Cereplast, Inc., a pioneer in the manufacture of plastics which derive largely from resins based on plant starches, released news announcing projections for its market sector.
Expecting a ten-fold sales increase in the U.S. bio-plastics market by 2020, the Company cited the $1B sales figures from 2007 and estimates which show that, within ten years, bio-plastics could represent up to an astonishing 30% of the total plastics market.
With the Obama administration leaning heavily toward a green economy and increasing demand from consumers for biodegradable products, Cereplast is poised to cash in on the “green” economy and return substantial value to its investors. Through its proprietary technology and manufacturing know how, Cereplast is ready to capture the explosive growth of this sector, with offerings like Cereplast Compostables® and Cereplast Hybrids®, which are certified compostable in the U.S. and Europe.
CEO and founder of Cereplast, Frederic Scheer, spoke of their breakthrough products saying they enable “manufacturers to make the switch to environmentally responsible, sustainable packaging”. Scheer went on to say that, “Our algae-based bio-plastics, currently under development, will soon open up a whole new source of feedstock and result in a broad range of new applications.”
A Helmut Kaiser Consultancy study in 2006 indicated that, by 2025, Europe, the U.S. and Asia would account for 31%, 28% and 32% of the total bio-plastics market, respectively. Because consumer demand leads the way in driving the bio-plastics market, even over technical innovations and advances in related markets like automotive or consumer electronics, Cereplast knows the importance of establishing itself as a high-profile company.
Cereplast resins are uniquely suited to a variety of applications, including food service. Simply by continuing to move its resins and products foreword in this field, Cereplast is able to obtain a foothold in consumer’s minds through continuous, direct exposure to consumers.
Scheer spoke directly to this environmentally conscious push by consumers, which is forcing industry to make the switch, saying: “Many of the largest retailers have already made in-roads with programs designed to adopt alternative packaging, including Wal-Mart and Coca-Cola”.