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Global bioplastic packaging materials market forecast to surge between 2015 and 2019

Analysis from Technavio (London) predicts that the global bioplastic packaging materials market will grow at a 23% compound annual growth rate between 2015 and 2019. According to the report, the demand for bioplastics is expected to surge during the forecast period because of an increased need for eco-friendly packaging. Increased awareness of the benefits of bioplastic packaging among end users is propelling growth.

However, the report also found that a major challenge for the development of this market is the high cost of producing bioplastic materials, which is currently acting as a major restraint for market vendors. Widening of the demand-supply gap in the last few years has led to a substantial increase in the cost of raw materials.

Bioplastics are plastics made from renewable biomass sources or food crops such as vegetable fat, cornstarch, vegetable oil, pea starch and microbiota. The different types of bioplastics available include polymers that are directly extracted from biomass and processed; polymers that are made from biobased precursors such as PLA; and polymers that are made by bacteria such as PHA and PHB.

The report divides the market for bioplastic packaging materials into two segments, based on application, namely flexible and rigid packaging. On the basis of product type, the report distinguishes five different segments: bio-PET, PLA and PLA blends, starch blends, bio-PE and others, a category that includes durable starch blends, bio-PC, bio-PTE, bio-PUR, bio-PA, PPT and other cellulose-based products.

The Global Bioplastic Packaging Materials Market 2015-2019 report has been prepared based on an in-depth market analysis with input from industry experts. The report covers the APAC region, Europe, North America and ROW; it also covers the global bioplastic packaging materials market landscape and its growth prospects in the coming years. The report includes a discussion of key vendors—Arkema, BASF, Braskem, NatureWorks and Novamont—operating in this market. Various other manufacturers active in the bioplastics packaging area are also looked at.

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