Global Bioplastics Market Size To Exceed USD 73.5 Billion By 2033 | Key Players are NatureWorks LLC, BASF SE, TORAY INDUSTRIES, INC., PTT MCC Biochem Co., Ltd. and others

According to a research report published by Spherical Insights & Consulting, the Global Bioplastics Market Size is to Grow from USD 9.5 Billion in 2023 to USD 73.5 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 22.7% during the projected period.

Comprehensive historical analysis of global market for Bioplastics Market has thoroughly analyzed in this report. It offers data and insights from 2019-2022, and provides extensive market forecasts from 2023-2033 by region/country and subsectors. It covers the price, sales volume, revenue, historical growth, gross margin, and future outlooks for the Global Bioplastics Market.

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Market Overview
Renewable biomass sources, including vegetable fats and oils, corn starch, straw, woodchips, sawdust, and recovered food waste, are used to make bioplastics. In contrast to bioplastics, which are produced chemically from sugar derivatives and lipids derived from plants or animals or biologically through fermentation of sugars or lipids, bioplastics are produced directly from natural biopolymers, such as proteins and polysaccharides.

The environmental effects of polymers derived from fossil fuels have opened the door to research into the characteristics of biopolymer-based plastics and their uses in the food packaging, pharmaceutical, electronics, agricultural, automotive, and cosmetic industries.

Investigating various sources and uses for bioplastics has been made possible by technology advancements and the rising demand from consumers for eco-friendly materials. The market demand for bioplastics is being driven by the need for sustainability regulatory requirements due to environmental concerns and a lower carbon footprint.

The worldwide bioplastic market is also being driven by the need for bioplastics as flexible packaging sheets for non-food products like medication, food items, and beverage bottles. On the contrary, the global bioplastics market is being restrained by the rising demand from consumers for compost and the higher price of bioplastics.

The global Bioplastics Market is witnessing robust growth due to:
>>The rising number of sustainability regulations and government initiatives promoting the use of eco-friendly materials.

>>Increasing demand for biodegradable and compostable packaging solutions, especially in the food & beverage and consumer goods sectors.

>>Technological innovations in bio-based polymer production, including advancements in fermentation processes, feedstock efficiency, and material performance.

Browse key industry insights spread across 243 pages with 111 Market data tables and figures & charts from the report on the "Global Bioplastics Market Size, Share, and COVID-19 Impact Analysis, By Type (Biodegradable and Non-biodegradable), By Application (Rigid Packaging, Flexible Packaging, Textiles, Automotive & Transportation, Agriculture & Horticulture, and Consumer Goods), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 - 2033.

Throughout the projected period, the biodegradable category holds the biggest revenue share and leads the market.

The worldwide bioplastics market is divided into two segments based on type: biodegradable and non-biodegradable. Through the projected period, the biodegradable category holds the biggest revenue share and leads the market. Biodegradable polymers include cellulose acetate, polylactic acid, starch blends, PBS, PBAT, PHA, and polycaprolactone. These help lower carbon emissions, require less energy, and break down rapidly. Furthermore, the market demand for biodegradable bioplastics is driven by stringent regulatory requirements, sustainability goals, and growing environmental concerns.

In 2023, the global bioplastics market was dominated by the rigid packaging category.

The global bioplastics market is divided into segments based on application: textiles, automotive & transportation, agricultural & horticulture, rigid packaging, flexible packaging, and consumer products. In 2023, the global bioplastics market was dominated by the rigid packaging category. Cosmetics are packaged using rigid bioplastics like PLA, bio-PE, or bio-PET. Demand for sustainable rigid packaging is being driven by consumers growing preference for eco-friendly materials and designs that reduce adverse environmental effects.

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Throughout the projection period, Europe holds the biggest market share and leads the industry.

Throughout the projection period, Europe holds the biggest market share and leads the industry. In the European Union, almost 100 billion bags are used annually. The region's market is expected to be driven by the thriving automotive sector and the rising need for bio-based packaging products. Bioplastics are being utilized more and more in many necessary applications, including bottles, retail bags, refuge bags, loose packaging, and agricultural mulch films. The industry is also being driven by the strong demand for bioplastic packaging for premium, branded goods and for wrapping organic food.

Over the course of the forecast period, the North American region is anticipated to increase at the fastest rate. The market for bioplastics is anticipated to be driven by the U.S. Department of Agriculture's expanding efforts to promote ecologically friendly products. The desire for bio-based packaging is increased by the trend toward environmentally friendly packaging options. Due to consumers' growing desire for high-quality items, there is an increasing need for electronic goods and lightweight automotive parts.

Leading players of Bioplastics Market including:
• NatureWorks LLC
• BASF SE
• TORAY INDUSTRIES, INC.
• PTT MCC Biochem Co., Ltd.
• Braskem
• Solvay
• Braskem
• Total Corbion PLAIR
• TEIJIN LIMITED
• Novamont S.p.A.
• Toyota Tsusho Corporation
• Avantium
• An Phat Holdings
• SABIC
• Arkema S.A.
• Others

Market Challenges - Bioplastics Market
High Production Costs
• Bioplastics are generally more expensive to produce than conventional plastics due to costly raw materials and complex processing methods.
• This price gap limits adoption, especially in price-sensitive industries like packaging and retail.

Limited Industrial Composting Infrastructure
• Many biodegradable bioplastics require industrial composting conditions, which are not widely available, especially in developing countries.
• Lack of proper disposal facilities reduces environmental benefits and causes confusion among consumers.

Feedstock Limitations & Land Use Concerns
• Bioplastics often rely on crops like corn, sugarcane, and potatoes, raising concerns about competition with food supply, land use, and deforestation.

Performance Limitations
• Some bioplastics have lower heat resistance, durability, or barrier properties compared to fossil-based plastics.
• This limits their use in high-performance or long-life applications (e.g., automotive, electronics).

Research Objectives - Bioplastics Market
>>To analyze the current size and future growth potential of the global bioplastics market across various regions and segments.

>>To identify key market drivers, restraints, and challenges influencing the adoption of bioplastics in different industries (e.g., packaging, automotive, agriculture, consumer goods).

>>To evaluate the impact of government policies, sustainability regulations, and environmental initiatives on the bioplastics industry globally.

>>To assess technological advancements and innovations in bio-based polymer materials such as PLA, PHA, PBAT, and starch blends.

>>To study the competitive landscape, including company profiles, product offerings, strategic partnerships, and R&D investments of leading bioplastics manufacturers.

Recent Developments
• In May 2023, Xiamen Changsu Industrial Pte Ltd (Changsu Industrial) and TotalEnergies Corbion announced a strategic cooperation agreement that would further advance the polylactic acid (PLA) industry. They would work together in the market promotion, product development, and research and development of new technologies and applications of biaxially oriented polylactic acid (BOPLA).

Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global bioplastics market based on the below-mentioned segments:

Global Bioplastics Market, Type Analysis
• Biodegradable
• Non-biodegradable

Global Bioplastics Market, Application Analysis
• Rigid Packaging
• Flexible Packaging
• Textiles
• Automotive & Transportation
• Agriculture & Horticulture
• Consumer Goods

Regional Segment Analysis of the Global Bioplastics Market
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

What's covered in the report?
1. Overview of the Bioplastics Market.
2. The current and forecasted regional (North America, Europe, Asia-Pacific, Latin America, the Middle East and Africa) market size data for the Bioplastics Market, based on segment.
3 Bioplastics Market trends.
4. Bioplastics Market drivers.
5. Analysis of major company profiles.

PESTLE Analysis - Bioplastics Market
Political Factors
• Government Policies & Incentives: Many countries offer subsidies, tax breaks, and grants to promote the use of bioplastics and reduce plastic pollution.

• Ban on Single-Use Plastics: Regulations banning or restricting traditional plastics are directly encouraging bioplastics adoption.

Economic Factors
• High Production Costs: Bioplastics are costlier than conventional plastics, which limits market growth in cost-sensitive applications.
• Oil Price Volatility: Fluctuations in crude oil prices impact the cost competitiveness of bioplastics compared to fossil-based plastics.

Social Factors
• Rising Environmental Awareness: Consumers are increasingly choosing eco-friendly packaging and products, supporting market growth.
• Changing Consumer Preferences: Demand for sustainable, biodegradable, and compostable alternatives is rising in food, fashion, and personal care.

Technological Factors
• Advances in Biopolymer Technology: New methods of producing PLA, PHA, PBS, and starch-based plastics improve strength, heat resistance, and biodegradability.

• Feedstock Innovation: R&D into non-food sources like algae, agricultural waste, and seaweed reduces dependency on food crops.

Legal Factors
• Lack of Global Standards: Inconsistent definitions and certifications for biodegradable and compostable create confusion and regulatory hurdles.
• Product Labeling Requirements: Legal obligations to provide accurate environmental claims on packaging are increasing.

Environmental Factors
• Reduced Carbon Footprint: Bioplastics offer lower GHG emissions and energy usage compared to petroleum-based plastics.
• Waste Management Issues: Without proper composting infrastructure, bioplastics may still end up in landfills or oceans.

Table of Content (TOC)
• Introduction
1. Objectives of the Study
2. Market Definition
3. Research Scope
• Research Methodology and Assumptions
• Executive Summary
• Premium Insights
1. Porter's Five Forces Analysis
2. Value Chain Analysis
3. Top Investment Pockets
1. Market Attractiveness Analysis By Product Type
2. Market Attractiveness Analysis By Type
3. Market Attractiveness Analysis By Segment Type
4. Market Attractiveness Analysis By Region
4. Industry Trends
• Market Dynamics
1. Market Evaluation
2. Drivers
1. Increasing development in sector
3. Restraints
4. Opportunities
5. Challenges
• Global Bioplastics Market Analysis and Projection, By Product Type
• Global Bioplastics Market Analysis and Projection, By Type
• Global Bioplastics Market Analysis and Projection, By Segment Type
• Global Bioplastics Market Analysis and Projection, By Regional Analysis
1. Segment Overview
2. North America
1. U.S.
2. Canada
3. Mexico
3. Europe
1. Germany
2. France
3. U.K.
4. Italy
5. Spain
4. Asia-Pacific
1. Japan
2. China
3. India
5. South America
1. Brazil
6. Middle East and Africa
1. UAE
2. South Africa
• Global Bioplastics Market-Competitive Landscape
1. Overview
2. Market Share of Key Players in the Global Bioplastics Market
1. Global Company Market Share
2. North America Company Market Share
3. Europe Company Market Share
4. APAC Company Market Share
3. Competitive Situations and Trends
1. Coverage Launches and Developments
2. Partnerships, Collaborations, and Agreements
3. Mergers & Acquisitions
4. Expansions
• Company Profiles
1. Company1
1. Business Overview
2. Company Snapshot
3. Company Market Share Analysis
4. Company Coverage Portfolio
5. Recent Developments
6. SWOT Analysis
2. Company2
1. Business Overview
2. Company Snapshot
3. Company Market Share Analysis
4. Company Coverage Portfolio
5. Recent Developments
6. SWOT Analysis
3. Company3
1. Business Overview
2. Company Snapshot
3. Company Market Share Analysis
4. Company Coverage Portfolio
5. Recent Developments
6. SWOT Analysis

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