The bioplastic packaging market is experiencing explosive growth, driven by environmental concerns, government regulations, and consumer demand for sustainable alternatives. the competition in this space is heating up, with established players and innovative startups vying for market share.
Factors Influencing Market Share:
Key Companies in the Bioplastic Packaging market include
Recent News
January 2022: Vikas Ecotech Limited has declared that it is going ahead with BioPlastics (PHA) technology as an environmentally friendly investment; currently, its advanced stage involves making up its mind as regards technological tie-up or JV with Aurapha Private Ltd. (the “AuraPHA”) for production of biodegradable plastics.
In August 2021, Danimer Scientific acquired Novomer, which produces compostable polymers. The move will improve the supply chain surrounding PHA resin production as well as other types of biodegradable materials.
In July 2021, Amcor Plc teamed up with Syntegon to make a new mono-PE vacuum pack that can be recycled because it is made out of plastic material, which recycles easily and is also more sustainable.
NatureWorks LLC has been expanding its Ingeo brand product line; this versatile material finds application in a wide range of packaging needs. Additionally, the company has been working with various partners to develop new grades of Ingeo that have improved performance properties such as enhanced barrier properties for food packaging applications.
In August 2022, LG Chem Ltd., the largest chemical firm in Korea announced its partnership with US food processing company Archer Daniels Midland Co. (ADM) to establish two manufacturing plants in Illinois, United States. The production facilities will be making biodegradable plastics used extensively in food packaging applications.
Bioplastic Packaging Market Highlights:
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