Bioplastic Market basically refers to a type of compostable plastic derived from renewable biomass source, such as potato-starch vegetable oil, corn-starch, microbial, and pea starch, instead of fossil-fuel based plastics that are made from petroleum products.
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Ongoing development in cellulose conversion technology, which is used for the extraction of cellulose from non-food crops such as husks, corn, wood and grass, is expected to improve yield quality and quantity of the bioplastic in coming years.
Additionally, consumer concern over environmental changes and greenhouse effect coupled with considerable media reporting has made consumers alert and aware about the advantages of bioplastic packaging.
The use of excessive fossil fuel based plastic has led to increase in toxic landfills, polluted water and carbon dioxide emission, which is further affecting soil fertility and public health around the world.
Based on packaging type, global bioplastic packaging market can be categorized as rigid plastic packaging and flexible packaging. On the basis of the end user of the bioplastic, the global bioplastic packaging market can be divided as catering and foodservice packaging, beverage packaging, nonfood packaging and others.
Among regions, Europe dominated the global bioplastic packaging market in 2014. It is then followed by North America and Asia-Pacific. The growing demand for eco friendly, advanced and effective packaging in Asia-Pacific countries such as China and India.
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Some of the major competitors in global bioplastic packaging market include The Dow Chemical Company, BASF SE (Badische Anilin- und Soda-Fabrik), Mitsubishi Plastics, Inc., Novamont S.p.A., Braskem S.A., NatureWorks, LLC, Koninklijke DSM N.V., Innovia Films, Ltd., and ECM BioFilms, Inc.
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