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Biopolymers Packaging Market Size, Share, Trend By 2028

Biopolymers Packaging Market Size, Share, Trend By 2028

Research Nester has released a report titled “Biopolymers Packaging Market– Global Demand Analysis & Opportunity Outlook 2028″ which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter’s five force model.
The European Bioplastics fact sheet 2019, stated that global biopolymers packaging accounted for the 53% volume consumption out of the total production of biopolymers.
The statistics portray the growing demand for biopolymers as packaging materials in end user industries across nations worldwide. In the packaging industry, most of the plastics that is generated by the packaging industry, are consumed for producing different packaging materials, which is contributing to the environmental concern for the generation of huge amount of plastic waste. Increasing concern for the environment worldwide along with the measures taken by the government of nations worldwide for curbing such an issue, such as the development of research and development centers for producing advanced biopolymers which can be used as packaging raw materials are some of the factors anticipated to drive the growth of the global biopolymers market.

Biopolymers packaging is defined as the packaging process which deals with bio-degradable polymer materials. Biopolymer packaging materials promote greater recycling characteristics over conventional packaging materials. Currently, biopolymers represent about 1% of the total polymer produced and 0.33% of the polymer consumed for the packaging. The global biopolymers packaging market is anticipated to achieve a CAGR of 21.0% across the globe over the forecast period, i.e. 2021-2028. The global biopolymers packaging market is expected to garner USD 17309.0 million by the end of 2028 from USD 4560.0 million in the year 2019. The market which was valued at USD 3575.0 million in the year 2020 is further expected to gain an absolute $ opportunity of USD 12754.4 million during the forecast period.

Geographically, the global biopolymers packaging market is segmented by five major regions into North America, Europe, Middle East & Africa, Asia-Pacific and Latin America region, out of which, the market in Asia Pacific region held the largest market share of 55% in the year 2019. The market in the region is primarily driven by nations such as China, Japan and South Korea, along with the increasing exports of biopolymers to regions such as North America and Europe, where the consumption of biopolymers is severely high.

However, concerns for the high cost of biopolymers over conventional packaging raw materials, which also raises the concern of manufacturers of biopolymers packaging for operating their businesses in lower profitability are some of the factors anticipated to limit the growth of the global biopolymers packaging market.

This report also studies the existing competitive scenario of some of the key players of the global biopolymers packaging market, which includes the profiling of BASF SE (ETR: BAS), NatureWorks LLC, and Arkema SA (EPA: AKE). Besides, several players operating in the global biopolymers packaging market are increasingly focusing on research and developmental activities for the development of advanced biopolymers that can contribute significantly towards the growth of the global biopolymers packaging market. Moreover, several other players in the packaging industry are increasingly expanding their processes by investing on the deployment of biopolymer packaging plants.

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