Tech Innovation to Boost Growth in the Global Bioplastic Packaging Market Through 2024
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...