Study Shows Positive Outlook for Bioplastic Packaging
Consumers’ quest for more sustainable packaging has becoming a driving force in the increased use of bioplastic materials, creating a promising outlook for this growing market segment, according to a recent study by Transparency Market Research, a global market intelligence company.
However, the complications associated with the production of bioplastic packaging materials through agro-based raw materials, coupled with the increasing production of crude oil and natural gas in the Middle East and Russia (leading to reduced oil prices), is anticipated to pose a threat to the overall growth of the bioplastic packaging market over the forecast period. Other factors which could hamper the market growth include high cost of biodegradable plastics as compared to petro plastics, as well as performance, durability and quality concerns.