NEW YORK, “Biopolymer Packaging Market Report by Material and Geography – Forecast and Analysis 2022-2026” has been added to Technavio’s offering. The market is expected to witness substantial growth in APAC in the coming years owing to the thriving packaging industry and increasing agricultural activities in the region.
Technavio estimates the global biopolymer packaging market size to grow by USD 5.39 billion between 2021 and 2026, progressing at a CAGR of 11.45% during the forecast period.
Market Dynamics
The market is driven by the growing government regulations for bio-based packaging. Governments across the world are undertaking various initiatives to attain sustainability. This is compelling chemical manufacturers to use bio-based raw materials for producing alcohols, polymers, and other products. For instance, the European Directive 94/62/EC promotes the recycling and reusability of packaging materials. The EN 13432 standard promotes the recovery of packaging waste based on industrial composting. The presence of such regulations are discouraging the use of non-sustainable products, thereby creating a high demand for biopolymer packaging globally.
The increasing awareness for human wellbeing and eco-friendly products and the fluctuating crude oil prices will further drive the growth of the biopolymer packaging market. But the cost-effectiveness of conventional plastics over biopolymers might hamper the market growth.
Company Profiles
Some of the companies covered in this report are Alpagro Packaging NV, Amcor Plc, BASF SE, BIOGREEN PACKAGING Pvt. Ltd., Biome Bioplastics Ltd., COMPOSTPACK SAS, Earthpac Ltd., Eastman Chemical Co., Element Packaging Ltd., FKuR Kunststoff GmbH, Green Gate Bio Packaging, Minima Technology Co. Ltd., Mondi Group, Plastic Suppliers Inc., Plasto Manufacturing Co., Berlin Packaging UK Ltd, Tetra Laval International SA, Tipa Corp. Ltd., Treemera GmbH, and Northern Technologies International Corp.
Competitive Analysis
The competitive scenario provided in the biopolymer packaging market report analyzes, evaluates, and positions companies based on various performance indicators. Some of the factors considered for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, etc.
Market Segmentation by Material
By Material, the market is classified into biodegradable and non-biodegradable.The biodegradable segment holds the largest share of the market.The segment is driven by the increasing demand for biodegradable polymers such as PLA in packaging, textiles, hygiene, agriculture, and cutlery industries.The market growth in the biodegradable segment will be significant during the forecast period.
Market Segmentation by Geography
By Geography, the market is classified as APAC, North America, Europe, South America, and the Middle East and Africa.APAC will have the largest share of the market.The increasing number of e-commerce companies has been crucial in driving the growth of the biopolymer packaging market in APAC.Also, rapid urbanization and industrialization in developing countries such as China and India are driving the growth of the regional market.The market growth in APAC will be faster than the growth of the market in other regions.China, India, Japan, and South Korea are the key markets for biopolymer packaging in APAC.
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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