Bioplastics Market Analysis 2021-2031 | Trends and Top Players
The bioplastics market size is projected to reach US$ 19.43 billion by 2031 from US$ 7.20 billion in 2023. The market is expected to register a CAGR of 13.2% in 2023–2031. The increasing focus on innovation and technological advancement is likely to remain key bioplastics market trends.
Bioplastics Market Analysis
The growing environmental concerns and a global endeavor to lessen pollution is driving the demand for biodegradable plastics in the packaging sector across the globe. In addition, the demand for bioplastics in the packaging industry is expected to grow due to the rising need for different healthcare products. Further, it’s easy for manufacturers to manufacture bioplastic packaging because packaging produced from biopolymers can usually be produced employing standard plastics processing technology. The growing demand for eco-friendly plastics in the packaging sector is a major factor expected to boost the bioplastics market growth across the globe over the forecast period.
Bioplastics Market Overview
Bioplastics are plastic materials that are made up of renewable biomass sources, which include vegetable fats and oils, corn starch, straw, woodchips, sawdust, and recycled food wastes, among others. Bioplastics are being increasingly used to reduce the problem of plastic waste that is suffocating the planet and contaminating the environment; along with this, the production of bioplastic requires 65% less energy than conventional petroleum plastic.
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Bioplastics Market: Strategic Insights
Bioplastics Market
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![](https://www.theinsightpartners.com/assets/images/rd_int_img/cagr.png)
CAGR (2023 - 2031)
13.2%
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Market Size 2023
US$ 7.20 Billion
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Market Size 2031
US$ 19.43 Billion
Market Dynamics
GROWTH DRIVERS
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FUTURE TRENDS
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OPPORTUNITIES
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Key Players
- Teijin Limited
- Toray Industries, Inc.
- Sabic
- BASF SE
- Total Corbion PLA
- Braskem S.A.
- Biome Bioplastics
- Mitsubishi Chemical Corporation
- Novamont S.P.A.
- Natureworks LLC.
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
Type
- Biodegradable and Non-biodegradable
Application
- Packaging
- Agriculture
- Consumer Goods
- Automotive & Transportation
- Textiles
- Building & Construction
- Others
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Bioplastics Market: Strategic Insights
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CAGR (2023 - 2031)13.2% -
Market Size 2023
US$ 7.20 Billion -
Market Size 2031
US$ 19.43 Billion
![](https://www.theinsightpartners.com/assets/images/rd_int_img/tip-logo.jpg)
Market Dynamics
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Key Players
- Teijin Limited
- Toray Industries, Inc.
- Sabic
- BASF SE
- Total Corbion PLA
- Braskem S.A.
- Biome Bioplastics
- Mitsubishi Chemical Corporation
- Novamont S.P.A.
- Natureworks LLC.
Regional Overview
![](https://www.theinsightpartners.com/assets/images/rd_int_img/ig-regional.png)
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
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- Biodegradable and Non-biodegradable
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- Packaging
- Agriculture
- Consumer Goods
- Automotive & Transportation
- Textiles
- Building & Construction
- Others
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Bioplastics Market Drivers and Opportunities
Rising Demand for Bioplastics in Various Application Fields
The rising demand for bioplastics in various application fields is an important driver for the bioplastics market. Bioplastics are used in numerous end-use industries such as medical, automotive, and transportation, packaging, agriculture, consumer goods, textiles, building and construction, and others. In the medical sector, bioplastics have comprehensive applications in wound management, tissue engineering, drug delivery, orthopedic devices, and manufacturing of fibrous and porous scaffolds. In the automotive sector, bioplastics offer reduced dependency on fossil resources, reduction in the cost of manufacturing, and significantly reduced carbon footprint. Further, bioplastics are utilized for cosmetics rigid packaging of compact powders, creams, lipsticks, and beverage bottles.
Stringent Government Laws and Regulations on Traditional Plastic Use
Numerous countries across the globe have implemented plastic-related laws and regulations. Various countries are making efforts to ban single-use plastic and promote sustainable alternatives to it. This will help in mitigating the ill effects on human life and the environment. Hence, the stringent government laws and regulations on traditional plastic use are expected to offer more lucrative opportunities for the bioplastics market growth.
Bioplastics Market Report Segmentation Analysis
Key segments that contributed to the derivation of the bioplastics market analysis are type and application.
- Based on type, the market is segmented into biodegradable and non-biodegradable. The biodegradable segment held a larger market share in 2023.
- By application, the market is segmented into packaging, agriculture, consumer goods, automotive & transportation, textiles, building & construction, and others. The packaging segment held the largest share of the market in 2023.
Bioplastics Market Share Analysis by Geography
The geographic scope of the bioplastics market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
The global market was dominated by Asia Pacific. Europe is a second major contributor to the global bioplastics market share. In North America, bioplastics are widely consumed in the packaging sector in the form of plastic bottles and bags. Production and consumption of bioplastics are expected to grow in the region, primarily in food packaging applications. Unlike traditional plastics, bioplastics are obtained from renewable sources. The automotive industry in this region is one of the most advanced industries globally due to substantial investments in infrastructure, R&D activities, and new production facilities. Bio-polyamides (Bio-PA), polylactic acid (PLA), and bio-based polypropylene (Bio-PP) are bioplastics that are highly used in automotive manufacturing. These factors are driving the automotive bioplastics market growth.
Bioplastics Market Report Scope
Report Attribute | Details |
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Market size in 2023 | US$ 7.20 Billion |
Market Size by 2031 | US$ 19.43 Billion |
Global CAGR (2023 - 2031) | 13.2% |
Historical Data | 2021-2022 |
Forecast period | 2024 - 2031 |
Segments Covered |
By Type
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Regions and Countries Covered | North America
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Market leaders and key company profiles |
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Bioplastics Market News and Recent Developments
The bioplastics market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for speech and language disorders and strategies:
- SABIC, a global leader in the chemical industry, launched today a new portfolio of bio-based ULTEM™ resins that offer sustainability benefits while delivering exactly the same high performance and processability as incumbent ULTEM materials. These breakthrough polyetherimide (PEI) materials are the first certified renewable, high-performance, amorphous polymers available in the industry. (Source: SABIC, News and Media/Latest News/October 2021)
- Toray Industries, Inc., announced today that it has developed a nylon 510 (N510) fiber that incorporates 100% ‘biobased synthetic polymer content’ as defined under section 3.1.5 of ISO 16620-1: 2015, the international standard for the biobased content of plastics. Ecodear N510 will be the first 100% plant-based nylon fiber in Toray’s Ecodear lineup. (Source: TORAY INDUSTRIES, INC., Newsroom/ January 2022)
Bioplastics Market Report Coverage and Deliverables
The “Bioplastics Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed Porter’s Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
![Report Coverage](https://www.theinsightpartners.com/assets/rdimages/report_coverage.png)
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
![Segment Covered](https://www.theinsightpartners.com/assets/rdimages/segment_covered.png)
Segment Covered
Type and Application
![Regional Scope](https://www.theinsightpartners.com/assets/rdimages/regional_scope.png)
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
![Country Scope](https://www.theinsightpartners.com/assets/rdimages/country_scope.png)
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States