PUBLISHER: Polaris Market Research | PRODUCT CODE: 1149992
PUBLISHER: Polaris Market Research | PRODUCT CODE: 1149992
The global bioplastics & biopolymers market size is expected to reach USD 63.09 billion by 2030, according to a new study by Polaris Market Research. The report "Bioplastics & Biopolymers Market Share, Size, Trends, Industry Analysis Report, By Type (Biodegradable, Non-biodegradable); By End-Use (Packaging, Textile, Consumer Goods, Automotive, Agriculture, Others); By Region; Segment Forecast, 2022 - 2030" gives a detailed insight into current market dynamics and provides analysis on future market growth.
Europe accounted for a significant revenue share owing to introduction of strict regulations regarding use of bioplastics and biopolymers for decreasing packaging waste. Increasing inclination of consumers toward use of sustainable solutions, adoption of modern retail practices, and technological advancements support the growth of the industry in the region. Growth in environmental awareness, high purchasing power of consumers, and greater application in the automotive sector further accelerates the industry growth in Europe.
Several industry players are investing in research and development, launching new products, and initiating partnerships to address the growing industry demand. In January 2022, Vikas Ecotech Limited invested in BioPlastics (PHA) technology to enhance offerings and strengthen its presence in the industry. In May 2021, TerraVerdae Bioworks, launched a range of PHA-based resins for customer evaluations. The formulations are available as thermoforming, blown/cast films, and injection moulding. The launch strengthens the company's portfolio of biobased and biodegradable plastic resins, while catering to material needs and sustainability goals.
On the basis of end-use industry, the global bioplastics and biopolymers market has been segmented into packaging, textile, consumer goods, automotive, agriculture, and others. The packaging segment dominated the bioplastics and biopolymers market in 2021. Rise in population, growth in the retail industry, and greater use of e-commerce platforms boost the growth of this segment. There has been rise in concerns associated with the generation of packaging waste, encouraging industry players to launch sustainable products in the industry.
The outbreak of COVID-19 influenced the global market through disruption of supply chain, limited availability of raw materials, and operational restrictions. Lockdown impositions caused travel restrictions and transportation delays across the world. Decline in demand from agriculture and automotive industries was observed. However, the industry experienced increase in demand from the packaging sector on account of greater use of e-commerce platforms and healthcare sector.
Bioplastics & Biopolymers Market Report Highlights
Biodegradable plastic accounted for a significant share in 2021 owing to its ability to recycle easily
The packaging segment dominated the industry owing to in e-commerce platforms and initiatives to reduce packaging waste
Europe accounted for a significant share on account of stringent regulation, increasing environmental concerns and greater use in packaging solutions
The industry is highly competitive owing to the existence of large industry players with global presence including Amcor Limited, Arkema, BASF, Biotec, Cargill Incorporated, Eastman Chemical Company, Mitsubishi Chemical Holding Corporation, NatureWorks, and Toray Industries
Polaris Market Research has segmented the bioplastics & biopolymers market report based on type, end-use, and region:
Bioplastics & Biopolymers, Type Outlook (Revenue - USD Billion, 2018 - 2030)
Biodegradable
Non-biodegradable
Bioplastics & Biopolymers, End-Use Outlook (Revenue - USD Billion, 2018 - 2030)
Packaging
Textile
Consumer Goods
Automotive
Agriculture
Others
Bioplastics & Biopolymers, Regional Outlook (Revenue - USD Billion, 2018 - 2030)
North America
U.S.
Canada
Europe
Germany
UK
France
Italy
Spain
Russia
Netherlands
Asia Pacific
China
India
Japan
South Korea
Indonesia
Malaysia
Latin America
Argentina
Brazil
Mexico
Middle East & Africa
UAE
Saudi Arabia
Israel
South Africa
Figure 1 Global Bioplastics & Biopolymers Market, 2018 - 2030 (USD Billion)
Figure 2 Integrated Ecosystem
Figure 3 Research Methodology: Top-Down & Bottom-Up Approach
Figure 4 Market by Geography
Figure 5 Porter's Five Forces
Figure 6 Market by End-Use
Figure 7 Global Bioplastics & Biopolymers Market, by End-Use, 2021 & 2030 (USD Billion)
Figure 8 Market by Type
Figure 9 Global Bioplastics & Biopolymers Market, by Type, 2021 & 2030 (USD Billion)
Figure 10 Bioplastics & Biopolymers Market Assessment, By Geography, 2018 - 2030 (USD Billion)
Figure 11 Strategic Analysis - Bioplastics & Biopolymers Market