The global bioplastics packaging market size was valued at USD 5.80 billion in 2023. The market is projected to grow from USD 6.33 billion in 2024 to USD 14.07 billion by 2032, exhibiting a CAGR of 10.50% during the forecast period.
Bioplastic packaging, made from bio-based and biodegradable materials, serves various sectors such as food & beverage and personal care. Unlike traditional petroleum-based plastics, bioplastics decompose faster and emit fewer greenhouse gases. The rising demand for sustainable packaging has fuelled the growth of the market.
The COVID-19 pandemic drove a surge in demand for corrugated boxes by altering consumer behaviour. The outbreak also exacerbated plastic pollution with increased use of single-use plastics such mask and gloves. Temporary pauses on plastic bags and a shift to online food deliveries and disposable containers further contributed to this trend.
Fortune Business Insights™ provides this information in its research report, titled “Bioplastics Packaging Market, 2024-2032”.
Top Companies covered in the Bioplastics Packaging Market
Browse Detail Summary for the Bioplastics Packaging Market: https://www.fortunebusinessinsights.com/bioplastic-packaging-market-108066
Segmentation:
Biodegradable Segment Leads owing to Manufacturer Sustainability Goals
On the basis of material, the market is divided into polybutylene succinate (PBS), biodegradable (starch blends, polylactic acid (PLA), polybutylene adipate terephthalate (PBAT), polyhydroxyalkanoates (PHA), and others), bio-based/non-biodegradable (bio polyethylene terephthalate (PET), bio polyethylene (PE), bio polyamide (PA), bio poly trimethylene terephthalate (PTT), and others). The biodegradable material segment secures the largest bioplastics packaging market share. Increasing prioritization of sustainability by manufacturers is leading to the integration of biodegradable materials, boosting the growth of the segment.
Rigid Packaging Segment Dominates Owing to Advancements in Material and Sustainability