Biopolymers Packaging Market Size & Share, by Material Type (Polylactides (PLA), Bio-Polyethylene (PE), Bio-Polyethylene Terephthalate(PET), Starch, Cellulose, PBAT, Polyhydroxyalkanoates (PHA), Polybutylene succinate (PBS)) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

Market Drivers and Challenges

Growth Indicators

• Increasing Consumption of Reusable and Recyclable Plastics for Packaging
  The largest end-user for the plastics industry is the packaging sector. In Europe alone, 40% of the plastics consumed by packaging material manufacturers. However, this significant consumption of conventional plastics packaging showcases a significant impact on the global environmental condition with lot of plastic waste. In order to overcome this environmental disadvantage of conventional plastics, several governments coupled with the research and development (R&D) organizations produced biopolymers packaging, which can be bio-degradable or reusable or recyclable. Biopolymers use resources as efficiently as current conventional polymers, and have advantages including recyclable, reusable, bio-degradable, and releases less greenhouse gas emissions at the time of processing. According to European Bioplastics fact sheet 2019, global biopolymers packaging accounted for the 53% volume consumption in the total production of biopolymers. The major demand for this packaging comes from organic food wrapping and packaging of premium and branded products. Governments are anticipated to further contribute growing demand by promoting biopolymers packaging in the context of their policies for innovation, resource-efficiency, and climate change. The transition from a fossil-based economy to a bio-based economy is a major factor for the current and prospective future growth of the global market.

Challenges

• High Cost of Biopolymers Over Conventional Packaging Raw Materials
  Biopolymers are the major raw materials to produce biopolymers packaging pouches, containers, films, and many other. These biopolymers have a huge pricing limitation over conventional fossil based raw materials including oil, natural gas, and coal, which in turn decreases the profitability of manufacturers. Such a factor is anticipated to hinder the growth of the global biopolymers packaging market during the forecast period.