Bioplastic packaging is increasingly gaining importance in emerging regions such as the Asia-Pacific region, with increasing demand for effective, advanced, and eco-friendly packaging, according to the Global Flexible Packaging Market 2014-2018 report by reportsnreports.com.
Markets in countries in the region such as China and India are forecast to witness the fastest growth (a compound annual growth rate [CAGR] of approximately 7-8%) during the forecast period.
The per capita consumption in these countries is also expected to increase.
Some of the key drivers propelling the growth of the bioplastic packaging market in the emerging countries are the increase in:
– manufacturing output for consumer goods,
– demand for packaged food and beverages due to the increase in the population, and
Therefore, increasing demand from the emerging countries is another trend that is expected to have a positive impact on the global bioplastic packaging market during the forecast period.
Analysts forecast the global bioplastic packaging market to grow at a CAGR of 19.85% over the period 2013-2018.
According to the report, one of the major drivers in the market is the increased need for eco-friendly packaging.
Bioplastics are primarily made from natural and renewable resources.
They also help keep foods safe and fresh and ensure that the food does not get contaminated and the food quality does not degrade.
The increased awareness of these benefits of bioplastic packaging among end-users is propelling the growth of the global bioplastic packaging market.