Business news

Increasing Concern about Environment and Government Initiatives to Boost Compostable Plastics Market

Biodegradable plastic alternatives are becoming more popular as environmental worries about plastic consumption grow (plastics contain hazardous toxins that affect people, animals, and plants). Invasive organisms can utilize floating plastic debris, which can last hundreds of years in water, as a mode of transit. The expansion of the global compostable plastics market is aided by the abovementioned factor.

The demand for compostable plastics in packaging is being boosted by tough laws enacted by different authorities and federal agencies with the goal of reducing plastic waste and encouraging the use of biodegradable polymers in packaging. Green packaging standards are becoming more stringent. As a consequence, numerous FMCG firms are being forced to embrace biodegradable packaging to meet the criteria, which is likely to fuel expansion of the global compostable plastics market.

However, as compostable plastic is derived from plant starch and requires specific circumstances for disintegration, such as humidity, bacteria, temperature, and so on, which might not be available in most landfills and dump yards. Besides, expensive prices (relative to regular plastic) are expected to limit expansion of the global compostable plastics market.

Growing Usage in Cosmetics and Medical Applications to Fuel Growth of the Global Market

The overriding issue of climate change, as well as the anticipated future scarcity of fossil fuels, has pushed the quest for superior plastic packaging solutions. Packaging made of bioplastics has the same properties as traditional packaging. It also has a higher level of long-term viability.

Bioplastic packaging, as well as luxury and branded items with special specifications, are in great demand. Excellent processing of bioplastics packaging is achieved by combining recycling elements of traditional plastics, such as rPET, with bioplastics (bio-based PET). The first commercially viable bioplastic product was compostable food packaging that was certified as industrially compostable.

The use of bioplastic in cosmetics packaging, such as lipsticks, creams, and compact powders, as well as beverage bottles, is growing. PLA, bio-based PE, and bio-based PET are some of the materials employed. This factor is anticipated to support growth of the global compostable plastics market in the years to come.

The high proportion of bio-based content in these products, and also the capability to blend it with recyclates from traditional PE and PET, are likely to result in a significant gain in resource effectiveness and reduced CO2 emissions. These factors are predicted to contribute to the growth of the global compostable plastics market.

The demand for bio-based goods is expanding in response to the growing need to minimize reliance on traditional fossil fuels. New laws and regulations created and enacted by government bodies across the world encourage this. The usage of traditional plastics in uses such as disposables, shopping bags, and packing materials is prohibited or subjected to extra fees under these rules. The global market for bioplastics, particularly biodegradable plastics, is being driven by rising restrictions and bans on plastic bags as well as other plastic goods.

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Rising Demand to Curb the Usage of Traditional Plastics to Propel Europe Market

The European Union’s intention to cut total usage of flimsy plastic bags in the region by around 80% in 2018 as compared to 2010 levels is projected to provide substantial development prospects for compostable plastics makers in the next few years to come.

Traditional end-user sectors, such as textiles, agriculture, and packaging, are likely to see a major increase in demand for compostable plastics. These plastics are also becoming more popular in other specialty markets, including medical implants and medication delivery systems. These factors are likely to propel the global compostable plastics market in the years to come.

European retailers such as Carrefour, Coop, Aldi, and Rossmann employ single or multi-use bioplastic carrying bags that are also biodegradable. The biodegradable/compostable cups are also utilized at major sporting events and in major football stadiums around Europe.

Pragati Pathrotkar

Pragati Pathrotkar is Team Lead for the SEO department at Transparency Market Research Pvt. Ltd. She is a specialist in search engine optimized (SEO) content with a wealth of experience gathered from working in leading market research firms.

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Pragati Pathrotkar

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