According to Stratview Research’s latest report, titled “Bioplastics & Biopolymers Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2022-2028”, the Bioplastics & Biopolymers Market is segmented by Type (Biodegradable, Non-biodegradable/Bio-based), by End-Use Industry Type (Packaging, Consumer Goods, Automotive & Transportation, Textiles, Agriculture & Horticulture, and Others), and by Region (North America, Europe, Asia-Pacific, and the Rest of the World). This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the Bioplastics & Biopolymers Market.

Market Insights

According to analysts, the bioplastics & biopolymers market was estimated at USD 10.66 billion in 2021 and is likely to grow at a CAGR of 22.23% during 2022-2028 to reach USD 43.72 billion in 2028.

What are bioplastics?

Plastic materials produced from renewable biomass sources are known as bioplastics. They are generally made up of corn starch, straw, woodchips, sawdust, vegetable fats and oils, and recycled food waste and have vast applications in the packaging industry.

COVID-19 IMPACT

Covid-19 had resulted in lockdowns and restrictions, stricter border controls. This made big businesses, the government, and the plastics industry to renew supply chains. The pandemic had a major impact on the social and financial sectors across the globe, and all the major industries suffered. However, the need for bioplastic and biopolymer biodegradable takeaway containers saw an increase in demand. Still, the pandemic had an uneven effect on the bioplastics & biopolymers market.

Market Dynamics

The growth of the bioplastics & biopolymers market is primarily driven by-

  • Increasing demand from the packaging industry.
  • Government’s efforts to promote bio-products by regulating stringent rules citing environmental concerns.

Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s Bioplastics & Biopolymers Market realities and future market possibilities for the forecast period of 2022 to 2028. The report segments and analyses the market in the most detailed manner in order to provide a panoramic view of the market. The vital data provided in the report can play a vital role in assisting market participants and investors in identifying low-hanging fruits available in the market as well as developing growth strategies to accelerate their growth process.

Segments Analysis

Based on the type, the market is segmented as non-biodegradable/bio-based and biodegradable. The bio-based segment is expected to register the larger share of the market, during the forecast period, driven by the increasing environmental concerns and stringent rules by the government to encourage the use of bio-based bioplastics.

Based on the end-use industry type, the market is segmented as packaging, consumer goods, automotive & transportation, textiles, agriculture & horticulture, and others. The packaging industry is expected to occupy the largest share of the market, during the forecast period, owing to the increasing demand to replace conventional plastics in the packaging industry to address environmental concerns.

In terms of regions, Asia-Pacific is estimated to be the fastest-growing market during the forecast period. Increasing population, purchasing power, and increasing preference of customers towards eco-friendly plastic products generate huge demand for bioplastics & biopolymers in the region, which is driving the growth of the region’s market.

The list of Key Players in the report are -

The market for Bioplastics & Biopolymers is gradually consolidating with major companies that are performing mergers & acquisitions to quickly gain the leading position and to tap the growing opportunities in this briskly expanding market. Some of the major key players in the Bioplastics & Biopolymers Market are listed below.

  • NatureWorks
  • Braskem
  • BASF
  • Total Corbion
  • Novamont
  • Biome Bioplastics
  • Mitsubishi Chemical Holding Corporation
  • Biotec
  • Toray Industries
  • Plantic Technologies

About Stratview Research –

Stratview Research is a leading market research firm that offers wide range of services like syndicated market reports, consulting, sourcing intelligence, and customer research, etc. Stratview Research’s offerings include comprehensive market intelligence in the form of research reports, and consulting services. Our team which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 500 companies.