Global Bioplastics and Biopolymers market growing at a CAGR of 16.27% during the forecast period
The report on "Global Bioplastics & Biopolymers Market by Type (Bio-PE, Bio-PET, Regenerated Cellulose, PolyHydroxyalkanoates).
By: GMI Research
Bio-PET is projected to be the fastest growing segment. Bio-PET (PolyEthylene Terephatalate)
Packaging and bottles segment is estimated to hold the largest market share in the bioplastics and biopolymers market. The packaging and bottles segment is estimated to capture the largest share of the total bioplastics and biopolymers market. Bioplastics are extensively used in the packaging of food, goods, cosmetics, and pharmaceuticals. The key factor propelling growth is the global consumer demand for bio-packaged products.
Europe is estimated to capture a substantial share in the bioplastics and biopolymers market. The increasing popularity towards sustainable packaging is the main reason for the market growth. Lawmakers across countries are aware of the environmental problems associated with conventional plastics which has led the governments across countries to enact stringent rules and regulations. These regulations have made companies started to use bioplastics in their products. The bioplastics and biopolymers markets in UK, Germany, and France are expected to grow at a faster rate across Western Europe countries.
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