The report titled ‘Compostable Plastic Packaging Material Market: Global Industry Analysis 2013-2017 and Opportunity Assessment 2018-2028’ states that the global market for compostable plastic packaging material is expected to grow at a moderate CAGR of 5.1% during the forecast period of 2018-2028. The data in this report also shows that the market will possibly reach a value of over US$ 2,000 Mn by the end of 2028. Compostable plastics degrade rapidly, leaving no traces of the material, which are witnessing stellar demand in the market currently.
In a bid to build a strong business in an eco-friendly manner, companies are coming up with new offerings in the global market. There is a huge demand for environment-friendly products as the people are more inclined towards these products due to their growing awareness. Compostable plastic packaging is a major part of the current eco-friendly plastics market. The market comprises various materials like PBAT, PBS, PLA, and PHA, all of which are made up of components that are highly decomposable. Among these, PHA is expected to hold the strongest market growth, owing to its high barrier properties.
Food, beverage and pharmaceutical products prefer high barrier material for packaging to extend the shelf life of the products and maintain the quality of the product. According to the outcomes of the report on the global compostable plastic packaging materials market, PHA plastic type is expected to witness a stellar CAGR of 15.9% during the 10 year forecast period. A popular trend witnessed in the global compostable plastic packaging materials market is the rise in demand for garbage bags made of compostable plastic. Despite of relatively higher costs, compostable garbage bags are likely to grab a sizeable market in near future, in both developed as well as developing economies.
For More Detailed Insights on Compostable Plastic Packaging Market
Global Compostable Plastic Packaging Material Market: Competitive Scenario
The companies that are leading in global compostable plastic packaging materials market include S.K. Chemicals Co. Ltd., BASF S.E., Kaneka Corporation, Northern Technologies International Corp., Blonde Technology Co., Ltd., FKuR Kunststoff GmbH, NatureWorks LLC, Gio-Soltech, Ltd., Xinjiang Blueridge Tunhe Chemical Industry Co., Ltd, Biotec GmbH & Co. KG etc. These market leaders are looking for opportunities to expand their businesses and capitalize on products that are going to witness higher demands.
To know more about the market dynamics and key outcomes, reach out to the team of expert analysts at firstname.lastname@example.org
About Packaging division of FMI
The Packaging division at FMI provides an in-depth historical analysis and granular projections of the global packaging market. Ranging from packaging materials to designs & formats, FMI has an exhaustive market research database, serving clients with unique offerings and strategic recommendations. With a repository of 750+ reports, the team analyzed the packaging industry comprehensively in 70+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously track emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.