Bioplastics & Biopolymers Market worth $27.3 billion by 2027 - Exclusive Report by MarketsandMarkets™

CHICAGO, Feb. 2, 2023 /PRNewswire/ -- The report "Bioplastics & Biopolymers Market by Type (Biodegradable, Non-Biodegradable/ Bio-Based), End-Use Industry (Packaging, Consumer Goods, Textiles, Agriculture & Horticulture, Automotive & Transport, Coatings & Adhesives), & Region - Global Forecast to 2027", size of bioplastics & biopolymers was USD 11.5 billion in 2022 and is projected to reach USD 27.3 billion by 2027, at a CAGR of 18.9%, between 2022 and 2027.

Bioplastics are plastics derived from renewable sources such as corn, potatoes, rice, soy, sugarcane, wheat, and vegetable oil, while biopolymers are naturally occurring polymers. Bioplastics may or may not be biodegradable. They are mainly segmented into biodegradable and non-biodegradable plastics for various applications in packaging, consumer goods, automotive & transportation, agriculture & horticulture, medical, and other end-use industries.

Browse in-depth TOC on "Bioplastics & Biopolymers Market"

244 – Tables
42 – Figures
283 – Pages

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=88795240

In terms of value, PBAT are estimated to be the second largest market in the global bioplastics & biopolymers market, by product type, during the forecast period.

PBAT is marketed commercially as a fully biodegradable plastic. It has excellent biopolymer properties, such as high flexibility, good thermal stability, and a high degree of biodegradability. PBAT will be replacing LDPE; in mulch film application; the major application focus for most of the PBAT manufacturers is shopping bags due to stringent environmental regulations. PBAT has comparable tensile strength that makes it a good choice for carrying capacity in the application of shopping bags.

Sugarcane/Sugar beet to be the largest market in the global bioplastics & biopolymers market during 2022 to 2027

The sugarcane/sugar beet segment accounted for more than a quarter of the total market, in terms of volume, and is projected to register a CAGR of 19.3%during the forecast period. Bioplastics made from sugarcane ethanol have the same physical and chemical properties as regular plastic and maintain full recycling capabilities. The carbon footprint of sugarcane ethanol bioplastics is lower than traditional plastic because sugarcane absorbs CO2 from the air as it grows. Sugarcane-based bioplastics can be used to create bags, covers, tubes, films, wraps, and stretch films. A number of companies have started to switch to more environmentally friendly packaging.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=88795240 

Consumer goods is estimated to be the second-largest end-use industry by value in 2022

The major consumer goods manufacturers are shifting their focus from traditional plastics to bioplastics & biopolymers to reduce the negative impact on the environment. Bioplastics & biopolymers are used for manufacturing consumer goods such as touchscreen computer casings, loudspeakers, mobile casings, and vacuum cleaners. Bioplastics are also used in manufacturing coffee pods, dinnerware, and many other consumer products used for household applications. Disposable housewares made from biodegradable plastics are replacing conventional plastics.

Europe accounted for third largest region, by value, during the forecast period

Europe accounts for a significant share in the bioplastics & biopolymers market due to the high consumer demand for sustainable packaging materials. The governments of the European countries are promoting the use of biodegradable plastics by setting up the infrastructure for composting of these plastics. The key companies producing biodegradable plastics in Europe include BASF (Germany), TotalEnergies Corbion PLA (Netherlands), Biome Bioplastics (UK), and Bio-On (Italy).

Market Players

Some of the key players in the global bioplastics & biopolymers market are NatureWorks LLC (US), Braskem (Brazil), BASF SE (Germany), TotalEnergies Corbion (Netherlands), Novamont S.P.A (Italy), Biome Bioplastics Limited (UK), Mitsubishi Chemical Group Corporation (Japan), Biotec Biologische Naturverpackungen GmbH & Co. (Germany), Plantic Technologies Limited (Australia), and Toray Industries, Inc. (Japan) and others.

Browse Adjacent Market: Green Bio Chemicals Market Research Reports & Consulting

Related Reports:

Biodegradable Plastics Market - Global Forecast to 2026

Sustainable Plastic Packaging Market - Global Forecast to 2027

About MarketsandMarkets™ 

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/biopolymers-bioplastics-market.asp
Visit Our Website: https://www.marketsandmarkets.com/
Content Source: https://www.marketsandmarkets.com/PressReleases/biopolymers-bioplastics.asp

Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg

SOURCE MarketsandMarkets