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Bioplastic Packaging Market Size
- Report ID: GMI12227
- Published Date: Nov 2024
- Report Format: PDF
Bioplastic Packaging Market Size
The global bioplastic packaging market was valued at USD 17.6 billion in 2023 and is estimated to grow at a CAGR of over 17.3% from 2024 to 2032.
The bioplastic packaging industry is growing rapidly, driven by consumer demand for eco-friendly options and strict government regulations on plastic waste. Technological advances are making bioplastics more cost-effective, while corporate investments boost R&D and production. For instance, in November 2023, Sulzer is expanding its bioplastics portfolio with the introduction of a new technology called CAPSUL, designed for the continuous manufacturing of polycaprolactone (PCL), a biodegradable polyester.
This innovative technology aims to enhance the production efficiency of PCL, which is widely used in various applications such as packaging. The industry is seeing increased adoption in food & beverage, personal care, and pharmaceutical sectors. As recycling and composting infrastructure improves, the market is set to expand further, aligning with the shift towards a circular economy and higher sustainability standards in packaging.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Bioplastic Packaging Market Size in 2023: | USD 17.6 Billion |
| Forecast Period: | 2024 – 2032 |
| Forecast Period 2024 – 2032 CAGR: | 17.3% |
| 2024 – 2032 Value Projection: | USD 73.6 Billion |
| Historical Data for: | 2021-2023 |
| No. of Pages: | 420 |
| Tables, Charts & Figures: | 500 |
| Segments covered: | Material, Packaging Type, End-use Industry, Region |
| Growth Drivers: |
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Frequently Asked Questions (FAQ) :
Bioplastic Packaging Market Scope
