Insights Into The Bioplastics And Biopolymers Market’s Growth Opportunities Through 2023-2032 – Includes Bioplastics And Biopolymers Market Size
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
Growing packaged food demand is expected to drive innovation in bioplastics and biopolymers manufacturing, driving the market during the forecast period.
The global bioplastics and biopolymers market is expected to grow from $8.53 billion in 2022 to $10.17 billion in 2023 at a compound annual growth rate (CAGR) of 19.15%. The bioplastics and biopolymers market size is expected to grow to $19.05 billion in 2027 at a CAGR of 17.00%.
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Global Bioplastics And Biopolymers Market Segments Include:
- By Type: Non-Biodegradable/Biobased, Biodegradable, Other Types
- By Raw Materials: Biomass, Natural Or Genetically Modified Organisms, Bio-Based Monomers, Petrochemicals
- By End-Use Industry: Packaging, Consumer Goods, Automotive And Transportation, Textiles, Agriculture And Horticulture, Other End-Use Industries
- By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global bioplastics and biopolymers market in 2021.
Major Market Players in the bioplastics and biopolymers market include NatureWorks LLC, Braskem, BASF, Total Corbion PLA, Novamont SpA, Biome Bioplastics, Mitsubishi Chemical Holding Corporation, Toray Industries.
Product innovations are the most popular trends in the bioplastics and biopolymers market. To maintain their market position, major market players are developing novel methods of producing bioplastics and biopolymers from algae. Algae-derived bioplastics and biopolymers are derived from plants that grow in water or on wet surfaces but lack stems and leaves. Green Science Alliance Co., Ltd., a Japan-based company specialising in the research and development of materials in energy and environmental science, for example, launched 100% biomass-based biodegradable plastic from Sargassum in December 2021. The Caribbean Sea is home to a type of seaweed known as sargassum. Green Science Alliance has successfully converted this sargassum waste into biomass biodegradable resin pellets and its moulding products, such as environmentally friendly and sustainable spoons. Because they use free Sargassum waste as a raw material in part, it is expected that plastic made from Sargassum will be inexpensive.
The Bioplastics And Biopolymers Global Market Report 2023 provides a bioplastics and biopolymers market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The bioplastics and biopolymers market forecast analyzes bioplastics and biopolymers market size, bioplastics and biopolymers market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Bioplastic is a moldable plastic substance made up of chemical compounds produced or synthesised by genetically modified microorganisms such as bacteria or plants. Biopolymers are polymers found in living organisms, such as cellulose in wood, silkworm silk, and mammalian collagen.
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