Global Bioplastics Packaging Market Size Likely to Grow at a CAGR of 12.5% By 2033

As per the current market research conducted by the CMI Team, the global Bioplastics Packaging Market size is expected to record a CAGR of 12.5% from 2024 to 2033. In 2024, the market size is projected to reach a valuation of USD 17,728.8 Million. By 2033, the valuation is anticipated to reach USD 51,357.1 Million.

Bioplastics Packaging Market: Growth Factors and Dynamics

• Increasing Environmental Concerns: Growing awareness about environmental issues, including plastic pollution and the need for sustainable packaging solutions, is a significant driver for the bioplastics packaging market. Consumers, businesses, and governments are increasingly favouring bioplastics over traditional plastics due to their biodegradability, composability, and reduced carbon footprint.

• Regulatory Support and Policies: Stringent regulations and policies aimed at reducing plastic waste and promoting sustainable packaging solutions are driving the adoption of bioplastics. Governments worldwide are implementing bans on single-use plastics and incentivizing the use of biodegradable and bio-based materials through regulations, taxation, and subsidies.

• Shift Towards Circular Economy: The transition towards a circular economy, where resources are used more efficiently and waste is minimized, is fueling the demand for bioplastic packaging. Bioplastics offer the potential for closed-loop systems, where products are designed to be recycled, composted, or biodegraded after use, thereby reducing reliance on finite fossil resources and mitigating environmental impacts.

• Technological Advancements: Ongoing research and development efforts in bioplastic materials and processing technologies are driving innovation in the bioplastic packaging market. Advancements in biopolymer formulations, processing techniques, and additive technologies are improving the performance, functionality, and cost-effectiveness of bioplastics, making them more competitive with conventional plastics.

• Growing Market Demand: Increasing consumer demand for eco-friendly products and sustainable packaging options is driving market growth for bioplastic packaging. Companies across various industries, including food and beverage, cosmetics, and consumer goods, are incorporating bioplastics into their packaging portfolios to meet consumer preferences for environmentally responsible products and differentiate their brands in the market.

• Expanding End-Use Applications: Bioplastics packaging is being utilized across a diverse range of end-use applications, including bottles, films, bags, trays, and containers. The versatility and compatibility of bioplastics with existing packaging processes and equipment enable their adoption across various industries and applications. Additionally, ongoing research and development are expanding the functional properties and application possibilities of bioplastics, further driving market growth.

Bioplastics Packaging Market: Partnership and Acquisitions

• In 2022, LG Chem Ltd., Korea’s largest chemical firm, has partnered with US-based Archer Daniels Midland Co. (ADM) to construct two manufacturing plants in Illinois, US. These facilities will produce biodegradable plastics for food packaging applications, reflecting a commitment to sustainable solutions.

• In 2022, Taghleef Industries partnered with the Emirates Environmental Group (EEG) to foster environmental protection and sustainable community development in the Middle East. EEG, comprising professionals, focuses on environmental education, action programs, and community engagement to safeguard the environment.

Report Scope

Bioplastics Packaging Market: COVID-19 Analysis

The COVID-19 pandemic has significantly impacted the Bioplastics Packaging Market, with the industry experiencing both positive and negative effects. Here are some of the key impacts:

• Supply Chain Disruptions: The COVID-19 pandemic led to disruptions in global supply chains, affecting the availability of raw materials and logistics for bioplastics production. Lockdowns, travel restrictions, and border closures hampered transportation and logistics operations, causing delays in the delivery of bioplastic products, and increasing production costs.

• Shift in Consumer Behavior: The pandemic has influenced consumer behavior, leading to changes in purchasing patterns and preferences. While there has been increased demand for packaged goods, particularly in the food and healthcare sectors, consumers have also become more conscious of hygiene and safety concerns, favoring packaging materials perceived as safer and more sustainable, such as bioplastics.

• Investment in R&D: Continued investment in research and development is essential for driving innovation in bioplastics technology, improving product performance, and expanding application possibilities. Developing bioplastics with enhanced properties such as barrier properties, mechanical strength, and heat resistance can help meet evolving market demands and compete effectively with traditional plastics.

• Diversification of Supply Chains: To mitigate the risks associated with supply chain disruptions, companies in the bioplastics packaging market can diversify their supplier base and establish strategic partnerships with multiple suppliers. Implementing robust supply chain management practices, including inventory optimization, demand forecasting, and contingency planning, can enhance resilience and ensure continuity of operations during crises.

• Adoption of Digitalization: Embracing digital technologies such as automation, data analytics, and digital supply chain platforms can improve operational efficiency, agility, and transparency in the bioplastics packaging industry. Digitalization facilitates remote collaboration, real-time monitoring of production processes, and optimization of resource utilization, enabling companies to adapt quickly to changing market conditions and customer requirements.

• Focus on Sustainability: Strengthening commitments to sustainability and circular economy principles can enhance the resilience and competitiveness of the bioplastics packaging market. Companies can optimize resource use, minimize waste generation, and promote the recycling and composting of bioplastic products to reduce environmental impacts and meet regulatory requirements.

In conclusion, the COVID-19 pandemic has had a mixed impact on the Bioplastics Packaging Market, with some challenges and opportunities arising from the pandemic.

List of the prominent players in the Bioplastics Packaging Market:

• NatureWorks LLC
• BASF SE
• Corbion NV
• Novamont S.p.A.
• Braskem S.A.
• Arkema S.A.
• Mitsubishi Chemical Corporation
• Biome Bioplastics Ltd.
• FKuR Kunststoff GmbH
• Danimer Scientific
• Cardia Bioplastics Limited
• Plantic Technologies Limited
• Total Corbion PLA
• Innovia Films Ltd.
• Toray Industries Inc.
• Others

The Bioplastics Packaging Market is segmented as follows:

By Material

• Polylactic Acid (PLA)
• Polyhydroxyalkanoates (PHA)
• Starch Blends
• Others

By Type

• Rigid Packaging
• Flexible Packaging

By Application

• Bottles
• Films & Sheets
• Bags & Pouches
• Trays & Containers
• Others

By End-User Industry

• Food & Beverage
• Pharmaceuticals
• Personal Care
• Consumer Goods
• Others

Regional Coverage:

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Russia
• Italy
• Spain
• Netherlands
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Taiwan
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America