Bioplastics & Biopolymers Market Size, Share, Growth Report 2032

Industry Prospective:

The global Bioplastics & Biopolymers Market was worth around USD 10.59 billion in 2021 and is estimated to grow to about USD 34.75 billion by 2028, with a compound annual growth rate (CAGR) of approximately 21.90 percent over the forecast period. The report analyzes the Bioplastics & Biopolymers market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the Bioplastics & Biopolymers market.

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Bioplastics & Biopolymers Market: Overview

The market for bioplastics and biopolymers has expanded due to stringent government regulations mandating businesses to reduce their carbon footprint, which has increased demand for bio-based products in the industry. Automobiles, the building industry, and the packaging industry are the market's primary sectors. The Bioplastics & Biopolymers industry varies in size and responsibilities among countries. In many regions, the target market is highly fragmented. In addition, the Bioplastics and Biopolymers Market is becoming increasingly commercial. Because of the increased demand for Bioplastics and Biopolymers, the global Bioplastics and Biopolymers Market is expected to develop at a CAGR of 21.90% during the forecast period.

COVID-19 Impact:

Bioplastics and biopolymers are used in various industries, including packaging, consumer products, automotive & transportation, textiles, agriculture & horticulture, and agriculture & horticulture. However, due to the ongoing pandemic, industries worldwide have been affected. Workforce shortages, logistical constraints, material scarcity, and other constraints had hindered the industry's expansion in the previous year. Because of the advent of the Covid-19 pandemic and its steady spread, companies that provide critical requirements, such as delivering food and supplies safely to consumers, are being increasingly impacted. The global impact has resulted in a substantial decrease in demand for certain forms of packaging that are deemed non-essential.

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Bioplastics & Biopolymers Market: Growth Drivers

Consumer preferences shifting toward eco-friendly plastic products.

Consumer awareness of sustainable plastic alternatives and widespread initiatives to eliminate the use of non-biodegradable conventional plastics are driving the growth of the bioplastics market. Traditional plastics, typically petroleum-based, take decades to break down or degrade and can be found in landfills for an extended period. When biodegradable plastics are discarded, they degrade faster and are incorporated back into the natural system. Furthermore, the degradation rate of biodegradable plastics by microbial activity is substantially faster than that of regular plastics.

Bioplastics & Biopolymers Market: Restraints

Price difference between bioplastics than conventional plastics

The greater cost of bioplastics over standard polymers limits market expansion in several application categories. PHAs have a wide range of applications, including binders, synthetic papers, medical devices, electronic parts, food packaging, and agriculture, however they have high production costs, low yields, and restricted availability. PLAs are more expensive than petroleum-based PE and PP, although having a lower production cost than PHAs. Bio-based materials are still in the early stages of development. They have not yet reached the same level of commercialization as their petrochemical counterparts, which have been developing fast for more than 50 years.

Bioplastics & Biopolymers Market: Segmentation

The global Bioplastics & Biopolymers market is segregated based on type, end users and region.

By type, the biopolymers & bioplastics market has been segmented into biodegradable and non-biodegradable (biobased). Due to the increased reliance of businesses and consumers on environmentally friendly solutions to satisfy their daily needs, the biodegradable category is expected to grow rapidly in the future years.

Based on the end-use industry type, the market is segmented as packaging, consumer products, automotive & transportation, textiles, agricultural & horticulture, and others. Because of the increasing desire to replace conventional plastics in the packaging industry to address environmental concerns, the packaging industry is likely to hold the most significant share of the market throughout the projection period.

By region, the Bioplastics & Biopolymers market is segmented into APAC, Europe, North America, and the Rest of the World (ROW).

Global Bioplastics & Biopolymers Market: Report Scope:

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Regional Landscape

APAC is the quickest bioplastics and biopolymer market, owing to growing consumer demand for sustainable and environment friendly plastic products and the region's rapidly growing population. Rising consumer spending power has fostered the expansion of many end-use industries in this region. During the forecast period, these factors are likely to boost demand for bioplastics and biopolymers in the region.

In terms of value, Europe is expected to be the largest market for bioplastics and biopolymers. Germany, Italy, France, Spain, and the United Kingdom are the leading countries in the European bioplastics and biopolymers market. Because of heightened environmental concerns and the enforcement of severe legislation prohibiting the use of petroleum-based plastics, the country's demand for bioplastics and biopolymers is constantly increasing.

Competitive Landscape

Some of the main competitors dominating the global Bioplastics & Biopolymers Market include - NatureWorks (US), Braskem (Brazil), BASF (Germany), Total Corbion (Netherlands), Novamont (Italy), Biome Bioplastics (UK), Mitsubishi Chemical Holding Corporation (Japan), Biotec (Germany), Toray Industries (Japan), and Plantic Technologies (Australia).

Bioplastics & Biopolymers market is segmented as follows:

By Type

• Biodegradable
  • PLA
  • Starch Blends
  • PHA
  • PBS
  • Others
  • PCL
  • PBAT
• Non-Biodegradable/Biobased
  • BIO-PET
  • BIO-PABIO-PE
  • BIO-PTT
  • Others
  • BIO-PP
  • BIO-PEF

By End Use Industry

• Packaging
  • Rigid Packaging
  • Flexible Packaging
• Consumer Goods
  • Electrical Appliances
  • Domestic Appliances
  • Others
• Automotive & Transportation
  • Interior
  • Exterior
  • Under Hood
• Textiles
  • Medical & Healthcare Textile
  • Personal care, clothes, and other textiles
• Agriculture & Horticulture
  • Tapes & Mulch Films
  • Others
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa