Renub Research has recently released a report titled "Bioplastics Market, Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2030," providing a detailed industry analysis that includes market share insights. The report also includes competitor and regional research and contemporary advancements in the Global Bioplastic Market.
The global bioplastics market will reach US$ 17.58 Billion by 2030, as per Renub Research. Bioplastics are a sustainable option to traditional petroleum-based plastic as they are made from renewable biomass sources and can be recycled or composted, thereby reducing plastic waste in landfills and oceans.
The bioplastics market is expected to expand due to its eco-friendly characteristics, such as emitting minimal greenhouse gases during degradation. This will drive market growth, along with other factors like rising awareness about environmental concerns, favorable government policies, and increased consumer awareness. However, the market growth may be hindered by high production costs and lower performance standards than synthetic plastics. The market value of the global bioplastics market was US$ 7.41 Billion in 2022.
The bioplastics industry is driven by growing environmental sustainability awareness and regulatory support. Governments enforce stricter regulations on waste management and emissions, encouraging companies to adopt more sustainable materials. Consumer behavior also significantly impacts market trends, and the increasing preference for eco-friendly products is a notable factor driving the bioplastics market. Consumers look for products with a smaller environmental footprint, and labels indicating biodegradability, composability, or renewable sourcing often influence purchasing decisions. Additionally, bioplastics are increasingly used in various applications beyond packaging, including healthcare, agriculture, textiles, and 3D printing. Major corporations are setting ambitious sustainability goals, including reducing their carbon footprint and shifting to renewable materials throughout their supply chains. To achieve their material sustainability goals, these companies are turning to bioplastics. The global bioplastics market will grow at a CAGR of 11.40% from 2022 to 2030.
The burgeoning landfill crisis and environmental concerns drive the demand for sustainable packaging, fueling the widespread adoption of bioplastics in packaging. The growing awareness about environmental degradation and the need for sustainable products has led to a significant shift towards eco-friendly practices, driving the rapid adoption of bioplastics across various industries worldwide. Bioplastics, made from renewable resources and can biodegrade, offer a promising alternative to traditional petroleum-based plastics. Their increasing popularity underscores a paradigm shift towards environmental consciousness, addressing consumer demands for sustainable products. As awareness continues to grow and sustainability remains a paramount concern, bioplastics are set to play an increasingly pivotal role in shaping the future of packaging.
- China is expected to dominate the bioplastics market in the coming years. With its robust economic growth, technological advancements, and increasing environmental awareness, China's bioplastics industry is on a trajectory of significant expansion. Government initiatives promoting sustainable development and stringent regulations on plastic waste further drive this growth. As global demand for eco-friendly alternatives rises, China's strategic investments and production capabilities position it as a key player in shaping the future of bioplastics, solidifying its role as a leading force in the sustainable packaging revolution.
The bioplastics market is moderately consolidated, and major players such as Total Corbion, Mitsubishi Chemical Holding Corporation, Toray Industries, BASF SA, Green Dot Bioplastics, and Amcor Limited are leading the way.
Material Type – Market has been covered from 2 viewpoints:
1. Biodegradable
2. Non-Biodegradable
Biodegradable – Market has been covered from 6 viewpoints:
1. PBAT
2. PBS
3. PLA
4. PHA
5. Starch Blends
6. Others
Non-Biodegradable – Market has been covered from 6 viewpoints:
1. PE
2. PET
3. PA
4. PP
5. PTT
6. Others
Applications – Market has been covered from 7 viewpoints:
1. Packaging
2. Agriculture
3. Consumer goods
4. Textile
5. Automotive & Transportation
6. Building & Construction
7. Others
Country – Market has been covered from 23 viewpoints:
1. North America
1.1 United States
1.2 Canada
2. South America
2.1 Mexico
2.2 Argentina
2.3 Brazil
2.4 Colombia
3. Europe
3.1 Germany
3.2 United Kingdom
3.3 France
3.4 Italy
3.5 Netherlands
3.6 Spain
4. Asia Pacific
4.1 China
4.2 South Korea
4.3 Japan
4.4 India
3.5 Indonesia
3.6 Malaysia
3.7 Australia
5. Middle East & Africa
5.1 Saudi Arabia
5.2 UAE
5.3 Israel
5.4 South Africa
Company Insights:
• Overview
• Recent Developments
• Sales Analysis
Company Analysis:
1. Total Corbion
2. Mitsubishi Chemical Holding Corporation
3. Toray Industries
4. BASF SE
5. Green Dot Bioplastics
6. Amcor Limited
