a significant share of production capacity, robust R&D, and high demand for sustainable packaging 35.5% market share, this sector offers a promising path towards a healthier environment and economic growth, particularly in rural areas. With expanding composting infrastructure and government initiatives like the USA's 2030 Food Loss and Waste Reduction Goal, the demand for bio-based or compostable collection bags is set to rise. Meanwhile, the Asia Pacific region, driven by its booming packaging industry, downsizing trends, and increasing use of non-biodegradable materials, is also projected for significant growth in the bioplastics market.

Major Players Listed in this Report are:
- Genecis
- Mondi
- Sealed Air
- Novamont S.p.A
- Coveris
- Amcor Plc
- Transcontinental Inc
- Constantia Flexibles
- CJ Biomaterials, Inc
- Alpha Packaging

Key Takeaways
- Composting expansion, supportive regulations, and Asia's packaging boom fuel bioplastics growth.
- Bioplastics, sourced from renewable resources, offer a sustainable alternative to traditional plastics, curbing plastic pollution and our dependence on fossil fuels.
- Europe dominating the bioplastics market with a commanding 35.5% share, driven by the EU's Green Deal policies, robust R&D efforts, and strong consumer preference for sustainable packaging.

Table of Contents – Key Points
1.Introduction
2.Research Methodology
3.Market Dynamics
4.Impact Analysis
5.Value Chain Analysis
6.Porter’s 5 forces model
7.PEST Analysis
8.Bioplastic Packaging Market Segmentation, By Material
9.Bioplastic Packaging Market Segmentation, By Packaging Type
10.Bioplastic Packaging Market Segmentation, By Application
11.Regional Analysis
12.Company Profiles
13.Competitive Landscape
14.Conclusion
Continue....

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Akash Anand
SNS Insider Pvt. Ltd
+1 415-230-0044
info@snsinsider.com