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
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. Stringent regulations over conventional plastic use in food, beverage, and medical packaging has led to increasing adoption of these. Under the Plastic Bags Directive in the EU, consumers cannot use more than 90 bags a year by 2019, down from the EU average of 200 bags a year. This is expected to boost both demand and manufacturing capacity of bioplastics in the region.
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Top Keyplayers: BASF SE, Koninklijke DSM N.V., NatureWorks, LLC, Metabolix, Inc., and The Dow Chemical Company., among others.
• Global Bioplastic Packaging Market, By Product Type:
• Global Bioplastic Packaging Market, By Application:
◦ Food & Beverages
◦ Consumer Goods
◦ Industrial Goods
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