Global bioplastics market study released
With increased use of bioplastic packaging, particularly in short-life packaging, Ceresana has analysed the global market for packaging materials made from biopolymers. It is expected that revenue generated from this market will increase to about US$31.4bn by 2032.
Biopolymers are often associated with the hope of climate protection, non-toxic and environmentally friendly products. In the packaging market, polylactic acid (PLA), mostly derived from plant starch, makes up 28% of the market share and is the most important bioplastic. Packaging made from bio-based plastics that are not biodegradable, such as polyethylene and PET from sugarcane ethanol, sit in second place.
The Ceresana market report analyses the development of the use of bioplastics for packaging in various sales markets, with the largest being the food and beverage industry, which accounted for almost 61% of all packaging in 2022. Bioplastics are needed in this industry for bread bags, salad freshness films, dairy products, chilled and frozen foods, ready-made meals and convenience foods, spreads, sauces and condiments, bottles and other containers in the beverage segment. Asia currently accounts for around 38% of the total market for bioplastic packaging — closely followed by Europe.
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