Biodegradable bioplastics are plastics derived from renewable feedstocks, such as cellulose, starch, vegetable oils, and vegetable fats and are decomposed by the action of living organisms, usually microbes, in water, carbon dioxide, and biomass.
On the basis of types, biodegradable bioplastics in rigid packaging is segmented into Polybutylene Adipate Terephthalate (PBAT), Polylactic Acid (PLA), Polyhydroxyalkanoates (PHA), and Starch Based plastics. PLA dominates the market as it is an environmentally friendly alternative to plastics because the carbon emissions formed, and energy used to create it are much lower. PLA uses more than 60% less energy during production as compared to traditional plastics and emits around 70% fewer greenhouse gases. Owing to its biodegradable nature, PLA can be disposed of in an environmentally friendly way after use.
In terms of applications, biodegradable bioplastics are widely used in the Food & Beverages, Cosmetics & Personal Care, and Pharmaceutical industries. Food & Beverages is anticipated to dominate the market owing to the rising demand for biodegradable bioplastic packaging for wrapping food, as well as premium and branded products. Biodegradable food packaging is industrially compostable and was the first successfully commercialized bioplastic product. Several companies are coming up with new biodegradable innovations for packaging purposes.
In January 2023, CJ Biomaterials and NatureWorks launched their first consumer-brand cosmetic packaging application.
In May 2023, TotalEnergies Corbion and Coexpan launched new PLA biobased cups.
In 2022, TotalEnergies Corbion announced that it was buying reprocessed PLA waste to recycle into its Luminy PLA brand.
Asia Pacific is the largest market for Biodegradable Plastics owing to the strong presence of the packaging industry in the region. Countries like China, Japan, India, Korea, and Thailand are the largest consumers of biodegradable bioplastics in rigid packaging. China is the largest market for rigid packaging bioplastics with several capacity additions announced in recent years for PLA and PBAT. Western Europe is one of the major producers and consumers of sustainable plastics owing to the rising regulations imposed in the region on the use of plastics.
The packaging industry has undergone significant transformation due to the increasing demand for eco-friendly and user-friendly packaging solutions. Rigid packaging solutions like glass containers, plastic boxes, cans, and cardboard are becoming increasingly popular for packaging food, cosmetics, and personal care products.
Although rigid packaging is slightly more expensive and stronger than flexible packaging, it offers better protection from external factors such as sun and moisture. In response to growing concerns over single-use plastic, other materials such as glass, wood, and metal are being used to create more sustainable and eco-friendly rigid packaging solutions, leading to a rise in the popularity for these options in the global rigid packaging market.
Rigid packaging market players are anticipated to concentrate on two main strategies to retain their dominance: innovation and customization. Currently, customization is a rising trend in the rigid packaging market and is expected to remain a key factor driving its growth. The growing popularity of flexible packaging has motivated rigid packaging market players to develop innovative packaging solutions that comply with reusability and environmental regulations.
High Costs
The growth of the market for biodegradable plastic is hindered by the need for specific conditions such as temperature, moisture, and bacteria for the product's degradation process from plant starch.
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