If you are placing a long-term bet on bioplastics' use in packaging, then place your marker on plastics based on renewable and sustainable materials, and not those whose sustainability stems from their biodegradability or compostability. That's among the conclusions highlighted in a report that examines the bioplastics market and makes predictions for its growth out to 2020.
According report, entitled The Future of Bioplastics for Packaging to 2020: Global Market Forecasts and available from Pira International, global demand for bioplastic packaging is forecast to reach 884,000 tonnes by 2020. This translates to a compound annual growth rate of 24.9% from 2010-15 slowing to a CAGR of 18.3% in the five years to 2020. According to the study, a new breed of bioplastics will be major drivers as packaging market demand gradually shifts from biodegradable and compostable polymers towards biopackaging based on renewable and sustainable materials...