The global bioplastic utensils market is anticipated to grow at a CAGR of 6.0% during the forecast period (2022-2028). Biodegradable plastics supports to conserve petroleum supplies. Traditional plastics come from heating and treating oil molecules until they turn into polymers. Bioplastics come from natural sources including crops such as corn and switchgrass. This makes them conserve non-renewable sources of energy such as petroleum. The bioplastic material is made up of chemical compounds that are derived from or synthesized by microbes such as bacteria or by genetically modified plants. Bioplastics are used for disposable items, such as packaging, crockery, cutlery, pots, bowls, and straws. These are some driving factors for the growth of the global bioplastic utensils market.
Along with the growth in a variety of bioplastic materials, properties such as flexibility, durability, printability, transparency, barrier, heat resistance, and gloss, among others have significantly augmented the market growth. Additionally, bioplastics supports to reduce the use of fossil fuels resources. Bioplastic is also less toxic and does not contain bisphenol A (BPA), a hormone disrupter that is often found in traditional plastics. These are some other factors driving the growth of the market.
Some major players in the market include Akshay, Inc., Eco-Products Inc., and Bionatic GmbH, among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships, new product launches, and collaborations, to stay competitive in the market.
Recent Developments
- In September 2021 World Centric expands the NoTree Packaging collection with 17 New 100% Tree-Free Compostable Products.
- In May 2021, one of the leading packaging manufacturer’s detpak announces a strategic partnership with Eco Products Inc.
- In January 2020, Biopac UK and Biopak Australia merge to become Biopak.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Type
- By Application
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- Akshay, Inc., Eco-Products Inc., and Bionatic GmbH, among others.
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Global Bioplastic Utensils Market Report by Segment
By Type
- Below 3.0 Grams
- 0-3.5 Grams
- 5-4.0 Grams
- 0-4.5 Grams
- 5-5.0 Grams
- 0-5.5 Grams
- Above 5.5 Grams
By Application
- Retail/Home
- Commercial/Wholesale
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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