TechNavio recognizes the following companies as the key players in the Global Bioplastic Packaging Market: BASF SE, Cereplast Inc., NatureWorks LLC, and Novamont S.p.A.
Commenting on the report, an analyst from TechNavio’s team said: “Bioplastic packaging is increasingly gaining importance in emerging regions such as the APAC region, with increasing demand for effective, advanced, and eco-friendly packaging. Markets in countries in the APAC region such as China and India are forecast to witness the fastest growth (a CAGR of approximately 7-8 percent) during the forecast period. The per capita consumption in these countries is also expected to increase. Some of the key drivers propelling the growth of the Bioplastic Packaging market in the emerging countries are the increase in manufacturing output for various consumer goods, the increasing demand for packaged food and beverages due to the increase in the population, and the increase in urbanization in these countries. Therefore, increasing demand from the emerging countries is another trend that is expected to have a positive impact on the Global Bioplastic Packaging market during the forecast period.”
According to the report, one of the major drivers in the market is the increased need for eco-friendly packaging. Bioplastics are primarily made from natural and renewable resources. They also help keep foods safe and fresh and ensure that the food does not get contaminated and the food quality does not degrade. The increased awareness of these benefits of bioplastic packaging among end-users is propelling the growth of the Global Bioplastic Packaging market.
Further, the report states that the major challenge faced by the vendors in the market is the premium pricing of bioplastic packaged products. The high pricing will lead to consumers shifting from bioplastic packaged products to conventional plastic packaged products.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/report/global-bioplastic-packaging-market-2014-…
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/healthcare-chemicals-food-retail
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TechNavio Announces the Publication of its Research Report -Global Bioplastic Packaging Market 2014-2018
