Bioplastics Packaging Market will Exhibit a Steady 36.8% CAGR through 2020
Posted by Vikas Bahurupi on October 21st, 2018
Research Report Insights (RRI) has recently published, “Bioplastics Packaging Market by 2020.” According to report the global bioplastics packaging market for food and beverages was valued at US$ 3,191.3 Mn in 2013 and projected to grow at a CAGR of 36.8% through 2014 to 2020 to reach an estimated value of USD 28,503.6 Mn in 2020.
The plastic have been used as a packaging material since past few decades due to consumer demand and convenience. It also used as a packaging material for food and beverages subjecting direct contact with plastic polymers. When it comes to food and beverages packaging terms such as Green, Organic,Locally sourced and Ecofriendly have been drawing the attention of consumers in recent years. Due toEffect of global warming and the climatic change, health awareness and environmental issues are growing. The media and publications playing vital role in awareness of health cautious society about plastic effects over health and factors that guide them while taking decisions.
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However, Plastic made from organics cover an array of industries such as organic foods, fruits, vegetables, bread, beverages, and bakery products and catering witch needs disposables that are Cups, mugs, trays, plates and cutlery.
Marketers in this niche are more attracted in the packaging domain in recent years as it is sourced from renewable resources and carryrepercussions for sustained development. Heath organizations in the world have determined and published hazardous effects against plastic. On the other hand compost of non-bio degradable plastic is inappropriate for land filling. Government filing several laws and policies regarding proper disposal processes.
Bioplastics have many advantages over conventional plastic such as glossy and attractive appearance, antistatic behavior, printability, barrier effect, and enhanced shelf life of fresh products.Inertness when in contact with food and beverages. The ever growing merit list imparted increasing demand for bioplastics packaging for food and beverages.
Ongoing technology advancements aimed at improving physical and chemical propertiesof bioplastics is another major teamster of the bioplastics packaging market for food and beverages industry.
Introduction of nanotechnology proven increased bioplastics consistency and modification of physical as well as chemical properties that hastens its new application in food and beverages packaging over the years. Nano enabled plastic found to be increased preservative properties which in turn results incremental shelf life for food grade product.
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Being made from organic constituents, bioplastics has started framing as ecofriendly with improved elasticity performance, for moisture content food packaging preferredbarrier properties of PLA (Poly Lactic Acid) and Starch based bioplastics. However,such inventive properties make them suitable for various application.
Complex segregation method of bioplastics from dumping and disposal sites based on its characteristics such as used resin type makes the separation process of bioplastics tough. Which is one of the obstacle for this market, however the recent R&D suggests various methods. Some of the food and beverage has adopted bioplastics as a packaging material for their products.Some favorable legislative reforms and new product development holds large opportunities for the bioplastics packaging market.
