A growing demand for more environmentally friendly products has seen the bioplastics market expand tremendously in recent years.
Increasing consumer awareness is one of the key drivers that will lead to an anticipated 236% growth of the global bio-based plastics market over the next six years, to reach an estimated $65.6 billion by 2022.
Today, eco-conscious consumers attach environmental benefits to bioplastics, including the reduced usage of natural gas and petroleum, the potential minimization in carbon footprint, and the reduction of global warming potential (GWP).
A 2015 survey, for example, showed that 84% of consumers globally say they seek out responsible products whenever possible, and 9 out of 10 consumers expect companies to address environmental issues.
Trend towards fully sustainable products
Businesses cannot afford to ignore this trend, and it is important for them to offer products that reflect their responsible values.
Plastics producers are therefore increasingly looking for bio-based additives, so that they can create products that are fully in line with consumer expectations and empower social consciousness, at a competitive price.
Also, they must deliver the same, if not better, performance benefits as conventional materials.
Green packaging influences buying decisions
Bioplastics are used across a variety of sectors, including packaging, transportation, agriculture, electronics, and textiles, but packaging remains the single largest field of application with almost 70% percent of the market.
Product performance and appearance are particularly important when working with food packaging, where manufacturers aim to create differentiation and catch the eyes of consumers.
Read more on plasticstoday.com.