PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1104580
PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1104580
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Global Bioplastics and Biopolymers Market to Reach $22 Billion by 2027
In the changed post COVID-19 business landscape, the global market for Bioplastics and Biopolymers estimated at US$8.4 Billion in the year 2020, is projected to reach a revised size of US$22 Billion by 2027, growing at aCAGR of 14.8% over the period 2020-2027. Non-Biodegradable, one of the segments analyzed in the report, is projected to record 15.5% CAGR and reach US$13.3 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Biodegradable segment is readjusted to a revised 13.7% CAGR for the next 7-year period.
The U.S. Market is Estimated at $2.3 Billion, While China is Forecast to Grow at 19.9% CAGR
The Bioplastics and Biopolymers market in the U.S. is estimated at US$2.3 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$4.7 Billion by the year 2027 trailing a CAGR of 19.9% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 10.1% and 12.5% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 11.7% CAGR.
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