Gmi Research's blog : Bioplastics & Biopolymers Market Size, Share | Industry Forecast till 2029

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Bioplastics and biopolymers market was valued at USD 9.3 billion in 2021 and is projected to touch USD 31.8 Billion in 2029, registering a CAGR of 16.6% during the Forecast period, 2022-2029

The factors driving the growth of Bioplastics & Biopolymers Market includes growing demand for biodegradable plastic solutions around the world, increasing consumption of processed and packaged food products, rising concerns related to environmental pollution and improvements in the living standards. Moreover, expansion of the pharmaceutical industry, Government policies promoting the use of bioplastics, increased adoption of advanced technologies by manufacturers and rapid urbanization, are some of the additional factors supplementing the market growth. In addition, the increasing investments by major companies on research and development, strategic mergers, and partnerships between key players, rising disposable incomes and growing population growth rates, are further contributing towards the market growth.

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However, growth of the Bioplastics & Biopolymers Market is hindered attributed to high prices of bioplastics.

The leading players operating in the Bioplastics & Biopolymers Market are CJ Cheildang (Yeild10 biosciences), Futamura, Danimer Scientific, FKUR, Corbion, Braskem, BASF SE, Nature Works and Novamont, among others.

Based on Type, the Bio-PET segment is estimated to hold the highest market share during the forecast period

As per the Bioplastics & Biopolymers Market Global Forecast, Bio-PET are flexible, durable and heat resistance and is increasingly used in packaging, automotive and consumer goods industry, are some of the factors responsible for the segment’s growth.

Based on Application, the Packaging & Bottles segment is projected to dominate the market over the forecast period

Increasing application of bioplastics in the production of bioplastics to produce agriculture foils, bags, and toys, is pushing Bioplastics & Biopolymers Market size.

Based on Region, the European region is anticipated to lead the market during the forecast period

Strict regulations regarding packaging, increasing demand for biodegradable packaging solutions, growing consumption of packaged food items, rapid urbanization, rising population growth rates and high per capita incomes, are some of the important factors augmenting the market growth in European region.

Key Developments

  • In 2021, NatureWorks partnered with IMA Coffee, which is a market leader in coffee handling processing and packaging to expand the market reach for high-performing compostable K-cup in North America.
  • In 2019, Braskem and Ledesma (Argentina), merged to provide Ledesma + Bio, which is a line of 100% sustainable notebooks made completely of sugarcane.

Market Segmentation

Segmentation by Type

  • Bio-PE
  • Bio-PET
  • Regenerated Cellulose
  • Poly Hydroxyalkonates

Segmentation by Application

  • Packaging & Bottles
  • Automotive
  • Textiles
  • Agriculture
  • Others

Segmentation by Region

  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

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On: 2022-12-21 08:22:48.879

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