Global Starch Based Bioplastics Market Size, Share, Growth Analysis, By Technology(Thermoplastic starch, blends), By Application(Packaging, agriculture) - Industry Forecast 2024-2031

Global Starch Based Bioplastics Market size was valued at USD 4.03 billion in 2019 and is poised to grow from USD 7.67 billion in 2023 to USD 23.8 billion by 2031, growing at a CAGR of 14.1% in the forecast period (2024-2031).

Global Starch Based Bioplastics Market is highly fragmented, with many small and large players operating in the market. The market is dominated by a few major players who account for a significant share of the market. These companies are investing heavily in research and development to develop new and innovative bioplastic materials that offer superior performance and environmental benefits compared to traditional plastics. They are also expanding their production capacities to meet the growing demand for bioplastics from various industries, including packaging, consumer goods, automotive, and agriculture. In addition to these major players, there are many other companies that operate in the starch-based bioplastics market, including smaller and regional players that specialize in specific types of bioplastics or serve niche markets. These companies are also investing in research and development to develop new materials and expand their market presence. 'Novamont S.p.A.', 'BASF SE', 'Total Corbion PLA', 'Roquette Frères', 'NatureWorks LLC', 'Arkema S.A.', 'Mitsubishi Chemical Corporation', 'Biome Technologies PLC', 'Plantic Technologies Ltd.', 'Corbion N.V.', 'Danimer Scientific', 'DuPont de Nemours, Inc.', 'Toray Industries, Inc.', 'Tereos S.A.', 'Braskem S.A.', 'Tate & Lyle PLC', 'Synbra Technology B.V.', 'Cardia Bioplastics Limited', 'Fkur Kunststoff GmbH', 'Green Dot Bioplastics Inc.'

Government regulations and policies are key drivers of the global starch-based bioplastics market, as they play a crucial role in promoting the use of biodegradable and compostable materials and creating a supportive regulatory environment for the bioplastics industry. One major factor driving government regulations and policies related to bioplastics is the growing concern about plastic waste and its impact on the environment. Many countries are implementing measures to reduce plastic waste and promote more sustainable alternatives, including biodegradable and compostable materials. For example, the European Union has set ambitious targets to reduce plastic waste and increase the use of sustainable materials, including a goal to ensure that all plastic packaging in the EU is recyclable or reusable by 2030. The EU has also implemented a ban on single-use plastics, which includes items like plastic cutlery, plates, and straws, and is promoting the use of biodegradable and compostable alternatives. Similarly, countries like India and China are implementing policies to promote the use of bioplastics and reduce plastic waste. In India, for example, the government has launched a campaign to reduce single-use plastics and is promoting the use of biodegradable and compostable materials. China has also introduced regulations to limit the use of plastic bags and promote the use of biodegradable materials. In addition to promoting the use of biodegradable and compostable materials, government regulations and policies can also support the growth of the bioplastics industry by providing financial incentives and research funding. For example, many countries offer tax credits or subsidies for companies that produce or use bioplastics, which can help to offset some of the costs associated with these materials. Governments may also provide funding for research and development of new bioplastic technologies, which can help to drive innovation and improve the performance and cost-effectiveness of these materials.

Growing demand for eco-friendly packaging: There is a growing trend towards eco-friendly packaging, which is driving the demand for starch-based bioplastics in the global market. Consumers are increasingly aware of the environmental impact of plastic waste and are seeking sustainable alternatives to traditional packaging materials. This trend is particularly evident in the food and beverage industry, where companies are looking for ways to reduce their carbon footprint and improve their environmental performance. Starch-based bioplastics offer several benefits over traditional plastic packaging. They are made from renewable resources, such as corn or potato starch, which are biodegradable and compostable. Unlike traditional plastics, which can take hundreds of years to break down, starch-based bioplastics can biodegrade in a matter of months, reducing the amount of plastic waste that ends up in landfills or oceans. In addition to the environmental benefits, starch-based bioplastics offer several practical advantages for packaging. They have similar physical and mechanical properties to traditional plastics, making them suitable for a wide range of applications. They are also versatile and can be molded into different shapes and sizes, making them suitable for a variety of packaging needs.

Europe is the largest market for starch-based bioplastics, accounting for over 40% of the total market share. Europe has a well-established regulatory framework promoting the use of sustainable materials, including bioplastics. The European Union has set ambitious targets for reducing plastic waste and increasing the use of bioplastics, which is driving demand for starch-based bioplastics. Starch-based bioplastics are increasingly being used in various industries, including packaging, consumer goods, agriculture, and automotive. The packaging industry is Europe's largest end-user of starch-based bioplastics, driven by increasing demand for sustainable packaging solutions. Europe has a well-developed infrastructure for waste management and recycling, which supports the growth of the starch-based bioplastics market. The region has established collection and recycling systems for bioplastics, which helps to reduce waste and promote the circular economy. Europe is home to several key players in the starch-based bioplastics market, including Novamont, BASF SE, and Corbion NV. These companies are investing in research and development to improve the performance and reduce the cost of starch-based bioplastics, which is expected to drive further growth in the market.