Bioplastic & Biopolymers Market 2023 – Market Size & Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Forecast 2030

Bioplastic are plastic materials made from bio-based source such as sugar, starch straw, etc. And biopolymers are natural polymers produced by the cells of living organisms. Biopolymers are a broad category of materials that includes bioplastics and natural polymers such as silk, chitosan, and wool. Biopolymers and bioplastics are used in industries, such as textiles, building & construction, packaging, and automotive. Increasing use of several plastic compounds worldwide caused a rise in emissions and environmental degradation. This fueled demand for bio-based compounds, which can be environmental-friendly as well as reflect functionality at various end-user markets. The end use industries are toning up to the adoption of bio-based polymers and plastics. The automotive industry, for instance, has proven to be one of the significant consumers of bio-based plastics and polymers due to the high demand for lightweight materials in manufacturing vehicle components. These factors are cumulatively driving the growth of the global bioplastic & biopolymers market.

The bioplastics and biopolymers market is anticipated to reach USD 69,090 million by 2030 from USD 10,810 million in 2021, at a CAGR of 22.8% during the forecast period. The growing demand for environmental-friendly bio-based plastics and polymers is sustaining the market by aligning to government regulations is driving the market growth.

Growth Drivers:

Increasing awareness in regards to stainable plastic solutions and unavoidable endeavors to eliminate the use of non-biodegradable conventional plastics are driving the growth of bioplastics and biopolymers market. Biodegradable plastics separate 60% and more in the span of 180 days or less as contrasted and conventional plastics, which require about 1,000 years to separate. Expanding landfills and waste heaps have arisen as serious ecological risks and brought about various unfavorable consequences for the biological system.

The governments across the world are introducing initiatives and programs to manage the use of plastics. Regions such as Europe and North America have introduced regulations and targets to use bio-based and biodegradable plastic to reduce packaging waste and achieve circular economies. Manufacturers position their businesses to verbalize government regulations to find significant businesses across the regions and gain more market share.

The scope of applications of bio-plastics and bio-polymers is increasingly high. The applications of bioplastics & biopolymers in healthcare, packaging, consumer goods, and automotive industries is expected to accelerate the demand for bioplastics & biopolymers throughout the forecast period. Additionally, major market players are launching advanced bioplastics & biopolymer-based products, which is anticipated to boost the bioplastics & biopolymers market size over the forecast period.

There is a high demand for bioplastics & biopolymers from the packaging industry. The global production and consumption of bioplastics & biopolymers is growing, mainly in food packaging applications. Increasing purchasing power of consumers, a growing population, and a surge in e-commerce are the factors positively influencing the growth of bioplastic & biopolymers market.

Bioplastic & Biopolymers Segmentation:

By Product Type:

·        Biodegradable

o   PHA

o   PBS

o   PLA

o   PBAT

o   Starch based

o   Cellulose Films

o   Other Biodegradables

·        Non-Biodegradable

o   Bio-PET

o   Bio-PA

o   Bio-PE

o   Bio-PP

o   PTT

o   PEF

o   Other Non-Biodegradables

By Raw Materials:

·        Potato

·        Corn Starch

·        Wheat

·        Sugar cane/Sugar beet

·        Cassava

·        Switch grass

·        Others

By End Use Industry:

·        Textiles

·        Automotive & Transport

·        Electronics & Electrical

·        Building & Construction

·        Agriculture & Horticulture

·        Coating & Adhesives

·        Packaging

By Region:

·        North America

·        Europe

·        Asia Pacific

·        Latin America

·        Middle East and Africa

Bioplastic & Biopolymers Market by Type Review:

Based on the product type, the market for bioplastics and biopolymers is segmented into two segments biodegradable which is further divided into seven sub-segments PHA, PBS, PLA, PBAT, starch based, cellulose films, and others biodegradable. And non-biodegradable which is also divided into bio-PET, bio-PA, bio-PE, bio-PP, PTT, PEF, and others non-biodegradable. On the basis of product type, biodegradable segment has the largest market share and is predicted to grow at fastest CAGR during the forecast period, due to increasing application of biodegradable plastics in consumer goods, packaging, medical equipment, construction, automotive, and textiles among others. Electronics such as circuit boards, headphones, gaming consoles, and keyboards are being produced using biodegradable plastics.

Bioplastic & Biopolymers Market by Raw Materials Review:

Based on the raw materials, the market is segmented into seven segments potato, corn starch, wheat, sugar cane/sugar beet, cassava switch grass, and others. On the basis of raw materials, corn starch has the largest share in market, while it is expected to grow at fastest CAGR during the forecast period, due to availability and cheapness of the source.

Bioplastic & Biopolymers Market by End-Use Industry Review:

Based on the end-use industry, the market is segmented into seven segments: textiles, automotive & transport, electronics & electrical, building & construction, agriculture & horticulture, coating & adhesives, and packaging. On the basis of end use industry, packaging segment has the largest share in market, while it is expected to grow at fastest CAGR during the forecast period, due to increased use of bioplastics & biopolymers-based packaging solutions for efficient protection of goods for storage and distribution. These solutions offer superior strength and durability while protecting the products from breakage and contamination.

Regional Outlook:

The bioplastic & biopolymers market research report offers detailed analysis and forecasts for five major regions i.e., North America, Europe, Asia Pacific (APAC), Latin America, and the Middle East & Africa. Europe is expected to dominate the global bioplastic & biopolymers market in terms of market share during the forecast period, due to broad applications such as refuge bags, shopping bags, loose packaging, agricultural mulch films, and bottles among others. Approximately, 100 million bags are used per year in the EU. The acceptability of bioplastics and biopolymers is increasing among the consumers across all over the Europe. The market will further anticipate to grow by the increasing acceptance of bioplastics and biopolymers in major end-use industry. Germany, Italy, France, Spain, and the UK are the major countries in the European bioplastics & biopolymers market. Greater use of bioplastics and biopolymers across industries such as automotive, packaging, and consumer goods is driving the growth of bioplastics and biopolymers in the region.

The Asia Pacific region is expected to grow at highest rate in terms of CAGR during the forecast period. Economic growth, urbanization, and industrial growth have increased the demand for the industry in the region. Rise in population, increasing consumer consciousness, and growing demand for sustainable packaging solutions, especially from the e-commerce sector, boosts the market growth. There has been increasing trend of using bioplastics & biopolymers in agriculture and textile sectors owing to stringent environmental regulations and greater demand for sustainable solutions.

North America is expected to witness substantial growth during the forecast period. The growth of the regional markets is mainly attributed to the presence of multinational companies in the region that are seen to be making heavy investments in research & development activities to develop high-grade, durable, and economic bio-based plastic products.

Key Companies in Bioplastic & Biopolymers Market:

The research report offers a competitive analysis of prominent companies operating in the bioplastic & biopolymers market. Some of the leading players profiled in the market research report include:

·        NatureWorks LLC

·        BASF SE

·        TotalEnergies Cobion

·        Novamount S.P.A

·        Braskem

·        Biome Bioplastics Limited

·        Mitsubishi Chemical Group Corporation

·        Biotec Biologistics Naturverpackungen GmbH & Co.

·        Plantic Technologies Limited

·        Toray industries, Inc.

·        Other Players