Global Bioplastics Market size will reach US$ 17.58 Billion by 2030, according to the report. Every year, the world witnesses the production of over 330 million tons of plastic, primarily consumed by the packaging, construction, automotive and household appliance industries. The bulk of these polymers are non-biodegradable, which causes environmental issues due to solid waste accumulation. Bioplastics made from renewable sources such as maize, sugarcane, and cellulose has good biodegradability and may be a viable solution to environmental challenges.Global Bioplastics Market was valued at US$ 7.41 Billion in 2022
Bioplastics are long-lasting polymers made from renewable natural resources that can be used to replace petroleum-based plastics. They have the potential to reduce carbon dioxide emissions by thirty to seventy percent while also lowering carbon footprints by 42%. Notably, bioplastics production requires 65% less energy compared to traditional petroleum plastics. The global bioplastics market growth is evolving, with competitors prioritizing research and development activities, leading to expanded production capacity.
With their remarkable technological qualities and capabilities, bioplastics have received rapid acceptance across a wide range of applications. Thanks to favorable rules adopted by several nations throughout the world, the global bioplastics business has seen tremendous growth in numerous plastic industries. Several reasons drive the bioplastics market, including its eco-friendliness, increased consumer acceptance of bio-based items, legislation favoring biodegradable containers, and the availability of renewable energy sources for bioplastics manufacture. Bioplastic manufacturing is an energy-efficient process that consumes 66% less energy than regular plastic. Bioplastics are non-toxic, disintegrate swiftly, and emit few greenhouse gas emissions throughout the breakdown process, making them environmentally beneficial.
Global bioplastics market will register a CAGR of 11.40% from 2022 to 2030
Bioplastics help to reduce carbon footprints by around 42%. As a result, industry titans such as Coca-Cola, Nestle, Ford, and Nike have invested in the development of bioplastic materials for a number of applications, including plastic bottles and vehicle components. Bioplastics are becoming increasingly used in the catering, packaging, agricultural, and automotive industries. They are especially useful in organic agriculture, where biodegradable mulching films are used in agriculture and horticulture. Bioplastics are chosen over synthetic plastics for packaging materials since they are food-safe and do not degrade.Governments all over the globe are passing favorable legislation and regulations to encourage bioplastics' resilience and degradability, with the European Union playing a key role as a political booster of the bioplastics business. The Intergovernmental Panel on Climate Change (IPCC) has set a trajectory for 2050 to stabilize atmospheric greenhouse gas (GHG) concentrations at 450 ppm CO2, requiring an 80% reduction in emissions compared to 1990 levels. Attaining this lofty aim is regarded as one of the most difficult problems facing the future generation. Many nations have set significant GHG emission reduction objectives, and one essential component of their approach is the development of a bio-based economy. The OECD's bio-based economy model integrates renewable biological resources, bioprocesses, and industrial-scale biotechnologies to manufacture sustainable goods, generate employment, and stimulate economic growth. The global bioplastics market was valued at US$ 7.41 Billion in 2022.
Biodegradable plastics segment emerged as the leading revenue generator and is expected to witness substantial growth in the forecast period
The global bioplastics market is divided into two material types: biodegradable plastic and non-biodegradable plastic. There is a rising industry trend toward bio-based goods to lessen dependency on traditional plastics. Polylactic acid, starch blends, PBS, PHA, polycaprolactone, PBAT, and cellulose acetate are all examples of biodegradable polymers. Government measures focused at reducing the use of single-use plastics have boosted the usage of biodegradable polymers in a variety of industries. The instability of crude oil prices, a significant raw ingredient for traditional plastics, has encouraged manufacturers to shift production of biodegradable plastics to plant-based resources such as maize, potato, and wheat starch. This tendency leads to the global market expansion of the biodegradable plastic growth.
Non-biodegradable polymers include polyamide, polyethylene, polypropylene, polyethylene terephthalate, polytrimethylene terephthalate, polyethylene furanoate, and polyvinyl chloride. These polymers are made from renewable resources such as sugarcane, maize, and castor oil. Non-biodegradable bioplastics are widely used in a variety of industries, including disposables, food packaging, bottle, carry bags, shopping bags, films, consumer goods, electronics, and vehicle interiors. The segment expansion is being supported by rising end-user demand and the increased emphasis of key companies on sustainable goods to lessen dependency on petroleum-based alternatives. These elements are projected to fuel segment expansion in the near future.
Packaging application dominated the market in the global bioplastics industry
By Application, the global bioplastics market is divided into Packaging, Agriculture, Consumer goods, textiles, automotive and transportation, building and construction, and others. Bioplastics have found extensive utilization in packaging, including personal care, films and sheets, food and beverage, and household care products, among others. Starch blends, PLA, PBAT, PET, PE, and PBS are prominent bioplastics employed in packaging applications. The growing consumer preference for sustainable packaging, coupled with the escalating landfill issue worldwide, has propelled the adoption of bioplastics in packaging.Bioplastics offer protective features against moisture, UV rays, mold, dust, and environmental contaminants, making them well-suited for flexible packaging needs. The rapid lifestyle changes and the demand for convenient products have further amplified the usage of bioplastics in flexible packaging applications. Moreover, the increasing awareness of environmental preservation has driven customers to embrace bioplastic-based flexible packaging films across sectors like food and beverage and agriculture. These factors contribute to the expanding growth of the flexible packaging segment in the global bioplastics market.
Demand for biodegradable plastics in China has witnessed a significant surge
By Country, the global bioplastics market is broken up into the United States, Canada, Germany, the United Kingdom, France, Italy, the Netherlands, Spain, China, South Korea, Japan, India, Indonesia, Malaysia, Argentina, Brazil, Mexico, Colombia, Saudi Arabia, South Africa, Israel, Australia, and the UAE. China is expected to have the greatest revenue share in the bioplastics market over the next few years, owing to its well-established food and beverage sector and diversified customer base for various package styles.However, due to its reliance on various raw resources for biodegradable plastic manufacture, the market dynamics in China may alter. Due to limited production capacity in China, material prices for biodegradable plastics may rise. Industry companies are working on increasing lead times to reduce the impact of increased material costs. China is likewise embracing the idea, with the goal of promoting bioplastics in packaging by increasing production capacity. These developments not only encourage the use of bio-based alternatives, but also promote bio-economy innovation.
Key Players
The global bioplastics industry is dominated by key players such as Total Corbion, Mitsubishi Chemical Holding Corporation, Toray Industries (Japan), BASF SA, Green Dot Bioplastics, and Amcor Limited.This latest report “Bioplastics Market, Global Forecast By Material Type (Biodegradable (Polybutyleneadipate Terephthalate (PBAT),Polybutylene Succinate (PBS),Polylactic Acid (PLA),Polyhydroxyalkanoate (PHA),Starch Blends and Others) and Non-Biodegradable (Polyethylene (PE),Polyethylene terephthalate (PET),Polyamide (PA), Polypropylene (PP),Polytrimethylene terephthalate) ( PTT) and Others)), Applications (Packaging, Agriculture, Consumer Goods, Textile, Automotive And Transportation, And Building and Construction, others), Countries (United States, Canada, Germany, United Kingdom, France, Italy, Netherlands, Spain, China; South Korea, Japan, India, Indonesia, Malaysia, Argentina, Brazil, Mexico, Colombia, Saudi Arabia, South Africa, Israel, Australia and UAE), Companies (Total Corbion, Mitsubishi Chemical Holding Corporation, Toray Industries (Japan), BASF SA, GREEN DOT BIOPLASTICS and Amcor Limited)” provides a detailed analysis of Global Bioplastics Industry.
Material Type - Global Bioplastics has been covered from 2 viewpoints:
1. Biodegradable2. Non-Biodegradable
Biodegradable - Global Bioplastics has been covered from 6 viewpoints:
1. PBAT2. PBS
3. PLA
4. PHA
5. Starch Blends
6. Others
Non-Biodegradable - Global Bioplastics has been covered from 6 viewpoints:
1. PE2. PET
3. PA
4. PP
5. PTT
6. Others
Applications - Global Bioplastics Market has been covered from 7 viewpoints:
1. Packaging2. Agriculture
3. Consumer goods
4. Textile
5. Automotive & Transportation
6. Building & Construction
7. Others
Country - Global Bioplastics Market has been covered from 23 viewpoints:
1. North America
1.1 United States1.2 Canada
2. South America
2.1 Mexico2.2 Argentina
2.3 Brazil
2.4 Colombia
3. Europe
3.1 Germany3.2 United Kingdom
3.3 France
3.4 Italy
3.5 Netherlands
3.6 Spain
4. Asia Pacific
4.1 China4.2 South Korea
4.3 Japan
4.4 India
3.5 Indonesia
3.6 Malaysia
3.7 Australia
5. Middle East & Africa
5.1 Saudi Arabia5.2 UAE
5.3 Israel
5.4 South Africa
Company Insights:
- Overview
- Recent Development
- Sales Analysis
Company Analysis:
1. Total Corbion2. Mitsubishi Chemical Holding Corporation
3. Toray Industries
4. BASF SE
5. Green Dot Bioplastics
6. Amcor Limited
Table of Contents
1. Introduction2. Research & Methodology3. Executive Summary
4. Market Dynamics
5. Global Bioplastics Analysis
6. Share Analysis - Global Bioplastics
7. Material Type - Global Bioplastics Market
8. Biodegradable Plastics Market
9. Non-Biodegradable Plastics Market
10. Application - Global Bioplastics Market
11. Country Market - Global Bioplastics Market
12. Porters Five Forces
13. SWOT Analysis
14. Company Analysis
List of Figures
List of Tables
Companies Mentioned
- Total Corbion
- Mitsubishi Chemical Holding Corporation
- Toray Industries
- BASF SE
- Green Dot Bioplastics
- Amcor Limited
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 300 |
| Published | August 2023 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value ( USD | $ 7.41 Billion |
| Forecasted Market Value ( USD | $ 17.58 Billion |
| Compound Annual Growth Rate | 11.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 6 |
