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Biodegradable Plastic Packaging Market 2019-2024 Comprehensive Analysis of Leading Key Players with Significant Growth Rate and Gross Margin Forecast to 2024

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Biodegradable Plastic Packaging

Biodegradable Plastic Packaging Market” report 2019-2024 provides detailed summary of company competition, market demand, regional forecast, marketing price and new investment feasibility analysis is included of Biodegradable Plastic Packaging market. It also covers approximate CAGR, key-players, scope of the report, regional analysis, major market factors of Biodegradable Plastic Packaging market, reasons of buying this report and complete TOC of report.

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There are 4 key segments covered in this Biodegradable Plastic Packaging Systems Market report:

  • Competitor segment
  • Product type segment
  • End-use/application segment
  • Geography segment

Market Overview:

  • The biodegradable plastic packaging market was valued at USD 3.97 billion in 2018 and is expected to reach a market value of USD 10.3 billion by 2024, registering a CAGR of 17.04% during the forecast period 2019 – 2024.
  • – Growing environmental concerns regarding plastic usage that consists of toxic pollutants which are harming plants, animals, and people are driving the use of biodegradable plastic alternatives. Floating plastic waste that can survive thousands of years in water can serve as a transportation device for invasive species that disrupt habitats are contributing to market growth.
  • – Stringent regulations by various government and federal agencies with an objective to reduce plastic waste and promote biodegradable plastics usage in packaging is boosting the demand of this market. Regulations related to green packaging is increasing and various FMCG companies are required to adopt biodegradable packaging to comply with the standards which in turn is propelling the growth of this market.
  • – However, high costs as compared to normal plastic is restraining the market, as biodegradable plastic is made from plant starch material and its decomposition needs specific conditions like temperature, bacteria, humidity etc, which may not be available in most of the dump yards and landfills and it add up to high cost.

    Biodegradable Plastic Packaging Market by Key Players:

  • Tetra Pak International SA
  • Plastic Suppliers Inc.
  • Kruger Inc.
  • Amcor Limited
  • Mondi PLC
  • International Paper Company
  • Smurfit Kappa Group PLC
  • Bemis Company Inc.
  • DS Smith PLC
  • Klabin SA
  • Rengo Co. Ltd

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    Scope of the Report:

  • Biodegradable plastics are very much used in packaging industry as they are ecologically friendly. With increasing crude oil prices and issues related to petroleum-based plastics such as disposal and efficient waste management, the concept of using biodegradable plastics as an alternative in various applications, such as FMCG, hospital, manufacturing is increasing, which is driving the market.
  • Key Market Trends:

    Use of Bioplastics is Stimulating the Market Growth

    – The overarching problem of climate change and the expected future shortage of fossil resources have accelerated the search for better concepts for plastics packaging. Bioplastics packaging offers the same qualities as conventional packaging, while exposing much greater sustainability features.
    – There is a high demand for packaging made from bioplastics to be used for wrapping organic food as well as for premium and branded products with particular requirements. A combination of recycling components from conventional plastics such as rPET with bioplastics (bio-based PET), gives a high performance and processing of bioplastics packaging. Biodegradable food packaging certified as industrially compostable was the first successfully commercialised bioplastic product.
    – Rigid bioplastics applications are increasing for cosmetics packaging of compact powders, creams and lipsticks, as well as beverage bottles. Materials such as PLA, bio-based PE, or bio-based PET are used in this section. The high percentage of bio-based material in these products and the ability to combine them with recyclates from conventional PE and PET has resulted in a decisive increase in resource efficiency and a reduction of CO2 emissions, which will increase the market growth in future.
    – Retailers across Europe such as Rossmann, Aldi, Coop, and Carrefour use single or multi-use carrier bags made from bioplastics with the add-on bonus of biodegradability. Certified biodegradable/compostable cups are also used at big events or in major football stadiums throughout Europe.

    Europe is Expected to Witness a Significant Growth Rate Over the Forecast Period

    – The transition to a low-carbon and circular economy, stronger policy support for the bioeconomy, and increased consumer awareness for sustainable products and packaging are driving the expansion of the market in Europe.
    – European Union’s decision to reduce overall consumption of thin plastic bags in the region by about 80% by 2019, compared to 2010 consumption levels, is expected to create huge growth opportunities for biodegradable plastics manufacturers over the next five years.
    – The demand for biodegradable plastics is witnessing a significant rise from conventional end-user industries such as packaging, agriculture and textile. The use of biodegradable plastics, especially in European countries, is also increasing in other niche segments such as medical implants and drug delivery systems, etc, which is driving the overall market growth.

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    Biodegradable Plastic Packaging Market Covers Following Points in TOC:

    • Chapter 1: Biodegradable Plastic Packaging Market Definition
    • Chapter 2: Research Methodology of Biodegradable Plastic Packaging Market
    • Chapter 3: Biodegradable Plastic Packaging Market Executive Summary
    • Chapter 4: Biodegradable Plastic Packaging Market Overview Includes Current Market Scenario, Porter’s Five Forces Analysis, Bargaining Power of Suppliers and Consumers, Threat of New Entrants and Substitute Product and Services
    • Chapter 5: Market Dynamics Covers Drivers, Restraints, Opportunities and Challenges
    • Chapter 6: Biodegradable Plastic Packaging Market Segmentation by Types, End-User, and Applications Forecast to 2024
    • Chapter 7: Biodegradable Plastic Packaging Market Segmentation by Geographical Regions
    • Chapter 8: Competitive Landscape of Biodegradable Plastic Packaging Market Includes Mergers & Acquisition Analysis, Agreements, Collaborations, and Partnerships, New Products Launches
    • Chapter 9: Key Players for Biodegradable Plastic Packaging Market

    Report PageBiodegradable Plastic Packaging Market – Growth, Trends, and Forecast (2019 – 2024)

     

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