Bio container
or biodegradable container are easily decomposed in nature by bacteria
or other living organisms. Recently, recyclable bio container are also
getting popular and being launched by several bio container
manufacturers. In April 2012, Cardia Bioplastics Limited claims that it
has launched the world’s first food contact compliant and fully
recyclable container namely “Biohybrid” for the global nutritional
supplement market and cosmetics industries. Bio container are used to
keep biodegradable materials, food waste, organic materials etc.
Recently, rising demand from the end use industries and increasing
application of bio container attributed to significant growth to the bio
container market in terms of value.
Geographically, the bio container market
can be segmented into North America, Latin America, Europe, Asia-Pacific
(APAC) and Middle East & Africa (MEA). The growth of global bio
container market is expected to witness a healthy CAGR over the forecast
period between 2016 and 2024. North America is expected to hold a
significantly high market share of the bio container market in terms of
volume during the forecast period.
Currently, North America and Europe
together holds more than half of the market share in the global bio
container market in terms of value. In Europe, countries such as U.K and
EU4 creates significant demand for plant-based plastic packaging in the
market. However, Asia Pacific region is projected to be the fastest
growing region in terms of volume sales followed by Europe.
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Large scale foreign investment is also
expected to rise in the region, and is anticipated to fuel the demand of
bio container over the forecast period. Many small Chinese players hold
significant market share in the Asia Pacific bio container market in
terms of value. In Asia Pacific, countries including China, Japan and
Australia are the major growth driving markets for bio container in
terms of revenue contribution. In Latin America, countries such as
Brazil and Mexico are expected to grow significantly during the forecast
period in terms of revenue.
Bio container Market – Market Dynamics:
The global bio container market is
expected to witness a strong growth due to the rising consumer awareness
about nature friendly products and changing inclination of consumers
towards sustainable products. Other growth drivers for the bio container
market include rise in implementation of plastic containers bans,
increased focus on sustainable packaging by brand owners and retail
companies, etc.
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