Bioplastics & Biopolymers Market Overview and Analysis:
The global bioplastics and biopolymers market is currently valued at USD 11.5 billion in the year 2022 and is expected to register a CAGR of 21.2% over the forecast period, 2023-2030.
Bioplastics and biopolymers have emerged as a pivotal segment within the global plastics and polymers industry. With increasing environmental concerns and a growing emphasis on sustainability, the market for bioplastics and biopolymers has witnessed significant growth in recent years.
The market for bioplastics and biopolymers is primarily driven by rising demand for plastic convenience and quality food products, rising urban population, which increases food adoption, rising consumption of processed or stored food and packaged food for consumers around the world, and growing disposable income of eatable.
Bioplastics & Biopolymers Market Latest Trends:
With growing concern about plastic pollution in oceans, there is a focus on developing bioplastics that are not only biodegradable but also marine-degradable. These materials break down in seawater without causing harm to aquatic ecosystems. Moreover, companies are working on developing high-performance engineering plastics, including bio-based versions of materials like polyamides and polyesters. These materials are finding applications in the automotive and electronics industries where durability and performance are critical.
Market Segmentation:
Bioplastics & Biopolymers Market
By Type :
- Biodegradable
- Non-Biodegradable
- Others
By End-Use Industry :
- Packaging
- Consumer Good
- Automotive
- Transportation
- Textile
- Agriculture
- Others
Geography
- North America
- Europe
- Asia-Pacific
- South America
- Middle-East
- Africa
The report offers the market sizes and forecasts in value (USD million) for all the above segments.
Drivers :
Shift in Consumer Behaviours Toward Bio-based Plastics
Consumers are increasingly concerned about the environmental impact of single-use plastics, especially in terms of ocean pollution, landfill overflow, and wildlife harm. The shift in consumer behaviors toward bio-based plastics and the use of bioplastics is a significant and ongoing trend driven by growing environmental awareness and sustainability concerns. Moreover, positive reviews and endorsements from influencers and environmental activists can significantly impact consumer behavior. Many consumers rely on these reviews when choosing sustainable products. Thus, the market is expected to witness significant growth over the forecast period.
The Introduction of New Bioplastics and Biopolymers Product Developments
The introduction of new bioplastics and biopolymers product developments creates a prodigious opportunity to market. With the help of new technology, these product developments can be used in many industries and sectors. They are not only eco-friendly but also have the potential to replace traditional plastics and polymers. This can help in reducing the overall environmental impact of the manufacturing process.
Restraints :
High Investments and Stringent Regulations
Many governments have implemented regulations and incentives to promote the use of biopolymers. These regulations often include bans on single-use plastics, tax incentives, subsidies, and research grants, which encourage investment in biopolymer research and production, which may require a longer time for approval and implementation, which may slow down the growth of the studied market. Moreover, high investment in the biopolymer market is a reflection of the growing interest and confidence in the potential of biopolymers, which are a sustainable and environmentally friendly alternative to conventional petroleum-based plastics. Thus, this may slow down the growth of the studied market over the forecast period.
COVID-19 Impact on Bioplastics & Biopolymers Market
The pandemic heightened awareness of the environmental impact of plastics, leading to a surge in demand for sustainable and biodegradable packaging materials. Biopolymers, such as polylactic acid (PLA) and polyhydroxyalkanoates (PHA), benefited from this trend as they are biodegradable and can replace conventional plastics in packaging applications. Moreover, an article published by the Ministry of India in April 2021, reported that some governments and municipalities introduced regulations and incentives to reduce single-use plastics during the pandemic. These measures encouraged the use of biopolymers for items like disposable cutlery and food containers. Thus, in the current scenario, due to the benefit offered by biopolymers, the market is expected to witness significant growth over the forecast period.
Segmental Analysis :
Bio-based Polyethylene Biodegradable Polymer is Expected to Witness Significant Growth Over the Forecast Period
Bio-based polyethylene is chemically similar to traditional polyethylene, but it is derived from renewable sources. It can be used as the base material for biodegradable products. Bio-based polyethylene-based biodegradable materials are part of a broader effort to reduce plastic waste and promote sustainability in various industries. These materials have gained prominence as an eco-friendly alternative, especially in applications where single-use and short-term use is common. Their adoption can contribute to a more environmentally responsible approach to plastic usage. Thus, owing to such advantages, the segment is expected to witness significant growth over the forecast period.
The Sugarcane Segment is Expected to Witness Significant Growth Over the Forecast Period
Sugarcane cultivation supports the livelihoods of many agricultural communities worldwide. It provides income and employment opportunities, especially in tropical and subtropical regions where sugarcane is grown. Utilizing sugarcane as a raw material for biodegradable polymers promotes resource efficiency by reducing waste and encouraging circular economy principles. Moreover, sugarcane-based polymers reduce the dependence on fossil fuels because they are derived from renewable plant sources. This is vital for sustainability and reducing carbon emissions. Thus, due to such advancement, the segment is expected to witness significant growth over the forecast period.
North America is Expected to Witness Significant Growth Over the Forecast Period
The increasing use of biodegradable polymers in North America is part of a broader global trend toward more sustainable and eco-friendly materials, driven by environmental awareness, regulatory changes, and consumer preferences. This trend is expected to continue and expand as more businesses and industries recognize the benefits of adopting biodegradable polymer solutions.
Moreover, North America is home to numerous research and development efforts aimed at improving the performance and properties of biodegradable polymers. This helps expand the range of applications for these materials. Thus, the region is expected to witness significant growth over the forecast period.
Bioplastics & Biopolymers Market Competitive Landscape:
The market comprises tier-1, tier-2, and local players. With their wide product portfolios, tier-1 and tier-2 players have a global reach. As for their strategic innovations and broad regional presence, companies such as BASF, Kaneka Corporation, Mitsubishi Chemical Corporation, and United Biopolymers lead the global Biopolymers and bioplastics business. To increase their market position and attract a wide consumer base, the businesses are employing various strategies, such as growth, product releases, and alliances.
Key Players :
- BASF SE
- Arkema
- Braskem
- Biome Bioplastics Limited
- Covestro
- Kaneka Corporation
- Mitsubishi Chemical Corporation
- United Biopolymers
- NatureWorks Inc
- Plantic Technologies Limited
Recent Developments:
1) In April 2021, NatureWorks reported another essential organization with IMA Coffee, which is a market chief in espresso taking care of handling and packaging. This organization targets expanding the market go after high-performing compostable K-cup in North America.
2) In August 2019, Braskem and Ledesma (Argentina), maker of regular agro-industrial items, have teamed up to convey Ledesma + Bio, which is a line of 100 percent sustainable journals made completely of sugarcane. Such drives are supposed to take special care of the requirements of the bioplastics and biopolymers market.
Frequently Asked Questions (FAQ) :
Q1. What is the current Bioplastics & Biopolymers Market size?
The global bioplastics and biopolymers market is currently valued at USD 11.5 billion.
Q2. What is the Growth Rate of the Bioplastics & Biopolymers Market?
Bioplastics & Biopolymers Market is expected to register a CAGR of 21.2% over the forecast period.
Q3. What are the factors driving the Bioplastics & Biopolymers Market?
Key factors that are driving the growth include the Shift in Consumer Behaviours Toward Bio-based Plastics.
Q4. What segments are covered in the Bioplastics & Biopolymers Market ?
By Type, By End User and Geography are the segments covered in the Bioplastics & Biopolymers Market.
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Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
