Research and Markets has announced the addition of the "Global Bioplastic Packaging Market 2014-2018" report to their offering.
The analysts forecast the Global Bioplastic Packaging market to grow at a CAGR of 19.85 percent over the period 2013-2018. One of the key factors contributing to this market growth is the growing concern for environmentally-friendly packaging. The Global Bioplastic Packaging market has also been witnessing the increasing demand from emerging countries.
The key vendors dominating this market space are BASF SE, Cereplast Inc., NatureWorks LLC, and Novamont S.p.A.
Other vendors mentioned in the report are Arkema Group, ECM BioFilms Inc., E. I. du Pont de Nemours and Co., Innovia Films Ltd., Mitsubishi Plastics Inc., Plantic Technologies Ltd., and Purac Biochem BV.
Commenting on the report, an analyst from the team said: Bioplastic packaging is increasingly gaining importance in emerging regions such as the APAC region, with increasing demand for effective, advanced, and eco-friendly packaging. Markets in countries in the APAC region such as China and India are forecast to witness the fastest growth (a CAGR of approximately 7-8 percent) during the forecast period. The per capita consumption in these countries is also expected to increase. Some of the key drivers propelling the growth of the Bioplastic Packaging market in the emerging countries are the increase in manufacturing output for various consumer goods, the increasing demand for packaged food and beverages due to the increase in the population, and the increase in urbanization in these countries. Therefore, increasing demand from the emerging countries is another trend that is expected to have a positive impact on the Global Bioplastic Packaging market during the forecast period.
According to the report, one of the major drivers in the market is the increased need for eco-friendly packaging. Bioplastics are primarily made from natural and renewable resources. They also help keep foods safe and fresh and ensure that the food does not get contaminated and the food quality does not degrade. The increased awareness of these benefits of bioplastic packaging among end-users is propelling the growth of the Global Bioplastic Packaging market.
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