Global Bioplastics & Biopolymers Market Research Report 2023

Global Bioplastics & Biopolymers Market

The global Bioplastics & Biopolymers market is projected to grow from US$ 3857 million in 2023 to US$ 4713.9 million by 2029, at a Compound Annual Growth Rate (CAGR) of 3.4% during the forecast period. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.

Bioplastics and biopolymers are widely used in the packaging sector. This factor is expected to drive the growth of the Bioplastics and biopolymers market. 

The biopolymers are utilized in packaging, emulsions, drug delivery, packaging for the medical and healthcare industries, and personal care products. Applications for bioplastics include packaging, dishes, cutlery, pots, bowls, and straws. One of the key factors boosting demand for the bioplastics and biopolymers market is the growing desire to replace and lessen reliance on fossil fuels.

Bioplastics & Biopolymers Market Trends

The bioplastics and biopolymers market is primarily driven by rising consumer demand for plastic convenience and high-quality food products, rising urban population, which increases food adoption, rising processed or stored food and packaged food consumption for consumers globally, rising disposable income of eatable food, and multifunctionality of packaging. Packaging is one of the end-use sectors that dominate the bioplastics and biopolymers industry. Due to environmental concerns, bioplastics, especially biodegradable bioplastics, are gaining popularity as alternatives to traditional plastics. Bottles, films, clamshell cartons, garbage collection bags, carrying bags, mulch films, and food service containers are all becoming more and more often made of bioplastics. 

Additionally, the bioplastics and biopolymers market is anticipated to expand as a result of increased packaged food demand, advancements in bioplastic packaging, growing consumer health concerns, and expanding spending power among owners of packaged food businesses on durable goods for the food industry. During the projection period, producers in the global market should benefit from shifting consumer lifestyles in developed nations, expanding pharmaceutical, food, and other industries, and the advent of new product developments in bioplastics and biopolymers goods.

The main factor fueling the growth of the bioplastics and biopolymers market is the growing usage of biopolymers in the automotive and construction industries. The market for bioplastics and biopolymers is anticipated to grow as a result of rising customer preference for environmentally friendly plastic products, increased waste management regulations in Europe, and government emphasis on green procurement policies and regulations. However, the market for bioplastics and biopolymers is constrained by high prices for bioplastics compared to conventional plastics and concerns with performance, while fluctuating oil prices and limited regulations for bioplastics in poorer nations may hinder market expansion.

Bioplastics & Biopolymers Market Share Analysis

Due to the widespread use of bioplastics across a variety of end-user sectors, North America currently dominates the bioplastics and biopolymers market and will maintain this dominance over the projection period. However, due to the region's governments' rigorous rules regarding the use of limited resources, Asia-Pacific will still be predicted to have the highest CAGR for this time period.

NatureWorks, Braskem, Arkema, Novamont, BASF and Kingfa are the main players in this industry. Among them, NatureWorks is the leader in the global market, and it accounted for 13% of the global revenue market share in 2019.

Production areas include North America, Europe, China and Japan. In 2019, the global Bioplastics and Biopolymers market is led by Europe with nearly 47%. USA is the second-largest region-wise market with about 24%.

In terms of product types, there are Starch Blends, PLA, Bio-PE, PBAT and Bio-PET. Starch Blends is the largest segment with a market share of nearly 28%, followed by PLA with 19%.

Bioplastics and biopolymers can be used in packing industry, consumer products, agriculture & horticulture, automotive industry. The packing industry accounted for about 56 per cent of the global market in 2019.

Key Segmentations

By Company

Segment by Materials

Segment by Application

Production by Region

Consumption by Region

Core Chapters

Scope of Global Bioplastics & Biopolymers Market Report