Global plastic packaging market is expected to witness lucrative growth over the upcoming years owing to its increasing applications in the pharmaceuticals, food and beverages industry. Plastics are classified as flexible and rigid plastics. The major applications of rigid plastics include in bottles, caps and aerosols. The key applications of flexible packaging include in pouches and sachets. Plastics are widely used in packaging in light of their cost effectiveness, high barrier properties, and durability. Plastics are durable and tough enough to endure rough handling in the time of transportation and distribution. Growing need for plastic packaging in the healthcare industry is anticipated to be one of the major factors fuelling the success of the market. Moreover, development of the beverages and food market, which is considered to be the most lucrative application of plastic packaging, is expected to fuel growth of the sector. In addition, increasing inclination towards highly aesthetic, durable and light weight packaging is anticipated to escalate the growth of the industry over the upcoming years.
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Raw materials for bioplastic
packaging are obtained from bio-based resins including PHA, bio-PP, bio-PET and
poly lactic acid (PLA). Abovementioned resins offer properties including
resistance and tensile strength, which are expected to increase their usage in
kitchen utensils, electronics, and food & beverages industries over the
upcoming years. Plastic packaging market demand is expected to emerge in
countries including BRICS, which are anticipated to grow in light of growing applications
of food & beverage and electronics industries at the local level.
Changing trend from synthetic products to environment friendly
alternates is anticipated to escalate the demand for bioplastic market. The
increasing expenditure on development of bio-based chemicals by the chemical
manufacturers with a chief objective to lessen dependence on petrochemical
stocks, which are projected to rise the accessibility of raw materials for
bio-packaging products. Bioplastic is likely to emerge as a productive market
for the textile industry on account of increasing responsiveness towards
organization of environment protection practices. Plastics are made from
petrochemicals. Encouraged by the risk of global warming and limited
availability of petrochemical reserves, bioplastics are being developed and
implemented.
Bioplastics are produced
significantly from renewable plant materials including starch and cellulose.
Growing production of natural gas and crude oil in Russia and Middle East by
companies leading to decrease of oil prices is anticipated to have an adverse
effect on the sector in the upcoming years. A high complication related to the
production of bioplastic packaging materials by agro-based raw materials is
anticipated to be a challenging aspect of the industry in the near future.
Rising demand for bio-based PET in packaging owing to increasing R&D
spending by beverage manufacturers including The PepsiCo Company and Coca-Cola
is expected to open new opportunities for the market over the next few years.
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Increasing disposable incomes and
changing trend in developing economies of China, Middle East and India is
anticipated to fuel the demand for convenience foods and therefore expected to
open application scope over the upcoming years. Rising scope of the pharmaceutical
industry growth in Brazil, India and China on account of increasing demand for
medical drugs along with rising investments in foreign is expected to augment
plastic packaging market demand in the upcoming years. Europe is
anticipated to be the dominating market for plastic packaging over the upcoming
years in light of strict rules against consumption of non-recyclable plastics
coupled with increasing demand of ecological packaging in the manufacturing
industry.
Supportive government policies in Europe that includes the 2020
strategy of Europe, which is the backing support for the bio-economy, inspire
public authorities to change inclination towards obtaining biobased products
and permitting a member of states to lessen taxes for bio based products. The
European Commission implemented an action plan on bioeconomy to encourage the
production and consumption of bio-based chemicals at core levels in the region
in 2012. The plan is meant for the progress of new technologies and processes
for manufacturing bioplastics materials through enhancing public private
partnerships and financing of pilot plants.
Asia Pacific is expected to be a
budding market in upcoming years in light of increasing packaging industries in
countries including China and India on account of progressive outlook on food
& beverage, consumer goods, and pharmaceutical industries. The government
of China introduced a new policy for the prohibition of plastic bags, which is
a threat for synthetic plastics but is an opportunity for bioplastics. The plan
is intended for inspiring manufacturers to set up manufacturing units for
bioplastics through tax reclamation concerning to set up of an industrial unit
and therefore likely to stimulate the bioplastic packaging market. Availability
of raw materials in abundance including oilseeds and sugarcane in Brazil is
likely to propel plastic manufacturers to have their facilities in surrounding
area over the upcoming years.
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