Biodegradable Plastic Bags and Sacks Market Up To 2017 – 2022

Posted by Dinesh on March 24th, 2021

Global Biodegradable Plastic Bags & Sacks Market: Snapshot

The wide versatility of the use of plastics in bags and sacks and their inadequate disposal have added to the vastly rising pollution problem of traditional, petroleum-based plastics world over. Made from a variety of all-natural plant materials such as polylactic acids (PLAs), polyhydroxyalkanoates (PHAs), and corn, biodegradable bags and sacks also contain additives to facilitate degradation and hence pose lesser impact on the ecology in general and marine life in particular. These bags are being preferred over conventional plastic products, notably for the food packaging and fast-moving consumer goods. Furthermore, the use of biodegradable plastics is found to be promising in addressing the problem of plastics pollution in several developed and emerging countries, which is expected to catalyze the growth of the market. The substantial demand for ecofriendly and reusable plastic sacks and bags in the retail industry is a prominent factor bolstering the adoption of these bags. The declining price of key raw materials used in making biodegradable plastics in several countries is likely to bode well for the market.

The global biodegradable plastic bags and sacks market is estimated to clock a CAGR of 6.9% during 2017–2022. The market is anticipated to be worth US,470.5 Mn by 2017 end and is projected to reach US,052.2 Mn by the end of the assessment period.

Asia Pacific Market excluding Japan to Rise at Attractive Pace

The APEJ biodegradable plastic bags and sacks market is expected to reach valuation of US3.8 Mn by 2022 end, rising at a notable CAGR of 7.8% during the forecast period. The vastly rising demand for biodegradable plastic bags and sacks in this region is expected to mainly come from a burgeoning retail sector.

Substantial Benefits of Biodegradable Plastics made from PHAs to Contribute to their Dominant Demand

The various types of materials used in making biodegradable plastic bags and sacks are PLA, PHA, and starch blends. Of these, the PHA material segment dominates the market, holding a major share of 35.9% in 2017. The segment is projected to rise from a valuation of US5.5 Mn to reach US8.7 Mn by the end of 2022, representing a share of 36.1% of the market. The PHA segment is estimated to expand at a CAGR of 6.9% during 2017–2022. The annual growth of the segment is pegged at US.7 Mn over 2017–2022, representing an absolute growth greater than all other material segments. The dominant adoption of polyhydroxyalkanoates is attributed to their better degradability and the possibility of a wide variety of their applications in making biodegradable plastic bags and sacks. In addition, blending them with polymers has been proven to be cost-effective for manufacturers, which is likely to bolster their uptake.

Competitive Analysis

A number of emerging and established players are focused on launching high-performance products and resorting to mergers and acquisitions, in order to gain a better foothold in the global biodegradable plastic bags and sacks market. Prominent players operating in the market include Novolex, Shabra Group, Xtex Polythene Ltd., International Plastics Inc., Ampac Holdings LLC, Bulldog Bag Ltd., Abbey Polyethene, Sahachit Watana Plastic Industry Co.,Ltd., Sarah Bio Plast, Symphony Polymers Pvt Ltd., EXTRAPACK Ltd., Dagoplast AS, JUNER Plastic packaging Co., and Wells Plastics Ltd.

Biodegradable Plastic Bags and Snacks Market to Gain Traction with Increasing Demand for Eco-friendly Products

Biodegradable plastic is obtained from various parts of a plant such as corn, polylactic acids or PLAs, polyhydroxyalkanoates or PHAs, and others. This is further expected to aid in expansion of the global biodegradable plastic bags and snacks market in the years to come. The wide flexibility of the utilization of plastics in bags and sacks and their deficient removal have added to the limitlessly rising contamination issue of conventional, petrol based plastics world over.

Biodegradable bags and sacks additionally contain added substances to encourage corruption and henceforth present lesser effect on the biology all in all and marine life specifically. 

This is further expected to help this region continue generating notable revenues for the market in the years to come. On the other side, the market in Asia Pacific is likely to witness notable growth rates owing to the increasing demand for biodegradable plastic bags and sacks in the emerging as well as under-developed nations all around the region

Get More Press Release by TMR: https://www.prnewswire.co.uk/news-releases/rising-influence-of-automation-to-paint-strokes-of-growth-across-proximity-sensors-market-between-2019-and-2027-tmr-868639913.html