India Bio plastics Market is segmented by product and by application. Based on product, India bio-plastics market is segmented into biodegradable plastic and non-biodegradable plastic. Rigid packaging, flexible packaging, textile, agriculture & horticulture, consumer good, automotive, electronic, building & construction and others are application segments of India bio-plastics market is expected to grow at 28 % CAGR during the forecast.
Increasing eco-awareness among consumers, mandates & regulations, corporates becoming more focused on sustainability, technology stabilization and cost reduction are factors driving the India bio-plastics market. Substitute and lack of awareness are restraining the market growth. Costly price than conventional plastics and evolving upstream technology poses a challenge to the market.
Non-biodegradable plastics is leading the India bio-plastic market.
Bio-based Polyethylene (PE) and bio-based polyethylene terephthalate (PET) are non-biodegradable plastics and are the main drivers of non-biodegradable growth. Production revenue of biodegradable plastics, such as polylactic acid or polylactide (PLA), Polyhydroxyalkanoates (PHA), and starch blends is growing steady rate. Increasing application of polyethylene and polyethylene terephthalate in packaging is propelling the non-biodegradable plastic.
Packaging segment is expected to account for almost 60 % of the overall market share.
Packaging segment is dominant segment in the India bio-plastics market. Bio-plastics are extensively used in the manufacturing of bottles, loose-fill, cups, pots, blows, flexible films, and other products. Rigid and flexible packaging is two most common types of bio-plastics packaging. Packaging finished product from bio-plastics are used in the packing fresh food, dry snacks, candy, bakery goods, juice bottles, and meat trays as well as coatings for beverage cups, films, and card stock.
This report includes a study of marketing and development strategies, along with the Form portfolios of leading companies. It includes the profiles of leading manufacturers such as Envigreen, Ecolife, Plastobags, Earthsoul India and Truegreen.
Maximize market research, a global market research firm with dedicated team of specialists and data has carried out extensive research about the India bio-plastic market. Report encompasses the market by different segments and region, providing the in-depth analysis of overall industry ecosystem, useful for taking informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the India bio-plastic market. The driving forces as well as considerable restraints have been explained in depth. In addition to this, competitive landscape describing about the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain India bio-plastic market positioning of competitors.
Browse the market data Tables and Figures spread through a comprehensive research report and in-depth TOC on “India Bio-plastic Market”.
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