Global Compostable Plastic Market Overview:
Compostable plastic packaging material is made of numerous biodegradable plastic materials like chitosan, polylactic acid, polycaprolactone, polyhydroxybutyrate, etc. Along with other raw materials that are plant-based renewable materials such as wood pulp, bagasse, palm leaf, etc. These compostable plastic packaging materials provide durability and sustainability without harming the environment.
- Growing Awareness about Threatening Environmental Impact of Plastic Usage
- Demand for Eco-friendly Packaging Materials
- Increasing Use of Compostable Plastic Packaging Material for Protective Packaging
- Stringent Regulatory Compliances with Compostable Plastic Packaging Material
- Surging E-commerce Industry LEading to Increase in Demand fro Packaging Material will Boost the Compostable Plastic Packaging Material Market
- Problems with the Risk of Contamination Due to the Differentiation between Bio and Non-Bio Degradable Plastics
Some of the key players profiled in the report are BASF SE (Germany), Swedbrand Group (Hong Kong), Northern Technologies International Corporation (United States), Danimer Scientific (United States), Novamont S.P.A. (Italy), TIPA Corp Ltd. (Israel), BASF SE (Germany), Innovia Films (United Kingdom), Biome Bioplastics Limited (United Kingdom) and NatureWorks LLC (United States). Considering Market by Distribution Channel, the sub-segment i.e. Online will boost the Compostable Plastic market. Considering Market by Plastic Material, the sub-segment i.e. Chitosan will boost the Compostable Plastic market.
On 30th January 2020, Danimer Scientific, and Columbia Packaging Group (CPG), announced a new partnership to create compostable bags, film, and roll-stock for the flexible packaging market. Danimer Scientific will supply a home compostable film resin that CPG will convert into made-to-order bags for packaging needs spanning the produce, agriculture, bakery, and medical industries.
"FSSAI has kick-started a campaign for safer and sustainable food packaging. There are materials, which could be considered, like glass, bamboo, compostable plastic, however, according to sources, FSSAI would look into the possibility of allowing such materials for the, purpose of food packaging only after ascertaining their food safety." and "The European Standard lays down criteria for what can or cannot be described as compostable and what can be called biodegradable. These standards are intended to ensure that the materials will break down in industrial composting conditions."
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
** Confirmation on availability of data would be provided prior to purchase
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Compostable Plastic market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Compostable Plastic market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Compostable Plastic Packaging Material Manufacturers, Compostable Plastic Packaging Material International Traders, Compostable Plastic Packaging Material DIstributors and Suppliers, Research and Development Institutes, Potential Investors, Regulatory Bodies and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.