USD 11615.5 billion
Bioplastics Market Size, Share, Growth Analysis, By Raw Material (Sugar Cane, Potato), By Product Type (Biodegradable, Non-Biodegradable), By End-use Industry (Packaging, Automotive & Transport), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15A2253 |
Region:
Global |
Published Date: August, 2024
Pages:
184
|Tables:
65
|Figures:
77
Bioplastics Market Insights
The Global Bioplastics Market size was valued at USD 11.6 Billion in 2022 and is poised to grow from USD 13.83 Billion in 2023 to USD 56.36 Billion by 2031, at a CAGR of 19.20% over the forecast period (2024–2031).
The bioplastics market is driven by a rise in demand for sustainable plastics by the packaging industry. Biodegradable polymers are used for several applications, but most importantly they are used in the packaging sector. With the rise in the commercial industry, packaging has become the most essential part. Bio-based polymers can replace plastic, therefore reducing plastic pollution. Further, the growing demand for compostable plastics to enhance the quality of the soil boosts the market growth.
Plastics finds wide applications in agriculture and horticulture. They are used in manufacturing greenhouses, silos, and storage bags. In addition, the F&B industry is witnessing an increase in demand for polymers based on renewable feedstock. Besides, the demand for ready-to-eat food has grown in developed and developing economies. Consequently, manufacturers of these products are striving hard to identify packaging materials that are safe and have little to no impact on the environment. These product strategies are expected to increase the global market share of bioplastics.
Market Snapshot - 2024–2031
Global Market Size
Largest Segment
Biodegradable
Fastest Growth
Biodegradable
Growth Rate
19.20% CAGR
Global Bioplastics Market ($ Bn)
Country Share for Europe (%)
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Bioplastics Market Segmental Analysis
The Global Bioplastics Market is segmented into raw material, product type, end-use industry, and region. By raw material, the market is categorized into sugarcane and potato. Depending on the product type, it is classified into biodegradable and non-biodegradable. According to end-use industry, the market is bifurcated into packaging and automotive & transport. Region-wise, it is analyzed across North America, Latin America, Asia-Pacific, Europe, and Middle East & Africa.
Analysis By Product Type
The bioplastics market is dominated by biodegradable bioplastics, which are in high demand from the textile, packaging, consumer goods, and agriculture and horticulture sectors. Biodegradable polymers are supported by these industries due to their performance and sustainability. Furthermore, as environmental consciousness rises due to increased concerns about plastic waste and its adverse impacts on ecosystems and human health, governments and consumers are searching for sustainable alternatives. Businesses are investing in biodegradable alternatives due to campaigns to limit or ban single-use plastics.
Conversely, non-biodegradable plastics are widely used in consumer products, food packaging, and automotive industries. Moreover, their unparalleled durability, minimal production expenses, numerous applications, and intrinsic resistance to degradation ensure prolonged product lifespans, becoming indispensable in industries such as construction and manufacturing. This will drive the segment's expansion during the evaluation period.
Analysis By End-use Industry
The packaging segment is the largest in the bioplastics industry, accounting for nearly 61.7% of total sales. Numerous packaging products, such as films and sheets, food and beverage packaging, household care products, and packaging for personal care items, are made of bioplastics. The bioplastics PLA, PBAT, PET, PBS, starch blends, and PE are the most utilized in packaging. Manufacturers are being compelled to include bioplastics in their packaging due to the growing global waste crisis and consumer demands for ecologically friendly packaging.
Automotive & transport place a high priority on reducing the vehicle's weight and fuel consumption. As they are ideal for this application, bio-based polymers are highly sought after in the automotive industry. Due to these plastics' excellent strength-to-weight ratio, durability, resistance to corrosion, and self-heating qualities, they are becoming more and more essential for use in automotive applications.
Global Bioplastics Market Size By Product Type
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Bioplastics Market Regional Insights
With a market size of USD 3.64 Billion, the bioplastics industry in 2023 witnessed a 48.6% share owned by Europe. Europe is a major center since it sets the global standard for product consumption as well as R&D. Roughly 25% of all bioplastics are now produced in the region, according to data from European Bioplastics. Moreover, strong demand for bio-based packaging products from local manufacturers and a thriving automotive sector are expected to drive market expansion. In addition, the research environment in Europe is highly developed, with many companies and institutions focused on the development of new bioplastics technologies, and research surrounding the potential regulatory impacts. Research focusing on such issues has made enormous progress in functionalities and application ranges of bioplastics, starting from performance features right up to ecologically friendly production techniques.
Over the forecast period, the market is expected to grow steadily in North America due to the region's growing requirement for electrical items and lightweight auto parts. The consumer goods vertical will also drive market expansion in the region because affluent consumers typically choose better-quality products over cheaper ones. Bioplastics are being used by different industries-manufacturing various commodities, such as in packaging to make ecologically friendly and aesthetically beautiful containers. Consumers seek quality products that will satisfy their high standards of quality and, at the same time, show responsible regard for environmental sustainability. Industry is rising because people look for high-quality and greener products; therefore, bioplastics have started making their existence quite prominent in an increasing number of things.
Global Bioplastics Market Size By Geography
- Largest
- Fastest
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Bioplastics Market Dynamics
Drivers
Growing Industry Demand for Eco-Friendly Plastics in Packaging Sector
- Despite being utilized in a wide range of industries, biodegradable polymers are most visible in the packaging industry due to their qualities being like those of conventional polymers. They are used in both flexible and rigid packing. Due to the increase in worldwide e-commerce, future packaging requirements are anticipated to call for a significant amount of material. As bio-based polymers are easily substituted for conventional plastics, using them can be a great way to reduce plastic pollution.
Increasing Demand for Biodegradable Polymers to Improve Quality of Soil
- Plastics is widely employed in horticulture and agriculture. They are used to make storage bags, bins, greenhouses, and silos, among other things. In addition, modern semi-intensive and intensive farming practices use a lot of mulching films and harvest-protection bags to regulate soil moisture and nutrient content, stop weed growth, and shield crops from pests.
Restraints
Costly in Comparison to Conventional Plastics
- While there is no denying the benefits of biodegradability, many bioplastic grades require extremely complex industrial composting techniques to break down, and only a few nations have the gear to handle them. They could damage the environment if they wind up landfills or contaminate recycling products. This means that eliminating these polymers necessitates a distinct process, which drives up the cost of the finished good.
Infrastructure Needed for Composting Process May Restrict Biodegradability of Bioplastics
- Biodegradability, which often necessitates certain industrial composting conditions that are not widely available, is one of the primary advantages of bioplastic. Certain varieties of bioplastics need a controlled environment with exact temperature, moisture content, and microbial activity for effective breakdown. There is a lack of infrastructure for these types of composting operations, and only a few countries have made the required expenditures in the buildings and equipment. This restriction may make it more difficult for the bioplastics industry to grow in places lacking the necessary infrastructure for composting, as bioplastics could end up in landfills or pollute traditional recycling streams.
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Bioplastics Market Competitive Landscape
The key players within the market are taking steps ahead to sustain their position. They are following various strategies which include mergers & acquisitions, product development, R&D, product innovation, partnerships, and collaborations. For instance, Novamont is one of the key players in this market. The company has four production sites, two research facilities, and a distribution network in 25 countries. In addition, it has created five unique technologies and submitted over 1800 patent applications. It devotes about five percent of its annual revenue to R&D and innovation, and it backs a bio-economy model that is based on efficient resource use and regeneration.
Top Player’s Company Profiles
- Braskem
- BASF SE
- Novamont S.p.A.
- Arkema S.A.
- Corbion N.V.
- Danimer Scientific
- Synbra Holding bv
- Kaneka Corporation
- Plantic Technologies Ltd.
- API S.p.A.
- AVANTIUM
- Toray Industries Inc.
- Mitsubishi Chemical Corporation
- NatureWorks LLC
- Total Corbion PLA
Recent Developments
- May 2023: TotalEnergies Corbion and Changsu Industrial jointly announced their cooperation in developing the application of sustainable biobased BOPLA films. Through this agreement, TotalEnergies Corbion will be able to boost the revenue generated by its biobased products.
- April 2023: Solvay declared that it would expand its research and innovation footprint in the US through a strategic alliance with Ginkgo Bioworks. The collaboration seeks to develop innovative, eco-friendly biopolymers and open the North American market for them.
- April 2023: NatureWorks LLC announced that it will launch a new biopolymer-based product called Ingeo 6500D. The product is expected to enhance the resilience and softness of biobased nonwovens used in hygiene applications.
Bioplastics Key Market Trends
Growing Opportunities will Arise from Automobile Sector's Increased Demand
- The automobile industry's main objective and challenge is reducing vehicle weight to reduce pollutants and fuel consumption. Major automakers are using smart polymers such as bio-PA and bio-PP, which have emerged as practical materials for achieving this goal, to lessen their environmental impact and increase the strength of automobile components.
Bioplastics Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest Analysis, rising customers’ awareness of the harmful environmental effects of traditional plastics and their demand for more ethical and sustainable alternatives have an impact on the market as well. According to forecasts, the trend of using bioplastics instead of conventional plastics will continue, and more companies will be contributing to the development of new bioplastic materials through R&D. The objective is to produce bioplastics with improved mechanical and barrier properties while maintaining their biodegradability and composability.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 11.6 Billion |
| Market size value in 2031 | USD 56.36 Billion |
| Growth Rate | 19.20% |
| Base year | 2023 |
| Forecast period | 2024–2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Bioplastics Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Bioplastics Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Bioplastics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Bioplastics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Bioplastics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Bioplastics Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Bioplastics Market Report Snapshots
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