Biopolymer Packaging Market Size

Biopolymer Packaging Market Analysis

The biopolymer packaging market is expected to grow at a CAGR of 12.6% over the forecast period (2021 - 2026). Biopolymers refer to naturally occurring polymers, primarily from renewable sources, such as plants and animals, which help manufacture plastics. Furthermore, the companies in the market studied are focusing on increasing the production capabilities of biopolymers.

• Multiple factors such as the volatility of oil prices, the globally increasing interest in renewable resources, the growing concerns regarding the greenhouse gas emissions, and the current emphasis on waste management have created an increasing interest in biopolymers and bioplastics.
• With the improved biopolymer processing technologies, vendors in the market have been enabled with better control of macromolecular structures that have allowed new generations of commodity polymers that challenge the expensive specialty polymers.
• The development of newer materials, particularly the innovative biopolymer formulations, is helping in addressing various requirements with other packaging functions such as food preservation and protection towards consumers. The use of biocomposites for active food packaging is one of the most-studied approaches in the past few years for materials in contact with food. Applications of these innovative biocomposites are helping to provide new food packaging materials that have improved mechanical, barrier, antioxidant, and antimicrobial properties
• Further, the increasing concerns on food wastage are preventing the complete replacement of plastics as they remain the best solution to increase the shelf life of products. According to the Food & Agriculture Organization, 1.3 billion tons of food worldwide is wasted annually. This has led to several innovations where biopolymer plastics are being developed to increase shelf life without compromising on sustainability concerns.
• To truly capture the potential for biodegradable plastic packaging, multiple cities across the globe need to have an adequate composting and collection infrastructure to support their usage. Currently, very few municipalities across the globe have such infrastructure. However, with the increasing awareness, investment, and ban on single-use plastic, this is likely to ascend, creating an ample amount of opportunities for the existing and new market players.
• Also, the immediate impact on the consumer's concerns about the viral exposure of the Corona Virus and the questions around the virus' ability to survive on surfaces are expected to fuel a much longer-lasting demand for new packaging and materials that exhibit antiviral and antibacterial properties.
• Moreover, researches are being done in antibacterial and antiviral polymers and biopolymers for packaging. Enhanced active drug materials that are efficient and exhibit low toxicity are being studied. The demand for such materials in the day-to-day consumer products is expected to rise significantly post-COVID-19 era, as consumers are likely to maintain concerns and habits learned during this challenging period.