Overview of the Global Bioplastic Industry:
The Global Bioplastic market is projected to experience substantial growth between 2023 and 2028, driven by digital transformation, innovation in service delivery, and expanding global demand. With a forecasted CAGR of 10.12% during the forecast period, i.e., 2023-28.
This report offers an in-depth analysis of the key drivers, challenges, competitive landscape, and future outlook — helping businesses, investors, and stakeholders make informed decisions.
Market Size Forecast (2023–2028)
- Base Year: 2022
- Forecast Period: 2023-28
- Estimated CAGR (2023-28): 10.12%
Key Market Driver (What’s Driving Bioplastic Sector Growth?)
Growing Consumer Awareness Towards Sustainable Packaging Products - Consumers are becoming more health-conscious adopting sustainable practices in terms of their purchase decisions, which is being reflected in the growing demand for sustainable green products across the globe. Bioplastics cause less harm are easily biodegradable, due to which the customers are inclining more towards sustainable packaging of products which has induced the need for these resources resulted in the growth of the respective market. The growing popularity of reusable biodegradable alternatives, such as bamboo straws, glass water bottles, cloth bags, etc., among consumers has again benefitted the market through an enhanced avenue of expansion.
Moreover, the consumer's perception of these resources has also changed due to the COVID-19 pandemic in 2020. With the increased focus on sustainability, cleanliness, and others, consumers have become more conscious in terms of their purchases selecting environment-friendly products with keen observation, especially in developed fast-developing economies. Therefore, the improved awareness among individuals would expand the adoption of bioplastic-based products in the coming years, thereby pushing market expansion in the ensuing years.
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Global Bioplastic Industry Recent Development
- 2023: Solvay S.A. launched ISCC PLUS certified mass balance hydroquinone hydroquinone monomethyl ether as raw materials in epoxy polyester coatings, etc. Products are produced to manage the polymer, coating, adhesive, pharmaceutical, and agrochemical businesses' demand for enhanced sustainability, environmental-friendly feedstock, and a lower carbon footprint.
Top Companies in the Bioplastic Market
Here’s a snapshot of key players leading innovation and market share:
- Novamont S.p.A
- Arkema S.A.
- Matrica S.p.A.
- Solvay S.A.
- NatureWorks LLC
- Total Corbion PLA bv
- PTT MCC Biochem Co. Ltd
- Roquette Feres
- Avantium
- Toray Industries Inc.
- LyondellBasell Industries Holding B.V.
- BASF SE
- BioApply
- Braskem
- Biofase
- Others (Genecis, Trifilon, Kaneka Takasaho, Danimer Scientific, Taghleef Industries, etc.)
The market is highly fragmented, with a mix of global and regional players competing for market share. To Learn More About the Global Trends Impacting the Future of Top 10 Companies in Premium Bioplastic Market
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Bioplastic Market Segmentation Analysis
-By Product Type
- Biodegradable
- Non-biodegradable
Of all, the Biodegradable product type is envisioned to exhibit noticeable growth in the global market.
-By Application
- Packaging
- Agriculture
- Consumer Goods
- Automotive Transport
- Agriculture Horticulture
- Electrical Electronics
- Textiles
- Others (Building Construction, coatings adhesives, etc.)
The Packaging application is predicted to hold a sizeable market share in the Global Bioplastic market.
-By Raw Material
- Sugarcane
- Potato
- Corn Starch
- Switch grass
- Vegetable Oil
- Cassava
- Wheat
- Others
Geographical Analysis
-By Region
- North America
- South America
- Europe
- The Middle East Africa
- Asia Pacific
Of all the regions across the globe, Europe is poised to account for the majority of the market share in the global market.
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Methodology Behind the Report
This research combines qualitative and quantitative methods, including:
- Expert interviews
- Proprietary forecasting models
- Financial and trade databases
- Government and institutional data
Forecasts are validated using top-down and bottom-up approaches to ensure accuracy and reliability.
Frequently Asked Questions About the Bioplastic Market
- What is the growth rate of the Bioplastic market from 2023–2028?
- Which segment are expected to dominate market?
- Who are the top companies and what strategies being they using?
- What are the key risks and challenges in this industry?
- How can businesses prepare for future trends?
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