Bioplastics Packaging Market Size, Share, Analysis, Trends, Growth, 2032

Bioplastics Packaging Industry Prospective:

The global bioplastics packaging market size was evaluated at $12 billion in 2023 and is slated to hit $31 billion by the end of 2032 with a CAGR of nearly 17% between 2024 and 2032.

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Bioplastics Packaging Market: Overview

Bioplastics are a kind of recyclable plastics made from cellulose and plant starch. They have proved to be the best substitutes for conventional plastics manufactured from petroleum products. Furthermore, bioplastics help reduce landfill wastage, pollution, and climatic changes. There are various kinds of bioplastics, including compostable plastics, bio-based plastics, and biodegradable plastics.

Key Insights

• As per the analysis shared by our research analyst, the global bioplastics packaging market is projected to expand annually at the annual growth rate of around 17% over the forecast timespan (2024-2032)
• In terms of revenue, the global bioplastics packaging market size was evaluated at nearly $12 billion in 2023 and is expected to reach $31 billion by 2032.
• The global bioplastics packaging market is anticipated to grow rapidly over the forecast timespan owing to the massive demand for sustainable solutions along with product demand in the packaging of food & beverages.
• In terms of material, the biodegradable bioplastics segment is slated to register the highest CAGR over the forecast period.
• Based on type, the flexible packaging segment is predicted to record immense growth in the upcoming years.
• On the basis of application, the segment is likely to foster the global market size in the years to come.
• Region-wise, the Asia-Pacific bioplastics packaging industry is projected to register the fastest CAGR during the projected timespan.

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Bioplastics Packaging Market: Growth Factors

Huge penetration of bioplastics packaging in food & beverages sector to boost the global market upsurge

Massive demand for sustainable solutions, along with product demand in the packaging of food & beverages, are predicted to steer the growth of the global bioplastics packaging market. Flourishing of the e-commerce sector and technological innovations in materials, such as polylactic acid and polyhydroxyalkanoates, used in the manufacturing of bioplastics for improving the performance of the latter can prop up the expansion of the global market.

Apart from this, surging customer preference for organic products in the packaging of foods will steer the global market trends.

Furthermore, government support for the use of recyclable products will provide impetus to the expansion of the global market. Rapid growth of composite infrastructure and an increase in government efforts for minimizing landfills can multiply the expansion of the market globally.

Bioplastics Packaging Market: Restraints

Massive prices of product can hamper the global industry expansion over forecast timeline

Escalating costs of products, along with restrictions in economies of scale, are likely to degrade the expansion of the global bioplastics packaging industry. Moreover, lack of access to raw materials used for manufacturing bioplastics can prove to be detrimental in the growth path of the global industry.

Bioplastics Packaging Market: Opportunities

Surging popularity of environmentally friendly packaging can create new growth avenues for the global market

Humungous consumer demand for eco-friendly packaging material and a ban on the use of plastics have opened new growth dimensions for the global bioplastics packaging market. Furthermore, EPR legislation encourages firms to use eco-friendly products to reduce environmental pollution, and this, in turn, is likely to provide new landscapes of growth for the global market.

Bioplastics Packaging Market: Challenges

Contamination issues can challenge the growth of the industry globally over the coming years

Need for special production processes to manufacture bioplastics and the lack of strength & barrier features, as well as less thermal stability, can create hurdles in the growth of the global bioplastics packaging industry. Moreover, issues of recyclability and risks of contaminations can pose a huge threat to the global industry.  

Bioplastics Packaging Market: Segmentation

The global bioplastics packaging market is divided into material, type, application, and region.                                             

In terms of material, the bioplastics packaging market across the globe is segmented into biodegradable bioplastics and non-biodegradable bioplastics segments. Apparently, the biodegradable bioplastics segment, which amassed nearly over half of the global market revenue in 2023, is foreseen to record fastest CAGR in the coming seven years as a result of large-scale use of polylactic acid in bottles, food packaging, and cutlery.

Apart from this, a biodegradable feature of PLA along with its easy access will steer the business space.

Based on the type, the global bioplastics packaging industry is sectored into flexible packaging and rigid packaging segments.

Apparently, the flexible packaging segment, which accounted incredibly to the global industry earnings in 2023, is expected to register lucrative growth in the years ahead. This can be attributed to its beneficial features, such as versatility, cost-efficiency, lightweight, and end-user convenience.

On the basis of application, the bioplastics packaging market globally is bifurcated into food & beverages, pharmaceuticals, consumer goods, and personal care & cosmetics segments. In addition, the food & beverages segment, which contributed majorly towards the global market size in 2023, is anticipated to bolster the global market surge in the forecasting years.

Moreover, the segmental expansion in the next few years can be a result of a prominent increase in customer awareness about the benefits offered by bioplastic packaging. Need for extending the shelf life of the products and the demand for sustainable packaging will drive the segmental surge.

Bioplastics Packaging Market: Report Scope

Bioplastics Packaging Market: Regional Insights

Europe is likely to maintain leading status in the global market over the analysis timespan

Europe, which contributed about 47% of the global bioplastics packaging market earnings in 2023, is slated to mark a huge growth in the global market in the next few years. Apparently, the regional market exponentiation in the next couple of years can be ascribed to strict environmental legislation enforced by various governments in Europe.

Additionally, favorable policies and incentives offered by the government have encouraged the firms in the packaging business to use bioplastics as packaging material, thereby spurring the market growth in Europe.

Asia-Pacific bioplastics packaging industry is likely to record the fastest compound annual growth rate in the forecast timeline. The elevation of the industry in Asia-Pacific can be a result of swift economic development and an increase in the GDP of countries such as India and China.

Escalating demand for consumer goods in India and expanding the manufacturing base in the country will contribute sizably to the industry expansion in APAC. Few of the countries in Asia have completely banned the use of plastics, thereby further steering the industry growth in the region.

Key Developments

• In May 2022, CJ BIO, a key unit of South Korean firm CJ Cheiljedang, launched PHACT® Marine Biodegradable Polymers, a new product line of bioplastics, for preventing landfills pollution caused as a result of plastic wastes.

Bioplastics Packaging Market: Competitive Space

The global bioplastics packaging market profiles key players such as:

• Sealed Air Corporation
• Amcor plc
• Transcontinental Inc.
• Novamont S.p.A
• NatureWorks LLC
• Coveris
• Mondi plc
• Alpha Packaging
• Constantia Flexibles Group GmbH
• ALPLA.

The global bioplastics packaging market is segmented as follows:

By Material

• Biodegradable Bioplastics
• Non-Biodegradable Bioplastics

By Type

• Flexible Packaging
• Rigid Packaging

By Application

• Food & Beverages
• Pharmaceuticals
• Consumer Goods
• Personal Care & Cosmetics

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa