Press release
Global Bioplastics Market 2023 - Global Industry Size, Share, Future Trends, Opportunity And Forecast To 2032
Bioplastics Market
The Business Research Company's Bioplastics Global Market Report 2023 identifies Increasing awareness about the importance of bioplastics as the major driver for the Bioplastics market's growth in the forecast period. Globally, there has been increasing awareness regarding the adverse effects of pollution caused by plastics manufacturing and disposal. According to a study by Pew Charitable Trusts and SYSTEMIQ, Ltd., the amount of plastic trash that flows into the oceans every year is expected to nearly triple by 2040 to 29 million metric tons, if left unchecked.
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 are BASF SE, Corbion NV, Danimer Scientific, Mitsubishi Chemical Holdings, Novamont SPA, PTT Global Chemical, FKuR Kunststoff GmbH.
A key trend in the Bioplastics market includes increasing investment in environment-friendly bioplastics. Bioplastics are prepared from biodegradable and renewable resources such as proteins, starch, and polylactic acid (PLA). The number of available products and suppliers has increased in recent years leading to increase use of bioplastics in commercial markets across the globe. For example, in January 2022, Vikas Ecotech Limited plans to invest in the environment-friendly BioPlastics (PHA) technology and in the advance stage of finalizing a Technology Tie-Up/Joint Venture with Aurapha Private Ltd. (the 'AuraPHA') to produce Biodegradable Plastics.
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https://www.thebusinessresearchcompany.com/report/bioplastics-global-market-report
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.
The Business Research Company's "Global Bioplastics Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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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
…………………………….
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
30. Appendix
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