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Bioplastics Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type and Application

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    Report

  • 146 Pages
  • March 2022
  • Region: Global
  • The Insight Partners
  • ID: 5576265
UP TO OFF until Mar 31st 2024

Bioplastics Market is expected to reach US$ 13,806.1 million by 2028

The scope of the recent study on 'Bioplastics Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Type (Biodegradable and Non-Biodegradable) and Application (Packaging, Agriculture, Consumer Goods, Automotive & Transportation, Textiles, Building & Construction, and Others)” includes the factors fueling the market growth, revenue estimation and forecast, and market share analysis, along with the identification of significant market players and their key developments.



The bioplastics market is expected to grow from US$ 5,799.8 million in 2021 to US$ 13,806.1 million by 2028; it is estimated to grow at a CAGR of 13.2% from 2021 to 2028
Bioplastics are plastic material made from renewable biomass sources, such as vegetables fats and oils, cornstarch, straw, woodchips, sawdust, and recycled food waste. Bioplastics have the potential to reduce 30-70% of carbon dioxide emissions and represent ~ 42% reduction of carbon footprints.

Based on application, the bioplastics market is segmented into packaging, agriculture, consumer goods, automotive & transportation, textiles, building & construction, and others. In 2020, the packaging segment dominated the market. Also, the market for the same segment is expected to grow at the fastest rate during the forecast period. In the packaging industry, bioplastics are increasingly used as an alternative to conventional fossil-fuel-based plastics and is mostly used for food contact materials. The most common bioplastic used in the industry is polylactic acid (PLA), which is typically utilized for bags, food containers, bottles, disposable tableware, and cutlery

The global bioplastics market is segmented into five main regions - North America, Europe, Asia-Pacific (APAC), the Middle East & Africa (MEA), and South & Central America (SCAM). In 2020, Asia Pacific dominated the global market. The Asia Pacific bioplastics market is growing due to several factors, such as the growth of various end-use industries, the prevalence of global manufacturers, and increased environmental awareness and concerns across the region. Along with this, factors such as the growing packaging industry, government policies encouraging environment-friendly products, and growing investments by key market players are among the key factors anticipated to drive the bioplastics market growth in the region during the forecast period.

Impact of COVID-19 Pandemic on Bioplastics Market


Initially, the COVID-19 pandemic adversely affected the bioplastics market due to the shutdown of manufacturing facilities and the restrictions on transportation and logistics. The disruptions in the supply chain also hampered the supply of bioplastics. Following the state and regional guidelines, manufacturers had to follow extensive measures to protect the health and safety of their employees. Many global manufacturers temporarily closed their operations or restricted their production capacity. The negative impact of COVID-19 pandemic on the end-use industries has decreased the demand for bioplastics. As per a survey conducted by the Associated General Contractors (AGC) of America, since March 2020, 30% of companies’ construction projects have been delayed due to government orders, 37% were stopped due to owner requests associated with the COVID-19 pandemic, and 67% had delayed or canceled a project due to funding issues. However, businesses are recovering, as the governments of various countries have reduced imposed restrictions. Moreover, successful vaccination drives have further eased the current scenario leading to a rise in business activities across the globe. The recovery of various end-use industries is also driving the bioplastics market. The start of operations in the manufacturing units has led to the recovery in the production of bioplastics products, which had a positive impact on the market.

Bioplastics Market Size, by Region, during 2021-2028

The 'Global Bioplastics Market Analysis to 2028' is a specialized and in-depth study of the chemicals and materials industry, focusing on the global bioplastics market trend analysis. The report aims to provide an overview of the market with detailed market segmentation. The bioplastics market is segmented on the basis of type, application, and geography. Based on type, the market is segmented into biodegradable and non-biodegradable. Based on application, the bioplastics market is segmented into packaging, agriculture, consumer goods, automotive & transportation, textiles, building & construction, and others. Based on geography, the market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. Asia-Pacific is expected to be the fastest-growing region in the bioplastics market, followed by Europe.

Reasons to Buy
  • Highlights key business priorities to assist companies realign their business strategies
  • Features key findings and crucial progressive industry trends in the global bioplastics market, thereby allowing players to develop effective long-term strategies
  • Develops/modifies business expansion plans by using substantial growth offering from developed and emerging markets
  • Scrutinizes in-depth market trends as well as key market drivers and restraints
  • Enhances the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals
Frequently Asked Questions about the Global Bioplastics Market

What is the estimated value of the Global Bioplastics Market?

The Global Bioplastics Market was estimated to be valued at $5799.8 Million in 2021.

What is the growth rate of the Global Bioplastics Market?

The growth rate of the Global Bioplastics Market is 13.2%, with an estimated value of $13806.1 Million by 2028.

What is the forecasted size of the Global Bioplastics Market?

The Global Bioplastics Market is estimated to be worth $13806.1 Million by 2028.

Who are the key companies in the Global Bioplastics Market?

Key companies in the Global Bioplastics Market include Teijin Limited, Toray Industries, Inc., Sabic, Basf Se, Total Carbion Pla, Braskem S.A., Biome Bioplastics, Mitsubishi Chemical Corporation, Novamont S.P.A. and Natureworks LLC..

Table of Contents

1. Introduction
1.1 Study Scope
1.2 Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection
3.2.2 Primary Interviews
3.2.3 Hypothesis Formulation
3.2.4 Macro-economic Factor Analysis
3.2.5 Developing Base Number
3.2.6 Data Triangulation
3.2.7 Country Level Data
4. Global Bioplastics Market Landscape
4.1 Market Overview
4.2 Porter’s Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Competitive Rivalry
4.2.5 Threat of Substitutes
4.3 Expert Opinion
4.4 Ecosystem Analysis
5. Bioplastics Market - Key Market Dynamics
5.1 Key Market Drivers
5.1.2 Wide Application Scope of Bioplastics
5.1.3 Rising Demand for Eco-Friendly Plastics in Packaging Industry
5.2 Key Market Restraints
5.2.1 Higher Prices and Shorter Lifetime of Bioplastics
5.3 Key Market Opportunities
5.3.1 Stringent Government Laws & Regulations on Traditional Plastic Use
5.4 Future Trends
5.4.1 Increasing Focus on Innovations and Technological Advancements
5.5 Impact Analysis of Drivers and Restraint
6. Bioplastics - Global Market Analysis
6.1 Bioplastics Market Overview
6.2 Bioplastics Market -Revenue and Forecast to 2028 (US$ Million) (Kilotons)
6.3 Competitive Positioning - Key Market Players
7. Bioplastics Market Analysis - By Type
7.1 Overview
7.2 Bioplastics Market, By Type (2020 and 2028)
7.3 Biodegradable
7.3.1 Overview
7.3.2 Biodegradable: Bioplastics Market - Revenue and Forecast to 2028 (US$ Million) (Kilotons)
7.4 Non-biodegradable
7.4.1 Overview
7.4.2 Non-biodegradable: Bioplastics Market - Revenue and Forecast to 2028 (US$ Million) (Kilotons)
8. Bioplastics Market Analysis - By Application
8.1 Overview
8.2 Bioplastics Market, By Application (2020 and 2028)
8.2.1 Global Bioplastics Market, by Application - Revenue and Forecast to 2028 (US$ Million) (Kilotons)
8.3 Packaging
8.3.1 Overview
8.3.2 Packaging: Bioplastics Market - Revenue and Forecast to 2028 (US$ Million) (Kilotons) (Kilotons)
8.4 Agriculture
8.4.1 Overview
8.4.2 Agriculture: Bioplastics Market - Revenue and Forecast to 2028 (US$ Million) (Kilotons)
8.5 Consumer Goods
8.5.1 Overview
8.5.2 Consumer Goods: Bioplastics Market - Revenue and Forecast to 2028 (US$ Million) (Kilotons)
8.6 Automotive and Transportation
8.6.1 Overview
8.6.2 Automotive and Transportation: Bioplastics Market - Revenue and Forecast to 2028 (US$ Million) (Kilotons)
8.7 Textiles
8.7.1 Overview
8.7.2 Textiles: Bioplastics Market - Revenue and Forecast to 2028 (US$ Million) (Kilotons)
8.8 Building and Construction
8.8.1 Overview
8.8.2 Building and Construction: Bioplastics Market - Revenue and Forecast to 2028 (US$ Million) (Kilotons)
8.9 Others
8.9.1 Overview
8.9.2 Others: Bioplastics Market - Revenue and Forecast to 2028 (US$ Million) (Kilotons)
9. Bioplastics Market - Geographic Analysis
9.1 Overview
9.2 North America: Bioplastics Market
9.2.1 North America: Bioplastics Market -Revenue and Forecast to 2028 (US$ Million)
9.2.2 North America: Bioplastics Market, by Type
9.2.3 North America: Bioplastics Market, by Application
9.2.4 North America: Bioplastics Market, by Key Country
9.2.4.1 US: Bioplastics Market -Revenue and Forecast to 2028 (US$ Million)
9.2.4.1.1 US: Bioplastics Market, by Type
9.2.4.1.2 US: Bioplastics Market, by Application
9.2.4.2 Canada: Bioplastics Market -Revenue and Forecast to 2028 (US$ Million)
9.2.4.2.1 Canada: Bioplastics Market, by Type
9.2.4.2.2 Canada: Bioplastics Market, by Application
9.2.4.3 Mexico: Bioplastics Market -Revenue and Forecast to 2028 (US$ Million)
9.2.4.3.1 Mexico: Bioplastics Market, by Type
9.2.4.3.2 Mexico: Bioplastics Market, by Application
9.3 Europe: Bioplastics Market
9.3.1 Europe: Bioplastics Market -Revenue and Forecast to 2028 (US$ Million)
9.3.2 Europe: Bioplastics Market, by Type
9.3.3 Europe: Bioplastics Market, by Application
9.3.4 Europe: Bioplastics Market, by Key Country
9.3.4.1 Germany: Bioplastics Market -Revenue and Forecast to 2028 (US$ Million)
9.3.4.1.1 Germany: Bioplastics Market, by Type
9.3.4.1.2 Germany: Bioplastics Market, by Application
9.3.4.2 France: Bioplastics Market -Revenue and Forecast to 2028 (US$ Million)
9.3.4.2.1 France: Bioplastics Market, by Type
9.3.4.2.2 France: Bioplastics Market, by Application
9.3.4.3 Italy: Bioplastics Market -Revenue and Forecast to 2028 (US$ Million)
9.3.4.3.1 Italy: Bioplastics Market, by Type
9.3.4.3.2 Italy: Bioplastics Market, by Application
9.3.4.4 United Kingdom: Bioplastics Market -Revenue and Forecast to 2028 (US$ Million)
9.3.4.4.1 United Kingdom: Bioplastics Market, by Type
9.3.4.4.2 United Kingdom: Bioplastics Market, by Application
9.3.4.5 Russia: Bioplastics Market -Revenue and Forecast to 2028 (US$ Million)
9.3.4.5.1 Russia: Bioplastics Market, by Type
9.3.4.5.2 Russia: Bioplastics Market, by Application
9.3.4.6 Rest of Europe: Bioplastics Market -Revenue and Forecast to 2028 (US$ Million)
9.3.4.6.1 Rest of Europe: Bioplastics Market, by Type
9.3.4.6.2 Rest of Europe: Bioplastics Market, by Application
9.4 Asia Pacific: Bioplastics Market
9.4.1 Asia Pacific: Bioplastics Market -Revenue and Forecast to 2028 (US$ Million)
9.4.2 Asia Pacific: Bioplastics Market, by Type
9.4.3 Asia Pacific: Bioplastics Market, by Application
9.4.4 Asia Pacific: Bioplastics Market, by Key Country
9.4.4.1 Australia: Bioplastics Market -Revenue and Forecast to 2028 (US$ Million)
9.4.4.1.1 Australia: Bioplastics Market, by Type
9.4.4.1.2 Australia: Bioplastics Market, by Application
9.4.4.2 China: Bioplastics Market -Revenue and Forecast to 2028 (US$ Million)
9.4.4.2.1 China: Bioplastics Market, by Type
9.4.4.2.2 China: Bioplastics Market, by Application
9.4.4.3 India: Bioplastics Market -Revenue and Forecast to 2028 (US$ Million)
9.4.4.3.1 India: Bioplastics Market, by Type
9.4.4.3.2 India: Bioplastics Market, by Application
9.4.4.4 Japan: Bioplastics Market -Revenue and Forecast to 2028 (US$ Million)
9.4.4.4.1 Japan: Bioplastics Market, by Type
9.4.4.4.2 Japan: Bioplastics Market, by Application
9.4.4.5 South Korea: Bioplastics Market -Revenue and Forecast to 2028 (US$ Million)
9.4.4.5.1 South Korea: Bioplastics Market, by Type
9.4.4.5.2 South Korea: Bioplastics Market, by Application
9.4.4.6 Rest of Asia Pacific: Bioplastics Market -Revenue and Forecast to 2028 (US$ Million)
9.4.4.6.1 Rest of Asia Pacific: Bioplastics Market, by Type
9.4.4.6.2 Rest of Asia Pacific: Bioplastics Market, by Application
9.5 Middle East & Africa: Bioplastics Market
9.5.1 Middle East and Africa: Bioplastics Market -Revenue and Forecast to 2028 (US$ Million)
9.5.2 Middle East and Africa: Bioplastics Market, By Type
9.5.3 Middle East and Africa: Bioplastics Market, by Application
9.5.4 Middle East and Africa Bioplastics Market, by Application - Revenue and Forecast to 2028 (US$ Million)
9.5.5 Middle East and Africa: Bioplastics Market, by Key Country
9.5.5.1 South Africa: Bioplastics Market -Revenue and Forecast to 2028 (US$ Million)
9.5.5.1.1 South Africa: Bioplastics Market, By Type
9.5.5.1.2 South Africa: Bioplastics Market, by Application
9.5.5.2 Saudi Arabia: Bioplastics Market -Revenue and Forecast to 2028 (US$ Million)
9.5.5.2.1 Saudi Arabia: Bioplastics Market, By Type
9.5.5.2.2 Saudi Arabia: Bioplastics Market, by Application
9.5.5.3 UAE: Bioplastics Market -Revenue and Forecast to 2028 (US$ Million)
9.5.5.3.1 UAE: Bioplastics Market, By Type
9.5.5.3.2 UAE: Bioplastics Market, by Application
9.5.5.4 Rest of MEA: Bioplastics Market -Revenue and Forecast to 2028 (US$ Million)
9.5.5.4.1 Rest of MEA: Bioplastics Market, By Type
9.5.5.4.2 Rest of MEA: Bioplastics Market, by Application
9.6 South & Central America: Bioplastics Market
9.6.1 South & Central America: Bioplastics Market -Revenue and Forecast to 2028 (US$ Million)
9.6.2 South & Central America: Bioplastics Market, By Type
9.6.3 South & Central America: Bioplastics Market, by Application
9.6.4 South & Central America: Bioplastics Market, by Key Country
9.6.4.1 Brazil: Bioplastics Market - Revenue and Forecast to 2028 (US$ Million)
9.6.4.1.1 Brazil: Bioplastics Market, By Type
9.6.4.1.2 Brazil: Bioplastics Market, by Application
9.6.4.2 Argentina: Bioplastics Market - Revenue and Forecast to 2028 (US$ Million)
9.6.4.2.1 Argentina: Bioplastics Market, By Type
9.6.4.2.2 Argentina: Bioplastics Market, by Application
9.6.4.3 Rest of South & Central America: Bioplastics Market - Revenue and Forecast to 2028 (US$ Million)
9.6.4.3.1 Rest of South & Central America: Bioplastics Market, By Type
9.6.4.3.2 Rest of South & Central America: Bioplastics Market, by Application
10. Impact of COVID-19 Pandemic on Global Bioplastics Market
10.1 Impact of COVID-19 on Bioplastics Market
10.2 North America: Impact Assessment of COVID-19 Pandemic
10.3 Europe: Impact Assessment of COVID-19 Pandemic
10.4 Asia Pacific: Impact Assessment of COVID-19 Pandemic
10.5 Middle East & Africa: Impact Assessment of COVID-19 Pandemic
10.6 South & Central America: Impact Assessment of COVID-19 Pandemic
11. Company Profiles
11.1 Teijin Limited
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 TORAY INDUSTRIES, INC.
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 SABIC
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 BASF SE
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 Total Corbion PLA
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 Braskem S.A.
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
11.7 Biome Bioplastics
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
11.8 Mitsubishi Chemical Corporation
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Products and Services
11.8.4 Financial Overview
11.8.5 SWOT Analysis
11.8.6 Key Developments
11.9 Novamont S.P.A.
11.9.1 Key Facts
11.9.2 Business Description
11.9.3 Products and Services
11.9.4 Financial Overview
11.9.5 SWOT Analysis
11.9.6 Key Developments
11.10 Natureworks LLC
11.10.1 Key Facts
11.10.2 Business Description
11.10.3 Products and Services
11.10.4 Financial Overview
11.10.5 SWOT Analysis
11.10.6 Key Developments
12. Appendix
12.1 About the Publisher
12.2 Glossary of Terms
List of Tables
Table 1. Bioplastics Market -Revenue and Forecast to 2028 (US$ Million) (Kilotons)
Table 2. Global Bioplastics Market, by Type - Revenue and Forecast to 2028 (US$ Million) (Kilotons)
Table 3. North America Bioplastics Market, by Type - Revenue and Forecast to 2028 (US$ Million)
Table 4. North America Bioplastics Market, by Application - Revenue and Forecast to 2028 (US$ Million)
Table 5. US Bioplastics Market, by Type - Revenue and Forecast to 2028 (US$ Million)
Table 6. US Bioplastics Market, by Application - Revenue and Forecast to 2028 (US$ Million)
Table 7. Canada: Bioplastics Market, by Type - Revenue and Forecast to 2028 (US$ Million)
Table 8. Canada Bioplastics Market, by Application - Revenue and Forecast to 2028 (US$ Million)
Table 9. Mexico Bioplastics Market, by Type - Revenue and Forecast to 2028 (US$ Million)
Table 10. Mexico Bioplastics Market, by Application - Revenue and Forecast to 2028 (US$ Million)
Table 11. Europe Bioplastics Market, by Type - Revenue and Forecast to 2028 (US$ Million)
Table 12. Europe Bioplastics Market, by Application - Revenue and Forecast to 2028 (US$ Million)
Table 13. Germany Bioplastics Market, by Type - Revenue and Forecast to 2028 (US$ Million)
Table 14. Germany Bioplastics Market, by Application - Revenue and Forecast to 2028 (US$ Million)
Table 15. France Bioplastics Market, by Type - Revenue and Forecast to 2028 (US$ Million)
Table 16. France Bioplastics Market, by Application - Revenue and Forecast to 2028 (US$ Million)
Table 17. Italy Bioplastics Market, by Type - Revenue and Forecast to 2028 (US$ Million)
Table 18. Italy Bioplastics Market, by Application - Revenue and Forecast to 2028 (US$ Million)
Table 19. United Kingdom Bioplastics Market, by Type - Revenue and Forecast to 2028 (US$ Million)
Table 20. United Kingdom Bioplastics Market, by Application - Revenue and Forecast to 2028 (US$ Million)
Table 21. Russia: Bioplastics Market, by Type - Revenue and Forecast to 2028 (US$ Million)
Table 22. Russia: Bioplastics Market, by Application - Revenue and Forecast to 2028 (US$ Million)
Table 23. Rest of Europe Bioplastics Market, by Type - Revenue and Forecast to 2028 (US$ Million)
Table 24. Rest of Europe Bioplastics Market, by Application - Revenue and Forecast to 2028 (US$ Million)
Table 25. Asia Pacific Bioplastics Market, by Type - Revenue and Forecast to 2028 (US$ Million)
Table 26. Asia Pacific Bioplastics Market, by Application - Revenue and Forecast to 2028 (US$ Million)
Table 27. Australia Bioplastics Market, by Type - Revenue and Forecast to 2028 (US$ Million)
Table 28. Australia Bioplastics Market, by Application - Revenue and Forecast to 2028 (US$ Million)
Table 29. China Bioplastics Market, by Type - Revenue and Forecast to 2028 (US$ Million)
Table 30. China Bioplastics Market, by Application - Revenue and Forecast to 2028 (US$ Million)
Table 31. India Bioplastics Market, by Type - Revenue and Forecast to 2028 (US$ Million)
Table 32. India Bioplastics Market, by Application - Revenue and Forecast to 2028 (US$ Million)
Table 33. Japan Bioplastics Market, by Type - Revenue and Forecast to 2028 (US$ Million)
Table 34. Japan Bioplastics Market, by Application - Revenue and Forecast to 2028 (US$ Million)
Table 35. South Korea Bioplastics Market, by Type - Revenue and Forecast to 2028 (US$ Million)
Table 36. South Korea Bioplastics Market, by Application - Revenue and Forecast to 2028 (US$ Million)
Table 37. Rest of Asia Pacific Bioplastics Market, by Type - Revenue and Forecast to 2028 (US$ Million)
Table 38. Rest of Asia Pacific Bioplastics Market, by Application - Revenue and Forecast to 2028 (US$ Million)
Table 39. Middle East and Africa Bioplastics Market, By Type - Revenue and Forecast to 2028 (US$ Million)
Table 48. South & Central America Bioplastics Market, By Type - Revenue and Forecast to 2028 (US$ Million)
Table 49. South & Central America Bioplastics Market, by Application - Revenue and Forecast to 2028 (US$ Million)
Table 50. Brazil Bioplastics Market, By Type - Revenue and Forecast to 2028 (US$ Million)
Table 51. Brazil Bioplastics Market, by Application - Revenue and Forecast to 2028 (US$ Million)
Table 52. Argentina Bioplastics Market, By Type - Revenue and Forecast to 2028 (US$ Million)
Table 53. Argentina Bioplastics Market, by Application - Revenue and Forecast to 2028 (US$ Million)
Table 54. Rest of South & Central America Bioplastics Market, By Type - Revenue and Forecast to 2028 (US$ Million)
Table 55. Rest of South & Central America Bioplastics Market, by Application - Revenue and Forecast to 2028 (US$ Million)
Table 56. Glossary of Terms, Global Bioplastics Market
List of Figures
Figure 1 Global Bioplastics Market Segmentation
Figure 2 Bioplastics Market Segmentation - By Geography
Figure 3 Global Bioplastics Market Overview
Figure 4 Bioplastics Market, By Product
Figure 5 Bioplastics Market, By Geography
Figure 6 Global Bioplastics Market, Industry Landscape
Figure 7 Porter's Five Forces Analysis
Figure 8 Expert Opinion
Figure 9 Ecosystem: Bioplastics Market
Figure 10 Bioplastics Market Impact Analysis of Drivers and Restraints
Figure 11 Geographic Overview of Bioplastics Market
Figure 12 Global: Bioplastics Market - Revenue and Forecast to 2028 (US$ Million) (Kilotons)
Figure 13 Bioplastics Market Revenue Share, By Type (2020 and 2028)
Figure 14 Biodegradable: Bioplastics Market - Revenue and Forecast To 2028 (US$ Million)
Figure 15 Non-biodegradable: Bioplastics Market - Revenue and Forecast To 2028 (US$ Million)
Figure 16 Bioplastics Market Revenue Share, By Application (2020 and 2028)
Figure 17 Packaging: Bioplastics Market - Revenue and Forecast To 2028 (US$ Million)
Figure 18 Agriculture: Bioplastics Market - Revenue and Forecast To 2028 (US$ Million)
Figure 19 Consumer Goods: Bioplastics Market - Revenue and Forecast To 2028 (US$ Million)
Figure 20 Automotive and Transportation: Bioplastics Market - Revenue and Forecast To 2028 (US$ Million)
Figure 21 Textiles: Bioplastics Market - Revenue and Forecast To 2028 (US$ Million)
Figure 22 Building and Construction: Bioplastics Market - Revenue and Forecast To 2028 (US$ Million)
Figure 23 Others: Bioplastics Market - Revenue and Forecast To 2028 (US$ Million)
Figure 24 Global Bioplastics Market Revenue Share, by Region (2020 and 2028)
Figure 25 North America: Bioplastics Market - Revenue and Forecast to 2028 (US$ Million)
Figure 26 North America: Bioplastics Market Revenue Share, by Type (2020 and 2028)
Figure 27 North America: Bioplastics Market Revenue Share, by Application (2020 and 2028)
Figure 28 North America: Bioplastics Market Revenue Share, by Key Country (2020 and 2028)
Figure 29 US: Bioplastics Market -Revenue and Forecast to 2028 (US$ Million)
Figure 30 Canada: Bioplastics Market -Revenue and Forecast to 2028 (US$ Million)
Figure 31 Mexico: Bioplastics Market -Revenue and Forecast to 2028 (US$ Million)
Figure 32 Europe: Bioplastics Market - Revenue and Forecast to 2028 (US$ Million)
Figure 33 Europe: Bioplastics Market Revenue Share, by Type (2020 and 2028)
Figure 34 Europe: Bioplastics Market Revenue Share, by Application (2020 and 2028)
Figure 35 Europe: Bioplastics Market Revenue Share, by Key Country (2020 and 2028)
Figure 36 Germany: Bioplastics Market -Revenue and Forecast to 2028 (US$ Million)
Figure 37 France: Bioplastics Market -Revenue and Forecast to 2028 (US$ Million)
Figure 38 Italy: Bioplastics Market -Revenue and Forecast to 2028 (US$ Million)
Figure 39 United Kingdom: Bioplastics Market -Revenue and Forecast to 2028 (US$ Million)
Figure 40 Russia: Bioplastics Market -Revenue and Forecast to 2028 (US$ Million)
Figure 41 Rest of Europe: Bioplastics Market -Revenue and Forecast to 2028 (US$ Million)
Figure 42 Asia Pacific: Bioplastics Market - Revenue and Forecast to 2028 (US$ Million)
Figure 43 Asia Pacific: Bioplastics Market Revenue Share, by Type (2020 and 2028)
Figure 44 Asia Pacific: Bioplastics Market Revenue Share, by Application (2020 and 2028)
Figure 45 Asia Pacific: Bioplastics Market Revenue Share, by Key Country (2020 and 2028)
Figure 46 Australia: Bioplastics Market -Revenue and Forecast to 2028 (US$ Million)
Figure 47 China: Bioplastics Market -Revenue and Forecast to 2028 (US$ Million)
Figure 48 India: Bioplastics Market -Revenue and Forecast to 2028 (US$ Million)
Figure 49 Japan: Bioplastics Market -Revenue and Forecast to 2028 (US$ Million)
Figure 50 South Korea: Bioplastics Market -Revenue and Forecast to 2028 (US$ Million)
Figure 51 Rest of Asia Pacific: Bioplastics Market -Revenue and Forecast to 2028 (US$ Million)
Figure 52 Middle East and Africa: Bioplastics Market - Revenue and Forecast to 2028 (US$ Million)
Figure 53 Middle East and Africa: Bioplastics Market Revenue Share, By Type (2020 and 2028)
Figure 54 Middle East and Africa: Bioplastics Market Revenue Share, by Application (2020 and 2028)
Figure 55 Middle East and Africa: Bioplastics Market Revenue Share, by Key Country (2020 and 2028)
Figure 56 South Africa: Bioplastics Market -Revenue and Forecast to 2028 (US$ Million)
Figure 57 Saudi Arabia: Bioplastics Market -Revenue and Forecast to 2028 (US$ Million)
Figure 58 UAE: Bioplastics Market -Revenue and Forecast to 2028 (US$ Million)
Figure 59 Rest of MEA: Bioplastics Market -Revenue and Forecast to 2028 (US$ Million)
Figure 60 South & Central America: Bioplastics Market - Revenue and Forecast to 2028 (US$ Million)
Figure 61 South & Central America: Bioplastics Market Revenue Share, By Type (2020 and 2028)
Figure 62 South & Central America: Bioplastics Market Revenue Share, by Application (2020 and 2028)
Figure 63 South & Central America: Bioplastics Market Revenue Share, by Key Country (2020 and 2028)
Figure 64 Brazil: Bioplastics Market - Revenue and Forecast to 2028 (US$ Million)
Figure 65 Argentina: Bioplastics Market - Revenue and Forecast to 2028 (US$ Million)
Figure 66 Rest of South & Central America: Bioplastics Market - Revenue and Forecast to 2028 (US$ Million)
Figure 67 Impact of COVID-19 Pandemic in North America
Figure 68 Impact of COVID-19 Pandemic in Europe
Figure 69 Impact of COVID-19 Pandemic in Asia Pacific
Figure 70 Impact of COVID-19 Pandemic in Middle East & Africa
Figure 71 Impact of COVID-19 Pandemic in South & Central America

Executive Summary

The bioplastics market is expected to grow from US$ 5,799.8 million in 2021 to US$ 13,806.1 million by 2028; it is estimated to grow at a CAGR of 13.2% from 2021 to 2028

Bioplastic is a moldable plastic material made from chemical compounds derived from or synthesized by microbes, such as bacteria, or genetically modified plants. Bioplastics are obtained from renewable resources, and some bioplastics are biodegradable.

Based on type, the global bioplastics market is segmented into biodegradable and non-biodegradable. The non-biodegradable segment led the market in 2020. Also, the market for the same segment is expected to grow at a faster rate during the forecast period.

The bioplastics market, based on geography, is segmented into North America, Europe, Asia Pacific (APAC), South and Central America (SCAM), and the Middle East and Africa (MEA). In 2020, Asia Pacific dominated the market. The growth of various end-use industries in Asia Pacific is driving the growth of the bioplastics market. Furthermore, the building & construction industry strongly contributes to the market's growth. For instance, in India, the construction industry is the second largest industry after agriculture, accounting for ~11% of the country's GDP. Moreover, according to The Asia-Pacific Research and Training Network on Trade (ARTNeT), Thailand is a major automobile exporting country, but Japanese FDI mainly drives the sector. Along with this, the automobile sector in China is growing rapidly, which would have a positive impact on the bioplastics market in the coming years. Moreover, the automotive industry is focusing on setting up new manufacturing and assembly lines in various countries, such as Australia, to suppress the dependence on imported passenger vehicles from other Asian countries.

Many industries, such as the chemicals & materials industry, faced unprecedented challenges due to the COVID-19 pandemic. The shortage of raw material and labor, the shutdown of factories, and other operational difficulties under COVID-19 safety protocols adversely affected the bioplastics market. The lockdown heavily impacted the supply and the production side of bioplastics, thus restraining the growth of the market. Due to the lockdown during the pandemic, the end-use industries reduced the demand for bioplastics. For instance, according to KPMG International, more than ~80% of the world’s auto supply chain is connected to China. In January 2020, China’s car sales dropped by 18% which led to a negative impact on the automotive industry, leading to decrease in demand for bioplastics. However, successful vaccination drives have further eased the current scenario, leading to a rise in business activities. The economies are reviving their operations, and the demand for bioplastics is expected to rise globally in the coming years. Key manufacturers have started resuming their operations, thus restoring the production capacity of bioplastics. Such factors have had a positive impact on the bioplastics market.

Teijin Limited; Toray Industries, Inc.; Sabic; Basf SE; Total Corbion PLA; Braskem S.A.; Biome Bioplastics; Mitsubishi Chemical Corporation; Novamont S.P.A.; and Natureworks LLC are among the leading players in the bioplastics market. These companies are adopting strategies, such as mergers and acquisitions and product launches, to expand their geographic presence and consumer bases.

The overall global bioplastics market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. Participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants such as valuation experts, research analysts, and key opinion leaders—specializing in the global bioplastics market.

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Teijin Limited
  • Toray Industries, Inc.
  • Sabic
  • Basf Se
  • Total Carbion Pla
  • Braskem S.A.
  • Biome Bioplastics
  • Mitsubishi Chemical Corporation
  • Novamont S.P.A.
  • Natureworks LLC.