The Bioplastics Market Is Expected To Witness Growth Exponentially By 2032
As per the bioplastics market report by The Business Research Company, the increasing awareness about the importance of bioplastics is expected to drive the market.
The global bioplastics market size grew from $7.81 billion in 2022 to $9.08 billion in 2023 at a compound annual growth rate (CAGR) of 16.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The bioplastics market size is expected to grow to $17.13 billion in 2027 at a CAGR of 17.2%.
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Major competitors in the bioplastics market include BASF SE, Corbion NV, Danimer Scientific, Mitsubishi Chemical Holdings, Novamont SPA, PTT Global Chemical, FKuR Kunststoff GmbH, NatureWorks LLC, Teijin Ltd., Toray Industries Inc., Toyota Tsusho, M&G Chemicals, Showa Denko KK, SABIC, Futerro SA, Braskem, Biome Technologies plc, BioApply, Biofase, Advance Bio Material Pvt Ltd., Biotec, PTT MCC Biochem Co Ltd., Bio-On and Avantium, Plantic Technologies.
The bioplastics market is segmented -
• By Type: Biodegradable, Non-Biodegradable
• By Distribution Channel: Online, Offline
• By Application: Rigid Packaging, Flexible Packaging, Textile, Agriculture And Horticulture, Consumer Goods, Automotive, Electronics, Building And Construction, Other Applications
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the bioplastics market in 2022.
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The bioplastics are used to reduce the pollution problem of plastic waste which suffocates the planet and polluting the environment. Bioplastics are a type of plastic produced from natural or renewable resources such as vegetable oils, starch, sugarcane, corn, and microbes like yeast. Bioplastics are sustainable, largely biodegradable, and biocompatible. Bioplastics play a crucial role in various industrial applications such as food packaging, agriculture, horticulture, composting bags, hygiene, and others.
The Table Of Content For The Bioplastics Market Include:
1. Executive Summary
2. Bioplastics Market Characteristics
3. Bioplastics Market Trends And Strategies
4. Bioplastics Market - Macro Economic Scenario
5. Bioplastics Market Size And Growth
6. Bioplastics Market Segmentation
26. Africa Bioplastics Market
27. Bioplastics Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Bioplastics Market
29. Bioplastics Market Future Outlook And Potential Analysis
The "Global Bioplastics Market Report 2023" from The Business Research Company is a comprehensive report that covers every facet of a market covering over 60 geographies and over 2500 market segments. The regional and country breakdowns section analyzes the market in each geography and the market size by region and country. Furthermore, it assesses the market's historical and projected growth and identifies bioplastics and camperificant trends and strategies that companies can leverage for business expansion.
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