Biopolymers Market Size, Share, Growth Analysis, By Type(Biodegradable and Non-Biodegradable/Biobased), By Molding Process(Extrusion, Injection), By Application(Films, Bottles), By End Users(Packaging, Consumer Goods) - Industry Forecast 2024-2031

Europe dominated the Global Biopolymers Market in 2021. The region's market is expanding as a result of increased usage of bioplastics and biopolymers in sectors including packaging, consumer products, and transportation. Consumer preference for bio-based and biodegradable items has risen as a result of rising environmental concerns and the implementation of strict environmental regulation. By 2028, all used packaging must be recyclable and reusable, thanks to initiatives being implemented in the area. During the forecast period, investments in research & development of cutting-edge materials and technological innovation will further contribute to market expansion. The rapid use of plastics and growing consumer awareness of bio-based products are the region's key market-driving factors. Consumers cannot employ the techniques under the European Union's directive against plastic bags. The use of standard plastic bags for packing fruits and vegetables has been outlawed in France under the energy transition for green growth legislation. Consequently, it is anticipated that the limits that restrict the use of traditional plastic bags will accelerate the expansion of the biopolymers market sectors in the European regions.

The Asia-Pacific region is anticipated to register the highest CAGR during the forecast period. Due to rising consumer demand for environmentally friendly plastic goods and the region's rapidly expanding population, APAC has the fastest-growing bioplastics & biopolymer market. The expansion of several end use businesses in this area has been fueled by rising consumer purchasing power. During the forecast period, these factors are anticipated to increase demand for bioplastics & biopolymers in the area. China is the largest market for biopolymers in the Asia-Pacific region.Increases in consumer awareness, population increase, and need for sustainable packaging solutions, particularly in the e-commerce industry, all contribute to the market's expansion. Due to strict environmental restrictions and rising demand for environmentally friendly solutions, there has been an increase in the use of bioplastics and biopolymers in the agriculture and textile industries.