The future of the exploding bioplastics industry is looking bright, with no slowdown in sight. Major brands are changing from fossil-based plastics to bio-based sources for their products and especially packaging.
Check out the news from Plastics Today:
Bioplastics are flourishing. An annual market data update, presented Nov. 29 by European Bioplastics (Berlin) at the 12th European Bioplastics Conference in Berlin, confirm a global bioplastics industry experiencing high, stable growth.
“The global market for bioplastics is predicted to grow by 20% over the next five years,” says François de Bie, Chairman of European Bioplastics. “The transition to a low-carbon and circular economy, stronger policy support for the bioeconomy, and an increased consumer awareness for sustainable products and packaging are driving the expansion”
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Packaging at 60% of total market
Packaging remains the largest field of application for bioplastics with almost 60% (1.2 million tonnes/1.32 million tons) of the total bioplastics market in 2017. The data also confirms that bioplastics materials are already being used in many other sectors, including textiles, consumer goods and applications in the automotive and transport sector and the agriculture and horticulture sector.
Read Full Article Source: Global market for bioplastics to grow by 20%
