Bioplastics & Biopolymers Market to Witness Huge Growth by Key Players: NatureWorks LLC, Braskem, BASF SE, TotalEnergies Corbion, Novamont S.P.A, Biome Bioplastics Limited, Mitsubishi Chemical Group Corporation, Biotec Biologische Naturverpackungen GmbH &

The global market size of bioplastics & biopolymers market was USD 11.5 billion in 2022 and is projected to reach USD 27.3 billion by 2027, at a CAGR of 18.9%, during the same period. The key drivers of the bioplastics & biopolymers market are the increased use of bioplastics in the packaging end-use industry, increased focus of government on green procurement policies and regulations.

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Bioplastics and biopolymers are a type of plastic made from renewable resources such as corn starch, sugarcane, and cassava roots, instead of petroleum. The market for bioplastics and biopolymers has been growing rapidly due to increasing demand for eco-friendly and sustainable products, as well as government regulations aimed at reducing plastic waste. The market is expected to continue growing in the coming years, driven by factors such as rising awareness about the negative impacts of petroleum-based plastics and increasing investment in the development of new bioplastics and biopolymers. Key applications of bioplastics and biopolymers include packaging, agriculture, and textiles.

In terms of value, PHA in biodegradable type accounts for the fastest-growing segment in bioplastics & biopolymers market, by product type, during the forecast period.

PHAs are known for their superior high-temperature performance that enables their application in a wide variety of end-use industries like packaging, medical consumer goods. Manufacturers like Tepha-Flex, one of the major players use PHA for biomedical applications such as surgical sutures, surgical mesh, and surgical films, are focusing on the further development of devices for anterior cruciate ligament repair, etc.

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In terms of value, cassava is estimated to be second-growing segment in bioplastics & biopolymers market, by raw material, during the forecast period.
Cassava is a cheap and common root vegetable across Indonesia and a promising raw material for the development of bioplastics. Bioplastics made from Cassava starch are as tough as traditional plastics made of petroleum. It is biodegradable and compostable. It can break down over a period of months on land or at sea. Cassava bioplastics can be used for food packaging or carrier bags.
In terms of value, agriculture & horticulture is estimated to be fastest-growing segment in bioplastics & biopolymers market, by end use, during the forecast period.

Biopolymers offer specific advantages, such as biodegradability and biobased content, making them a preferable choice in agriculture. Farmers have been using PBAT and PBS mulch films to improve crop productivity and soil quality. These polymers are also used in the cultivation, harvesting, and processing of agricultural products.
North America region accounted for the second-fastest growing segment in the bioplastics & biopolymers market by value.

North America is the second-largest bioplastics & biopolymers market in terms of value, in 2021. The countries in the region have already started implementing new regulations that promote the wide use of bioplastic materials. However, the progress is hindered due to weak and unclear enforcement guidelines from the governments. Bioplastics are used in various industries such as packaging & bags (food and paramedical packaging), consumer goods, agriculture & horticulture (landfill, soil control, and mulch), textile (fabric processing), and others (biomedical, automotive, and building & construction) in the North American region.

Breakdown of primaries:
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the bioplastics & biopolymers market, and information was gathered from secondary research to determine and verify the market size of several segments. The break-up of the primaries is as follows:
• By Company Type: Tier 1 - 35%, Tier 2 - 35%, and Tier 3 - 30%
• By Designation: C Level Executives- 40%, Directors - 40%, and Others - 20%
• By Region: Asia Pacific - 50%, Europe - 20%, North America - 10%, the Middle East & Africa - 10%, and South America- 10%

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NatureWorks LLC (US), Braskem (Brazil), BASF SE (Germany), TotalEnergies Corbion (Netherlands), Novamont S.P.A (Italy), Biome Bioplastics Limited (UK), Mitsubishi Chemical Group Corporation (Japan), Biotec Biologische Naturverpackungen GmbH & Co. (Germany), Plantic Technologies Limited (Australia), and Toray Industries, Inc. (Japan) are the key players in the bioplastics & biopolymers market.

Research Coverage:
This report provides detailed segmentation of the bioplastics & biopolymers market based on by raw material type, product type, by end-use industry, and region. Based on product type, the market has been segmented into biodegradable & non-biodegradable. Further biodegradable is segmented into PLA, PBS, PBAT, starch based, PHA, cellulose films. Non-biodegradable/bio based is segmented into Bio-PE, Bio-PP, Bio-PET, Bio-PA, PEF, PTT. Based on raw material type, the market has been segmented into sugarcane/ sugar beet, cassava, corn starch, wheat, switchgrass, vegetable oil. Based on end-use industry, the market has been segmented into packaging (flexible & rigid), textiles, automotive & transport, consumer goods, agriculture & horticulture, coatings & adhesives, building & construction, electricals &electronics.

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