Bioplastics are a group of polymers that are biodegradable in nature, which are basically manufactured from renewable sources such as vegetable fats and oils, corn starch, straw, woodchips, and food waste. The bioplastic packaging market is expected to witness rapid increase owing to growing environmental awareness and supportive government regulations to boost the consumption of bioplastics.

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Based on region, the bioplastic packaging market is categorized into Europe, North America, Asia-Pacific, Latin America, and Middle East and Africa. Among all the regions, Europe was the largest region for bioplastic packaging followed by North America and Asia-Pacific. However, the Asia-Pacific market is expected to witness the fastest growth. The growing demand for eco-friendly, advanced, and effective packaging in Asia-Pacific countries such as China and India is attributed by growing consumption of packaged food and beverages, and rising need for packaging solutions from e-commerce industry.

With rapid urbanization and industrialization, demand for packaging is growing exponentially in emerging economies. The growing demand for eco-friendly, advanced, and effective packaging in Asia-Pacific countries such as China and India is boosting the growth of the bioplastic packaging market. In the coming years, emerging countries are expected to undertake environment-friendly approach for packaging solutions due to strict regulations and supports by the governments. This will create opportunity for the advanced bioplastic packaging solutions in the emerging economies.

Major driver identified in the bioplastic packaging market is the growing focus of governments across various nations to incentivize the companies producing bioplastics, while simultaneously regulating the capacity expansion of conventional plastics. The net benefit to a country adopting bioplastics on a mass scale is prevention of ecological damage that would have been caused by conventional plastics. Furthermore, this also removes the need for further resources to fix the damage.

Major restraint identified in the bioplastic packaging market is high cost of production of bioplastics. Though bioplastics are biodegradable, they cannot be degraded as easily as naturally occurring organic matter. In order to balance the physical properties of plastics and biodegradability of organic matter, the overall cost of production of bioplastics increases significantly. Technological innovations and government incentives are likely to erase the price gap between conventional and bioplastics eventually, but till then the global bioplastics packaging market will face an uphill battle.

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Some of the major competitors in the global bioplastic packaging market include DowDupont Inc., BASF SE, Mitsubishi Plastics Inc., Novamont S.p.A., Braskem S.A., NatureWorks LLC, Koninklijke DSM N.V., Innovia Films Ltd., and ECM BioFilms Inc.

The study provides the historical as well the forecast market size data for various countries, including the U.S., Canada, France, Germany, the U.K., Italy, Spain, Japan, China, India, Brazil, Saudi Arabia, and South Africa.