Plastic Bag and Sack Market Witnesses Investment in Specialty Bioplastics and Other Biodegradable Options

 

A plastic bag, plastic carrier bag, polybag, or grocery bag is a sort of reusable container usually made of thick, flexible, transparent plastic, non-woven cloth, or sometimes plastic textile. Plastic bags are generally used for carrying and containing goods like food, produce, powder, ice, liquids, and chemicals. Significant growth in the FMCG sector is thus expected to propel growth of the plastic bag and sack market. According to India Brand Equity Foundation, FMCG market in India is expected to grow at a CAGR of 27.86 per cent and is expected to reach US$ 103.70 billion by 2020 from US$ 52.75 billion in FY18.

Specialty bioplastics are a new trend in plastic bag and sack market. In October 2020, researchers from JAIST and U-Tokyo University reported development of white biotechnological conversion of cellulosic biomass to aromatic polymers with highest thermal degradation of all plastics.

Plastic bag and sacks are very popular form of packaging used today. However, it has become very important to reduce the negative environmental impact of packaging by using sustainable packaging solutions. Such scenario is expected to hinder growth of the plastic bag and sack market. In 2018, Avon (U.S) banned plastic bags from all retailers, with the purpose to protect the public health, safety and welfare from pollution-related to plastic bags. The problem is that the natural resources of our planet are being depleted at an alarming rate. Some experts believe that plastic bags have an even greater environmental impact than other types of paper carrier bags.

Limitations on the use of plastic bags is also expected to limit growth of the plastic bag and sack market. Various organizations and countries are collaborating to reduce the amount of plastic waste that is littered into the environment. Japan and the United Nations Industrial Development Organization are at the forefront in funding such initiatives. In March 2021, The Egyptian Ministry of Environment announced a new three-year project valued at US$3 million which will aim to eliminate single-use plastic bags in Egypt.

However, various governments are still supporting use of bioplastics, which has prompted R&D in processes for producing bioplastics. In October 2020, The EU-funded REFUCOAT project reported development of a new set of processes for producing bioplastics for food packaging. The team used bioplastics that include, polyhydroxyalkanoates (PHA) and polyglycolic acid (PGA) to develop three different bio-based active packaging systems. Players in the plastic bag and sack market can thus focus on investment in bioplastics to enhance their market share.