Global biodegradable plastic packaging market forecast to reach US$1.85 billion in 2011

According to the new Biodegradable Plastic Packaging Market 2011-2021 report by Visiongain, the global biodegradable plastic packaging market will reach US$1.85 billion in 2011.

Visiongain says the emerging economies, which in total maintained positive growth during the crisis, 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 the factors including consumers' and retailers' 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.

Visiongain adds that technological advancements related to lightweight packaging will further boost the demand in the industry, and key industry players and manufacturers are opting for better materials made from renewable sources for packaging purposes thus keeping them out of the landfills.