What is Bioplastics and Biodegradable Plastics Packaging?
Bioplastics and Biodegradable Plastics Packaging are those that can be broken down by living organisms, typically microbes, into the water, carbon dioxide, and biomass. Renewable raw materials, microorganisms, petrochemicals, or combinations of all three are commonly used to make biodegradable plastics. While the terms "bioplastic" and "biodegradable plastic" sound similar, they are not interchangeable. Bioplastics (plastics derived in part or entirely from biomass) are not all biodegradable, and some biodegradable plastics are entirely petroleum-based. As more businesses strive to be seen as "green," solutions such as the use of bioplastics are being researched and implemented more frequently. However, many skeptics believe that bioplastics will not solve the problems that others anticipate. Bioplastics are derived from natural sources such as corn starch. Biodegradable plastics are derived from traditional petrochemicals and engineered to degrade more quickly. Plastics made from recycled plastic materials rather than raw petrochemicals are known as eco/recycled plastics.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | BASF SE (Germany), Eastman Chemical Company (United States), Plantic Technologies (Australia), Futamura Group (United Kingdom), NatureWorks LLC (United States), Polymateria Ltd (United Kingdom), TIPA Corp Ltd (Israel), Biome Bioplastics Limited (United Kingdom), Tetra Pak International SA (Switzerland) and Plastic Suppliers Inc. (United States) |
The study covers a detailed analysis segmented by key business segments i.e. by type (Bio-Based Plastics, Polyhydroxyalkanoates (PHAs), Polylactic acid (PLA), Starch Blends, Cellulose-Based Plastics, Lignin-based polymer composites, Petroleum-based plastics and Others) , by application (Food and Beverage, Pharmaceutical, Personal, Homecare and Others) and major geographies. Research Analyst at AMA predicts that United States & United Kingdom Vendors will contribute to the maximum growth of Global Bioplastics and Biodegradable Plastics Packaging market throughout the predicted period.
The competition is expected to become even more intense in the years to come due to the entry of several new players in the market. To help clients improve their revenue shares in the market, this research study provides an in-depth analysis of the markets competitive landscape and offers information on the products offered by various leading companies. Additionally, this Bioplastics and Biodegradable Plastics Packaging market report suggests strategies that Vendors can follow and highlights key areas they should focus on, in order to take maximum benefits of growth opportunities.
The report offers several leading Vendors, some of them are BASF SE (Germany), Eastman Chemical Company (United States), Plantic Technologies (Australia), Futamura Group (United Kingdom), NatureWorks LLC (United States), Polymateria Ltd (United Kingdom), TIPA Corp Ltd (Israel), Biome Bioplastics Limited (United Kingdom), Tetra Pak International SA (Switzerland) and Plastic Suppliers Inc. (United States).
Market Overview:
On 5th October 2020, Danimer Scientific, a next-generation bioplastics company that focuses on the creation and production of biopolymers, and Live Oak Acquisition Corp., a public company special-purpose acquiring corporation, announced the signing of a memorandum of understanding for a business combination that will result in Danimer Scientific becoming a public company. Following the completion of the transaction, the combined company will be renamed Danimer Scientific and will be listed on the NYSE under a new ticker symbol.
Chemical registration regulations apply to both new and existing (bio) plastics with a production capacity of more than one tonne. There are such regulations in place all over the world to reduce the uncontrolled release of toxic substances. At the EU level, the REACH regulation prohibits substances of very high concern [SVHCs, i.e., carcinogenic, mutagenic, or toxic for reproduction (CMR), persistent and/or bio-accumulative substances], which currently account for only 205 small molecules. However, given the cumulative and negative impact of (micros) plastics, they should be included in the list of SVHCs. However, the restriction process is time-consuming and expensive; before the review period, the manufacturer must conduct all product and biodegradability testing in a GLP-certified laboratory.
The bioplastic and biodegradable plastic packaging market is highly fragmented as global players focus on developing new technologies to produce plastic packaging materials from a variety of readily available natural resources. Massive investments in research and development by market participants to develop an innovative product create intense competition in the market. Tetra Pak International SA, Plastic Suppliers Inc., Kruger Inc., and others are key players.
Influencing Trend:
Increasing Inclination towards Premium Bottled Water and Imported Brands, High Demand due to Growing Food and Beverages Industry and Increased Focus to Enhance End to End Customer Experience
Market Growth Drivers:
High Adoption for Bioplastics and Biodegradable Plastics Packaging and Increased Penetration of Pouch and Bottles in Medical Application
Challenges:
Threat of Privacy and Bioplastics Packaging and Lack of Skilled Plastics Packaging
Restraints:
Government Initiation for Less Usage of Plastics and Higher Cost Involved in Deploying Bioplastics and Biodegradable Plastics Packaging Solutions
Opportunities:
High Demand from Food and Beverage Industry of Emerging Countries and Increased Adoption of the Bioplastics and Biodegradable Plastics Packaging
Key highlights of the Global Bioplastics and Biodegradable Plastics Packaging market Study:
CAGR of the market during the forecast period 2021-2027
In-depth information on growth factors that will accelerate the Bioplastics and Biodegradable Plastics Packaging market in next few years.
Detailed Insights on futuristic trends and changing consumer behavior
Forecast of the Global Bioplastics and Biodegradable Plastics Packaging market size and its contribution to the parent market by type, application and by country.
A broad view of customer demand
Uncover markets competitive landscape and in-depth information on various Vendors
Comprehensive information about factors that will challenge the growth of Bioplastics and Biodegradable Plastics Packaging Vendors
Transformation and Important Triggers:
Business transformation has taken hold across the broad corporate landscape due to the confluence of several important triggers, including:
A tipping point in globalization
A major slowdown in Western economies
Significant shifts in technology and cost structure
The challenges of regulatory compliance
New forms of competition developing
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Bioplastics and Biodegradable Plastics Packaging market.
In order to reach an exhaustive list of functional and relevant players, various industry classification standards are closely followed such as NAICS, ICB, and SIC to penetrate deep into important geographies by players, and a thorough validation test is conducted to reach the most relevant players for survey in Bioplastics and Biodegradable Plastics Packaging market.
In order to make a priority list sorting is done based on revenue generated based on the latest reporting, using paid databases such as Factiva, Bloomberg, etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment> by targeting key target audience that includes New Entrants/Investors, Analysts and Strategic Business Planners, Bioplastics and Biodegradable Plastics Packaging Manufacturers, Bioplastics and Biodegradable Plastics Packaging Suppliers & Distributors, Government Bodies, End-Users and Others.
This helps us to gather the data for the players revenue, operating cycle and expense, profit along with product or service growth, etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that include Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, Annual reports, press releases, etc.