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

Biopolymers Market size was valued at USD 9.93 billion in 2019 and is poised to grow from USD 11.5 billion in 2023 to USD 37.15 billion by 2031, growing at a CAGR of 15.79% in the forecast period (2024-2031).

Biopolymers Market is fragmented and competitive. To increase their market share, the major companies in the international market are implementing a variety of business tactics, including mergers and acquisitions, expansions, and investments. Major players operating in the bioplastics & biopolymers market include NatureWorks, Braskem, BASF and Total Corbion. Prominent firms are investing in the launch of new products to increase their market presence and consumer base. 'BASF SE', 'NatureWorks LLC', 'Braskem SA', 'Total SE', 'Arkema SA', 'Corbion NV', 'Novamont S.p.A.', 'Mitsubishi Chemical Corporation', 'DuPont de Nemours, Inc.', 'Eastman Chemical Company', 'Biome Bioplastics Limited', 'Plantic Technologies Limited', 'Danimer Scientific, Inc.', 'Rodenburg Biopolymers BV', 'KANEKA Corporation', 'Bio-On S.p.A.', 'BioBag International AS', 'Innovia Films Ltd.', 'Toray Industries, Inc.', 'Solanyl Biopolymers Inc.'

The market is expanding because of a change in consumer preference for plastic products that are environmentally friendly. The commercial development of bioplastics is being aided by consumer knowledge of sustainable plastic options and inescapable efforts to eliminate the use of conventional, non-biodegradable plastics. Conventional plastics, which are mostly made of oil, take a very long time to separate or degrade and spend a considerable amount of time in landfills. When discarded, biodegradable plastics dissociate more quickly and are reincorporated into the environment's regular structure. Additionally, biodegradable polymers degrade far more quickly than conventional plastics do through the actions of microbes.

In order to replace traditional fossil-based plastic coatings used in grease-resistant fast-food packaging, new non-polluting biomaterials are being developed. The typical coating for grease-resistant paper includes plastic and other unfriendly substances like polyfluoroalkyl substances (PFASs), but the new prototype coating satisfies the functional needs of traditional grease-resistant packaging materials while also offering an environmentally sustainable solution. The end result is a significant step toward developing a sustainable, environmentally conscious biopolymer of the future. Natural polymers that are derived from seaweeds are used as biomass for the novel coating formulation. Depending on the application, these extracts are changed using a patented processing technology to create functional biopolymer sheets that may be sliced or coated onto different surfaces. The structure of the seaweed extracts is comparable to that of the natural fibres used to make paper. Innovative professional techniques used in the production of the biodegradable film increase the grease-resistance property of the seaweed by straightforward adjustments without impacting the biodegradability of recyclability of the coated paper.

Europe dominated the 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.