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Preference for Degradable Bioplastics Enables Strong Foothold for Market Participants
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Bioplastics are manufactured from polymers derived from plants, from animals, or from microbes. Stricter regulations and the policies enforced on industries to reduce carbon footprints are the factors behind the current fast growth of this market. Consumers are also becoming aware of the deleterious effect on environment. Though the majority of bioplastics do not biodegrade, they are still preferred because they are not formulated with petroleum-based polymers. Biodegradable packaging is increasing the focus on sustainability and a preference for degradable bioplastics enables a strong foothold for market participants.
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