Growth of Bioplastics & Biopolymers in Packaging Application
The global bioplastics & biopolymers market is projected to witness a CAGR of 12.0% from 2016 to reach a market size of USD 5.08 Billion by 2021.
The bioplastics & biopolymers market in the packaging industry is projected to witness the highest CAGR between 2016 and 2021. The rising awareness of consumers about sustainable environment and improved lifestyle, which is driving consumers to purchase high quality products, is expected to influence the demand for bioplastics & biopolymers during the forecast period. R&D departments of manufacturers are doing research to widen the application area of bioplastics, which will drive the growth of the bioplastics & biopolymers market.