Market Research Of Biodegradable Plastic Packaging Market By Knowledge Sourcing Intelligence


INTRODUCTION
Biodegradable plastic packaging market is projected to witness a compound annual growth rate of 12.37% during the forecast period to reach a market size of US$10.132 billion by 2023, increasing from US$5.033 billion in 2017. Growing environmental concerns coupled with stringent regulatory standards has led the plastic manufacturers to develop biodegradable plastic. 
Manufacturing of biodegradable plastics requires less amount of energy and they do not need fossil fuels to be recycled. Rising demand for sustainable packaging solutions across industries such as food and beverage and pharmaceuticals is fueling the demand for biodegradable plastic packaging, thus bolstering the growth of global biodegradable plastic packaging market.Market Research is done by knowledge sourcing industry due to huge scope with respective industry.
biodegradable plastic packaging market
sample view of biodegradable plastic packaging market share
Biodegradable Plastic Packaging Market by Type of Material
By type of material, the biodegradable plastic packaging material market is segmented into Low density polyethylene (LDPE), Polyethylene Terephthalate (PET) and Polylactide (PLA). Low density polyethylene (LDPE) segment is expected to show robust growth during the given forecast period owing to its rising adoption and usage in wide variety of segments such as packaging films, milk cartons, dispensing bottles. Polyethylene Terephthalate (PET) market is anticipated to hold a significant during the given frame due to its non-toxicity, safety, lightweight, sturdiness and flexibility. 

The Low Density Polyethylene market for biodegradable plastic packaging material was valued at US$XX.XX billion in 2017 and is expected to grow at an impressive CAGR of XX.XX% over the forecast period to reach a total market size of US$XX.XX billion in 2023. The growth may be attributed to its extensive usage in packaging films, milk cartons, dispensing bottles due to its low reactivity and food grade quality. Transparency and cost effectiveness of the LDPE is also one of the major factors driving the market growth.
biodegradable plastic packaging market
sample view of biodegradable plastic packaging market share by type of material
Low cost of the LDPE as compared to the other materials such as low linear density polyethylene (LLDPE) and ease in production of LDPE will also boost the growth of the market during the given forecast period. The growing demand for sustainable products in packaging development will also augment the growth of the market during the given time frame. However, challenges related to the recycling of the LDPE might restrain the growth of the market during the forecast period. 
Market Dynamics
Biodegradable plastics are made of biomass which includes grass, trees, plants, and other organic materials and it easily decomposes and is completely renewable. It is an organic compound making it much easier to breakdown. Moreover, biodegradable plastics do not need oil for their manufacturing or production like other plastics, leading to less pollution emission in to the environment. One of the advantages related to the use of biodegradable plastics is the minimal emission of carbon in the air during the process of manufacturing biodegradable plastic packaging. 

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