According to the report titled ‘Global Bioplastic Packaging Market Size study, by Material Type (BIO - PET, BIO - PE, BIO - PA, Starch Blends, PLA, PBAT, PHA), Product Type (Rigid Plastic Packaging, Flexible Packaging), End-user Industries (Food, Beverage, Pharmaceuticals, Personal Care & Household Care), and Regional Forecasts 2021-2027’, available with MarketStudyReport, global bioplastic packaging market is anticipated to grow at 15.2% CAGR during the forecast period 2021-2027. 
 

Elevated use of non-biodegradable materials, soaring consumer demand for sustainable packaging, in consort with heightened public awareness of environmental health issues such as soil pollution and the detrimental consequences of plastics are driving the growth of the global bioplastic packaging market.
 

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To this effect, European Bioplastics e.V. (Association of Bioplastics) reported that the global production capacity of bioplastics is expected to rise from 2.11 million tonnes in 2020 to around 2.87 million tonnes in 2025. 
 

Growing modernization leading to innovative technology solutions for the packaging sector, expanding e-commerce platforms, and widespread consumer preference for eco-friendly materials are likely to generate lucrative opportunities for businesses in this domain.
 

Despite the positive outlook, due to the absence of a strong recycling infrastructure, limited awareness about the importance of sustainability in some emerging economies, highly variable raw material prices, and packaging transition toward non-plastic solutions are expected to hinder the worldwide bioplastic packaging market outlook.
 

Based on material type, the market is divided into BIO-PA, BIO-PET, BIO-PE, PLA, PHA, PBAT, starch blends, and others. In terms of product terrain, the market is categorized into flexible packaging, and rigid plastic packaging. Concerning end-user spectrum, the industry is classified into pharmaceuticals, food, beverage, personal & household care, and others.
 

From a regional standpoint, Europe accounted for a significant market share in terms of revenue in 2020 and is estimated to rise exponentially over the projection period, due to growing popularity of sustainable packaging in manufacturing vertical, and government initiatives like Europe 2020 policy which encourages prioritizing the purchase of bio-based products by reducing taxes on them.
 

Moreover, strict rules prohibiting the use of non-recyclable plastics are anticipated to augment the regional market share by the end of 2027.
 

The competitive landscape of global bioplastic packaging market is defined by companies such as Albis Plastic GmbH, Koninklijke DSM N.V., The Dow Chemical Company, Novamont S.p.A., Eastman Chemical Company, Huntsman IFS Polyurethanes Limited, Yield10 Bioscience Inc.., BASF SE, NatureWorks LLC, and Arkema S.A. among others.