Growing Government Support to Environmental Protection Drives Bioplastic Packaging Market
The major driver for the global bioplastic packaging market is the increasing environmental awareness among the global population. The public opinion about conventional plastics is shifting due to the rising awareness about the problems they cause, and an increasing consumer pool is going green by using bioplastics.
Several governments have also expressed solid support to the bioplastic packaging market, as large-scale adoption of bioplastics helps prevent environmental damage and also allows the governments to redirect the money that would have gone into fixing the damage caused by plastics.
Due to the growing public support and regulatory incentives, many packaging companies are starting to incorporate bioplastics in place of conventional plastics in their operation. This allows the companies to appeal to their target audience while complying with the regulatory framework.
Europe Leads Global Bioplastic Packaging Market
Due to the strong support shown by Western European countries to the development of bioplastics, Europe is the largest market for bioplastics. The support shown by the people as well as governments in Europe is expected to drive the market in the coming years as well.
In the coming years, Asia Pacific is expected to be a major bioplastic packaging market. Currently, the high prices of bioplastics have restricted their use in developing regions. However, ongoing technological innovation into reducing the manufacturing cost of bioplastics and the steady support shown by governments all over the world are expected to ease the price gap between the two types of plastics, making it easier for emerging economies to adopt bioplastics on a large scale.