Global Biopolymer Market is Likely to Expand at a CAGR of 3.15% over the Forecast period (2016-2024)
According to Goldstein Research, growing demand for biodegradable polymers in packaging industry strengthens the demand for biopolymers across the globe. Biopolymers are naturally derived from plant proteins and starch which can easily be decomposed by simple process in the environment. As sources of petroleum are shrinking, demand for biopolymers is increasing as they are produced from renewable sources. Government initiatives and mandates to limit the manufacturing of plastic polymer based packaging is one of the major factors which are shifting the packaging industry towards the adoption of biopolymers. Global Biopolymer market outlook also includes product development, technological advancements and investment strategies adopted by major market players in order to expand their business across the globe. Further, Vast application of biopolymer in medical industry for controlled drug release and wound management will help the business players to increase the penetration of products ...