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Redding, California - March 1, 2022

Bioplastics Market Worth $25.93 billion by 2029

Bioplastics Market by Type (Starch-based, PLA, PHA, Polyester, Bio-PET, Bio-PE, Bio-PTT, Bio-PA), Application (Packaging, Automotive, Consumer Electronics, Construction, Agriculture, Textile), and Geography - Global Forecasts to 2029


Meticulous Research®—a leading global market research company published a research report titled "Bioplastics Market by Type (Starch-based, PLA, PHA, Polyester, Bio-PET, Bio-PE, Bio-PTT, Bio-PA), Application (Packaging, Automotive, Consumer Electronics, Construction, Agriculture, Textile), and Geography Global Forecasts to 2029."

According to this latest publication from Meticulous Research®, the global bioplastics market is expected to grow at a CAGR of 13.1% from 2022–2029 to reach $25.93 billion by 2029. The growth of this market is attributed to the increasing consumer preference for biobased products over synthetic products, the rising research and development in bioplastics, the growing adoption of bioplastics in the packaging industry, and the increased utilization of flexible packaging by the food & beverages industry.

Furthermore, the increasing number of regulations & legal acts supporting bioplastics usage and the untapped markets in emerging economies are expected to provide significant opportunities for the growth of this market in the coming years. However, the high costs of bioplastics are expected to restrain this market's growth to a notable extent. In addition, the specific requirements for the biodegradation process pose a major challenge for the growth of this market.

The global bioplastics market study is segmented by Type {Biodegradable Bioplastic (Starch-based Bioplastic, Polylactic Acid [PLA], Polyhydroxyalkanoates [PHA], Polyester [PBS, PBAT, AND PCL], and Other Biodegradable Plastics), Non-Biodegradable Bioplastics (Bio-Polyethylene [PE], Bio-Polyethylene Terephthalate [PET], Bio-Polyamides [PA], Bio-Polytrimethylene Terephthalate [PTT], and Other Non-Biodegradable Plastics)}, Application (Packaging [Flexible Packaging and Rigid Packaging], Automotive & Assembly Operation, Consumer Electronics, Agriculture & Horticulture, Construction, Textile, and Other Applications), and Geography.

Based on type, the biodegradable bioplastics segment is estimated to account for the largest share of this market in 2022. This large share of this segment is attributed to their wide range of industrial applications and the rising number of innovations in biodegradable bioplastics.

Based on application, the packaging segment is estimated to account for the largest share in 2022. The large market share of this segment is attributed to the benefits of bioplastics, such as reduced carbon footprint, energy savings in production, and reduced non-biodegradable waste. In addition, the growing usage of bioplastics as an alternative packaging material and the increasing demand for bioplastics for wrapping organic food and premium and branded products further drive the growth of this segment.

Geographic Review:

This research report analyzes major geographies and provides comprehensive analysis for Asia-Pacific (Japan, China, India, South Korea, Australia & New Zealand, and RoAPAC), Europe (Germany, France, U.K., Italy, Spain, and Rest of Europe), North America (U.S., Canada), Latin America, and the Middle East & Africa.

In 2022, Asia-Pacific is estimated to dominate the bioplastics market, followed by Europe and North America. The large market share of Asia-Pacific is attributed to the initiatives taken by governments to ban conventional non-degradable plastics, create awareness of their harmful impacts on the environment, and promote the use of bioplastics.

Key Players: 

The key players operating in the bioplastics market are BIOTEC (Germany), Braskem S.A. (Brazil), BASF SE (Germany), Biome Bioplastics Limited (U.K.), DuPont de Nemours, Inc. (U.S.), AKRO-PLASTIC GmbH (Germany), Saudi Basic Industries Corporation (Saudi Arabia), FKuR Kunststoff GmbH (Germany), Novamont S.p.A. (Italy), Plantic Technologies Limited (Australia), Futerro SA (Belgium), PTT Global Chemical Public Company Limited (Thailand), Showa Denko K.K. (Japan), Solvay SA (Belgium), Mitsubishi Chemical Holdings Corporation (Japan), Teijin Limited (Japan), Toray Industries, Inc. (Japan), Total Corbion PLA (Netherlands), Toyota Tsusho Corporation (Japan), and Green Dot Bioplastics, Inc. (U.S.).

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Key questions answered in the report-

  • Which are the high-growth market segments in terms of product, application, and region/countries?
  • What was the historical market for bioplastics across the globe?
  • What are the market forecasts and estimates for the period 2022–2029?
  • What are the major drivers, restraints, opportunities, and challenges in the global bioplastics market?
  • Who are the major players in the bioplastics market?
  • How is the competitive landscape, and who are the market leaders in the global bioplastics market?
  • What are the recent developments in the global bioplastics market?
  • What are the different strategies adopted by the major players in the global bioplastics market?
  • What are the geographical trends and high growth regions/countries?

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Related Reports
Bioplastics Market - Global Opportunity Analysis and Industry Forecast (2022-2029)
Report ID: MRCHM - 104563 Pages: 227 Formats*:PDF Category: Chemicals and Materials
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