DUBLIN--(BUSINESS WIRE)--The "Biodegradable Plastic Packaging Market - Forecasts from 2018 to 2023" report has been added to ResearchAndMarkets.com's offering.
Biodegradable plastic packaging market is projected to witness a compound annual growth rate of 12.37% during the forecast period to reach a total market size of US$10.132 billion by 2023, increasing from US$5.033 billion in 2017.
Growing environmental concerns coupled with stringent regulatory standards has led plastic manufacturers to develop biodegradable plastic. Rising demand for sustainable packaging solutions across industries such as food and beverage and pharmaceuticals is fuelling the demand for biodegradable plastic packaging, thus bolstering the growth of global biodegradable plastic packaging market.
Supportive government policies further propel the growth of biodegradable plastic packaging market. For instance, Europe implemented the legislation to reduce the number of single-use carrier bags.
Segments covered under the biodegradable plastic packaging market report are as below:
By Type of plastic:
- Oxo-biodegradable Plastic
- Hydro-biodegradable Plastic
By Type of material:
- Low Density Polyethylene (LDPE)
- Polyethylene Terephthalate (PET)
- Polylactide (PLA)
- Bottles and Jars
- Food Wraps
- Dry Cleaning Bags
By End Use Industry:
- Food and Beverage
- Metabolix Inc.
- Toray Industries
For more information about this report visit https://www.researchandmarkets.com/research/46r3tq/10_billion?w=4