Biodegradable plastic packaging market within the cosmetics industry to be worth US$160Mn by the end of 2018
The Biodegradable Plastic Packaging Market 2013-2023 - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-03-19 00:46:03
The global biodegradable plastic packaging market is forecast to total revenues of US$2.38 billion in 2014. The recent ´green´ movement for a sustainable earth has caused a market shift in most consumer industries; the plastic packaging market is no different. Demand has been fuelled by increasing consumer demand backed by government initiatives, worldwide environmental awareness, increasing price and decreasing long-term availability of fossil resources, and finally waste management which is a major concern for all nations due to diminishing landfill space.The biodegradable plastic packaging market is niche; however, opportunities that remain to be captured are extraordinary. With significant financial investments being made, a growing number of new applications, product conceptions, and production processes will emerge as the number of manufacturers, converters and end-users increase steadily. We will also witness a key trend where there will be a shift in production of biodegradable plastics from North America and Europe to Latin America and the Asia-Pacific, who are poised to be winners due to the locally available feedstocks such as starch, corn and cassava.
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