Plastics have become an important part of modern life and are used in different sectors of applications like packaging, building materials, consumer products and much more. Biodegradable plastics are mainly derived from corn, wheat and potato starch. Biodegradable plastics products are thermoplastic materials which are processed with the same machines traditionally used to process conventional plastics. Biodegradable shopping bags are made of polymers that degrade, or decompose, when exposed to air, water, or sunlight. Currently, CU Dining Services is promoting their use of biodegradable bags from Grab-n-Go’s. The bio-plastic sheets are generally made from starch based polymers. The sheets can be processed into plates and glasses using the conventional method.
Bioplastics in India are still at a very nascent stage with only two participants operating in this segment. As compared to the European market, where bioplastic products are commercially available, the Indian bioplastics industry has a long way to go in terms of production, raw materials, and technology. Though there is an increasing interest in the bioplastics in India, factors such as lack of environmental concern, price, and regulation are the key issues affecting the growth of this segment. The global bio plastics market was 19.54 billion USD in 2016 and is estimated to reach US$ 65.58 billion in 2022 at an estimated CAGR of 22.36% for the forecasted period.