Press release
Bioplastics And Biopolymers Market: On the Path to $27.07 Billion By 2029 with an 18% CAGR- Driven by Increasing Awareness and Key Sector Trends
Bioplastics And Biopolymers Market
What Is The Projected Market Size Of The Global Bioplastics And Biopolymers Market And Its Growth Rate?
The global Bioplastics and Biopolymers market is showing remarkable growth trends. Key market developments are as follows:
* The market size in 2024 was $11.81 billion
* The market will grow to $13.95 billion, demonstrating a CAGR of 18.1% in 2025
* The forecasted market size in 2029 is $27.07 billion, showing a CAGR of 18%
What Is Driving The Growth In The Bioplastics And Biopolymers Market?
The escalating demand for packaged food is a key driver for the Bioplastics and Biopolymers market. Packaged food helps extend food's shelf life, protecting it from harmful external factors. Demonstrating this trend, the U.S. Department of Agriculture recorded a 0.6% growth in the Consumer Price Index (CPI) for food consumed away from home in April 2022, a 7.2% increase from the previous year. Additionally, the Indian Brand Equity Foundation (IBEF) estimates that India's packaged food market will quadruple to reach US$70 billion in the next five to ten years, further propelling the growth of the Bioplastics and Biopolymers market.
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Who Are the Key Players Driving Bioplastics And Biopolymers Market Growth?
The pivotal players in the Bioplastics and Biopolymers market include:
* NatureWorks LLC
* Odbinv S.A.
* BASF SE
* TotalEnergies Corbion Ltd.
* Novamont S.P.A
* Biome Bioplastics Limited
* Mitsubishi Chemical Holding Corporation
* Toray Industries Inc.
* Plantic Technologies Ltd.
* Bio-on Plants S.r.l.
* Eastman Chemical Company
* Futamura Group
* Danimer Scientific Inc.
* Corbion NV
* Arkema SA
* Cardia Bioplastics Limited
* Eni S.p.A.
* FKuR Kunststoff GmbH
* CCL Industries Inc.
* Kaneka Corporation
* Metabolix Inc.
* NaturePlast
* Newlight Technologies Inc.
* PTT MCC Biochem Company Limited
* Rodenburg Biopolymers BV
* Shenzhen Ecomann Biotechnology Co. Ltd.
* Showa Denko KK
* Solanyl Biopolymers Inc.
* Solegear Bioplastic Technologies Inc.
* Stora Enso Oyj
What Are The Key Trends In The Bioplastics And Biopolymers Market?
A series of emerging trends are shaping the market landscape:
* Biodegradability and compostability
* Use of renewable feedstocks
* Technological advancements
* Development of hybrid materials
* Waste-to-bioplastics technologies
* Production of bio-based pet (polyethylene terephthalate)
* Conduct of life cycle assessments (LCAs)
* Formation of collaborations and partnerships
What Are The Segments Of The Global Bioplastics And Biopolymers Market?
The global Bioplastics and Biopolymers market can be divided into the following segments:
1) By Type: Non-Biodegradable Or Biobased, Biodegradable, Other Types
2) By Raw Materials: Biomass, Natural Or Genetically Modified Organisms, Bio-Based Monomers, Petrochemicals
3) By End-Use Industry: Packaging, Consumer Goods, Automotive And Transportation, Textiles, Agriculture And Horticulture, Other End-Use Industries
Which Region Leads The Bioplastics And Biopolymers Market?
As of 2024, North America was the largest region in the Bioplastics and Biopolymers market. However, the Asia-Pacific region is expected to be the fastest-growing during the forecast period. The regions comprehensively analyzed in this report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Bioplastics And Biopolymers Market Global Market Report?
- Market Size Analysis: Analyze the Bioplastics And Biopolymers Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Bioplastics And Biopolymers Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Bioplastics And Biopolymers Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Bioplastics And Biopolymers Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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