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What Growth Rate is the Bioplastics Market Anticipated to Experience from 2025-2034?

The scale of the bioplastics market has experienced swift expansion in the past few years. The market’s growth is expected to soar from $10.84 billion in 2024 to $12.79 billion in 2025, reflecting a compound annual growth rate (CAGR) of 18.0%. Factors contributing to the growth observed in the historical period include environmental problems, government policies, rising oil prices, a shift towards consumer preference for green products, as well as an upsurge in demand for eco-friendly packaging.

The market size of bioplastics is predicted to undergo swift expansion in the coming years. With an estimated value of $24.11 billion in 2029 and a compound annual growth rate (CAGR) of 17.2%, the market’s growth in the forecasted period can be credited to the burgeoning food and beverage industry, the expanding automotive sector, international trade deals, and growth in emerging markets. Major trends during this forecasted period encompass innovative feedstock sourcing, the use of bio-based materials for durable goods, industrial collaborations, and a concentrated focus on carbon neutrality.

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What Drivers Are Enhancing the bioplastics Market’s Growth?

The bioplastics market is anticipated to grow owing to the rising consciousness about the importance of bioplastics. Across the globe, there is a surge in awareness about the harmful effects of pollution resulting from the production and disposal of plastics. Pew Charitable Trusts and SYSTEMIQ, Ltd.’s study reveals that the quantity of plastic waste ending up in the oceans is projected to nearly triple by 2040 to 29 million metric tons if no preventative measures are taken. This significantly contributes to escalating pollution levels, necessitating a shift towards sustainability among consumers. For instance, the Ipsos Global Survey on Attitudes towards Single Use Plastics disclosed in 2022 that at least 83% of urban Indians, equivalent to 8 out of 10, showed their support for a total ban on single use plastics (SUP). Therefore, this enhanced awareness is likely to persuade consumers to opt for bioplastics, providing a boost to the bioplastics market.

What Segments Are Central to the Bioplastics Market?

The bioplastics market covered in this report is segmented – _x000D_

_x000D_

1) By Type: Biodegradable, Non-Biodegradable_x000D_

2) By Distribution Channel: Online, Offline_x000D_

3) By Application: Rigid Packaging, Flexible Packaging, Textile, Agriculture And Horticulture, Consumer Goods, Automotive, Electronics, Building And Construction, Other Applications_x000D_

_x000D_

Subsegments:_x000D_

1) By Biodegradable: Starch-Based Bioplastics, Polylactic Acid (PLA), Polyhydroxyalkanoates (PHA), Cellulose-Based Bioplastics _x000D_

2) By Non-Biodegradable: Bio-Based Polyethylene (Bio-PE), Bio-Based Polyethylene Terephthalate (Bio-PET), Bio-Based Polypropylene (Bio-PP), Bio-Based Nylon

What Emerging Trends Are Influencing Bioplastics Industry Dynamics?

Firms in the sector are prioritizing expanding their investment in eco-friendly bioplastics. Bioplastics are crafted from decomposable and sustainable resources such as proteins, starch, and polylactic acid (PLA). The accessibility of products and suppliers has grown over time, resulting in an increased application of bioplastics in worldwide commercial markets. As an illustration, Vikas Ecotech Limited announced in January 2022 their intentions to fund the eco-conscious BioPlastics (PHA) technology, and they are in the final stages of securing a Technology Collaboration/Joint Venture with Aurapha Private Ltd. (the ‘AuraPHA’) to manufacture Biodegradable Plastics.

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Which Geographic Locations Are Critical to the Growth of the Bioplastics Market?

Asia-Pacific was the largest region in the bioplastics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the bioplastics market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The Bioplastics Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the bioplastics market, its market share, and analyzes key competitors along with their market positions.

The Table Of Content For The Bioplastics Market Include

1. Bioplastics Market Executive Summary

2. Bioplastics Market Segments

3. Bioplastics Market Size And Template Market Growth Rate

4. Key Bioplastics Market Trends

5. Major Bioplastics Market Drivers

……

25. Key Mergers And Acquisitions In The Bioplastics Market

26. Top Bioplastics Companies

27. Bioplastics Market Opportunities And Strategies

28. Bioplastics Market, Conclusions And Recommendations

29. Appendix

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