The Business Research Company’s report on the Bioplastics Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
How are market drivers shaping the future growth trajectory of the bioplastics industry?
Increasing awareness about the importance of bioplastics is expected to drive the market going forward. Globally, there has been increasing awareness regarding the adverse effects of pollution caused by plastics manufacturing and disposal. According to a study by Pew Charitable Trusts and SYSTEMIQ, Ltd., the amount of plastic trash that flows into the oceans every year is expected to nearly triple by 2040 to 29 million metric tons, if left unchecked. All this contributes to the increasing pollution levels and making it necessary for customers to focus on sustainability. For instance, in 2022, according to the Ipsos Global Survey on Attitudes towards Single Use Plastics, at least 8 in 10 urban Indians accounting for 83% said they would like a complete ban on the usage of single use plastics (SUP). Thus, increasing awareness will encourage customers towards bioplastics, and will drive the bioplastics market.
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What is the estimated market size of the bioplastics sector by 2029, based on current forecasts?
The bioplastics market size has grown rapidly in recent years. It will grow from $10.84 billion in 2024 to $12.79 billion in 2025 at a compound annual growth rate (CAGR) of 18.0%. The growth in the historic period can be attributed to environmental concerns, government regulations, rise in oil prices, changing consumer preferences for eco-friendly products, increased demand for sustainable packaging.
The bioplastics market size is expected to see rapid growth in the next few years. It will grow to $24.11 billion in 2029 at a compound annual growth rate (CAGR) of 17.2%. The growth in the forecast period can be attributed to rising food and beverage insustry, growing automotive sector, global trade agreements, expansion in emerging markets. Major trends in the forecast period include advanced feedstock sourcing, bio-based materials for durables, industry collaboration, carbon neutrality focus.
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Who are the top players in the bioplastics market?
Major companies operating in the bioplastics market include BASF SE, Corbion NV, Danimer Scientific Inc., Mitsubishi Chemical Holdings Corporation, Novamont S.p.A., Eastman Chemical Company, Futamura Group, Neste Oyj, NatureWorks LLC, Polymateria Ltd, TIPA Corp Ltd, Biome Bioplastics Limited, Braskem S.A., Indorama Ventures Public Company Limited, Teijin Limited, Toray Industries Inc., Toyota Tsusho Corporation, PTT MCC Biochem Co Ltd., An Phat Holdings Joint Stock Company, Saudi Basic Industries Corporation, Futerro SA, Trinseo S.A., Solvay SA, Trifilon AB, Biofase S.A. de C.V., Bioapply Polymers S.L., LyondellBasell Industries N.V., Avantium N.V., LCY Biosciences Inc., Kaneka Takasago Ltd.
What are the major trends in the bioplastics market?
Companies in the market are focusing on increasing investment in environment-friendly bioplastics. Bioplastics are prepared from biodegradable and renewable resources such as proteins, starch, and polylactic acid (PLA). The number of available products and suppliers has increased in recent years leading to increase use of bioplastics in commercial markets across the globe. For example, in January 2022, Vikas Ecotech Limited plans to invest in the environment-friendly BioPlastics (PHA) technology and in the advance stage of finalizing a Technology Tie-Up/Joint Venture with Aurapha Private Ltd. (the ‘AuraPHA’) to produce Biodegradable Plastics.
Which geography holds the highest bioplastics market share?
Asia-Pacific was the largest region in the bioplastics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the bioplastics market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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How do different segments contribute to the overall expansion of the bioplastics market?
The bioplastics market covered in this report is segmented –
1) By Type: Biodegradable, Non-Biodegradable
2) By Distribution Channel: Online, Offline
3) By Application: Rigid Packaging, Flexible Packaging, Textile, Agriculture And Horticulture, Consumer Goods, Automotive, Electronics, Building And Construction, Other Applications
Subsegments:
1) By Biodegradable: Starch-Based Bioplastics, Polylactic Acid (PLA), Polyhydroxyalkanoates (PHA), Cellulose-Based Bioplastics
2) By Non-Biodegradable: Bio-Based Polyethylene (Bio-PE), Bio-Based Polyethylene Terephthalate (Bio-PET), Bio-Based Polypropylene (Bio-PP), Bio-Based Nylon
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How is the bioplastics market defined, and what are its core characteristics?
The bioplastics are used to reduce the pollution problem of plastic waste which suffocates the planet and polluting the environment. Bioplastics are a type of plastic produced from natural or renewable resources such as vegetable oils, starch, sugarcane, corn, and microbes like yeast. Bioplastics are sustainable, largely biodegradable, and biocompatible. Bioplastics play a crucial role in various industrial applications such as food packaging, agriculture, horticulture, composting bags, hygiene, and others.
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