Authored By: Sarah
15 Jul 2024

 Bioplastics Market to grow by USD 253983.2 million between 2024-2028

According to a research report “ Bioplastics Market” by Type (Non-biodegradable, Biodegradable) Application (Packaging and food service, Agriculture and horticulture, CG and HA, Automotive, Others) Geography (Europe, North America, APAC, Middle East and Africa, South America)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 253983.2 million at a CAGR of about 39.04% during the forecast period. The global bioplastics market is experiencing significant growth due to the increasing adoption of renewable resources, biomass, and bio-based raw materials like starch and vegetable crops. These factors are enabling manufacturers to decrease their reliance on petroleum-based plastics in applications such as packaging and food service. Biomass, which includes organic materials like grass, trees, and plants, is driving the shift towards bioplastics derived from renewable sources. The abundant global supply of bioplastics raw materials, which are renewable in origin, contrasts favorably with the limited availability of petroleum and fossil-based alternatives..

Browse market data tables, figures, and in-depth TOC on “Bioplastics Market” by Type (Non-biodegradable, Biodegradable) Application (Packaging and food service, Agriculture and horticulture, CG and HA, Automotive, Others) Geography (Europe, North America, APAC, Middle East and Africa, South America) Global Forecast to 2028.

 View detailed Table of Content- Click here

By Type, the Non-biodegradable segment is projected to dominate the market size in 2024.

Bioplastics have gained significant traction in the packaging industry, accounting for over 60% of its applications. These eco-friendly alternatives are utilized in manufacturing bottles, cups, pots, films, and other packaging solutions. Rigid and flexible bioplastic packaging are commonly employed in sectors such as food, cosmetics, and premium brands, particularly for organic produce and branded products with specific requirements. Key industries include fresh food, dry snacks, candy, bakery goods, juice bottles, and meat trays. Bioplastic packaging is a preferred choice for beverage cups, films, and card stock coatings due to its sustainability and demand for eco-conscious solutions.

By Application, Packaging and food service  segment is expected to hold the largest market size for the year 2024.

The non-biodegradable bioplastics segment, including bio-PET and bio-PE, is poised for substantial expansion in the bioplastics market. Despite their similarities to fossil counterparts, these materials contribute to reduced carbon emissions and can be mechanically recycled. The shift towards sustainable alternatives is driving demand, although growth will trail that of biodegradable bioplastics due to their non-degradable nature. Notably, the residential and commercial sectors are increasingly adopting non-biodegradable bioplastics.

Europe is forecasted to hold the largest market size by region in 2024.

The bioplastics market represents a significant business opportunity, driven by increasing consumer awareness and demand for eco-friendly alternatives to traditional plastics. Bioplastics are derived from renewable biomass sources, such as corn starch, sugarcane, and cellulose, making them a sustainable choice for various industries. This shift towards biodegradable and compostable solutions is expected to fuel market growth, with applications ranging from packaging and agriculture to automotive and textiles.

The Bioplastics Market t growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • Arkema Group
  • 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 S.p.A.
  • Resonac Holdings Corp.
  • Saudi Basic Industries Corp.
  • Solvay SA
  • Sulzer Ltd.
  • Teijin Ltd.
  • Toray Industries Inc.
  • Toyota Motor Corp.
  • Trinseo PLC
.

For insights on company offerings- Request a sample report!

Research Analysis Overview

In the evolving landscape of sustainable materials, bioplastics have emerged as a significant alternative to traditional fossil fuel-based plastics. Bioplastics, derived from renewable feedstocks such as Polypropylene, Polyethylene, Cellulose acetate, Polycaprolactone, PHA, PBAT, PBS, and Starch blends, offer eco-friendly properties that mitigate environmental issues. The composting infrastructure plays a crucial role in the biodegradability of these materials. Bioplastics find extensive applications in various sectors, including food items packaging and electronics industry. As the world grapples with the need for cheaper alternatives and a paradigm shift towards circular economy, bioplastics have gained traction. Biodegradable plastics, with their ability to decompose naturally, have become a preferred choice for numerous industries. Companies like Danone have adopted flexible packaging made from bioplastics to reduce carbon dioxide emissions. Hybrid material innovations continue to push the boundaries of bioplastics, offering enhanced properties and versatility. The market for bioplastics is poised for growth, driven by increasing awareness of environmental issues and the need for sustainable solutions. Production halts of fossil fuel-based plastics due to their negative impact on nature further bolster the demand for bioplastics.

Market Research Overview

The bioplastics market encompasses a range of eco-friendly packaging solutions, including refuge bags, shopping bags, and fresh food packaging. Bioplastics are derived from renewable feedstocks such as castor oil, corn, and sugarcane, and include polymers like Polyvinyl Chloride (PVC), Polyethylene Furanoate (PEF), Polyethylene Terephthalate (PET), Polytrimethylene Terephthalate (PTT), Polyamide, Polypropylene, Polyethylene, Cellulose Acetate, Polycaprolactone, PHA, PBAT, PBS, and starch blends. These biodegradable alternatives are gaining popularity due to environmental concerns and production halts of conventional plastics. Bio-based packaging applications extend to various sectors, including automobiles, consumer goods, electronics industry, and construction. Bioplastics offer eco-friendly properties, reducing carbon dioxide emissions and contributing to the circular economy. Key players in the market include Arkema and Braskem. Biodegradable plastics are being used for non-food products, such as bottles, containers, jars, films, and sheets, as well as for beverage bottles, medicines, and food items. Hybrid material innovations are also emerging, combining natural fibers with nanoparticles for enhanced properties. The shift towards bioplastics is a paradigm shift in the packaging industry, addressing both environmental issues and the need for cheaper alternatives. The market is growing rapidly, with companies like Nestlé, Danone, and Flexible Packaging adopting bioplastics in their production processes. The bioplastics market is also expanding internationally, with initiatives in the State of Maine, US, and Business Standard reporting on its growth.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

Read News Read Less
Interested in this report?
Get your sample now!
Technavio
Document