The global bioplastics market is poised for significant growth, forecast to expand from a valuation of US$10.08 Bn in 2024 to reach US$35.86 Bn by 2031. This remarkable progression represents CAGR of 20% between 2024-2031, reflecting increasing consumer demand, and industrial adoption.
As industries and consumers increasingly prioritise sustainability, the market for bioplastics is set to rise, driven by advances in materials science and growing environmental awareness.
Market Overview
The global bioplastics market, valued at approximately US$10.08 Bn as of 2024, will be primarily driven by stringent environmental regulations, advancements in bioplastic technologies, and increasing consumer demand for sustainable products. Governments are enforcing policies that favour biodegradable and bio-based alternatives to conventional plastics, spurring industry-wide shifts.
Technological innovations are enhancing the performance and cost-effectiveness of bioplastics, broadening their application across sectors like automotive, agriculture, and textiles. Despite challenges such as higher production costs and competition for raw materials, the market outlook remains optimistic, buoyed by a growing consumer preference for eco-friendly options and substantial opportunities for innovation in the field.
Key Report Findings
- The bioplastics market size is projected to witness expansion at a CAGR of 20%, driven by increasing demand for sustainable products and advancements in material technologies.
- Market growth is fuelled by stringent environmental regulations, technological innovations, and shifting consumer preferences towards eco-friendly products.
- Opportunities for market expansion include the exploration of new industrial applications, innovations in biodegradable plastics, and the integration of bioplastics into circular economy models.
- The market faces challenges such as scaling production, securing sustainable raw material supplies, and increasing consumer and industrial adoption, amidst a competitive landscape dominated by major players like BASF, NatureWorks, and Novamont.
Market Drivers
Regulatory Support, and Environmental Policies
Increasing global regulations aimed at reducing plastic waste are significant drivers for the bioplastics market. Governments worldwide are implementing bans on single-use plastics and promoting the use of biodegradable and renewable materials. This regulatory push encourages manufacturers across various industries to adopt bioplastics, boosting market growth.
Technological Advancements
Innovations in bioplastic production technologies have improved the properties of bioplastics, making them more competitive with traditional plastics in terms of functionality and cost. Enhanced biodegradability, strength, and flexibility have expanded bioplastics' applicability in high-demand sectors such as automotive, packaging, and consumer goods, further stimulating market expansion.
Consumer Demand for Sustainable Products
A significant shift in consumer behaviour towards sustainability is driving demand for bioplastics. More consumers are choosing products with eco-friendly packaging, which prompts companies to integrate bioplastics into their product lines to meet market expectations and enhance brand image.
Market Opportunities
Expansion into Newer Industries
As bioplastics continue to advance in terms of their physical properties, and cost effectiveness, they are becoming viable options for a wider range of industries.
Opportunities are particularly prominent in sectors such as automotive, where bioplastics can be used to reduce vehicle weight and increase fuel efficiency, and in construction, where sustainable materials are increasingly favoured for both insulation and structural components. This diversification into new markets can significantly broaden the customer base and application spectrum for bioplastics.
Innovation in Biodegradable Plastics
There is a growing demand for fully biodegradable plastics that decompose within a short timeframe without leaving toxic residues. Research and development focused on creating such materials can tap into niche markets that specifically require eco-friendly disposal options, such as agriculture for mulch films and in healthcare for bioresorbable medical implants.
Integration with Circular Economy Models
Bioplastics fit well with the circular economy model, which emphasizes the reduction, reuse, and recycling of materials. Developing bioplastics that are not only bio-based but also recyclable at the end of their life cycle can attract businesses looking to enhance their sustainability practices. Furthermore, establishing robust recycling processes for bioplastics can open new business models and revenue streams, promoting a more sustainable approach to plastic use globally.
Market Challenges
Scaling Production, and Reducing Costs
One of the primary challenges in the bioplastics industry is scaling production to meet growing demand while simultaneously reducing manufacturing costs. Current production levels of bioplastics are relatively low compared to conventional plastics, leading to higher per-unit costs. Economies of scale are essential for reducing these costs, but achieving this scale requires significant investment in new facilities and technology.
Supply Chain Uncertainties, and Raw Material Availability
Bioplastics heavily rely on agricultural products such as corn, sugarcane, and cassava, which are subject to variability in price and supply due to weather conditions, agricultural policies, and competition with food production. Ensuring a stable, sustainable supply of these raw materials without impacting food prices or availability represents a significant challenge for the industry.
Consumer and Industry Adoption
Despite growing awareness of environmental issues, there is still a considerable gap in the adoption of bioplastics by consumers and industries, primarily due to lack of awareness, performance misconceptions, and the higher costs associated with bioplastics. Overcoming these barriers requires continued education on the benefits of bioplastics, as well as improvements in product performance to match or exceed that of traditional plastics.
Competitive Analysis
The competitive landscape of the bioplastics market is marked by the dominance of both large chemical companies and specialised bioplastics firms, such as NatureWorks, BASF, and Novamont, who are pioneering innovations and expanding their product lines to meet diverse application needs. These companies invest heavily in R&D to enhance the performance and cost-effectiveness of bioplastics, leveraging strategic partnerships with raw material providers, technology developers, and end-users to streamline supply chains and foster innovation.
Companies in Global Bioplastics Market
- BASF SE
- Natureworks LLC
- Biome Bioplastics Limited
- BIOTEC
- Plantic Technologies Ltd
- Mitsubishi Chemical Holdings Corporation
- FUTERRO S.A.
- Danimer Scientific
- Novamont S.p.A.
- Green Dot Bioplastics, Inc.
Significant Industry Developments
- Novamont, a leading bioplastics company, unveiled a new advancement in their Mater-Bi line specifically designed for food packaging. This innovative material offers improved performance compared to previous iterations, while still maintaining its biodegradability. This caters directly to the growing consumer demand for sustainable solutions in food packaging. With both functionality and environmental responsibility addressed, this new Mater-Bi bioplastic has the potential to be a game-changer in the food industry.
- BASF (Germany) celebrated the completion of a new production facility in Thailand on February 14, 2024. This facility marks a major step forward for BASF's bio-based ambitions. The plant will be dedicated to the large-scale production of two key bioplastic materials: biodegradable polyamide and bio-based polyethylene. This strategic expansion directly addresses the rapidly growing demand for sustainable alternatives in various industries. By significantly increasing their production capacity, BASF positions itself to be a major supplier of these eco-friendly materials, potentially influencing a wide range of applications from packaging to textiles. This development is a strong indicator of BASF's commitment to innovation and its role in shaping the future of sustainable plastics.
Market Segmentation
By Type
- Biodegradable
- Polybutylene Adipate Terephthalate (PBAT)
- Polybutylene Succinate (PBS)
- Polylactic Acid (PLA)
- Polyhydroxyalkanoate (PHA)
- Starch Blends
- Others
- Non-Biodegradable
- Polyethylene (PE)
- Polyamide (PA)
- Polyethylene Terephthalate (PET)
- Polyethylene Furanoate (PEF)
- Polytrimethylene Terephthalate (PTT)
- Polypropylene (PP)
- Others
By Distribution Channel
- Online
- Offline
By Application
- Packaging
- Textile
- Automotive & Transportation
- Consumer Goods
- Agriculture
- Building & Construction
- Others
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
1. Executive Summary
1.1. Global Bioplastics Market Snapshot
1.2. Key Market Trends
1.3. Future Projections
1.4. Analyst Recommendations
2. Market Overview
2.1. Market Definitions and Segmentations
2.2. Market Dynamics
2.2.1. Drivers
2.2.1.1. Driver A
2.2.1.2. Driver B
2.2.1.3. Driver C
2.2.2. Restraints
2.2.2.1. Restraint 1
2.2.2.2. Restraint 2
2.2.3. Market Opportunities Matrix
2.3. Value Chain Analysis
2.4. Porter’s Five Forces Analysis
2.5. Covid-19 Impact Analysis
2.5.1. Pre-covid and Post-covid Scenario
2.5.2. Supply Impact
2.5.3. Demand Impact
2.6. Government Regulations
2.7. Technology Landscape
2.8. Share of rPET in Parent Market
2.9. Raw Material Analysis
2.10. Economic Analysis
3. Production Output and Trade Statistics, 2019 – 2022
3.1. Bioplastics Supply-Demand Analysis
3.2. Regional Production Statistics
3.2.1. North America
3.2.2. Europe
3.2.3. Asia Pacific
3.2.4. Latin America
3.2.5. Middle East & Africa
4. Price Trends Analysis and Future Projects, 2019 - 2030
4.1. Key Highlights
4.2. Prominent Factors Affecting Prices
4.3. By Product and By End-users
4.4. By Region
5. Global Bioplastics Market Outlook, 2019 - 2030
5.1. Global Bioplastics Market Outlook, by Product, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
5.1.1. Key Highlights
5.1.1.1. Non-biodegradable
5.1.1.1.1. PE
5.1.1.1.2. PET
5.1.1.1.3. PA
5.1.1.1.4. PTT
5.1.1.1.5. Misc. (PP, etc.)
5.1.1.2. Biodegradable
5.1.1.2.1. PBAT
5.1.1.2.2. PLA
5.1.1.2.3. PBS
5.1.1.2.4. Starch Blends
5.1.1.2.5. PHA
5.1.1.2.6. Misc. (Cellulose Films, etc.)
5.2. Global Bioplastics Market Outlook, by End-users, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
5.2.1. Key Highlights
5.2.1.1. Packaging
5.2.1.1.1. Rigid
5.2.1.1.2. Flexible
5.2.1.2. Consumer Goods
5.2.1.3. Textiles
5.2.1.4. Agriculture
5.2.1.5. Automotive
5.2.1.6. Automotive
5.2.1.7. Electrical & Electronics
5.2.1.8. Building & Construction
5.2.1.9. Misc. (Medical, etc.)
5.3. Global Bioplastics Market Outlook, by Region, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
5.3.1. Key Highlights
5.3.1.1. North America
5.3.1.2. Europe
5.3.1.3. Asia Pacific
5.3.1.4. Latin America
5.3.1.5. Middle East & Africa
5.3.2. BPS Analysis/Market Attractiveness Analysis
6. North America Bioplastics Market Outlook, 2019 - 2030
6.1. North America Bioplastics Market Outlook, by Product, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
6.1.1. Key Highlights
6.1.1.1. Non-biodegradable
6.1.1.1.1. PE
6.1.1.1.2. PET
6.1.1.1.3. PA
6.1.1.1.4. PTT
6.1.1.1.5. Misc. (PP, etc.)
6.1.1.2. Biodegradable
6.1.1.2.1. PBAT
6.1.1.2.2. PLA
6.1.1.2.3. PBS
6.1.1.2.4. Starch Blends
6.1.1.2.5. PHA
6.1.1.2.6. Misc. (Cellulose Films, etc.)
6.2. North America Bioplastics Market Outlook, by End-users, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
6.2.1. Key Highlights
6.2.1.1. Packaging
6.2.1.1.1. Rigid
6.2.1.1.2. Flexible
6.2.1.2. Consumer Goods
6.2.1.3. Textiles
6.2.1.4. Agriculture
6.2.1.5. Automotive
6.2.1.6. Automotive
6.2.1.7. Electrical & Electronics
6.2.1.8. Building & Construction
6.2.1.9. Misc. (Medical, etc.)
6.3. North America Bioplastics Market Outlook, by Country, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
6.3.1. Key Highlights
6.3.1.1. U.S.
6.3.1.2. Canada
6.3.2. BPS Analysis/Market Attractiveness Analysis
7. Europe Bioplastics Market Outlook, 2019 - 2030
7.1. Europe Bioplastics Market Outlook, by Product, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
7.1.1. Key Highlights
7.1.1.1. Non-biodegradable
7.1.1.1.1. PE
7.1.1.1.2. PET
7.1.1.1.3. PA
7.1.1.1.4. PTT
7.1.1.1.5. Misc. (PP, etc.)
7.1.1.2. Biodegradable
7.1.1.2.1. PBAT
7.1.1.2.2. PLA
7.1.1.2.3. PBS
7.1.1.2.4. Starch Blends
7.1.1.2.5. PHA
7.1.1.2.6. Misc. (Cellulose Films, etc.)
7.2. Europe Bioplastics Market Outlook, by End-users, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
7.2.1. Key Highlights
7.2.1.1. Packaging
7.2.1.1.1. Rigid
7.2.1.1.2. Flexible
7.2.1.2. Consumer Goods
7.2.1.3. Textiles
7.2.1.4. Agriculture
7.2.1.5. Automotive
7.2.1.6. Automotive
7.2.1.7. Electrical & Electronics
7.2.1.8. Building & Construction
7.2.1.9. Misc. (Medical, etc.)
7.3. Europe Bioplastics Market Outlook, by Country, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
7.3.1. Key Highlights
7.3.1.1. Germany
7.3.1.2. France
7.3.1.3. U.K.
7.3.1.4. Italy
7.3.1.5. Spain
7.3.1.6. Turkey
7.3.1.7. Russia
7.3.1.8. Rest of Europe
7.3.2. BPS Analysis/Market Attractiveness Analysis
8. Asia Pacific Bioplastics Market Outlook, 2019 - 2030
8.1. Asia Pacific Bioplastics Market Outlook, by Product, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
8.1.1. Key Highlights
8.1.1.1. Non-biodegradable
8.1.1.1.1. PE
8.1.1.1.2. PET
8.1.1.1.3. PA
8.1.1.1.4. PTT
8.1.1.1.5. Misc. (PP, etc.)
8.1.1.2. Biodegradable
8.1.1.2.1. PBAT
8.1.1.2.2. PLA
8.1.1.2.3. PBS
8.1.1.2.4. Starch Blends
8.1.1.2.5. PHA
8.1.1.2.6. Misc. (Cellulose Films, etc.)
8.2. Asia Pacific Bioplastics Market Outlook, by End-users, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
8.2.1. Key Highlights
8.2.1.1. Packaging
8.2.1.1.1. Rigid
8.2.1.1.2. Flexible
8.2.1.2. Consumer Goods
8.2.1.3. Textiles
8.2.1.4. Agriculture
8.2.1.5. Automotive
8.2.1.6. Automotive
8.2.1.7. Electrical & Electronics
8.2.1.8. Building & Construction
8.2.1.9. Misc. (Medical, etc.)
8.3. Asia Pacific Bioplastics Market Outlook, by Country, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
8.3.1. Key Highlights
8.3.1.1. China
8.3.1.2. Japan
8.3.1.3. South Korea
8.3.1.4. India
8.3.1.5. Southeast Asia
8.3.1.6. Rest of Asia Pacific
8.3.2. BPS Analysis/Market Attractiveness Analysis
9. Latin America Bioplastics Market Outlook, 2019 - 2030
9.1. Latin America Bioplastics Market Outlook, by Product, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
9.1.1. Key Highlights
9.1.1.1. Non-biodegradable
9.1.1.1.1. PE
9.1.1.1.2. PET
9.1.1.1.3. PA
9.1.1.1.4. PTT
9.1.1.1.5. Misc. (PP, etc.)
9.1.1.2. Biodegradable
9.1.1.2.1. PBAT
9.1.1.2.2. PLA
9.1.1.2.3. PBS
9.1.1.2.4. Starch Blends
9.1.1.2.5. PHA
9.1.1.2.6. Misc. (Cellulose Films, etc.)
9.2. Latin America Bioplastics Market Outlook, by End-users, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
9.2.1. Key Highlights
9.2.1.1. Packaging
9.2.1.1.1. Rigid
9.2.1.1.2. Flexible
9.2.1.2. Consumer Goods
9.2.1.3. Textiles
9.2.1.4. Agriculture
9.2.1.5. Automotive
9.2.1.6. Automotive
9.2.1.7. Electrical & Electronics
9.2.1.8. Building & Construction
9.2.1.9. Misc. (Medical, etc.)
9.3. Latin America Bioplastics Market Outlook, by Country, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
9.3.1. Key Highlights
9.3.1.1. Brazil
9.3.1.2. Mexico
9.3.1.3. Rest of Latin America
9.3.2. BPS Analysis/Market Attractiveness Analysis
10. Middle East & Africa Bioplastics Market Outlook, 2019 - 2030
10.1. Middle East & Africa Bioplastics Market Outlook, by Product, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
10.1.1. Key Highlights
10.1.1.1. Non-biodegradable
10.1.1.1.1. PE
10.1.1.1.2. PET
10.1.1.1.3. PA
10.1.1.1.4. PTT
10.1.1.1.5. Misc. (PP, etc.)
10.1.1.2. Biodegradable
10.1.1.2.1. PBAT
10.1.1.2.2. PLA
10.1.1.2.3. PBS
10.1.1.2.4. Starch Blends
10.1.1.2.5. PHA
10.1.1.2.6. Misc. (Cellulose Films, etc.)
10.2. Middle East & Africa Bioplastics Market Outlook, by End-users, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
10.2.1. Key Highlights
10.2.1.1. Packaging
10.2.1.1.1. Rigid
10.2.1.1.2. Flexible
10.2.1.2. Consumer Goods
10.2.1.3. Textiles
10.2.1.4. Agriculture
10.2.1.5. Automotive
10.2.1.6. Automotive
10.2.1.7. Electrical & Electronics
10.2.1.8. Building & Construction
10.2.1.9. Misc. (Medical, etc.)
10.2.2. BPS Analysis/Market Attractiveness Analysis
10.3. Middle East & Africa Bioplastics Market Outlook, by Country, Volume (Kilo Tons) and Value (US$ Mn), 2019 - 2030
10.3.1. Key Highlights
10.3.1.1. GCC
10.3.1.2. South Africa
10.3.1.3. Rest of Middle East & Africa
10.3.2. BPS Analysis/Market Attractiveness Analysis
11. Competitive Landscape
11.1. Company Market Share Analysis, 2021
11.2. Competitive Dashboard
11.3. Product vs Application Heatmap
11.4. Company Manufacturing Footprint Analysis
11.5. Company Profiles
11.5.1. BASF SE
11.5.1.1. Company Overview
11.5.1.2. Product Portfolio
11.5.1.3. Financial Overview
11.5.1.4. Business Strategies and Development
(*Note: Above details would be available for below list of companies based on availability)
11.5.2. TotalEnergies Corbion
11.5.3. Mitsubishi Chemical
11.5.4. Eastman
11.5.5. NatureWorks LLC
11.5.6. Covation Biomaterials
11.5.7. Avantium
11.5.8. Kaneka Corporation
11.5.9. Futamura
11.5.10. Jinhui Zhaolong High Tech.
11.5.11. Zhejiang Hisun Biomaterials
11.5.12. Bio Valore World SpA
11.5.13. ANKOR Bioplastics
11.5.14. Celanese Corporation
12. Appendix
12.1. Research Methodology
12.2. Report Assumptions
12.3. Acronyms and Abbreviations
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2022 |
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2018 - 2022 |
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2023 - 2030 |
Value: US$ Mn Volume: Kilo Tons |
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REPORT FEATURES |
DETAILS |
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Product Coverage |
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End-user Coverage |
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Geographical Coverage |
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Leading Companies |
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Report Highlights |
Market Estimates and Forecast, Market Dynamics, Industry Trends, Production Output, Trade Statistics, Prices Trend Analysis, Competition Landscape, Product -, End-user-, Region-, Country-wise Trends & Analysis, COVID-19 Impact Analysis (Demand and Supply), Key Market Trends |
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