What is the global market size of Bioplastics and Biopolymers Market?

Global Bioplastics and Biopolymers Market size was valued at USD 9.67 billion in 2021 and is poised to grow from USD 11.5 billion in 2022 to USD 45.94 billion by 2030, growing at a CAGR of 18.9% in the forecast period (2023-2030).

Global Bioplastics and Biopolymers Market Size, Share, Growth Analysis, By Application(Films, Bottles), By Type(Packaging, Consumer Goods) - Industry Forecast 2024-2031

Report ID: SQMIG15B2040 | Region: Global | Published Date: February, 2024
Pages: 282 | Tables: 70 | Figures: 77

Global Bioplastics and Biopolymers Market Dynamics

Bioplastics and Biopolymers Market Drivers

Increasing Popularity of Eco Friendly Packaging to Boost Bioplastics and Biopolymers Market

Consumers all across the globe are now aware of the side effects caused by plastics on the environment.The traditional plastics, which are mainly the part of society, requires a very long time to separate and degrade along with the time, and they lie in the landfill for significant time.Countering this problem, these biodegradable plastics and polymers are quickly separated and disposed and retained through recycling into normal framework. Moreover, the peace of the decay of biodegradable and biopolymer plastics.By the exercise of microorganism is far more swifter than the traditional plastics.

Bioplastics and Biopolymers Market Restraints

High Cost can Hinder the Market Growth

According to research, the expense created by bio based polymers is 20% to 100% higher than the traditional polymers.These greater expenses of bioplastics and biopolymers compared to traditional polymers and plastics restricts the development of the market in numerous ND uses and application segments.Higher R&D and creation costs because of limited scope creation and the huge cost contrast in contrast with customary oil based plastics are the key variables, which add to the low entrance of bioplastics in various industries.

Global Bioplastics and Biopolymers Market Report Snapshots

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Bioplastics and Biopolymers Market size was valued at USD 9.67 billion in 2019 and is poised to grow from USD 11.5 billion in 2023 to USD 45.94 billion by 2031, growing at a CAGR of 18.9% in the forecast period (2024-2031).

Competition in the global Bioplastics and Biopolymers market is expected to increase during the forecast period because new players are expected to enter in the global market and the number of Products compatible with Bioplastics and Biopolymers will also increase. Currently, only a few key players are providing their services in the global market but these numbers will increase in the upcoming years. 'BASF SE', 'NatureWorks LLC', 'Arkema SA', 'Braskem SA', 'Novamont SpA', 'DuPont de Nemours, Inc.', 'Corbion NV', 'Mitsubishi Chemical Holdings Corporation', 'Biome Bioplastics Limited', 'Eastman Chemical Company', 'Bio-On S.p.A.', 'Solvay SA', 'Total SE', 'Toray Industries, Inc.', 'Danimer Scientific, Inc.', 'Plantic Technologies Limited', 'Futerro SA', 'Kuraray Co., Ltd.', 'Innovia Films Limited', 'Cardia Bioplastics Limited', 'In March 2022, NatureWorks signed an agreement with ABB technology for automation of a 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.', 'In April 2022, Owner of the allegedly $100 million New Jersey deli, Hometown International, has consented to merge with Makamer, a producer of bioplastics. Your Hometown Deli in Paulsboro won't be run by the corporation that results from the merger, but a staff member there confirmed that the restaurant will stay open following the merger. It's unclear how the approximately 60 Hometown International shareholders will fare financially after the purchase.'

Consumers all across the globe are now aware of the side effects caused by plastics on the environment.The traditional plastics, which are mainly the part of society, requires a very long time to separate and degrade along with the time, and they lie in the landfill for significant time.Countering this problem, these biodegradable plastics and polymers are quickly separated and disposed and retained through recycling into normal framework. Moreover, the peace of the decay of biodegradable and biopolymer plastics.By the exercise of microorganism is far more swifter than the traditional plastics.

One of the major trends of bioplastics and biopolymer market is usage of starch piece products.To impart some level of biodegradability to the resulting composites, starch is generally incorporated into traditional plastics.The blends of the star are excellent biodegradable due to the several properties like thermal stability and low interference with the melt flow properties of most of the material.

Globally, North America is estimated to hold the largest global Bioplastics and Biopolymers market share in 2021. Main factors during this growth period is the presence of top market players such as BASF SE,Corbion NV and others. Along with this extensive views of bioplastics and biopolymers in various Indus industry sectors is helping North America to dominate this market.

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Global Bioplastics and Biopolymers Market Size, Share, Growth Analysis, By Application(Films, Bottles), By Type(Packaging, Consumer Goods) - Industry Forecast 2024-2031

Global Bioplastics and Biopolymers Market Dynamics

Global Bioplastics and Biopolymers Market Report Snapshots

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