Global Bioplastics Market is Anticipated to grow at a Significant Pace during the Forecast Period 2025 - 2030 and Cross USD 57.00 Billion by 2030

Published Date: Nov, 2023

The global bioplastics market was USD 13.00 billion in 2022 and is expected reach USD 57.00 billion by 2030 with a CAGR of 21.13% during the forecast period, i.e., 2023-2030. Bioplastics are a category of biodegradable or bio-based polymers derived from renewable resources like corn starch, sugarcane, or cellulose. They offer a more sustainable alternative to conventional plastics, as they are designed to break down naturally, reducing environmental impact. The demand for bioplastics is driven by growing environmental awareness and concerns about plastic pollution. Governments, consumers, and industries are seeking eco-friendly alternatives to reduce their carbon footprint. Additionally, regulatory initiatives to curb single-use plastics and promote sustainable packaging solutions are propelling the adoption of bioplastics; however, challenges for market growth persist. The production of bioplastics can sometimes compete with food production for agricultural resources, raising concerns about food security. Additionally, ensuring the complete biodegradability of bioplastics in different environments remains a complex issue. Balancing cost-effectiveness with sustainability and addressing end-of-life disposal challenges are critical factors in shaping the future growth of the bioplastics market.

In November 2023, AgroRenew LLC, a started based in Knox County, announced the plans to build an $83 million processing facility designed to turn food waste into eco-friendly bioplastics. The new plant will span nearly 200,000-square-feet and will use repurpose food waste from the county’s watermelon, cantaloupe and pumpkin farms as feedstock to produce biodegradable and sustainable plastics. The company is also working with farmers to explore opportunities for planting cover crops during the winter months.

Browse 75 market data Tables and 45 Figures spread through 226 Pages and in-depth TOC on "Bioplastics Market, by Type (Degradable and Non-degradable), by Product Type (Bio-PET, Bio-PE, PLA and PLA Blends, Biodegradable, Polyester, Starch Blends, Bio-PA, PHA, and Other Product Type), by End-Use Industry (Automotive, Food And Beverages, Packaging, Pharmaceuticals, Textile, Construction, and Other End-Use Industry), and by Region (North America, Europe, Asia-Pacific, Middle East and Africa, and South America) - Global Forecast to 2030

By type, degradable bioplastics dominate the global bioplastics market.

Based on the bioplastics type, the global bioplastics market is segmented into degradable and non-degradable. Degradable bioplastics like PLA (polylactic acid) dominated the market in 2022 due to their ability to break down naturally, reducing environmental impact. PLA (Polylactic Acid) exemplifies this category, derived from renewable resources like corn starch. It is widely used in packaging, disposable tableware, and textiles. For example, companies like NatureWorks specialize in producing PLA-based products, offering a sustainable alternative to conventional plastics. The demand for degradable bioplastics aligns with the increasing global emphasis on eco-friendly materials, solidifying their dominance in the bioplastics market.

“The Asia-Pacific (APAC) is expected to register the fastest CAGR during the forecast period in the global advanced packaging materials for semiconductors market.”

The Asia-Pacific is expected to registered the highest CAGR the global advanced packaging materials for semiconductors market owing to due to its booming population, increasing consumer awareness, and growing government initiatives for sustainable practices. For instance, in Japan, companies like Mitsubishi Chemical Corporation are investing in biodegradable plastics. Additionally, the region's expanding food and beverage packaging industry is driving the demand for eco-friendly packaging solutions. With these factors, the APAC region is anticipated to experience robust growth in the bioplastics market in the coming years.

Some of the major players in the global bioplastics market include Teijin Limited, Toray Industries, Inc., Toyota Tsusho Corporation, Avantium, PTT MCC Biochem Co., Ltd., An Phat Holdings, NatureWorks LLC, SABIC, BASF SE, Futerro, Trinseo S.A., Braskem, Total Corbion PLAIR, SUPLA (Jiangsu Supla Bioplastics Co., Ltd.), and Solvay.

Global Bioplastics Market Coverage (By Value)

  • Type Insight and Forecast 2018-2030

  • Degradable

  • Non-degradable

  • Product Type Insight and Forecast 2018-2030

  • Bio-PET

  • Bio-PE

  • PLA and PLA Blends

  • Polyester

  • Starch Blends

  • Bio-P

  • PHA

  • Others

  • End-use Industry Process Insight and Forecast 2018-2030

  • Automotive

  • Food and beverages

  • Packaging

  • Pharmaceuticals

  • Textile

  • Construction

  • Other end-use industry

Geographical Segmentation

Global Bioplastics Market by Region

  • North America

  • By Type

  • By Product Type

  • By End-use Industry

  • By Country – U.S., Canada, and Mexico

  • Europe

  • By Type

  • By Product Type

  • By End-use Industry

  • By Country – Germany, U.K., France, Italy, Spain, Russia, and Rest of Europe

  • Asia-Pacific (APAC)

  • By Type

  • By Product Type

  • By End-use Industry

  • By Country – China, Japan, India, South Korea, and Rest of Asia-Pacific

  • South America

  • By Type

  • By Product Type

  • By End-use Industry

  • By Country – Argentina, Brazil, Chile, and Rest of South America

  • Middle East and Africa

  • By Type

  • By Product Type

  • By End-use Industry

  • By Country – Saudi Arabia, U.A.E, South Africa, and Rest of Middle East and Africa