Bioplastics Packaging Market Will Reach Nearly US$28.50 bn In Revenues By 2020
Verfasser: yogesh on Wednesday, 5 December 2018A small number of companies operate in the global market for bioplastics packaging. Competition among them is intense. A noticeable trend in the market is the different strategies adopted by players, such as product innovation, in order to steal a march over their arch rivals.
Some of the big names operating in the global market for bioplastics packaging are The Dow Chemical Company (Dow), Metabolix, Inc., Novamont S.p.A, NatureWorks, LLC, Braskem S.A, Innovia Films, Ltd, BASF SE (Badische Anilin- und Soda-Fabrik), Arkema S.A., and Koninklijke DSM N.V.
A report by Persistence Market Research projects the global market for bioplastics packaging to pull in a revenue of US$28.50 bn by 2020. The market valued at US$4.34 bn in 2014, will attain the value by clocking a phenomenal CAGR of 36.8% from 2014 and 2020.
Products-wise, the key segments of the global market for bioplastics packaging are starch blends, bio-PET, PLA and PLA blends, and other biodegradables. Of them, the PLA and starch blend bioplastics are being infused with nanotechnology-based packaging that makes them environmentally safe and serves to bring about safety of the products as well.