Bioplastics market to grow at 32% annual rate through 2014, says Technavio

October 3, 2011 |

In London, Technavio in a recent report states that the global bioplastics market is expected to grow at a CAGR of 32 percent over the period 2010-2014. The report, which covers the Americas as well as the EMEA and APAC regions, indicates that the market is being driven by the favorable policies adopted by various governments.

According to Technavio’s industry analyst, “… governments of various countries have been encouraging production of bioplastics. The US Government has introduced the Federal Farm Bill Energy title 9, which urges Federal Agencies to buy bioplastic items. Also, the Kyoto Protocol has been established where member countries have agreed to reduce CO2 emission by adopting various measures, including bioplastics.”

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