Authored By: Sarah
23 Oct 2023

Emergence of bio-based and renewable raw materials and changing consumer preference toward eco-friendly packaging is boosting Bioplastics Market  Forecast for 2023-2027|Technavio

The Bioplastics Market is likely to experience steady growth because of the emergence of bio-based and renewable raw materials and changing consumer preference toward eco-friendly packaging. Rising at a CAGR of 27.53%, the market is estimated to have an incremental growth of USD 114242.17 Mn in revenue from 2003 to 2027.

Leading market brands that come with a wide range of offerings comprise names like Arkema SA, BASF SE, Biome Bioplastics Ltd., Braskem SA, Cargill Inc., Corbion NV, DuPont de Nemours Inc., Evonik Industries AG, Finasucre SA, FKuR Kunststoff GmbH, Futerro SA, Koninklijke DSM NV, KURARAY Co. Ltd., Novamont Spa, Resonac Holdings Corp., Saudi Basic Industries Corp., etc.Our report comes with a profiled analysis of the market pioneers

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Snapshot of Bioplastics Market

Technavio Analyst Quoted~ " prominence of bio-based and renewable raw materials is propelling the market advancement of the Bioplastics worldwide ” 

Technavio’s recent analysis of the Bioplastics Market includes a detailed examination of its revenue forecasts, including market drivers and challenges, key market participants, and growth opportunities along with a detailed study of the market segments in Europe, North America, APAC, Middle East and Africa, and South America, geographically during the forecast period. Download our sample report to discover more aspects of the market growth with data-backed analysis.

The cost-effectiveness of conventional plastic over bioplastics and the low durability of bioplastics are expected to hinder the growth of the market. However, the consumption of bioplastics in novel applications and the availability of cheap bio-based raw materials will have a positive impact on the bioplastics market during the forecast period.

Technavio’s analysis of the Bioplastics Market also includes:

  • CAGR of the market during the forecast period 2023-2027
  • Detailed information on factors that will drive bioplastics market growth during the next five years
  • Precise estimation of the bioplastics market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the bioplastics market industry across 
  • A thorough analysis of the market’s competitive landscape
  • Comprehensive details of factors that will challenge the growth of the Bioplastics Market.
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