According to The Global Outlook for Biodegradable Packaging, due to rising oil prices and the depletion of fossil fuels there will be an increased interest in the use of plant-based polymers. These drivers are expected to push global demand for biodegradable or plant based plastics, causing the market for these products to quadruple by 2013.
Researchers have noted that currently, bio plastics account for less than ten percent of global plastics use, and the sector faces increasing regulation and competition as large corporation move in on the industry. Furthermore, the study also noted that sector growth is around seventeen to twenty percent since 2006.
The report provided an overview of the biodegradable packaging market in Europe, the United States and Asia-Pacific, and provides in-depth analysis of the leading players and cutting-edge technology that will propel the industry forward. Additionally, the article provides a comprehensive outline of the regulatory and legislative framework in Europe, the United States and Asia-Pacific, and lastly outlines the key cost factors inhibiting development of biodegradable packaging, explores the future of the biodegradable packaging market, and the types of product are best placed to benefit from expansion.
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