Bioplastics Market Size, Trends and Insights By Type (Biodegradable and Non-biodegradable), By Application (Packaging, Automotive, Agriculture, Textile, Consumer Durables, Horticulture, and Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2022–2030


Report Code: CMI16816

Published Date: August 2022

Pages: 220

Category: Chemicals And Materials

Reports Description

The global bioplastics market size was estimated at USD 10.35 billion in 2021 and is expected to hit around USD 29.79 billion by 2030, poised to grow at a compound annual growth rate (CAGR) of 17.56% from 2022 to 2030.

The bioplastic material is derived from renewable feedstock that includes feedstock, peat moss, prolactin acid, and others. It is an alternative to petroleum-based plastics and has the capacity to reduce 30-70% of carbon dioxide emissions. The production of bioplastic requires 65% less energy than conventional petroleum plastic.

Bioplastics Market

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The global bioplastics market is evolving, and companies are now focusing more on strengthening and consolidating R&D activities; thereby, increasing production capacity. It has various applications in various end-use industries such as agriculture, textile, automotive, transportation, consumer goods, and others.

Growth Factors

The increasing demand for sustainable plastics from the packaging industry has escalated the market growth. Biodegradable plastics are portraying the same properties as conventional plastic owns. In addition, the government’s initiation and investment in bioplastic manufacturing are escalating the growth of the global bioplastics market during the forecast period. In response to this, the market is anticipated to be driven by the increasing acceptance of bioplastics in key end-use industries such as packaging, textiles, consumer goods, automotive & transportation, and medical devices among others.

Furthermore, the factors such as a change in lifestyle and the busy schedules of people make them more linear towards purchasing ready-to-eat packaged food owing to these there are several key manufacturers such as BASF SE, Toray Inc., Solvay Company, and others are actively engaged in the manufacturing of biodegradable plastics which are safe and inert for packaged food items.

Furthermore, the rapid shift in consumer preferences towards eco-friendly plastic products has boosted the market growth. For instance, bioplastics break down 60% and more within 180 days or less as compared with traditional plastics. Moreover, the Increasing landfills and waste piles have emerged as serious environmental hazards and resulted in numerous adverse effects on the flora and fauna of the ecosystem. To overcome such problems the demand for biodegradable plastic is most preferred. This is anticipated to increase the growth of the bioplastics market during the forecast period.

In response to this, the focus of governments on green procurement policies and regulations to increase the demand for bioplastics has driven the market.

Bioplastics Market Segment Analysis:

Segmentation on the Basis Of By Type

Depending upon the type, the market is segmented into biodegradable and non-biodegradable.  The biodegradable segment is expected to hold a dominant position by 2031. This is attributed to the fact that the proliferating demand for biodegradable plastic from textile, agriculture, horticulture, packaging, and other end-use sector has escalated the market growth.

The biodegradable plastic comprises poly lactic acid (PLA), starch, peat moss, PBAT, PBS, and others. Among them, poly lactic acid holds the highest share in the biodegradable segment owing to the ease of availability and benefit associated with it, which has contributed to the growth of the biodegradable segment. For instance, according to a report published by Greenpeace East Asia in the year December 2020, the global production capacity for bioplastics reached 2.11 million tonnes in 2019, of which 55.5% is biodegradable plastics, roughly 1.17 million tonnes. These factors are responsible for the overall growth of the bioplastics market.

Furthermore, the non-biodegradable segment shows considerable growth owing to the rise in industrialization, urbanization, and growing industries in developed and developing economies such as the U.S., China, India, and others that have fostered the market growth. The availability of raw materials and cost-effective petroleum-based plastics are preferred by the key manufacturers which have driven the growth of the non-biodegradable segment over the forecast period.

Bioplastics Market (By Application)

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Segmentation on the basis of Application

During the forecast period, the end use segment includes packaging, automotive, agriculture, textile, consumer durables, horticulture, and others. The packaging segment is expected to proliferate during the forecast period 2022-2031. The rapid shift towards the use of compostable plastic over synthetic across the globe has boosted the market growth.

Furthermore, the rise in population, improvement in the standard of living, and preference for ready-to-eat packaged food among working people have increased due to such factors the demand for bioplastic has increased in the packaging industry. In response to this, bioplastics are predominantly utilized in manufacturing bottles, jars, containers, and others. For instance, according to a report published by the National Investment Promotion and Facilitation Agency, the packaging industry was worth over $917 billion in 2019 and is expected to reach $1.05 trillion by 2024, growing at a CAGR of 2.8%.

In addition, there are several key players such as PepsiCo, Coca-Cola, Nescafe, and other foods & beverages companies that are focusing on the use of bio-degradable plastic for packaging their bottles, packed food items, and others. These factors are fueling the bioplastic demand and help in promoting investor interest in the packaging industry.

Moreover, the agriculture sector is expected to experience considerable growth owing to the inclined focus on the agriculture industry is driving the market growth. For instance, bioplastic is a suitable material for organic farming. Farmers are using biodegradable mulching films in the agriculture and horticulture sector since it is capable of being decomposed with food. These factors are anticipated to increase the demand for bioplastics in the agriculture sector.

Report Scope

Feature of the Report Details
Market Size in 2021 USD 10.35 Billion
Projected Market Size in 2030 USD 29.79 Billion
CAGR Growth Rate 17.56% CAGR
Base Year 2021
Forecast Period 2022-2030
Prominent Players BASF SE, BIOME TECHNOLOGIES PLC, CORBION N.V, DANIMER SCIENTIFIC, DOW INC, EASTMAN CHEMICAL COMPANY, KURARAY CO. LTD, MITSUBISHI CHEMICAL HOLDINGS, NOVAMONT S.P.A, PTT GLOBAL CHEMICAL COMPANY LIMITED, FKUR KUNSTSTOFF GmbH, INNOVIA FILMS, NATUREWORKS LLC, Toray Industries, and Others
Key Segment By Type, Application, and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options Request tailored purchasing options to fulfil your requirements for research.

Regional Overview

The Europe region has captured to dominate the market during the forecast period 2022-2030. Owing to growing trends of using biodegradable plastic in the food packaging industry. In addition, the remarkable increase in the production of bioplastic has boosted the market growth. For instance, according to an article published by European Bioplastics e.V.in the year April 2022, the European bioplastics in cooperation with the nova-Institute, global bioplastics production capacities are set to increase from around 2.42 million tonnes in 2021 to approximately 7.59 million tonnes in 2026.

In the Asia-Pacific region, the growing textile sector has increased the demand for bioplastics products. An increase in urbanization, improvement in the standard of living, increase in the fashion consciousness among people, and adoption of western culture have boosted the textile industry where biodegradable plastics are used for flexible and rigid packaging. This is projected to have a major impact on the growth of the market in the Asia-Pacific region.

The overall demand for bioplastics in the North American region is also expected to be spurred owing to the government and several NGOs initiatives and investment in promoting environmental-friendly sustainable bioplastic products by the U.S. Department of Agriculture.

Bioplastics Market (trends by region)

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COVID-19 Analysis-

The novel coronavirus is an incomparable global pandemic that has spread to over 180 countries and caused huge losses of lives and the economy around the globe. The guidelines and policies of the logistics and supply chain of the agro-food market were affected remarkably. In addition, the falling income of customers has led to a contraction in the demand for bioplastics from the agriculture, textile, packaging, and other industries during the COVID-19 period.

However, growing awareness related to a sustainable environment has boosted the growth of the bioplastic market during 2020. Furthermore, the global impact has led to a sharp reduction in demand for some types of packaging products that are condemned as non-essential. On the other hand, the demand for essential packaging such as e-commerce shipment has seen massive growth due to which the packaging sector has impeded growth during the second quarter of 2020.

In addition, supply chain disruptions due to irregular transport led to increasing lead time of raw materials, such as corn starch; thus, delaying the entire production process. For instance, according to a report by business standard, corn starch consumption has reduced by 50% from 400,000 tons to 200,000 tons. Import dependency on China for various raw materials for the production of biodegradable plastics has disturbed the growth of bioplastics during 2020.

Key Developments:

Nature Works has entered into a strategic partnership with IMA Coffee, which is a market leader in coffee handling processing and packaging. This strategic partnership has enhanced the market reach for high-performing compostable K-cup in North America during April 2021.

Segments covered in the report

By Type

  • Bio-degradable
    • PLA
    • PBAT
    • PBS
    • PHA
    • Starch blend
    • Others
  • Non-Biodegradable
    • PE
    • PET
    • PA
    • PP
    • PEF
    • PTT
    • Other

By Application

  • Packaging
  • Automotive
  • Agriculture
  • Textile
  • Consumer Durables
  • Horticulture
  • Others

By Geography

North America

  • The U.S.
  • Canada
  • Mexico

Europe

  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific

The Middle East & Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa

Latin America

  • Brazil
  • Argentina
  • Rest of Latin America

Table of Contents

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market research methodology
  • Chapter 2. Executive Summary
    • 2.1 Global Bioplastics Market, (2022 – 2030) (USD Billion)
    • 2.2 Global Bioplastics Market: snapshot
  • Chapter 3. Global Bioplastics Market – Industry Analysis
    • 3.1 Bioplastics Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 Growing demand for sustainable plastics from the packaging industry
      • 3.2.2 Driver 2
    • 3.3 Market Restraints
    • 3.4 Market Opportunities
    • 3.5 Market Challenges
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market attractiveness analysis By Type
      • 3.7.2 Market attractiveness analysis By Application
  • Chapter 4. Global Bioplastics Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 Global Bioplastics Market: company market share, 2021
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, collaborations, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. Global Bioplastics Market – Type Analysis
    • 5.1 Global Bioplastics Market overview: By Type
      • 5.1.1 Global Bioplastics Market share, By Type, 2021 and 2030
    • 5.2 Biodegradable
      • 5.2.1 Global Bioplastics Market by Biodegradable, 2022 – 2030 (USD Billion)
    • 5.3 Non-biodegradable
      • 5.3.1 Global Bioplastics Market by Non-biodegradable, 2022 – 2030 (USD Billion)
  • Chapter 6. Global Bioplastics Market – Application Analysis
    • 6.1 Global Bioplastics Market overview: By Application
      • 6.1.1 Global Bioplastics Market share, By Application, 2021 and 2030
    • 6.2 Packaging
      • 6.2.1 Global Bioplastics Market by Packaging, 2022 – 2030 (USD Billion)
    • 6.3 Automotive
      • 6.3.1 Global Bioplastics Market by Automotive, 2022 – 2030 (USD Billion)
    • 6.4 Agriculture
      • 6.4.1 Global Bioplastics Market by Agriculture, 2022 – 2030 (USD Billion)
    • 6.5 Textile
      • 6.5.1 Global Bioplastics Market by Textile, 2022 – 2030 (USD Billion)
    • 6.6 Consumer Durables
      • 6.6.1 Global Bioplastics Market by Consumer Durables, 2022 – 2030 (USD Billion)
    • 6.7 Horticulture
      • 6.7.1 Global Bioplastics Market by Horticulture, 2022 – 2030 (USD Billion)
    • 6.8 Others
      • 6.8.1 Global Bioplastics Market by Others, 2022 – 2030 (USD Billion)
  • Chapter 7. Bioplastics Market – Regional Analysis
    • 7.1 Global Bioplastics Market Regional Overview
    • 7.2 Global Bioplastics Market Share, by Region, 2021 & 2030 (USD Billion)
    • 7.3. North America
      • 7.3.1 North America Bioplastics Market, 2022 – 2030 (USD Billion)
        • 7.3.1.1 North America Bioplastics Market, by Country, 2022 – 2030 (USD Billion)
    • 7.4 North America Bioplastics Market, by Type, 2022 – 2030
      • 7.4.1 North America Bioplastics Market, by Type, 2022 – 2030 (USD Billion)
    • 7.5 North America Bioplastics Market, by Application, 2022 – 2030
      • 7.5.1 North America Bioplastics Market, by Application, 2022 – 2030 (USD Billion)
    • 7.4. Europe
      • 7.4.2 Europe Bioplastics Market, 2022 – 2030 (USD Billion)
        • 7.4.2.1 Europe Bioplastics Market, by Country, 2022 – 2030 (USD Billion)
    • 7.4 Europe Bioplastics Market, by Type, 2022 – 2030
      • 7.4.1 Europe Bioplastics Market, by Type, 2022 – 2030 (USD Billion)
    • 7.5 Europe Bioplastics Market, by Application, 2022 – 2030
      • 7.5.1 Europe Bioplastics Market, by Application, 2022 – 2030 (USD Billion)
    • 7.5. Asia Pacific
      • 7.5.3 Asia Pacific Bioplastics Market, 2022 – 2030 (USD Billion)
        • 7.5.3.1 Asia Pacific Bioplastics Market, by Country, 2022 – 2030 (USD Billion)
    • 7.4 Asia Pacific Bioplastics Market, by Type, 2022 – 2030
      • 7.4.1 Asia Pacific Bioplastics Market, by Type, 2022 – 2030 (USD Billion)
    • 7.5 Asia Pacific Bioplastics Market, by Application, 2022 – 2030
      • 7.5.1 Asia Pacific Bioplastics Market, by Application, 2022 – 2030 (USD Billion)
    • 7.6. Latin America
      • 7.6.4 Latin America Bioplastics Market, 2022 – 2030 (USD Billion)
        • 7.6.4.1 Latin America Bioplastics Market, by Country, 2022 – 2030 (USD Billion)
    • 7.4 Latin America Bioplastics Market, by Type, 2022 – 2030
      • 7.4.1 Latin America Bioplastics Market, by Type, 2022 – 2030 (USD Billion)
    • 7.5 Latin America Bioplastics Market, by Application, 2022 – 2030
      • 7.5.1 Latin America Bioplastics Market, by Application, 2022 – 2030 (USD Billion)
    • 7.7. The Middle-East and Africa
      • 7.7.5 The Middle-East and Africa Bioplastics Market, 2022 – 2030 (USD Billion)
        • 7.7.5.1 The Middle-East and Africa Bioplastics Market, by Country, 2022 – 2030 (USD Billion)
    • 7.4 The Middle-East and Africa Bioplastics Market, by Type, 2022 – 2030
      • 7.4.1 The Middle-East and Africa Bioplastics Market, by Type, 2022 – 2030 (USD Billion)
    • 7.5 The Middle-East and Africa Bioplastics Market, by Application, 2022 – 2030
      • 7.5.1 The Middle-East and Africa Bioplastics Market, by Application, 2022 – 2030 (USD Billion)
  • Chapter 8. Company Profiles
    • 8.1 BASF SE
      • 8.1.1 Overview
      • 8.1.2 Financials
      • 8.1.3 Product Portfolio
      • 8.1.4 Business Strategy
      • 8.1.5 Recent Developments
    • 8.2 BIOME TECHNOLOGIES PLC
      • 8.2.1 Overview
      • 8.2.2 Financials
      • 8.2.3 Product Portfolio
      • 8.2.4 Business Strategy
      • 8.2.5 Recent Developments
    • 8.3 CORBION N.V
      • 8.3.1 Overview
      • 8.3.2 Financials
      • 8.3.3 Product Portfolio
      • 8.3.4 Business Strategy
      • 8.3.5 Recent Developments
    • 8.4 DANIMER SCIENTIFIC
      • 8.4.1 Overview
      • 8.4.2 Financials
      • 8.4.3 Product Portfolio
      • 8.4.4 Business Strategy
      • 8.4.5 Recent Developments
    • 8.5 DOW INC
      • 8.5.1 Overview
      • 8.5.2 Financials
      • 8.5.3 Product Portfolio
      • 8.5.4 Business Strategy
      • 8.5.5 Recent Developments
    • 8.6 EASTMAN CHEMICAL COMPANY
      • 8.6.1 Overview
      • 8.6.2 Financials
      • 8.6.3 Product Portfolio
      • 8.6.4 Business Strategy
      • 8.6.5 Recent Developments
    • 8.7 KURARAY CO. LTD
      • 8.7.1 Overview
      • 8.7.2 Financials
      • 8.7.3 Product Portfolio
      • 8.7.4 Business Strategy
      • 8.7.5 Recent Developments
    • 8.8 MITSUBISHI CHEMICAL HOLDINGS
      • 8.8.1 Overview
      • 8.8.2 Financials
      • 8.8.3 Product Portfolio
      • 8.8.4 Business Strategy
      • 8.8.5 Recent Developments
    • 8.9 NOVAMONT S.P.A
      • 8.9.1 Overview
      • 8.9.2 Financials
      • 8.9.3 Product Portfolio
      • 8.9.4 Business Strategy
      • 8.9.5 Recent Developments
    • 8.10 PTT GLOBAL CHEMICAL COMPANY LIMITED
      • 8.10.1 Overview
      • 8.10.2 Financials
      • 8.10.3 Product Portfolio
      • 8.10.4 Business Strategy
      • 8.10.5 Recent Developments
    • 8.11 FKUR KUNSTSTOFF GmbH
      • 8.11.1 Overview
      • 8.11.2 Financials
      • 8.11.3 Product Portfolio
      • 8.11.4 Business Strategy
      • 8.11.5 Recent Developments
    • 8.12 INNOVIA FILMS
      • 8.12.1 Overview
      • 8.12.2 Financials
      • 8.12.3 Product Portfolio
      • 8.12.4 Business Strategy
      • 8.12.5 Recent Developments
    • 8.13 NATUREWORKS LLC
      • 8.13.1 Overview
      • 8.13.2 Financials
      • 8.13.3 Product Portfolio
      • 8.13.4 Business Strategy
      • 8.13.5 Recent Developments
    • 8.14 Toray Industries
      • 8.14.1 Overview
      • 8.14.2 Financials
      • 8.14.3 Product Portfolio
      • 8.14.4 Business Strategy
      • 8.14.5 Recent Developments

List Of Figures

  • 1. Market research Type
  • 2. Market research methodology
  • 3. Global Bioplastics Market, 2022 – 2030 (USD Billion)
  • 4. Porter’s Five Forces Analysis
  • 5. Global Bioplastics Market attractiveness, By Type
  • 6. Global Bioplastics Market attractiveness, By Application
  • 7. Global Bioplastics Market share by Type, 2022 and 2030 (USD Billion)
  • 8. Global Bioplastics Market by Biodegradable, 2022 – 2030 (USD Billion)
  • 9. Global Bioplastics Market by Non-biodegradable, 2022 – 2030 (USD Billion)
  • 10. Global Bioplastics Market share by Application, 2022 and 2030 (USD Billion)
  • 11. Global Bioplastics Market by Packaging, 2022 – 2030 (USD Billion)
  • 12. Global Bioplastics Market by Automotive, 2022 – 2030 (USD Billion)
  • 13. Global Bioplastics Market by Agriculture, 2022 – 2030 (USD Billion)
  • 14. Global Bioplastics Market by Textile, 2022 – 2030 (USD Billion)
  • 15. Global Bioplastics Market by Consumer Durables, 2022 – 2030 (USD Billion)
  • 16. Global Bioplastics Market by Horticulture, 2022 – 2030 (USD Billion)
  • 17. Global Bioplastics Market by Others, 2022 – 2030 (USD Billion)
  • 18. Global Bioplastics Market share, by Region, 2022 and 2030
  • 19. North America Bioplastics Market, 2022 – 2030 (USD Billion)
  • 20. Europe Bioplastics Market, 2022 – 2030 (USD Billion)
  • 21. Asia Pacific Bioplastics Market, 2022 – 2030 (USD Billion)
  • 22. Latin America Bioplastics Market, 2022 – 2030 (USD Billion)
  • 23. The Middle-East and Africa Bioplastics Market, 2022 – 2030 (USD Billion)

List Of Tables

  • 1. Global Bioplastics Market: Snapshot
  • 2. Drivers of the Bioplastics Market: impact analysis
  • 3. North America Bioplastics Market Revenue, By Type, 2022 – 2030 (USD Billion)
  • 4. North America Bioplastics Market Revenue, By Application, 2022 – 2030 (USD Billion)
  • 5. U.S. Bioplastics Market Revenue, By Type, 2022 – 2030 (USD Billion)
  • 6. U.S. Bioplastics Market Revenue, By Application, 2022 – 2030 (USD Billion)
  • 7. Canada Bioplastics Market Revenue, By Type, 2022 – 2030 (USD Billion)
  • 8. Canada Bioplastics Market Revenue, By Application, 2022 – 2030 (USD Billion)
  • 9. Europe Bioplastics Market Revenue, By Type, 2022 – 2030 (USD Billion)
  • 10. Europe Bioplastics Market Revenue, By Application, 2022 – 2030 (USD Billion)
  • 11. Germany Bioplastics Market Revenue, By Type, 2022 – 2030 (USD Billion)
  • 12. Germany Bioplastics Market Revenue, By Application, 2022 – 2030 (USD Billion)
  • 13. France Bioplastics Market Revenue, By Type, 2022 – 2030 (USD Billion)
  • 14. France Bioplastics Market Revenue, By Application, 2022 – 2030 (USD Billion)
  • 15. U.K. Bioplastics Market Revenue, By Type, 2022 – 2030 (USD Billion)
  • 16. U.K. Bioplastics Market Revenue, By Application, 2022 – 2030 (USD Billion)
  • 17. Italy Bioplastics Market Revenue, By Type, 2022 – 2030 (USD Billion)
  • 18. Italy Bioplastics Market Revenue, By Application, 2022 – 2030 (USD Billion)
  • 19. Spain Bioplastics Market Revenue, By Type, 2022 – 2030 (USD Billion)
  • 20. Spain Bioplastics Market Revenue, By Application, 2022 – 2030 (USD Billion)
  • 21. Rest of Europe Bioplastics Market Revenue, By Type, 2022 – 2030 (USD Billion)
  • 22. Rest of Europe Bioplastics Market Revenue, By Application, 2022 – 2030 (USD Billion)
  • 23. Asia Pacific Bioplastics Market Revenue, By Type, 2022 – 2030 (USD Billion)
  • 24. Asia Pacific Bioplastics Market Revenue, By Application, 2022 – 2030 (USD Billion)
  • 25. China Bioplastics Market Revenue, By Type, 2022 – 2030 (USD Billion)
  • 26. China Bioplastics Market Revenue, By Application, 2022 – 2030 (USD Billion)
  • 27. Japan Bioplastics Market Revenue, By Type, 2022 – 2030 (USD Billion)
  • 28. Japan Bioplastics Market Revenue, By Application, 2022 – 2030 (USD Billion)
  • 29. India Bioplastics Market Revenue, By Type, 2022 – 2030 (USD Billion)
  • 30. India Bioplastics Market Revenue, By Application, 2022 – 2030 (USD Billion)
  • 31. South Korea Bioplastics Market Revenue, By Type, 2022 – 2030 (USD Billion)
  • 32. South Korea Bioplastics Market Revenue, By Application, 2022 – 2030 (USD Billion)
  • 33. South-East Asia Bioplastics Market Revenue, By Type, 2022 – 2030 (USD Billion)
  • 34. South-East Asia Bioplastics Market Revenue, By Application, 2022 – 2030 (USD Billion)
  • 35. Rest of Asia Pacific Bioplastics Market Revenue, By Type, 2022 – 2030 (USD Billion)
  • 36. Rest of Asia Pacific Bioplastics Market Revenue, By Application, 2022 – 2030 (USD Billion)
  • 37. Latin America Bioplastics Market Revenue, By Type, 2022 – 2030 (USD Billion)
  • 38. Latin America Bioplastics Market Revenue, By Application, 2022 – 2030 (USD Billion)
  • 39. Brazil Bioplastics Market Revenue, By Type, 2022 – 2030 (USD Billion)
  • 40. Brazil Bioplastics Market Revenue, By Application, 2022 – 2030 (USD Billion)
  • 41. Mexico Bioplastics Market Revenue, By Type, 2022 – 2030 (USD Billion)
  • 42. Mexico Bioplastics Market Revenue, By Application, 2022 – 2030 (USD Billion)
  • 43. Rest of Latin America Bioplastics Market Revenue, By Type, 2022 – 2030 (USD Billion)
  • 44. Rest of Latin America Bioplastics Market Revenue, By Application, 2022 – 2030 (USD Billion)
  • 45. The Middle-East and Africa Bioplastics Market Revenue, By Type, 2022 – 2030 (USD Billion)
  • 46. The Middle-East and Africa Bioplastics Market Revenue, By Application, 2022 – 2030 (USD Billion)
  • 47. GCC Countries Bioplastics Market Revenue, By Type, 2022 – 2030 (USD Billion)
  • 48. GCC Countries Bioplastics Market Revenue, By Application, 2022 – 2030 (USD Billion)
  • 49. South Africa Bioplastics Market Revenue, By Type, 2022 – 2030 (USD Billion)
  • 50. South Africa Bioplastics Market Revenue, By Application, 2022 – 2030 (USD Billion)
  • 51. Rest of Middle-East Africa Bioplastics Market Revenue, By Type, 2022 – 2030 (USD Billion)
  • 52. Rest of Middle-East Africa Bioplastics Market Revenue, By Application, 2022 – 2030 (USD Billion)

Report Methodology

In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:

Preliminary Data Mining

On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.

Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.

Statistical Model

Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.

Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.

Some of the variables taken into account for forecasting are as follows:

• Industry drivers and constraints, as well as their current and projected impact

• The raw material case, as well as supply-versus-price trends

• Current volume and projected volume growth through 2030

We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.

Primary Validation

This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.

Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.

All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:

• Market leaders

• Suppliers of raw materials

• Suppliers of raw materials

• Buyers.

The following are the primary research objectives:

• To ensure the accuracy and acceptability of our data.

• Gaining an understanding of the current market and future projections.

Data Collection Matrix

Perspective Primary research Secondary research
Supply-side
  • Manufacturers
  • Technology distributors and wholesalers
  • Company reports and publications
  • Government publications
  • Independent investigations
  • Economic and demographic data
Demand-side
  • End-user surveys
  • Consumer surveys
  • Mystery shopping
  • Case studies
  • Reference customers


Market Analysis Matrix

Qualitative analysis Quantitative analysis
  • Industry landscape and trends
  • Market dynamics and key issues
  • Technology landscape
  • Market opportunities
  • Porter’s analysis and PESTEL analysis
  • Competitive landscape and component benchmarking
  • Policy and regulatory scenario
  • Market revenue estimates and forecast up to 2028
  • Market revenue estimates and forecasts up to 2028, by technology
  • Market revenue estimates and forecasts up to 2028, by application
  • Market revenue estimates and forecasts up to 2028, by type
  • Market revenue estimates and forecasts up to 2028, by component
  • Regional market revenue forecasts, by technology
  • Regional market revenue forecasts, by application
  • Regional market revenue forecasts, by type
  • Regional market revenue forecasts, by component

Key Market Players in the Bioplastics Market 

  • BASF SE
  • BIOME TECHNOLOGIES PLC
  • CORBION N.V
  • DANIMER SCIENTIFIC
  • DOW INC
  • EASTMAN CHEMICAL COMPANY
  • KURARAY CO. LTD
  • MITSUBISHI CHEMICAL HOLDINGS
  • NOVAMONT S.P.A
  • PTT GLOBAL CHEMICAL COMPANY LIMITED
  • FKUR KUNSTSTOFF GmbH
  • INNOVIA FILMS
  • NATUREWORKS LLC
  • Toray Industries

FAQs

“Europe” region will lead the global Bioplastics market during the forecast period 2022 to 2030.

The key factor driving the market is the increasing demand for sustainable plastics from the packaging industry has escalated the market growth. Biodegradable plastics are portraying the same properties as conventional plastic owns. In addition, the government initiation and investment in the manufacturing of bioplastic is escalating the growth of the global bioplastics market during the forecast period.

The key players operating in the Bioplastics market are BASF SE, BIOME TECHNOLOGIES PLC, CORBION N.V, DANIMER SCIENTIFIC, DOW INC, EASTMAN CHEMICAL COMPANY, KURARAY CO. LTD, MITSUBISHI CHEMICAL HOLDINGS, NOVAMONT S.P.A, PTT GLOBAL CHEMICAL COMPANY LIMITED, FKUR KUNSTSTOFF GmbH, INNOVIA FILMS, NATUREWORKS LLC, Toray Industries, and Others.

The global Bioplastics market is expanding growth with a CAGR of approximately 17.56% during the forecast period (2022 to 2030).

The global Bioplastics market size was valued at USD 10.35 billion in 2021 and it is projected to reach around USD 29.79 billion by 2030.

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