Global Bioplastics Market Size, Share, Opportunities, And Trends By Type (Biodegradable Bioplastics (Polyester, Polylactic Acid (PLA), Polyhydroxyalkanoates, Starch Blends, Others), Non-Biodegradable Bioplastics (Bio-PE (Polythene), Bio-PET (Polythene Terephthalate), Bio-PA (Polyamide), Others)), By Application (Construction, Packaging, Agriculture, Textile, Automotive, FMCG, Others), And By Geography - Forecasts From 2024 To 2029

The global bioplastics market is expected to grow at a CAGR of 9.67% during the forecast period, reaching US$77.958 billion in 2029, up from US$40.855 billion in 2022. 

Bioplastic is a sustainable material that is derived from renewable feedstocks, and it is also an alternative to petroleum-based plastics. Factors such as rising awareness about eco-safety, growing demand for bioplastics in additive manufacturing, increasing demand for bioplastics from the packaging sector, high consumer preference for bio-based products, and supportive government regulations/policies to promote sustainability of bioplastics are expected to drive the overall market growth during the forecast period.

The United Kingdom is one of the most advanced and innovative countries that are developing advanced and modified plastics. Moreover, the government’s ban on single-use plastic, coupled with growing awareness about the hazardous effects of plastic waste, is the key trend stimulating the overall market growth. The governments of various economies are banning single-use plastic every year and promoting the use of biodegradable plastics. The government of Kenya has made the manufacturing and distribution of plastic bags illegal in the country. The French government has banned the use of plastic bags, cups, and plates, and it is also looking forward to banning single-use items such as straws and utensils. Furthermore, mergers and acquisitions by key players will create various lucrative opportunities in the market. For instance, Novamont has completed its acquisition of BioBag Group to expand its global presence in Northern/Eastern Europe.

GLOBAL BIOPLASTICS MARKET DRIVERS:

• Growing demand from the packaging industry

One of the prime reasons supporting the market's growth is the growing demand for bioplastics from the packaging industry. Bioplastics are used in flexible packaging as they are not hazardous to the environment and are biodegradable. They are used in packaging food items, beverage bottles, napkins, sanitary towels, coated cardboard, etc. Moreover, spending on various food products such as bakeries, cereals, snack foods, nuts, hot chocolate sticks, short-run meals, dry foods, etc., has increased considerably in the past few years. This has increased the demand for sustainable packaging materials, which is projected to drive the overall market growth. For instance, In August 2023, Amcor, a leader in developing and producing environmentally friendly packaging solutions worldwide, reached a deal to buy Phoenix Flexibles, increasing its presence in the rapidly expanding Indian market. Phoenix Flexibles is an Indian company with a single unit in Gujarat. It sells flexible packaging for food, home care, and personal care applications, bringing in about US$20 million in revenue annually.

• Rising investment in innovation and R&D

Key market players' latest innovations and developments significantly contribute to overall market growth. For instance, Braskem has invested around SD 61 million in its research and development to boost the production capacity of green ethylene derived from sugarcane ethanol. Trinseo is making efforts to expand its thermoplastic elastomers (TPE) R&D Center in Mussolente, Italy. The expansion will help the company to increase its leading bioplastics portfolio. The aerospace segment by end-user industry will likely be the fastest-growing segment during the forecast period. 

Global Bioplastics Market Geographical Outlook

• The Asia Pacific region will dominate the bioplastics market during the forecast period.

The Asia-Pacific region is emerging as a dominant player in the bioplastics market, driven by favorable economic conditions, abundant raw materials, and increasing environmental awareness. The bioplastics market in this location is expected to expand at the fastest CAGR throughout the forecast period with the dominance of countries like China, India, and Japan.

One factor that has driven this growth is the rising supply of renewable raw materials in the Asia-Pacific community. Thus, they benefit from the large availability of affordable agricultural products that can be further processed into bioplastics in China, such as corn and sugarcane. The region’s demographic and industrialization characteristics present a large demand for bioplastics based on packaging and car components. The transition towards sustainable materials is even more propelled by numerous policies and regulations that governments are launching to minimize the use of plastics and start with the increasing use of environment-friendly products. For example, the Plastic Waste Management Amendment Rules applicable to India, which rightly prohibits single-use plastics, are the regulations that promote the usage of bioplastics.

Furthermore, it is necessary to note that the Asia-Pacific market is notable for progressive innovations in bioplastic production. Bioplastics can also be developed from other matrices, such as seaweed and agricultural products, and this has made many firms embrace research and development on the product. This diversification not only improves the viability of the bioplastics but also affirms the area’s role in combating one of the world’s greatest issues, plastic waste. Therefore, the constant attempts to enhance bioplastics' mechanical performance and affordability are projected to enhance the market stability of bioplastics in the future, positioning the Asia-Pacific as a critical area of focus when it comes to bioplastics development.

The global bioplastics market key developments:

• August 2022: BASF Venture Capital GmbH of BASF SE, Germany, and Aqua-Spark of the Netherlands are investing in Sea6 Energy Pvt. Ltd. Sea6 Energy is globally recognized as one of the leading companies in the cultivation, processing, and marketing of Tropical Red Seaweed. It is also utilized in relation to bioplastics and biofuels from red seaweed at Sea6 Energy.
• April 2022: Trinseo introduced MAGNUM BIO ABS for automotive use. This new product is a step in expanding the company’s product range with its more sustainable portfolio position. It also helps customers work towards sustainability agendas whenever the company provides viable environmentally friendly solutions.
• March 2022: ABB technology will automate NatureWorks' new bioplastics plant in Thailand, helping to meet the increasing global demand for sustainable materials. The new site is set to produce 75,000 tons of Ingeo PLA biopolymer per year—an integrated process from fermentation to polymerization enhances supply chain reliability. ABB technology will help improve the energy and production efficiency of bioplastic manufacturing, which is expected to grow by over 260% by 2026. 

The global bioplastics market is segmented and analyzed as follows:

• By Type
  • Biodegradable Bioplastic
    • Polyester
    • Polylactic Acid (PLA)
    • Polyhydroxyalkanoates
    • Starch Blends
    • Others
  • Non-biodegradable bioplastic
    • Bio-PE (Polythene)
    • Bio-PET (Polythene Terephthalate)
    • Bio-PA (Polyamide)
    • Others
• By Application
  • Construction
  • Packaging
  • Agriculture
  • Textile
  • Automotive
  • FMCG
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Middle East and Africa
    • Saudi Arabia
    • Saudi Arabia
    • United Arab Emirates
    • Rest of the Middle East and Africa
  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Taiwan
    • Thailand
    • Indonesia
    • Rest of Asia-Pacific

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1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base and Forecast Years Timeline

1.8. Key benefits for the stakeholders

2. RESEARCH METHODOLOGY  

2.1. Research Design

2.2. Research Process

3. EXECUTIVE SUMMARY

3.1. Key Findings

3.2. Analyst View

4. MARKET DYNAMICS

4.1. Market Drivers

4.1.1. Environmental Factors Encouraging a Paradigm Shift

4.1.2. Growing Demand for Bioplastics in Packaging

4.2. Market Restraints

4.2.1. Availability of Cheaper Alternatives

4.2.2. Threats from Substitutes

4.3. Porter’s Five Forces Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. The Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

5. GLOBAL BIOPLASTICS MARKET BY TYPE

5.1. Introduction

5.2. Biodegradable Bioplastic

5.2.1. Polyester

5.2.2. Polylactic Acid (PLA)

5.2.3. Polyhydroxyalkanoates

5.2.4. Starch Blends

5.2.5. Others

5.3. Non-biodegradable bioplastic

5.3.1. Bio-PE (Polythene)

5.3.2. Bio-PET (Polythene Terephthalate)

5.3.3. Bio-PA (Polyamide)

5.3.4. Others

6. GLOBAL BIOPLASTICS MARKET BY APPLICATION

6.1. Introduction

6.2. Construction

6.3. Packaging

6.4. Agriculture

6.5. Textile

6.6. Automotive

6.7. FMCG

6.8. Others

7. GLOBAL BIOPLASTICS MARKET BY GEOGRAPHY

7.1. Global Overview

7.2. North America

7.2.1. United States

7.2.2. Canada

7.2.3. Mexico

7.3. South America

7.3.1. Brazil

7.3.2. Argentina

7.3.3. Rest of South America

7.4. Europe

7.4.1. United Kingdom

7.4.2. Germany

7.4.3. France

7.4.4. Italy

7.4.5. Spain

7.4.6. Rest of Europe

7.5. Middle East and Africa

7.5.1. Saudi Arabia

7.5.2. United Arab Emirates

7.5.3. Rest of the Middle East and Africa

7.6. Asia-Pacific

7.6.1. China

7.6.2. India

7.6.3. Japan

7.6.4. South Korea

7.6.5. Taiwan

7.6.6. Thailand

7.6.7. Indonesia

7.6.8. Rest of Asia-Pacific

8. COMPETITIVE ENVIRONMENT AND ANALYSIS

8.1. Major Players and Strategy Analysis

8.2. Market Share Analysis

8.3. Mergers, Acquisitions, Agreements, and Collaborations

8.4. Competitive Dashboard

9. COMPANY PROFILES

9.1. BASF SE

9.2. Corbion

9.3. NatureWorks LLC

9.4. Novamont S.P.A.

9.5. Cardia Bioplastic

9.6. Biome Bioplastic

9.7. Braskem

9.8. Nature Plast

9.9. PlastoBag

BASF SE

Corbion

NatureWorks LLC

Novamont S.P.A.

Cardia Bioplastic

Biome Bioplastic

Braskem

Nature Plast

PlastoBag