Bioplastic Packaging Bag Market to Exceed US$ 49 billion Valuation by 2033 Owing to its Rising Usage in Hospitals, Hotels, Markets Homes Among Others | Future Market Insights, Inc.

NEWARK, Del: The global bioplastic packaging bag market is anticipated to create opulent growth opportunities over the forecast period by exhibiting a CAGR of around 14.6% from 2023 to 2033. The global market is likely to generate a valuation of around US$ 12.5 billion in 2023 and surpass an estimation of US$ 49 billion by the end of 2033. According to Future Market Insights' historical analysis, the global bioplastic packaging bag market registered a CAGR of 8.1% from 2018 to 2022.   

The growth of the market is attributed to its minimal environmental impact, increasing attention on sustainability and recycling, rising government emphasis on effective packaging management, augmenting consumer awareness, and growing single-use plastic prohibitions, bioplastic packaging solutions are increasingly being used in packaging.

Furthermore, rigid bioplastics packaging materials are used for the packaging of creams, compact powders, lipsticks, and beverage bottles. A broad range of applications bolsters the potential for demand. Materials like bio-based PET, PLA, or PE are utilized in this section.

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Backed by characteristics and advantages like less environmental impact and renewability, biodegradable kind, bioplastic packaging solutions are getting increasingly popular. This is a key driver that is expected to propel the market's growth throughout the forecast period.

Moreover, attributed to bioplastic's biodegradable nature, the packaging market for this material is anticipated to grow. Depending on the need, several thermoplastic packaging alternatives are available for use in the food and beverage business.  

Compelling Market Trends

Eco-friendly plastics are most commonly utilized in the formation of nature-friendly plastic containers and in organic waste collection bioplastic packaging bags. These bags are predominantly utilized in hospitals, hotels, restaurants, stores and markets, and homes. Local governments in different countries have also started to use bioplastic packaging bags.

Bioplastic packaging bags are most commonly utilized in the field of the packaging industry, which is on a significant rise because of increasing environmental issues around the world. Asia-Pacific with nearly 45% of the global production capacity has the highest production volume of bioplastics.

A major issue of non-biodegradable waste is primarily caused by the disposal of traditional plastics all over the world, which has been impacted by harmful effects on the atmosphere. This has significantly helped fuel the demand for and expansion of the global bioplastic packaging bags market. 

Growth Drivers

The breakdown of bioplastic packaging bags is feasible with natural methods including numerous microorganisms and composting. This is likely to be one of the most substantial factors in biodegradable packaging and is therefore an important factor in boosting the market growth of bioplastic packaging bags.

The second-largest end-user of the bioplastic packaging bag sector is a consumer product. Home appliances, mobile devices, and others are the key consumer products included in this category. For key manufacturers, consumer products comprising computer casements, loudspeakers, mobile casing and vacuum cleaners, and bioplastic packaging bags are used.

To cater to the needs of specific preservation, bioplastic packaging is a sophisticated and convenient flexible solution. Products' shelf lives are increased with the use of bioplastics. Moreover, backed by its impeccable features like antibacterial covering, numerous bioplastics are expected to replace traditional plastic packaging in various industries.

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Competitive Landscape

Key players operating in the global bioplastic packaging bag market comprise Xtex Polythene Ltd., Wells Plastics Ltd., Shabra Group, Ampac Holdings LLC, International Plastics Inc., Abbey Polyethene, Bulldog Bag Ltd., Sarah Bio Plast, Sahachit Watana Plastic Industry Co., Ltd., EXTRAPACK Ltd., Symphony Polymers Pvt. Ltd., JUNER Plastic Packaging Co., Dagoplast AS among others.

Stringent regulations by several governments and federal agencies with an agenda to reduce plastic waste and encourage biodegradable plastics usage in packaging are boosting the product demand.  

The surging regulations concerning green packaging are witnessing a significant rise. As a result, several FMCG companies are required to adopt biodegradable packaging to fall in with the standards, which in turn, is driving the growth of this market.

Bioplastic Packaging Bag Market Segmentation

Globally, the Bioplastic Packaging Bag Market is divided on the basis of Material, Types, & Application Industry

Material:

• Polyhydroxyalkanoates (PHAs)
• Polylactic Acids (PLAs)
• Starch Blends
• Others

Type:

• Flat bags,
• Rubble sacks
• Gusseted Bags
• Woven Sacks
• Trash bags
• T-shirt bags
• Others

Application:

• Industrial
• Institutional
• Retail Sector
• Consumer users.

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Valuable Insights into the Bioplastic Packaging Bag Market

European Union is anticipated to have a significant contribution to the global bioplastic packaging bag market. The region is expected to acquire its position in the future as well. The importance of this geographic market is attributed to the demand for biodegradable and eco-friendly bioplastic packaging bags for a number of industrial applications.

The increasing knowledge of the contamination process at the institute level and facts related to the use of bioplastic packaging bags made from conventional plastics is likely to be a striking aspect that is driving the development of the regional market.

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Flexible Packaging Paper Market Value: The flexible packaging paper market is on track to grow at an estimated CAGR of 4% during 2022-2032. Flexible packaging paper is mainly used for packaging several food items such as confectioneries, snacks, coffee, sugar, etc. 

Liquid Packaging Bag Market Trends: The global liquid packaging bag market is expected to surge from US$ 1,054.4 Million in 2022 to US$ 1,733.9 Million by 2032. During the forecast period, the market is expected to display a CAGR of 5.1%, which was valued at 4.3% from 2016-21.

Biodegradable Packaging Market Growth: According to Future Market Insights research, during the projected period, the global biodegradable packaging market is set to enjoy a valuation of US$ 448.2 Bn in 2022, and further expand at a CAGR of 6.1% during 2022-2032. 

About Future Market Insights, Inc.

Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce, headquartered in Delaware, USA. As a recipient of the Clutch Leaders Award 2022 for a high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

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