Global Bioplastics & Biopolymers Market Revenue Estimated Around USD 28.94 Billion By 2028

According to the report, the global bioplastics & biopolymers market size was valued at approximately USD 10.51 billion in 2021 and is predicted to reach around USD 28.94 billion by the end of 2028, expanding at a CAGR of around 21.5% from 2022 to 2028. The report analyzes the battery management systems 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 battery management systems market.

The global bioplastics and biopolymers market has major applications in the packaging and healthcare sectors respectively. Bioplastics are used in the manufacturing of disposable items like containers, bags, and bottles and in non-disposable items like car insulation, medical implants, phone casings, and plastic piping, amongst others. Biopolymers are used in tissue engineering, regenerative medicine, drug delivery, and other medical applications owing to their excellent medical properties like healing wounds, their non-toxicity, and catalysis of bio-activity.

Covid-19 had an overall balanced impact on the growth of the global market. In some sectors, the demand for biodegradable packaging increased but the supply chain was disrupted owing to worldwide restrictions on transportation and scarce availability of raw materials. E-commerce and healthcare were the top sectors that witnessed a rise in demand for biodegradable packaging during Covid-19. If the challenges are not overcome with proper actions, the global market is expected to grow below its true potential during the forecast period.

Traditional plastic packaging solutions have impacted the global environment negatively. With massive efforts undertaken by country governments, educational institutes, and government or non-government environmental institutes, to educate the masses about the adverse effects of non-biodegradable products, there has been a shifting trend amongst the population towards opting for biodegradable products wherever possible. Consumers have become more accountable for the impact their product selections have on the environment. This changing preference is expected to aid the global bioplastics and biopolymers market growth. The market expansion is also attributed to the rising demand for bioplastics in the packaging sector. Since packaging is an extremely important component of product marketing, manufacturers have become conscious of their selection of raw materials required for packaging goods. This is also coupled with the general increase in demand for packaged goods owing to the increasing population and subsequent increase in packaging products.

The high prices of bio-plastic compared to synthetic plastic may hamper the growth of the global market. More opportunities can be expected in the global market owing to the increasing demand for bio-plastics in emerging countries and some challenges may occur in the global market due to the low approval rate of bio-plastics in developing countries.

The global bioplastics and biopolymers market is categorized into type, end-user, and region. By type, the market is classified into biodegradable, non-biodegradable/bio-based, and others. The end-user industry segment of the market is bifurcated into packaging, consumer products, automotive & transportation, textiles, agricultural & horticulture, and others.

Asia-Pacific is expected to dominate the global bioplastics and biopolymers market during the forecast period due to infrastructural development in regions like China, Singapore, Japan, and Hongkong, and growing environmental regulations laid down by country governments.

Europe was the second to push the global market growth in 2021 and is expected to follow the same trend because of the rising use of bioplastics in many items like agriculture mulch films, shopping bags, bottles, etc. As per a survey, around 100B bags are used annually in Europe alone which when coupled with rising acceptance of bioplastic is projected to aid the regional growth.

North America is anticipated to register a high CAGR owing to the presence of large-scale key market players, heavy investment in R&D, and the production of biodegradable products. Rising awareness amongst the general population about the adverse effects of non-degradable products is anticipated to aid regional growth.

Browse the full “Bioplastics & Biopolymers Market - By Type (Biodegradable and Non- Biodegradable), By End-Use Industry (Packaging, Consumer Goods, Automotive & Transportation, Textiles, Agriculture & Horticulture, and Others), and By Region: Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data and Forecasts 2022 - 2028” Report at https://www.zionmarketresearch.com/report/bioplastics-biopolymers-market

Key players operating in the global bioplastics and 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), and Plantic Technologies (Australia), and others.

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

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