Bioplastic Packaging Market Size, Share and COVID-19 Impact Analysis, By Material (BIO-PET, BIO-PE, BIO-PA, PLA, and Others), By Product Type (Bottles, Pouches & Sachets, Trays, Clamshells, Cups, Films, Bags, and Others), By Packaging Type (Rigid Plastic Packaging and Flexible Packaging), By End-use (Food & Beverages, Consumer Goods, Pharmaceuticals, Industrial Goods, Personal Care & Cosmetics, and Others), and Regional Forecast, 2024-2032

Bioplastic packaging is created using renewable, biodegradable products, such as starch, fats, and oils, which serve the purpose of packaging different products in different industries like consumer goods, food & beverages, pharmaceuticals, etc. Global bio-plastic packaging solutions have seen an increase in demand owing to the low environmental impact and the rise in focus towards recyclability and sustainability. The government is also emphasizing more on efficient packaging solutions. Consumers are also more aware now and inclined towards renewable and recyclable packaging. Due to the ban on single-use plastic in many places now, the growth of the global bioplastic packaging market is expected to grow in the forecast period.

• For instance, On March 2023, PepsiCo started working with several bioplastics companies to design fully compostable bags; the Executive released information in ANTEC 2023.

The surge in the support offered by the government to the companies who are using bioplastic material in replacement of traditional and chemical-based plastic generates sufficient demand & revenue for the global bioplastic packaging industry. The mounting awareness in the global population about the environmental impact of single-use plastic packaging solutions is also contributing to the augmentation of the global bioplastic packaging market. Furthermore, the government's ban on single-use plastic products is also encouraging the global bio-plastic packaging market to flourish in the coming future.

One of the major restraints is the high cost of producing bioplastic. Bio-plastics are bio-degradable but cannot be easily decomposed like any other naturally produced organic matter. Significant money goes into balancing out the physical properties of plastic with a combination of organic materials, which eventually increases the overall cost of production. The government is bringing innovation & incentives are likely to reduce the price gap, which is holding back the global bio-plastic packaging market.

IMPACT OF COVID-19 ON THE GLOBAL BIOPLASTIC PACKAGING MARKET

COVID-19 has massively impacted the global bio-plastic packaging market as the supply and production of the materials required to produce bio-plastic were completely shut down due to covid outbreak. Bio-plastic production requires a high cost, which became tough for many leading companies that were into delivering bio-plastic packaging solutions. Due to the pandemic, they had to shut down their companies, negatively impacting the growth of the global bio-plastic packaging market. Furthermore, the pandemic changed consumer behavior and increased consumption of single-use plastic packaged products as the need of the hour was to fulfill the basic necessity. Due to changes in this behavior, the utilization of single-use plastic increased, hampering the growth of the global bio-plastic packaging market.

KEY INSIGHTS

The report will cover the following key insights-

• Recent Advancements in Global Bioplastic Packaging Market


• Key Industry Trends


• Regulatory Landscape for the Global Bioplastic Packaging Industry


• Key Industry Developments (Mergers, Acquisitions, and Partnerships)


• Impact of COVID-19 on the Market

ANALYSIS BY MATERIAL

Based on the material, the market is segmented into BIO-PET, BIO-PE, BIO-PA, PLA, and others. BIO-PET material has the largest market share due to a rise in the demand for ready-to-eat meal containers, cups, and bottles in the food and beverage sector. At the same time, BIO-PE & BIO-PA are extensively used in packaging for automotive, milk packaging, and other consumer goods, which is also expected to augment the growth of the global bioplastic packaging market.

ANALYSIS BY PRODUCT

The market is segmented into bottles, pouches & sachets, trays, clamshells, films, cups, bags, and others. Bottles dominate the market because of the high rise in food & beverage consumption worldwide. Also, the demand is high because of the changing lifestyle and awareness of what people consume daily, pushing manufacturers to develop more sustainable packaging solutions. The need for bio-plastic packaging in the food & beverage industry is pushing the production of more sustainable bio-degradable packaging solutions in various forms like bottles.

ANALYSIS BY PACKAGING TYPE

The market is segmented into rigid plastic packaging and flexible packaging. The rigid plastic packaging segment is expected to dominate the market due to the demand for sustainable yet sturdy packaging solutions. The increase in demand for rigid packaging in the pharmaceutical and food & beverage industry is expected to provide growth in the global bio-plastic packaging market. In contrast, changing lifestyle has pushed the development of flexible packaging solutions for consumer goods, e-commerce, and the personal care & cosmetics industry.

ANALYSIS BY END-USE

The market is segmented by end users, such as food & beverages, consumer goods, pharmaceuticals, industrial goods, personal care & cosmetics, and others. Food  & beverages are the dominating end-use segment of the global bioplastic packaging market. The rise in demand & lifestyle of people worldwide towards ready-to-eat food as well as the quick serving restaurants is why the food & beverage sector contributes the maximum towards the growth of the global bio-plastic packaging market. The consumer goods & pharmaceutical industry is also moving towards more sustainable packaging options, making them switch to using bio-plastic for their product packaging, which is expected to drive the market's growth.

ANALYSIS BY REGION

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The region's market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Due to strict environmental legislation and rising consumer concern for the environment, the Europe region will likely experience significant growth in the bioplastic packaging market, followed by Asia-pacific having the most extensive production capabilities with a rise in demand for consumer goods, food & food beverage in countries like China, and India. North America is expected to grow steadily due to the high demand for lightweight packaging for its automotive and pharmaceutical packaging needs. The rest of the regions are also likely to move towards bio-plastic packaging and contribute to the growth of the bioplastic packaging industry worldwide.

KEY PLAYERS COVERED

• Tetra Laval International SA


• Mondi


• WestRock Company


• BASF SE


• Sonoco Products Company


• Smurfit Kappa


• Sealed Air


• Huhtamaki


• Gerresheimer AG


• BALL CORPORATION


• Ardagh Group S.A.


• Crown Holdings


• DS Smith


• International Paper


• Berry Global Inc.


• Reynolds


• Genpack LLC


• DuPont


• Uflex Ltd.


• Evergreen Packaging LLC


• Others

Bioplastic Packaging Market SEGMENTATION

KEY INDUSTRY DEVELOPMENTS. 

• August 2022: L.G. Chem partnered with U.S. based food processing organization to build two new manufacturing plants with Archer Daniels Midland Co (ADM). The production facility will produce bio-plastics suitable for the food & beverage industry.


• January 2022: Vikas Ecotech Limited announced its plans to invest in environment-friendly BioPlastic (PHA) technology and its advanced tie-up with Aurapha Pvt Ltd to produce biodegradable plastics.


• December 2021: Smurfit Kappa launched new range of bottle packaging solutions for the growing online beverage market. The content will likely be made from different sizes and shapes of recyclable raw materials.


• January 2020: Espoma Organic's mission to improve organic gardening partnered with global packaging company Amcor to innovate more sustainable packaging and launch a new bio-based polymer package. The polyethylene (P.E.) film contains 25 percent bio-based material derived from sugar cane.