The report “Bioplastics & Biopolymers Market by Product Type (Biodegradable, Non-Biodegradable/ Bio-Based), End-Use Industry (Packaging, Consumer Goods, Textiles, Agriculture & Horticulture, AnT, Coatings & Adhesives), & Region- Global Forecast to 2029″, was USD 15.3 billion in 2024 and is projected to reach USD 45.2 billion by 2029, at a CAGR of 24.2%, between 2024 and 2029. Bioplastics are synthetic materials sourced from renewable origins like corn, potatoes, rice, soy, sugarcane, wheat, and vegetable oil, whereas biopolymers are polymers found naturally. Bioplastics can either degrade naturally or not. They are primarily classified into biodegradable and non-biodegradable categories and are used across a wide range of industries including packaging, consumer goods, automotive and transportation, agriculture and horticulture, medical, and various other sectors.
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• 261 Market data Tables
• 54 Figures
• 307 Pages and in-depth TOC on “Bioplastics & Biopolymers Market – Global Forecast to 2029″
• 54 Figures
• 307 Pages and in-depth TOC on “Bioplastics & Biopolymers Market – Global Forecast to 2029″
Some of the prominent key players are:
- NatureWorks LLC (US),
- Braskem (Brazil),
- BASF SE (Germany),
- TotalEnergies Corbion (Netherlands),
- Novamont S.P.A (Italy),
- Biome Bioplastics Limited (UK), and many more….
Opportunity: High potential in emerging economies
Bioplastics and biopolymers market players are actively employing both organic and inorganic strategies to fuel their growth. Recent years have witnessed significant strategic developments in the emerging markets of Asia-Pacific. For example, in 2019, Total-Corbion established a PLA plant in Rayong, Thailand, with an annual production capacity of 75,000 tons. Similarly, Mitsubishi Chemical Holding Corporation (Japan) and Lenovo Group Limited (China) formed a joint venture to produce bioplastic-based smartphone components. Additionally, Indonesia is exploring bioplastic alternatives, such as seaweed. Local player Evoware offers patented seaweed-based packaging, anticipating an increase in environmental regulations that will drive demand for bioplastics in Asia-Pacific countries. Furthermore, Southeast Asia benefits from abundant bio-based feedstock, ensuring a sustainable supply of raw materials for bioplastic production. Consequently, regulatory developments and the availability of feedstock are poised to sustain the demand for bioplastics in the region in the forecast period.
