Bioplastic Packaging Market: Snapshot
Bioplastics are primarily a biodegradable group of polymers
that can be manufactured from renewable sources. Conventional plastics are
increasingly becoming unpopular due to the fact that they can last for a very
long time, can be hazardous to current life and the ecosystem in general, and
rely heavily on the oil and gas industry for raw materials. Conventional
plastics are used in nearly all industries as material for casings,
electronics, packaging, and many other products. This high volume of products
made out of materials that will not be degraded for centuries is creating a
high level of concern, especially in developing economies, and emerging ones
are swiftly following suit.
Statistics show that plastics are currently the third most
commonly used byproducts from the oil and gas industry and the global
consumption rate of plastics has crossed 200 mn tons per year. Several
countries are banning the use of conventional plastic bags. Massive deposits of
plastics in the ocean are responsible for the large scale death of marine and
aerial species due to either ingestion or by getting stuck in them. Nations,
individuals, and private agencies are protesting very strongly against the
large scale use of plastics, while promoting the use of biodegradable plastics,
or bioplastics. Bioplastics can be manufactured from naturally occurring
polymer chains in agricultural waste, potatoes, corn starch, and cellulose.
These plastics are completely biodegradable, have a far shorter lifespan than
conventional plastics, and are already in large scale use in healthcare and
pharmaceuticals, packaging, textiles, and agriculture.
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Bioplastic
Packaging Market: Overview
Plastics have widespread applications across just about
every imaginable human endeavor, and the packaging industry is a prime example.
Plastics are among the most commonly used packaging materials today. Their high
durability, eponymous plasticity, poor thermal and electrical conductivity, and
impermeability to water have made the use of plastics essential in the
packaging industry.
Unfortunately, most plastics are manufactured from
petrochemicals and are thus synthetic and nonbiodegradable. This has caused one
of the most pressing environmental issues of today: Plastic waste. Plastic
doesn’t degenerate into the soil when discarded, and can cause soil pollution
as well as posing a major threat to the health of any animals that may happen
to consume it. Due to the close association of plastics with food packaging,
many animals are attracted to plastic waste due to the presence of leftover
food or a scent. Due to the insolubility of plastics in water, plastic waste
also poses a threat to marine life.
Bioplastics have been developed to eliminate the problems
caused by conventional plastics. Bioplastics are made from biodegradable
feedstock, which means they can degrade into the soil like any other organic
matter. The global market for bioplastic packaging has been driven by the
rising awareness among the global population about the adverse effects of
conventional plastics, which has led to both consumers and regulatory bodies
opt for bioplastics instead. Bio-PET and polylactic acid are the major types of
bioplastics used for packaging around the world.
Bioplastic Packaging Market: Drivers and Restraints
The major driver for the global bioplastic packaging market
is the rising support given by governments encouraging the incorporation of
bioplastics in place of conventional plastics. The net benefit to a country
adopting bioplastics on a mass scale is prevention of the ecological damage
that would have been caused by conventional plastics. Furthermore, this also
removes the need for further resources to fix the damage.
The growing awareness among the general population about the
ecological impact of their lifestyles is another key driver for the global
bioplastic packaging market. Bioplastic packaging can, in fact, be used as a
USP by packaging companies targeting environmentally conscious consumers.
On the other hand, even though bioplastics are
biodegradable, they can’t be degraded as easily as naturally occurring organic
matter. Since they have to replace plastics in their applications, they need to
possess similar qualities. This requires a particular molecular structure.
Unfortunately, since microbes can’t break down the similar structures in
conventional plastics, it is also not easy for them to break down these
structures in bioplastics.
The need to balance the physical properties of plastics and
the biodegradability of organic matter leads to high production costs, which
leads to premium prices. Technological innovations and government incentives
are likely to erase the price gap between conventional and bioplastics
eventually, but the global bioplastics packaging market faces an uphill battle
till then.
Key players in the global bioplastic packaging market are BASF
SE, Koninklijke DSM N.V., NatureWorks, LLC, Metabolix, Inc., and The Dow
Chemical Company.
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