Bio container or
biodegradable container are easily decomposed in nature by bacteria or other
living organisms. Recently, recyclable bio container are also getting popular
and being launched by several bio container manufacturers. In April 2012,
Cardia Bioplastics Limited claims that it has launched the world’s first food
contact compliant and fully recyclable container namely “Biohybrid” for the
global nutritional supplement market and cosmetics industries. Bio container
are used to keep biodegradable materials, food waste, organic materials etc.
Recently, rising demand from the end use industries and increasing application
of bio container attributed to significant growth to the bio container market
in terms of value.
Bio
Container Market – Market Segmentation:
Based on materials,
bio container market is segmented into
·
Bio-PET
·
PLA and blends
·
Starch blends
·
Bio-PE
·
Others including PBS
and PHA
On the basis of
application, the market is segmented into
·
Bags and Pouches
·
Boxes
·
Bins
·
Others
Based on end user
industry, bio container market is segmented into
·
Food & Beverage
·
Household
·
Agriculture
·
Pharmaceuticals
·
Others (Healthcare and
electronics)
Bio Container Market – Regional Outlook:
Geographically, the
bio container market can be segmented into North America, Latin America,
Europe, Asia-Pacific (APAC) and Middle East & Africa (MEA). The growth of
global bio container market is expected to witness a healthy CAGR over the
forecast period between 2016 and 2024. North America is expected to hold a
significantly high market share of the bio container market in terms of volume
during the forecast period. Currently, North America and Europe together holds more
than half of the market share in the global bio container market in terms of
value. In Europe, countries such as U.K and EU4 creates significant demand for
plant-based plastic packaging in the market. However, Asia Pacific region is
projected to be the fastest growing region in terms of volume sales followed by
Europe. Large scale foreign investment is also expected to rise in the region,
and is anticipated to fuel the demand of bio container over the forecast
period. Many small Chinese players hold significant market share in the Asia
Pacific bio container market in terms of value. In Asia Pacific, countries
including China, Japan and Australia are the major growth driving markets for
bio container in terms of revenue contribution. In Latin America, countries
such as Brazil and Mexico are expected to grow significantly during the
forecast period in terms of revenue.
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Bio container Market – Market Dynamics:
The global bio
container market is expected to witness a strong growth due to the rising
consumer awareness about nature friendly products and changing inclination of
consumers towards sustainable products. Other growth drivers for the bio
container market include rise in implementation of plastic containers bans,
increased focus on sustainable packaging by brand owners and retail companies,
etc. Moreover, high demand from food and beverage and pharmaceutical industry
for bio container creates a lucrative opportunity for the global bio container
market. Bio container has higher costs than ordinary container, consequently
bio container is not getting wide acceptance, especially among the small and
medium enterprises. However, increasing demand from large scale industrial
companies is expected to create significant opportunity to increase the revenue
of the global bio container market.
Bio Container Market – Major Players:
Some of the major
players identified across the globe in the bio container market Eco-Products,
Inc., Genpak, LLC, Biopac (UK) Ltd, WestRock Company, Cardia Bioplastics
Limited, Ecoware SpA, Rim Bio Inc., Biopac India Corporation Ltd., BioVentures,
Inc., Tipa-corp ltd., Novamont SpA and BASF SE.
The research report
presents a comprehensive assessment of the market and contains thoughtful
insights, facts, historical data, and statistically supported and
industry-validated market data. It also contains projections using a suitable
set of assumptions and methodologies. The research report provides analysis and
information according to market segments such as geography, packaging type,
material and end-use.
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