Global Biodegradable Plastic Packaging Market: Overview
Biodegradable plastic packaging market is projected to witness immense growth opportunities in the upcoming years. Naturally-derived polymers consisting of multiple agricultural products including starch, cellulose, protein and vegetable oil are biodegradable packaging materials. Mostly renewables and are helpable to preserve a sustainable atmosphere are biodegradable polymers from those sources. The harmful, non-biodegradable, and global warming as well as water and air pollution lead to traditional plastics for packaging. Several governments have, therefore, imposed several regulations prohibiting the use of standard plastic bags, thus increasing the consumption of paper and biodegradable plastic bags for packaging.
This research on the global market for biodegradable plastics is based upon drivers, constraints, opportunities and threats affecting the industry. The study provides an opportunity for the new market entrants to identify growth strategies used by existing market players. Several trends, together with focus points on regional subdivisions of the industry, will have an impact on the trajectory of growth for the global biodegradable plastic packaging market.
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Global Biodegradable Plastic Packaging Market: Notable Developments
Key industrial development influencing the global biodegradable plastic packaging market includes:
- Key industry players are focusing on fresh biodegradable packaging goods to increase market share in the worldwide market for biodegradable packaging. For example, in 2017 the Packaging Group in Canada developed biodegradable packaging from high-starch plants such as corn and grained, made from polylactic acid (PLA).
- Kroger, a company based in the United States, has announced in 2018 that it will be able to handle the plastic bag free in all its nearly 2,800 stores (about 6 billion bags every year, one of the largest food supply chains in the country). Two dozen distinct food chains serve nearly 9 million individuals a day. The demand for biodegradable plastic packaging is anticipated to increase.
- In the context of a growing demand for environmentally friendly beverage packaging throughout Europe, Crown Holdings Inc., a US company in Jakarta, Indonesia, opened a new plant. In view of robust economic growth in the country and its large population, such environmentally-friendly initiatives offer substantial biodegradable packaging potential.
Prominent names in the global biodegradable plastic packaging market are Tetra Pak International SA, Kruger Inc., Amcor Limited, Modi PLC, and Plastic Suppliers Inc.
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Global Biodegradable Plastic Packaging Market: Growth Dynamics
The development of biodegradable plastics led plant producers to growing environmental concerns coupled with high regulatory standards. The growing demand for viable packaging alternatives across sectors such as food, drink and pharmaceuticals fuels demand for biodegradable plastic packaging and thus support the development of the world plastic packaging market on biodegradable products.
The primary motivators for the growth and use of such materials are increasing customer consciousness of the environmental effect of packaging goods and a desire to substitute packaging materials for solutions with reduced carbon footprint (or made of renewable resources).
But high costs are restricting the growth of the biodegradable plastic packaging market as against regular plastic usage because biodegradable plastic comes from the starch of plants and its decomposition requires specific conditions, such as temperature, bacteria, humidity, etc.
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Global Biodegradable Plastic Packaging Market: Regional Outlook
Europe is expected to emerge as leading region in the global biodegradable plastic packaging market in the years to come. European retailers, like Rossmann, Aldi, Coop, and Carrefour, use single or multi-use bioplastic carrier bags, adding a biodegradable bonus.
Advanced government policies further encourage the growth of the plastic packaging market for biodegradable products. For example, the legislation to reduce the number of one-use carrier bags has been implemented by Europe.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Europe
- Latin America
- The Middle East and Africa
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