A new report from Global Market Insights indicates that the food and beverage industry led demand among end-users in the global biopolymer films market in 2017. The report analysed the biopolymer market in some countries over six continents.
The demand for biopolymer films is predicted to grow, primarily due to escalating sales of packaged food. Packaged food sales, in turn, are being boosted by increasing per-capita income and a growing working population. Fresh food packaging, tetra packs, dry snacks, bakery goods, meat trays and juice bottles use biopolymer films.
The food and beverage industry is, however, not the only player to influence the market. Biopolymers are also used in the home and personal care segments, medical and pharmaceutical and agriculture industries.
The increased market share can be ascribed to the increasing demand for eco-friendly packaging among consumers, which has driven plastic manufacturers to shift their attention to eco-friendly plastic replacements, including that of biopolymer packaging. The report predicted that Asia Pacific, led by India and China, would be the fastest growing region in the next few years. The study predicted that the market value would surpass $6.7 billion US by the year 2025, and that it will experience a steady growth rate each year.
The report indicated that bio-based raw materials represented 40% of the biopolymer films market share in 2017. Bio-based raw materials are expected to see a significant growth pace due to the high-renewable content, ease of processability, optical performance, sealability and barrier properties.
The global biopolymer films market is highly competitive due to a large number of industry players and the unorganized sector. Some of the major players in this market include Braskem, Taghleef, BASF, Innovia Films, Plastic Union, Evonik, Avery Dennison, Klöckner Pentaplast, Mondi Group, Industria Termoplastica Pavese, Toray Industries, BioBag International, NatureWorks and Amcor.
The report was first published in 2017 but was updated in January 2019. The study examined the biopolymer markets in the U.S, Canada, China, Japan, India, Australia, Indonesia, Malaysia, Germany, the UK, Spain, Italy, Brazil, Mexico, South Africa, Saudi Arabia and the UAE.