Starch-Based Bioplastics Packaging Market

Market Overview

Starch-Based Bioplastics Packaging Market: An Overview

Growing awareness for the environment has led to the demand for starch-based bioplastics packaging. Shifting preference from petrochemical products to eco-friendly substitutes is expected to have a significant impact on the starch-based bioplastics packaging. Bioplastic is derived from renewable resources such as agro/food sources. To enhance the mechanical properties and water barrier properties, it can be blended easily with other polymer and nanofillers. Starch-based bioplastics are suitable for manufacturing of compostable packaging products. OEMs have increased their expenditure for the development of bio-based materials to reduce reliability on petrochemicals which is expected to increase the availability for starch-based bioplastics.

Plastics are heavily used in many end-use industries which had led to the filling of landfill wastes through the years. To curb the problems associated with materials which cannot be degraded for centuries is of high concern for various governments. This is expected to increase the market demand for starch-based bioplastics packaging.

Starch-Based Bioplastics Packaging Market: Dynamics

The production of starch-based bioplastics is simple and they are widely used for packaging applications. The tensile strength of starch-based bioplastics is suitable for various packaging applications. The availability of raw materials such as cassava, potatoes, maize, rice and wheat in abundance and this is likely to boost the market demand for starch-based bioplastics packaging. Furthermore, the significant use of starch-based films in the packaging sector for food packaging, cosmetics packaging, pharmaceuticals packaging, and goods packaging favours market growth. Bio-based material used in combination with suitable recyclable PE and PET have resulted in a decisive growth for the starch-based bioplastics packaging and has resulted in the decrease of carbon-dioxide releases. In addition, brand owners are choosing sustainable packaging to promote their brand as an eco-friendly brand. This is likely to enhance the brand loyalty and reputation of the brand in the market. Research & development and government subsidies on the use of starch-based bioplastics to reduce the disposal issues of conventional plastics which increases the landfills and sea are likely to increase the market demand for starch-based bioplastics packaging.

However, the starch-based bioplastics are higher in cost compared to conventional plastics due to raw material availability and R & D cost. This might hinder the growth of the market in the short run. The growing environmental concerns are likely to generate hiked market demand for starch-based bioplastics packaging in the years to come.

Starch-Based Bioplastics Packaging Market: Regional Outlook

Europe is likely to dominate the starch-based bioplastics packaging market owing to the stringent regulations against the consumption of conventional plastics along with the popularity of sustainable packaging in various end-use industries. The growth for starch-based bioplastics packaging is aided by government policies and environmental awareness amongst the population. Furthermore, Asia Pacific is likely to be a potential market in the near future on account of the growing packaging industry in countries of China and India such as consumer goods, food & beverage and pharmaceutical industries.

Starch-Based Bioplastics Packaging Market: Impact of COVID 19

COVID-19 outbreak has resulted in a subsequent halt in manufacturing activities which is expected to have an impact on the supply chain and the availability of a variety of renewable resources. In addition, the impact of the outbreak is likely to have a significant impact on the imports and exports of chemicals and raw materials. Thus, the demand for starch-based bioplastics packaging is likely to be low for the year 2020. However, the availability of the raw material combined with the R & D is likely to grow the starch-based bioplastics packaging market in the years to come.

Starch-Based Bioplastics Packaging Market: Key Players

Key players in the Starch-Based Bioplastics Packaging Market are as follows,

• Biome Bioplastics
• BASF SE
• Corbion Purac
• Cardia Bioplastic
• Braskem S.A.
• Novamont S.P.A
• Innovia Films.
• Natureworks LLC
• Toray Industries Inc.
• Biobag International
• NatureWorks
• Metabolix, Inc.