Bio Based Plastic Packaging Market is growing at a rapid pace. Bioplastics are plastics derived from renewable biomass sources, such as vegetable fats and oils, corn starch, pea starch, or microbiota. Bio Based Plastic Packaging can be used in a wide range of applications, including food packaging, consumer goods packaging, and medical packaging.
The bioplastics for packaging market is estimated at USD 10.5 billion in 2022 and is projected to reach USD 16.6 billion by 2027, at a CAGR of 9.5% from 2013 to 2021.
The increasing demand for sustainable packaging solutions is one of the major drivers of the bioplastics for packaging market. Bioplastics are biodegradable and compostable, which means that they do not contribute to the growing problem of plastic pollution. Additionally, bioplastics have a lower carbon footprint than traditional plastics, making them a more environmentally friendly option.
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The food and beverage industry is one of the major end-users of bioplastics for packaging. Bioplastics are used in packaging for a wide range of food products, including fruits, vegetables, and processed foods. Bioplastics for packaging are also used in the packaging of non-food products, such as cosmetics, personal care products, and medical devices.
Another key driver of the bioplastics for packaging market is the increasing government support for the use of bioplastics. Many governments around the world are promoting the use of bioplastics as a means of reducing plastic pollution and promoting sustainability. This includes the implementation of regulations and incentives for the use of bioplastics in packaging.
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The global bioplastics for packaging market is segmented based on raw material, application, and geography. On the basis of raw material, the market is segmented into starch-based, cellulose-based, and others. Starch-based bioplastics are the most widely used raw material for bioplastics for packaging, due to their low cost and availability. Cellulose-based bioplastics are also gaining popularity, due to their biodegradability and compostability.
On the basis of application, the market is segmented into food packaging, consumer goods packaging, and medical packaging. Food packaging is the largest application segment of the bioplastics for packaging market, due to the increasing demand for sustainable packaging solutions in the food and beverage industry. Consumer goods packaging and medical packaging are also growing segments of the market, due to the increasing use of bioplastics in these industries.
Regional Analysis-
Geographically, the market is segmented into North America, Europe, Asia Pacific, and Rest of the World. Asia Pacific is the largest market for bioplastics for packaging, due to the increasing demand for sustainable packaging solutions in the region. North America and Europe are also significant markets for bioplastics for packaging, due to the growing awareness of the environmental benefits of bioplastics and the presence of a large number of bioplastics manufacturers in these regions.
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The Key Players Are:
- Tetra Pak International SA
- ALPLA-Werke Alwin Lehner GmbH & Co KG
- Berry Global Inc.
- Uflex Ltd.
- Toray Industries Inc.
- BARBIER GROUP
- Jolybar Group
- Biome Bioplastics Limited
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