Progressive Markets has published a report, titled, Global Bioplastics Market - Opportunity Analysis and Industry Forecast, 2016 - 2025.
Report on"Bioplastics Marketexpected to grow at a CAGR of 19.2% up to 2025 Globally, analyze By Types (Biodegradable, Non-biodegradable), Application and Geography. Global Bioplastics Market is expected to register a CAGR of 19.2% during the forecast period 2017 - 2025.
The prime elements drive the increased adoption of bioplastics in rigid packaging applications include, the growing environmental awareness among the consumers and notable curiosity of packaging industries towards biodegradability. By 2020, the rigid plastic application is expected to report a share of more than 40% of the total bioplastics market revenue.
Research Factor Included in Bioplastics Industry
Bioplastic is a type of biodegradable plastics that are made from the biological substances such as sugarcane, corn, and cellulose. Widely available biological substances and environment compatible nature of bioplastics is expected to drive the growth of the market across geographies. Furthermore, increasing adoption in diverse end-user industries and favorable government policies for usage of environment friendly and products made from biodegradable substances are some of the main factors that will propel the growth of the market. However, high cost of production is likely to restrain the growth of the bioplastics market during the forecast period.
Bioplastics Market Growth in Region
In 2014, North America and Europe collectively contributed more than 65% of the total bioplastics market and is expected to retain their lead throughout the forecast period. Increasing government initiatives from the European government which supports the bioplastic manufacturers and high focus on health awareness among consumers are some of the prime factors influencing the growth of the market in Europe. Further, Asia Pacific is expected to be the fastest growing market owing to availability of large renewable biological materials along with increasing focus of the key players on investments in the region to capitalize the opportunities.
Key Manufacturer of Global Bioplastics Market
As a key developmental strategy, key market participants in the market are adopting collaborations, partnerships and expansions. The major players profiled in this report include, Novamont SPA, Braskem, Natureworks LLC, BASF SE, Cardia Bioplastics, Corbion Purac, Metabolix Inc.,Biome Technolgies Plc, Innovia Film and FKuR Kunststoff GmbH.