Trends in Western European Bioplastics in Packaging Market

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Nov 25, 2015, 02:35 ET

NEW YORK, Nov. 25, 2015 /PRNewswire/ -- Trends in Western European Bioplastics in Packaging Market : Preference for Degradable Bioplastics Enables Strong Foothold for Market Participants

Bioplastics are manufactured from polymers derived from plants, from animals, or from microbes Stricter regulations and the policies enforced on industries to reduce carbon footprints are the factors behind the current fast growth of this market Consumers are also becoming aware of the deleterious effect on environment Though the majority of bioplastics do not biodegrade, they are still preferred because they are not formulated with petroleum-based polymers Biodegradable packaging is increasing the focus on sustainability and a preference for degradable bioplastics enables a strong foothold for market participants
Key Findings
The Western European bioplastics market was worth metric kilo tons in 2014 and is expected to grow at a compound annual growth rate (CAGR) of % from 2014 to 2021
-The Western European bioplastics packaging market is in its growing stage Though the products have been in the market for decades, they are currently being produced at a larger scale than before
-Bio-based bioplastics dominate the market as a result of the stable cost structure of product and the stable demand from the region
-The market is expected to be driven mainly by the growth of the green revolution and by the strict regulations followed in the Western European region Innovation is the key factor to sustaining and expanding the market share for participants
-Countries with the highest utilization of bioplastics are the Netherlands, Germany, Italy, and England There is also promising market growth observed in Austria, Belgium, Spain, and Switzerland
-The biggest challenge is the recyclability of bioplastics Because the market is dominated with non-biodegradable plastics, decomposting or degrading them is more difficult than petroleum-based polymer plastics

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