The global bioplastic packaging bag market is anticipated to accumulate a market value of US$ 12.5 billion in 2023 and is expected to garner a valuation of US$ 49 billion by exhibiting a CAGR of 14.6 % in the forecast period 2023 to 2033. The market for Bioplastic Packaging Bag market reflected growth with 8.1 % CAGR in the historical period 2018 to 2022.
Due to their minimum environmental impact, increasing attention on sustainability and recycling, government emphasis on effective packaging management, rising consumer awareness, and growing single-use plastic prohibitions, bioplastic packaging solutions are increasingly being used in packaging.
Because of their characteristics and advantages, like less environmental impact and renewability, biodegradable kind, bioplastic packaging solutions are getting increasingly popular. This is a key driver that is expected to propel the market's growth throughout the forecast period.
Another aspect expected to contribute to the market's continued expansion is the rising consumer preference toward eco-friendly goods over synthetic versions of chemicals.
This is because of its features like antibacterial covering. Due to their distinct features, bioplastics are expected to replace traditional plastic packaging in various industries.
Apart from this, strict regulations by various governments and federal agencies with an agenda to reduce plastic waste and encourage biodegradable plastics usage in packaging are boosting the product demand.
Also, the regulations related to green packaging is rising up. As a result, several FMCG companies are required to adopt biodegradable packaging to fall in with the standards, which in turn, is driving the growth of this market.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value in 2023 | US$ 12.5 billion |
| Projected Market Value in 2033 | US$ 49 billion |
| Growth Rate (2023 to 2033) | 14.6 % CAGR |
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Latest developments and breakthroughs in technology, mergers, acquisitions, tie-ups, and partnerships within the companies involved in manufacturing bioplastic packaging bag solutions are anticipated to create lucrative opportunities for market growth during the forecast period.
The extensive adaptability for the use of plastics in satchels and bags and their inadequate disposal is likely to add to the enormously increasing pollution loss of conventional, petroleum-based plastics.
Manufactured from a range of all-natural plant products, such as (PHAs), (PLAs) and corn. Bioplastic packaging bags also contain degradation additives and therefore have a lower impact on the ecosystem in general as well as on aquatic life in particular.
These bioplastic packaging bags are popular with traditional plastic products, especially fast-moving consumer goods and food packaging. Bioplastics are not harmful to nature and some are quickly damaged in versatile containers.
Bioplastic Packaging bags can be used for foodstuffs, medications, drinking bottles, packing films and packaging of non-food items, such as candy and tissues, toilet paper, cloths, towels for the body, cardboard, coat paper for cup and dishes, etc. Flexible and loose fill packaging is also included.
Principal Consultant
Sustainable Packaging to accelerate the market growth for Bioplastic Packaging bags
Eco plastics are used in predominantly natural-friendly plastic containers and in organic waste collection bioplastic packaging bags, primarily used in hospitals, hotels and restaurants, stores and markets and homes. Local governments in different countries have also started to use bioplastic packaging bags.
Bioplastics Packaging Bags are the most widely used in the field of the packaging industry, which is growing because of increasing environmental issues around the world. Asia-Pacific with nearly 45% of the global production capacity has the highest production volume of bioplastics.
A major issue of nonbiodegradable waste caused mainly by the disposal of traditional plastics around the globe has impacted by harmful effects in the atmosphere. This has significantly helped fuel the demand for and expansion of the global bioplastic packaging bags market.
The breakdown of bioplastics packaging bag is feasible with natural methods, such as microorganisms and composting. This is likely to be one of the most substantial factors in biodegradable packaging and is therefore a important factor in boosting market growth of bioplastic packaging bags.
Consumer Product Industry to gain traction for Bioplastic Packaging Bags
The second-largest end-user of bioplastic packaging bag sector is consumer products. Home appliances, mobile devices and others are the key consumer products included in this category.
Electronic devices consist of parts made from standard plastics, such as tubes, circuit boards and data storage, as the plastics provide longevity, lightness and versatility. The key manufacturers of consumer products concentrate on the environment from the conventional plastics to the bioplastic packaging bag.
For the manufacture of consumer products including computer casements, loudspeakers, mobile casing and vacuum cleaners, bioplastic packaging bag are used.
European Union is likely to contribute and lead the global market for bioplastic packaging bags and is expected to acquire its position in the future as well. The importance of this geographic market is attributed to the demand for biodegradable and eco-friendly bioplastic packaging bag for a number of industrial applications.
In addition, increasing knowledge of the contamination process at institute level and facts related to the use of bioplastic packaging bags made from conventional plastics is likely to be a striking aspect that is driving the development of the regional market.
The global market in Europe is also projected to grow at a significant rate of growth in the future. Demand and popularity for oxy-degradable and photodegradable plastics in a number of developed regions is also likely to boost the market for bioplastic packaging bags.
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Globally, the Bioplastic Packaging Bag Market is divided on the basis of Material, Types, & Application industry
1. Executive Summary 2. Industry Introduction, including Taxonomy and Market Definition 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments 4. Global Market Demand Analysis and Forecast, including Historical Analysis and Future Projections 5. Pricing Analysis 6. Global Market Analysis and Forecast 6.1. By Material 6.2. By Type 6.3. By Application 7. Global Market Analysis and Forecast, By Material 7.1. Polyhydroxyalkanoates (PHAs) 7.2. Polylactic Acids (PLAs) 7.3. Starch Blends 7.4. Others 8. Global Market Analysis and Forecast, By Type 8.1. Flat bags 8.2. Rubble sacks 8.3. Gusseted Bags 8.4. Woven Sacks 8.5. Trash bags 8.6. T-shirt bags 8.7. Others 9. Global Market Analysis and Forecast, By Application 9.1. Industrial 9.2. Institutional 9.3. Retail Sector 9.4. Consumer users 10. Global Market Analysis and Forecast, By Region 10.1. North America 10.2. Latin America 10.3. Europe 10.4. South Asia 10.5. East Asia 10.6. Oceania 10.7. Middle East & Africa (MEA) 11. North America Sales Analysis and Forecast, by Key Segments and Countries 12. Latin America Sales Analysis and Forecast, by Key Segments and Countries 13. Europe Sales Analysis and Forecast, by Key Segments and Countries 14. South Asia Sales Analysis and Forecast, by Key Segments and Countries 15. East Asia Sales Analysis and Forecast, by Key Segments and Countries 16. Oceania Sales Analysis and Forecast, by Key Segments and Countries 17. Middle East & Africa (MEA) Sales Analysis and Forecast, by Key Segments and Countries 18. Sales Forecast by Material, By Type, and By Application for 30 Countries 19. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard 20. Company Profile 20.1. Xtex Polythene Ltd. 20.2. Wells Plastics Ltd. 20.3. Shabra Group 20.4. Ampac Holdings LLC 20.5. International Plastics Inc. 20.6. Abbey Polyethene 20.7. Bulldog Bag Ltd. 20.8. Sarah Bio Plast 20.9. Sahachit Watana Plastic Industry Co., Ltd. 20.10. EXTRAPACK Ltd. 20.11. Symphony Polymers Pvt. Ltd. 20.12. JUNER Plastic Packaging Co. 20.13. Dagoplast AS
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Bioplastic Packaging Bag Market
