Global Bioplastics Market Size study & Forecast, by Product (Biodegradable, Non-biodegradable) by Application (Packaging, Agriculture, Consumer goods, Textile, Automotive & Transportation, Building & Construction, Others) and Regional Analysis, 2023-2030

Global Bioplastics Market Size study & Forecast, by Product (Biodegradable, Non-biodegradable) by Application (Packaging, Agriculture, Consumer goods, Textile, Automotive & Transportation, Building & Construction, Others) and Regional Analysis, 2023-2030

Global Bioplastics Market is valued approximately at USD 11.53 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 18.72% over the forecast period 2023-2030. Bioplastics are a type of biodegradable plastics derived from renewable biomass sources, such as corn starch, sugarcane, or cellulose. Unlike traditional plastics, which are made from petroleum-based materials, bioplastics are considered more environmentally friendly because they are derived from renewable resources and can be biodegraded, composted, or recycled.

Demand for bioplastics is anticipated to rise during the projected period as a consequence of end-use industries benefiting from rising health-related awareness and population growth in Asia Pacific's growing regions. Large firms like NatureWorks LLC, Total Corbion PLA, BASF SE, Biome Technologies plc, and PTT MCC Biochem Co., Ltd., as well as a few small and medium-sized global and regional organisationsorganizations, make up the fairly concentrated market. The increased need for bio-based packaging across a range of industries, including consumer products and food & beverage, is anticipated to drive considerable growth in the U.S. bioplastics market throughout the forecast period. Bio-based plastics and bags are environmentally benign and have a higher tensile strength, among other benefits. As a result, it is anticipated that demand for bioplastics will continue to rise during the projection period. Additionally, during the forecast period, it is expected that the demand for bio-based or compostable bags used in the collection of food leftovers and other organic waste material will increase due to growing composting infrastructure and increased government efforts to reduce landfilling, such as the U.S. 2030 Food Loss and Waste Reduction Goal. However, the pPrice competitiveness of bioplastics over conventional plastics stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Bioplastics Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Europe had the largest revenue share in the global market in 2023. Bioplastics are widely employed in many important applications, including loose packaging, bottles, shopping bags, refuge bags, and mulch films for agriculture. In the European Union, almost 100 billion bags are used annually. In All around Europe, bioplastics are becoming more and more acceptable to the consumers. The growing use of bioplastics in important end-use sectors, including consumer products, packaging, textiles, automotive & transportation, and medical devices, is also expected to propel the market. Asia Ppacific is expected to witness Fastest growth rate higher growth rate during the forecast pe riod. The drive for sustainability in the regional sector has resulted in a significant demand for packaging sustainability.

Major market player included in this report are:
TEIJIN LIMITED
TORAY INDUSTRIES, INC.
Toyota Tsusho Corporation
Avantium NV
PTT MCC Biochem Co., Ltd.
An Phat Holdings
NatureWorks LLC
Saudi Basic Industries Corporation (SABIC)
BASF SE
Futerro SA

Recent Developments in the Market:
 In January 2023, Arkema announced to present the bio-circular material at the Milan MIDO exhibition. During the event, the group hopes to introduce a number of new biobased and repurposed products. These materials, which are utilisedutilized to create imaginative, indestructible, and stylish eyewear with natural or mineral fillers, include Unique Pebax Rnew elastomer grades and Rilsan polyamide 11 grades.
 In April 2023, Ingeo 6500D, a novel biopolymer-based product, was introduced by NatureWorksLLC. It is anticipated that the product will provide ways to improve the softness and robustness of bio-based nonwovens used in hygiene applications.

Global Bioplastics Market Report Scope:
 Historical Data – 2020 - 2021
 Base Year for Estimation – 2022
 Forecast period - 2023-2030
 Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
 Segments Covered - Product, Application, Region
 Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Product:
Biodegradable
Non-biodegradable

By Application:
Packaging
Agriculture
Consumer goods
Textile
Automotive & Transportation
Building & Construction
Others

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

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