Global Bioplastics Market Projected To Reach USD 43.7 Billion by 2030, With a Rapid CAGR of 17.1% | Growth Market Reports

PUNE, India, Sept. 13, 2022 /PRNewswire/ -- According to a recent market study published by Growth Market Reports, titled, "Global Bioplastics Market" by Products (Biodegradable {Polylactic Acid, Starch blends, Polybutylene Adipate Terephthalate (PBAT), Polybutylene Succinate (PBS), and Others} and Non-biodegradable {Polyethylene, Polyethylene Terephthalate, Polyamide, Polytrimethylene Terephthalate, and Others}), by Applications (Packaging, Agriculture, Consumer goods, Textile, Automotive & Transportation, Building & Construction, and Others), and Regions: Size, Share, Trends, and Opportunity Analysis, 2021-2030, the market was valued at USD 10.2 Billion in 2021 and is expected to grow at a healthy growth rate of 17.1% by the end of 2030. The global bioplastics market growth is attributed to rising awareness about the eco-friendly properties of bioplastics, high consumer acceptance for bio-based products, and legislative backing for developing degradable packaging materials.

Key Market Players Profiled in the Report

• An Phat Holdings
• NatureWorks LLC
• SABIC
• BASF SE
• Futerro
• Trinseo S.A.
• Braskem
• TEIJIN LIMITED
• TORAY INDUSTRIES INC.
• Toyota Tsusho Corporation
• Avantium
• PTT MCC Biochem Co. Ltd.

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

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This report also includes a complete analysis of industry players and covers their latest developments, product portfolio, pricing, mergers, acquisitions, and collaborations. Moreover, it provides crucial strategies that are helping them to expand their market share.

Highlights on the segments of the bioplastics market

In terms of products, the global bioplastics market is segmented into biodegradable and non-biodegradable plastics. The non-biodegradable plastics segment is anticipated to expand at a sustainable CAGR during the forecast period, owing to the increasing demand for sustainable materials in the world. Non-biodegradable plastics are derived from raw materials that are sustainable in nature including castor oil, corn, and sugarcane. The non-biodegradable plastic segment generated 47% of market revenue in 2021.

Based on applications, the global bioplastics market is segmented into packaging, agriculture, consumer goods, textile, automotive & transportation, building & construction, and others. The packaging segment constituted the largest share of the market during the forecast period. The problem of landfills and raising awareness of sustainable development fuels the market growth. Bioplastics are widely used for making containers, bottles, and food packaging. Moreover, bioplastics are utilized in packaging for personal care items, domestic goods, and films and sheets.

Based on regions, the market is segmented into five major regions, namely, North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The market in Europe is projected to expand at a significant CAGR during the forecast period, owing to the growing adoption of bioplastics bags in the region. In Europe, more than 100 billion bags are used every year. Bioplastics are widely utilized to manufacture bags, making it a significant market for bioplastics in the European Union.

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Key Takeaways from the Study:

• Bioplastic is biodegradable in nature and it is more popular than conventional plastic. Raw materials required for manufacturing bioplastic are renewable resources or natural resources.
• Governments and organizations delayed regulations on single-use plastics and green investments during the pandemic.
• A significant investment in research and development is needed to make bioplastics more environmentally friendly, improve the quality of the product, make the synthesis process simpler, and optimize its use.
• The bioplastics market in North America is expanding and dominating as compared to other regional markets, owing to rising government initiatives for the use of sustainable products.
• The bioplastics market in Asia Pacific is expected to grow significantly during the forecast period, due to the presence of the food & beverages industry and other types of packaging in the region.

Read 178 Pages Research Report with Detailed ToC on "Global Bioplastics Market" by Products (Biodegradable {Polylactic Acid, Starch blends, Polybutylene Adipate Terephthalate (PBAT), Polybutylene Succinate (PBS), and Others} and Non-biodegradable {Polyethylene, Polyethylene Terephthalate, Polyamide, Polytrimethylene Terephthalate, and Others}), by Applications (Packaging, Agriculture, Consumer goods, Textile, Automotive & Transportation, Building & Construction, and Others), and Regions (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa) - Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2030

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Key Segments Covered

By Products

• Biodegradable
• Polylactic Acid
• Starch blends
• Polybutylene Adipate Terephthalate (PBAT)
• Polybutylene Succinate (PBS)
• Others
• Non-biodegradable
• Polyethylene
• Polyethylene Terephthalate
• Polyamide
• Polytrimethylene Terephthalate
• Others

By Applications

• Packaging
• Agriculture
• Consumer goods
• Textile
• Automotive & Transportation
• Building & Construction
• Others

By Regions

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa (MEA)

Other Related Reports:

• Bioplastic Composites Market by Types (Natural Polymers and Synthetic Polymers), Fiber Types (Wood Fiber Composites and Non-wood Fiber Composites), Applications (Transportation, Electrical & Electronics, Building & Construction, Aerospace & Defense, Consumer Goods, and Others), and Regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa)- Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028
• Global Bioplastics and Biodegradable Plastics Market by Type (PHA, PLA, PCL, PBS/PBSA), By Application (Packaging, Fibers, Agriculture, Medical, Others) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028
• Global Non-Biodegradable Bioplastics Market Report 2021 – Market Size, Share, Price, Trend and Forecast
• Global Bioplastic Packaging Market Report, History and Forecast 2014-2025, Breakdown Data by Manufacturers, Key Regions, Types and Application

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