The report “Bioplastics & Biopolymers Market by Type (Biodegradable, Non-Biodegradable/ Bio-Based), End-Use Industry (Packaging, Consumer Goods, Textiles, Agriculture & Horticulture, Automotive & Transport, Coatings & Adhesives), & Region – Global Forecast to 2027″, size of bioplastics & biopolymers was USD 11.5 billion in 2022 and is projected to reach USD 27.3 billion by 2027, at a CAGR of 18.9%, between 2022 and 2027.
Bioplastics are plastics derived from renewable sources such as corn, potatoes, rice, soy, sugarcane, wheat, and vegetable oil, while biopolymers are naturally occurring polymers. Bioplastics may or may not be biodegradable. They are mainly segmented into biodegradable and non-biodegradable plastics for various applications in packaging, consumer goods, automotive & transportation, agriculture & horticulture, medical, and other end-use industries.
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- 244 Market data Tables
- 42 Figures
- 283 Pages and in-depth TOC on “Bioplastics & Biopolymers Market – Global Forecast to 2027”
Some of the prominent key players are:
- 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)
Opportunity: Development of newer applications
The scope of applications of bio-based polymers is relatively high, similar to traditional polymers. With the increasing focus on the government’s sustainability and favourable green procurement policies, the bio-based polymers market is expected to witness a significant growth opportunity in consumer goods applications. The packaging application is also expected to witness significant growth. Biodegradable mulch films have extensive applications in the agriculture industry. Catering for food packaging products is a highly demanding and important application of bio-based polymers, including trays, cutleries, and cups.
Sugarcane/Sugar beet to be the largest market in the global bioplastics & biopolymers market during 2022 to 2027
The sugarcane/sugar beet segment accounted for more than a quarter of the total market, in terms of volume, and is projected to register a CAGR of 19.3%during the forecast period. Bioplastics made from sugarcane ethanol have the same physical and chemical properties as regular plastic and maintain full recycling capabilities. The carbon footprint of sugarcane ethanol bioplastics is lower than traditional plastic because sugarcane absorbs CO2 from the air as it grows. Sugarcane-based bioplastics can be used to create bags, covers, tubes, films, wraps, and stretch films. A number of companies have started to switch to more environmentally friendly packaging.
Europe accounted for third largest region, by value, during the forecast period
Europe accounts for a significant share in the bioplastics & biopolymers market due to the high consumer demand for sustainable packaging materials. The governments of the European countries are promoting the use of biodegradable plastics by setting up the infrastructure for composting of these plastics. The key companies producing biodegradable plastics in Europe include BASF (Germany), Total Energies Corbion PLA (Netherlands), Biome Bioplastics (UK), and Bio-On (Italy).
