Bioplastics & Biopolymers Market Share, Size, Forecast 2028

Bioplastics & Biopolymers Market: Industry Perspective

The global bioplastics & biopolymers market size was worth around USD 10.51 billion in 2021 and is predicted to grow to around USD 28.94 billion by 2028 with a compound annual growth rate (CAGR) of roughly 21.5% between 2022 and 2028.

The report analyzes the global bioplastics & biopolymers market's drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the bioplastics & biopolymers industry.

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Bioplastics & Biopolymers Market: Overview

The market for bioplastics and biopolymers has expanded due to stringent government regulations mandating businesses to reduce their carbon footprint, which has increased the demand for bio-based products in the industry. Automobiles, the building industry, and the packaging industry are the market's primary sectors. The Bioplastics & Biopolymers industry varies in size and responsibilities among countries. In many regions, the target market is highly fragmented. In addition, the Bioplastics and Biopolymers Market is becoming increasingly commercial.

Bioplastics are obtained from renewable biomass sources, such as corn starch, woodchips, vegetable fats and oils, food waste, and straw, among others. Bioplastics can be made from agricultural by-products as well as from used plastic bottles or other containers using microorganisms. Common plastics are found everywhere, which include fossil-fuel plastics that are also known as petroleum-based polymers. These are normally obtained from natural gas or petroleum.

Bioplastics and biopolymers are used widely by the packaging industry. Sustainable packaging is made from bio-based polymers. The bio-based polymers include polylactic Acid (PLA),starch-based polymers, and polyhydroxyalkanoates (PHA). Owing to its biodegradable nature, bioplastics and biopolymers are used in various industries, such as bottling and packaging industries. These factors are expected to drive the global bioplastics & biopolymers market growth in the forecast timeframe.

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Bioplastics & Biopolymers Market: Growth Drivers

Consumer preferences shifting toward eco-friendly plastic products.

Consumer awareness of sustainable plastic alternatives and widespread initiatives to eliminate the use of non-biodegradable conventional plastics are driving the growth of the bioplastics market. Traditional plastics, typically petroleum-based, take decades to break down or degrade and can be found in landfills for an extended period. When biodegradable plastics are discarded, they degrade faster and are incorporated back into the natural system. Furthermore, the degradation rate of biodegradable plastics by microbial activity is substantially faster than that of regular plastics.

In recent years, new types of bioplastics and advanced polymer materials are likely to push the growth of the bioplastics & biopolymers market in the future years. Bioplastics comprise a completely new class of materials. The first polymer materials produced were based on modified natural materials, such as shellac, casein, celluloid, gelatine, linoleum, rubber, and cellophane, among others. Rising concerns regarding environmental safety and green environment have prompted governments of various developed and emerging countries to take safety measures that are expected to upsurge the demand for bioplastics and biopolymers in the years ahead.

For instance, stringent regulations set by governments regarding the environment resulted in carbon reduction by key manufacturers. It is expected to positively impact the bioplastics & biopolymers market growth over the forecast timeframe. In addition, rising consumer awareness regarding a sustainable environment is expected to further drive the industry growth. 

Bioplastics & Biopolymers Market: Restraints

Price difference between bioplastics and conventional plastics

The greater cost of bioplastics over standard polymers limits market expansion in several application categories. PHAs have a wide range of applications, including binders, synthetic papers, medical devices, electronic parts, food packaging, and agriculture, however, they have high production costs, low yields, and restricted availability. PLAs are more expensive than petroleum-based PE and PP, although having a lower production cost than PHAs.

Bio-based materials are still in the early stages of development. They have not yet reached the same level of commercialization as their petrochemical counterparts, which have been developing fast for more than 50 years.

Bioplastics & Biopolymers Market: Segmentation

The global bioplastics & biopolymers market is segmented based on type, end-use industry, and region.

By type, the biopolymers & bioplastics market has been segmented into biodegradable and non-biodegradable (biobased). Due to the increased reliance of businesses and consumers on environmentally friendly solutions to satisfy their daily needs, the biodegradable category is expected to grow rapidly in the future years.

Based on the end-use industry, the market is segmented as packaging, consumer products, automotive & transportation, textiles, agricultural & horticulture, and others. Because of the increasing desire to replace conventional plastics in the packaging industry to address environmental concerns, the packaging industry is likely to hold the most significant share of the market throughout the projection period.

Bioplastics & Biopolymers Market: Report Scope

Bioplastics & Biopolymers Market: Regional Landscape

APAC is the quickest bioplastics and biopolymer market, owing to growing consumer demand for sustainable and environment-friendly plastic products and the region's rapidly growing population. Rising consumer spending power has fostered the expansion of many end-use industries in this region. During the forecast period, these factors are likely to boost demand for bioplastics and biopolymers in the region.

In terms of value, Europe is expected to be the largest market for bioplastics and biopolymers. Germany, Italy, France, Spain, and the United Kingdom are the leading countries in the European bioplastics and biopolymers market. Because of heightened environmental concerns and the enforcement of severe legislation prohibiting the use of petroleum-based plastics, the country's demand for bioplastics and biopolymers is constantly increasing.

Bioplastics & Biopolymers Market: Competitive Landscape

Some of the main competitors dominating the global Bioplastics & Biopolymers Market include - 

• NatureWorks (US)
• Braskem (Brazil)
• BASF (Germany)
• Total Corbion (Netherlands)
• Novamont (Italy)
• Biome Bioplastics (UK)
• Mitsubishi Chemical Holding Corporation (Japan)
• Biotec (Germany)
• Toray Industries (Japan)
• Plantic Technologies (Australia)

The global bioplastics & biopolymers market is segmented as follows;

By Type

• Biodegradable
  • PLA
  • Starch Blends
  • PHA
  • PBS
  • Others
  • PCL
  • PBAT
• Non-Biodegradable/Biobased
  • BIO-PET
  • BIO-PABIO-PE
  • BIO-PTT
  • Others
  • BIO-PP
  • BIO-PEF

By End-Use Industry

• Packaging
  • Rigid Packaging
  • Flexible Packaging
• Consumer Goods
  • Electrical Appliances
  • Domestic Appliances
  • Others
• Automotive & Transportation
  • Interior
  • Exterior
  • Under Hood
• Textiles
  • Medical & Healthcare Textile
  • Personal care, clothes, and other textiles
• Agriculture & Horticulture
  • Tapes & Mulch Films
  • Others
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa