NEW YORK, May 20, 2019 (GLOBE NEWSWIRE) -- Key factors contributing to high CAGR in Bioplastic Packaging Market are technological developments, government rules and regulation for betterment of the environment. Improvement in the quality offered, durability and general awareness for sustainable packaging for reduction of harmful plastics all over the world is resulting in growing of high market demand rate.
Market Size – USD 5649.5 Million in 2018, Market Growth – CAGR of 19.9 %, Market Trends – Product Launches and Research for Advanced Tech Developments
Based on current analysis, the Global bioplastic packaging market was valued at USD 5649.5 Million in year 2018 and is anticipated to reach USD 24289.7 Million by year 2026, at a CAGR of 19.9 %. Development of bioplastics is made through the use of feedstock to minimize the problem caused by conventional plastics. Falling demand for conventional plastics due to its harmful effects on the ecology has further fueled to rise high demand for use for bioplastic materials for packaging. With commencement of industrial and trade technologies, companies from all around the world have induced greater standing for the use of bioplastic plastic.
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The large number of products manufactured with the help of materials which will not be degraded for a longer period of time are creating high level of concern, especially in economies with are still undergoing development. Rising mindfulness for sustainable packaging among the general public and sufficient availability of raw material in developing economies have an affirmative influence on the growth on the bioplastic packaging market. Moreover, government intervention in generating awareness about subtracting consumption of non-recyclable plastic is also one of the significant drivers to induce the growth of bioplastic market. Rise in the use of bioplastic packaging in almost all market sectors is determined by growing demand for sustainable and long-lasting products by consumers because of increasing alertness and education in the field of ecology and environment.
Further key findings from the report suggest
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Segments covered in the report:
For the purpose of this study, Reports and Data have segmented the global Antibody production market on the basis of Type, Material Type, Applications, End Users and Region:
Type (Revenue, USD Million; 2016–2026)
Material Type (Revenue, USD Million; 2016–2026)
Applications (Revenue, USD Million; 2016–2026)
End Users (Revenue, USD Million; 2016–2026)
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Regional Outlook (Revenue, USD Million; 2016-2026)
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