The global
bioplastic market is witnessing exponential growth and will continue to capture a greater share of the overall plastic industry y-o-y. According to estimates, bioplastics will control a whopping 40 percent share by 2030, making bioplastics a USD 324 billion-dollar industry, Grand View Research.
Corporations and consumers are becoming conscious of the dangers of
petroleum-based plastics and the advantage of sustainable plastics. Organizations are now employing sustainability officers to incorporate best practices into their manufacturing and procurement processes.
Plastics are an integral part of manufacturing, and investing in Bioplastic means replacing the dated, unsustainable technology with a new one that causes minuscule change to infrastructure while maintaining quality and effectiveness.
Bioplastics are now gaining popularity across multiple industries, thereby helping companies to abide by environmental norms without sacrificing business profitability. Let's now look into the different trending use-case cases of bioplastics in different industry verticals.
Innovating Food and Beverage Segment
Grabbing food and drinks on the go is increasingly popular for people with lifestyles but it also leads to an increased waste generation that needs to be disposed of responsibly. Having stated that, bioplastics are playing a significant role to reduce the waste generation in the F&B segment.
Big players like Coca-cola are taking an early active stance to harness the potential of bioplastics in its operation. The company has launched has partnered with Changchun Miehe Science and Technology and Finnish forestry bioeconomy firm UPM, to help the firm reduce its dependency on oil-based plastic. Coca-cola has even launched its first 100 percent bioplastic-based bottles.
Brazil-based beer brand Cervajaria Colorado is using compostable and recyclable bioplastic cans that are said to lower CO2 emission by 50 percent and electricity consumption by 25 percent.