Demand for bioplastic packaging forecast to reach 884,000 tonnes
Global demand for bioplastic packaging is forecast to reach 884,000 tons by 2020, as per a report by Pira International. This translates to a compound annual growth rate of 24.9% from 2010-15 slowing to a CAGR of 18.3% in the five years to 2020.
According to the study, a new breed of bioplastics will be major drivers as packaging market demand gradually shifts from biodegradable and compostable polymers towards biopackaging based on renewable and sustainable materials. Braskem, the Brazilian plastics and chemicals supplier offers grades of polyethylene in which the ethylene is derived from sugar cane.
Tetra Pak and P&G are among brand owners who are testing the supplier's ...