Selbyville, Delaware , Jan. 20, 2025 (GLOBE NEWSWIRE) -- Bioplastic Packaging Market was valued at USD 17.6 billion in 2024 and is projected to be worth USD 73.6 billion by the end of 2034, as per a recent study by Global Market Insights Inc.
This market is advancing quickly, driven by rising consumer awareness and demand for sustainable packaging solutions, particularly in the food & beverage, personal care, and pharmaceutical sectors. With ongoing improvements in recycling and composting infrastructure, bioplastic packaging is expected to help in supporting the shift toward a circular economy, aligning with increased sustainability standards.
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However, challenges persist, including high production costs, limited recycling infrastructure, and competition with traditional plastics. Bioplastics often require specialized technologies and advanced manufacturing processes, which currently remain less developed and more costly compared to conventional plastics. Investments in new equipment, research, and development are essential to bridge this gap but contribute to the overall expense of bioplastic production.
The bioplastic packaging market is segmented by material into biodegradable and non-biodegradable categories. The biodegradable segment is anticipated to grow significantly, at a CAGR of 18.5% during the forecast period, as environmental concerns and regulatory pressures encourage alternatives to conventional plastics. Biodegradable materials derived from sources like corn starch and sugarcane cater to the growing demand for eco-friendly packaging in the food, beverage, and personal care industries. Innovations in bioplastics have enhanced the quality, durability, and shelf-life of these materials, making them increasingly competitive with traditional plastics and suitable for broader applications.
The bioplastic packaging market is also segmented by packaging type, with flexible packaging taking the lead, holding 55% of the market share in 2023. Flexible packaging offers a lightweight and adaptable option widely used across the food, beverage, pharmaceutical, and consumer goods industries. Its efficient material usage and cost-effective transport appeal align well with sustainability goals. Recent advancements in materials like PLA, PHA, and starch blends have improved flexible packaging’s durability and barrier properties, enhancing product preservation and shelf-life.
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North America accounted for a notable market share of 25% in 2023. Growth in the U.S. bioplastic packaging market is driven by consumer demand for sustainable alternatives and corporate commitments to reduce plastic waste. Federal and state-level regulations, including restrictions on single-use plastics, further boost bioplastic adoption. Key sectors, particularly food and beverage and healthcare, are increasingly integrating bioplastic packaging as advancements in production technology lower costs, making it accessible across a wider range of applications.
Bioplastic Packaging Market Players
Companies including Amcor, Bio Futura, Biome Bioplastics, Corbion, FKuR, Futamura Group, Genpak, IIC, ITC Packaging, J. Landworth Company, NatureWorks, Novamont, Sealed Air, Stora Enso, Tetra Pak, TIPA, Walki Group, Xiamen Changsu Industrial are some firms working in bioplastic packaging industry.
This bioplastic packaging market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Billion) & volume (Kilo Tons) from 2021 to 2032, for the following segments:
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Market, By Material
- Biodegradable
- Starch blends
- Polylactic acid
- Polybutylene Succinate (PBS)
- Polybutylene Adipate Terephthalate (PBAT)
- Others
- Non-biodegradable
- Bio polyethylene terephthalate
- Bio polyethylene
- Bio polyamide
- Others
Market, By Packaging Type
- Flexible packaging
- Rigid packaging
Market, By End Use Industry
- Food and beverage
- Consumer goods
- Pharmaceuticals
- Building and construction
- Others
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
