The global biodegradable plastic packaging market will reach $1.85 billion in 2011, according to Visiongain’s new Biodegradable Plastic Packaging Market 2011-2021 report. The market is gradually gaining significance in the vast global packaging industry.

While the recession impacted demand for all types of packaging; upcoming environmental issues and diminishing fossil reserves have raised concerns, resulting in steady growth for biodegradable plastic packaging, say analysts. Visiongain expects the global packaging market and in particular, the biodegradable plastic packaging market to demonstrate solid growth. The emerging economies will continue to register strong growth, driving demand for sustainable, eco-friendly biodegradable plastic packaging products in the coming decade. Rising concerns over environmental hazards, carbon footprint emission and waste reduction targets specified by different countries and the trend towards ‘green packaging’, are the factors likely to boost the market for biodegradable plastic packaging solutions.

Contributing further to the growth of the biodegradable plastic packaging market are: consumer and retailer acceptance for eco-friendly packaging; reformation in regulatory trends; support for biobags and biodegradable packaging from retailers; and escalating oil prices boosting the demand for alternative packaging materials.

Technological advancements related to lightweight packaging will further boost the demand in the industry, according to the report. Key industry players and manufacturers are opting for better materials made from renewable sources for packaging purposes. Biodegradable plastic naturally has properties which make it one of the easiest materials to recover and recycle, or else decompose in nature. It also has a competitive advantage over other packaging materials, which makes it easier to recycle, reduce and reuse to raise its eco-friendly profile.

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