A new market report from Smithers Pira, The Future of Bioplastics for Packaging to 2024, estimates that packaging applications using bioplastics will grow at an average annual rate of 16.2%, with market value more than doubling from $4.4 billion in 2019 to $8.8 billion in 2024, growing at an average annual rate of 15%. However, notes the report, because bioplastics are rather recent additions to the portfolio of polymers available to manufacturers and users of packaging systems, their share of the plastics packaging market is thus relatively modest, “although forecast growth rates are very attractive.”
According to the report, there are six key trends driving the biopolymers industry today.
Biome Technologies plc is a growth oriented, commercially driven technology group. The Group’s primary activity is the development of its fast growing business in bioplastics. The Group comprises two divisions: Biome Bioplastics and Stanelco RF Technologies.
