Global Bioplastics and Biopolymers Market Size Estimated to Reach a Value USD 63.09 Billion by 2030, at 22.8% CAGR Growth: Polaris Market Research

NEW YORK, Nov. 17, 2022 /PRNewswire/ -- Polaris Market Research recently published [115+ Pages] research report on "Bioplastics & Biopolymers Market Share, Size, Trends, Industry Analysis Report, By Type (Biodegradable, Non-biodegradable); By End-Use (Packaging, Textile, Consumer Goods, Automotive, Agriculture, Others); By Region; Segment Forecast, 2022 - 2030" in its research database.

According to the research report, the global bioplastics & biopolymers market size was valued at USD 10.81 billion in 2021 and is expected to reach USD 63.09 Billion by 2030, growing at a CAGR of 22.8% during the forecast period.

What is Bioplastics and Biopolymers? How Big is the Size of Bioplastics and Biopolymers Market?

• Overview

Bioplastics are thermoplastics derived from bio-based substances such as sugar, seaweed, or starch. Biopolymers are polymers produced from living organisms such as silk from silkworms, cellulose in wood, or collagen in mammals. As bioplastics are called a subset of biopolymers, that means all bioplastics are biopolymers, but not all biopolymers are bioplastics. Cellulose acetate, PHA (polyhydroxyalkanoate), and PLA (polylactic acid) are some of the popular bioplastics.

The biopolymers are used in medicine and healthcare, packaging, and personal care products such as for packaging materials, emulsions, and as drug transport materials. Bioplastics have applications such as packaging, crockery, cutlery, pots, bowls, and straws. Rising need to replace and reduce dependence on fossil fuels is one of the major factors driving the demand for the bioplastics & biopolymers market.

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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, Table of Contents, Graphical introduction of regional analysis, Top players in the market with their revenue analysis and our research methodology.)

Our Free Sample Report Includes

·  Report introduction, overview, and in-depth industry analysis

• Breakdown data by regions, type, players, and applications
• Competitive landscape and leading competitor market shares
• 110+ pages research report
• Offers chapter-wise instruction on request
• Includes market presence across different geographies with share, size, and trends
• Updated list of tables and figures
• The report covers leading players with their business strategies
• Factors and fact research methodology

Some of the Top Companies and Manufacturers Are:

• Amcor Limited
• Arkema
• BASF
• Biome Bioplastics
• Biotec
• Braskem
• Cargill Incorporated
• Cereplast Inc.
• Eastman Chemical Company
• Mitsubishi Chemical Holding Corporation
• NatureWorks
• Novamont
• Plantic Technologies
• Total Corbion
• Toray Industries

For Additional List of Players and Detail Information, Download a Report PDF Brochure

Growth Driving Factors

• Increasing applications of bioplastics & biopolymers pushing the market growth

Factors including growing demand for bioplastics and biopolymers and increasing use of chemicals by consumers across the globe are fueling bioplastics & biopolymers market sales. A surge in the urban population which has led to increased food adoption along with rising disposable income of eatable food, is propelling the bioplastics & biopolymers industry growth. The applications of bioplastics & biopolymers in healthcare, packaging, consumer goods, and automotive industries is expected to accelerate the demand for bioplastics & biopolymers throughout the predicted period.

Moreover, the market is also booming due to the increasing consumer awareness about the use of sustainable and environmentally friendly products. Increasing initiatives by governments worldwide to manage the use of plastics as well as the introduction of regulations and targets in regions such as Europe and North America in order to encourage the usage of bio-based and biodegradable plastic to reduce packaging waste and achieve circular economies. In addition, major market players are launching advanced bioplastics & biopolymer-based products, which is anticipated to boost the bioplastics & biopolymers market size over the forecast period.

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Recent Developments

In March 2022, NatureWorks signed an agreement with ABB technology for automation of new bioplastics plant in Thailand. The advancements are aimed at expanding production capacity of polylactic acid (PLA) to cater to the growing industry demand for sustainable materials.

Segmental Analysis

• Biodegradable type segment dominated the market by accounting for a significant share

Based on type, the biodegradable segment contributed to the largest bioplastics & biopolymers market share in 2021. Biodegradable plastics include PHA, PBAT, PLA, and starch blends. The increased demand for biodegradable plastics has led to relieving recycling and diminishing waste production volume. The segment majorly finds applications in packaging, medical equipment, automotive, consumer goods, construction, and textiles, as well as in orthopedic devices, wound management, surgical sutures, and drug delivery systems. These factors are driving the segment growth in the market.

• Packaging segment generated the biggest revenue share

Based on the end-use bioplastics & biopolymers market segmentations, packaging segment held a significant revenue share in 2021. Packaging is used to protect goods for storage and distribution and avoid breakage and contamination of products. The increasing demand for bioplastics & biopolymers-based packaging in food and beverage, pharmaceutical, and consumer goods sectors is driving the segment growth in the market. Moreover, increasing purchasing power of consumers, a growing population, and a surge in e-commerce are the factors positively influencing segment growth.

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Bioplastics and Biopolymers Market: Report Scope

Geographic Overview

• Bioplastics & biopolymers market in Europe dominated the market with significant revenue in 2021

Based on geography, in 2021, Europe witnessed the highest revenue in the market. This growth can be attributed to the expanding use of bioplastics and biopolymers across sectors like automotive, packaging, and consumer goods in the region. Also, rising environmental concerns, along with the introduction of strong environmental guidelines, are fueling the demand for bio-based and biodegradable products.

Moreover, Asia Pacific is anticipated to generate significant growth throughout the foreseen period owing to the escalating economic development, urbanization, and industrial growth. In Asia Pacific, the market's growth can also be attributed to growing consumer consciousness, surging demand for sustainable packaging solutions, and population growth.

Browse the Detail Report "Bioplastics & Biopolymers Market Share, Size, Trends, Industry Analysis Report, By Type (Biodegradable, Non-biodegradable); By End-Use (Packaging, Textile, Consumer Goods, Automotive, Agriculture, Others); By Region; Segment Forecast, 2022 - 2030" with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/bioplastics-biopolymers-market  

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Polaris Market Research has segmented the bioplastics & biopolymers market report based on type, end-use, and region:

By Type Outlook

• Biodegradable
• Non-biodegradable

By End-Use Outlook

• Packaging
• Textile
• Consumer Goods
• Automotive
• Agriculture
• Others

By Region Outlook

• North America (U.S., Canada)
• Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
• Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
• Latin America (Brazil, Mexico, Argentina)
• Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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About Polaris Market Research

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.

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SOURCE Polaris Market Research