Bioplastics are an environmentally safe type of packaging for alcoholic beverages, personal care, homecare, and dairy products. Bioplastic packaging has been developed to reduce the environmental footprint of traditional plastics. The demand for plastics has been continuously reducing because they remain in the environment for a long time, harm the surrounding ecosystem and are heavily dependent on the oil & gas industry. Bioplastic is manufactured from biodegradable feedback that can soak into the soil like any other organic or biological material. The two main types of bioplastics in the bioplastic packaging market are polylactic acid and bio-PET.

Rigid bioplastics firmly hold onto pole position in bioplastic packaging market
In terms of application, the bioplastic packaging market can be broadly classified into flexible and rigid packaging, with the latter ahead in 2020. Rigid bioplastic is widely used in the cosmetics industry to package lipsticks, creams, compacts, along with beverage bottles. A fashion-conscious population ensures that cosmetics have global appeal. Bio-based PLA, PET, and PE is used in the industry. Several renowned brands utilize bio-based PET to manufacture beverage bottles of varying sizes comprising non-gaseous fluids or sparkling drinks, while others use bio-based PE solutions. The large percentage of bio-material in these plastics coupled with the ability to combine them with recyclables from conventional PET and PE has led to substantial scare resource optimization and decrease in CO2 emissions. As a relatively easy recyclable material, PLA is gaining ground in the worldwide rigid bioplastic packaging market. Rising demand should make recycling an economically feasible option, further augmenting the benefits of PLA in the bioplastic packaging market.

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Europe 2020 strategy compels bioplastic packaging companies to step up the innovation game
The European Union has been particularly helpful in the adoption of environmental initiatives within its borders by providing incentives to countries to do so. Europe is the largest regional contributor in the bioplastic packaging market because of rigorous mandates against the use of non-recyclable non-biodegradable plastic along with the encouragement of sustainable packaging in manufacturing. A policy that deserves mention is the Europe 2020 strategy that supports the bioeconomy and encourages public authorities by prioritizing and tracking down bio-based products, permitting EU states to reduce taxes on bioplastics. The EC previously presented a plan of action on the regional bioeconomy that discusses the consumption and manufacture of bioplastic packaging at a regional and national level. The plan intends to develop innovative processes and technologies to manufacture bioplastic packaging through public-private partnerships and the financings of pilot projects.

Abundant raw materials make Brazil bioplastic packaging market attractive
Along with Europe, companies in the bioplastic packaging market would be advised to carefully look at South America as it is on track to record the highest CAGR. This is due to widespread availability of oilseeds and sugarcane in Brazil. Thus, it isn’t surprising that many manufacturers are opening facilities in this emerging region. Within APAC, the countries to target are the giants China, India, and Indonesia as a changing lifestyle and rising affluence results in greater consumption of newer beverages with bioplastic packaging materials.
The bioplastic packaging market is extremely fragmented as the top ten players account for less than a third of market share. A few of the companies profiled for this report include Novamont, Futamura, NatureWorks, BASF, Jinhui Zhaolong, API, Taghleef Industries, BIOTEC, Zhejiang Hisun Biomaterials, Kaneka, Agrana Starke, Danimer Scientific, FKuR Kunststoff, BIO-FED, Biome Bioplastics, GRABIO, Xinjiang Blue Ridge Tunhe Polyester, Mitsubishi Chemical, CARBIOLICE, and United Biopolymers.

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Are advantages of bioplastic packaging plastics being overlooked entirely in a COVID-19 era?
In 2019, there was a robust pushback against plastics from several civil society organizations along with prominent media companies, forcing attention on this critical topic. Long before the term COVID-19 became all-pervasive, there were reservations in the industry whether restrictions in the Single-Use Plastics Directive (SUPD) would have no negative impact on consumer safety and hygiene. That said, it is highly unlikely that it will be business as usual in the bioplastic packaging market in the long run. While the bioplastic industry supports the EU in its drive to reduce packaging waste and overpackaging, they believe that excessive and undifferentiated steps taken will not solve the scourge of plastic pollutants. Besides bio-packaging, the bioplastic industry plays a key role in other industries to tackle COVID-19 such as 3D printing of medical devices for example. In the EC’s lookout for ‘sustainable alternatives’, these benefits are largely overlooked and must be taken into consideration for the bioplastic packaging market to thrive in the future.

KEY QUESTIONS ANSWERED IN THE REPORT
● What is the market size and growth rate of the global and regional markets by various segments?
● What is the market size and growth rate of the market for selective countries?
● Which region or sub-segment is expected to drive the market during the forecast period?
● What factors are anticipated to impact demand and supply trends in the market during the forecast period?
● What factors are likely to drive market revenue growth during the forecast period?
● What are the key technology and other trends shaping the market?
● What are the key opportunities in the market?
● What are some of the strategies implemented by key companies operating in the market?
● What is the COVID-19 impact on the market?

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