Bioplastics & Biopolymers Market by Product Type (Biodegradable, Non-Biodegradable/ Bio-Based), End-Use Industry (Packaging, Consumer Goods, Textiles, Agriculture & Horticulture, AnT, Coatings & Adhesives), & Region- Global Forecast to 2029
The global market size for bioplastics and biopolymers stood at USD 15.3 billion in 2024 and is anticipated to reach USD 45.2 billion by 2029, reflecting a compound annual growth rate (CAGR) of 24.2% over the period. Bioplastics show significant potential for expansion owing to their reduced carbon footprint, minimized waste, enhanced compostability, and lower energy costs. Factors driving the demand for bioplastics and biopolymers include increased utilization in the packaging sector, heightened waste management regulations in Europe, supportive governmental policies, emphasis on bio-based content over biodegradability, and growing concerns for human health.
Attractive Opportunities in the Bioplastics & Biopolymers Market
Note: e-estimated p-projected.
Source: Expert Interviews, Secondary Sources, and MarketsandMarkets Analysis
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Bioplastics & Biopolymers Market Dynamics
Driver: Government focuses on green procurement policies & regulations
- The biodegradable plastics market is expected to grow during the forecast period. New technologies and ongoing R&D innovations with improving funding have enhanced the technical and functional properties of biodegradable plastics.
- The increasing regulations and prohibitions against plastic bags and other plastic items are driving the market for biodegradable plastics worldwide. Governments are encouraging the use of sustainable and eco-friendly products. In addition, manufacturers are increasingly striving toward developing sustainable solutions which have minimal environmental hazards. Environmental regulations are becoming more stringent, especially in European countries. For example, in Germany, the green dot system is used for traditional packaging, wherein companies must contribute to the cost of recycling packaging waste. The German government has exempted manufacturers from green dot system fees to increase the use of biodegradable plastics, which is expected to further fuel the demand for biodegradable plastics in the country. In addition to the legislation curbing the use of traditional plastics, governments worldwide are offering incentives such as tax exemptions and certifications to companies that produce and promote green materials.
- In North America, programs and initiatives such as "Green Technologies" and "BioPreferred" promote biodegradable plastics. Moreover, the developing economies in the Asia Pacific region are also implementing new regulations to encourage the use of biodegradable plastics.
- Recently, stringent legislation has become more frequent, especially in European countries, with significantly high environmental awareness. Thus, governments are also offering incentives to companies that produce and promote green materials. Some incentives include tax exemptions and certifications; branding activities also play a major role in banning single-use plastic products and bags. This, in turn, is expected to boost the demand for biodegradable plastics.
Restraint: Higher prices of biodegradable plastics than that of its alternatives
The market's growth in many application segments is hampered by the higher cost of biodegradable plastics compared to traditional polymers. Typically, the production cost of biodegradable plastics is 20-80% higher than that of conventional plastics. This disparity primarily stems from the elevated polymerization expenses of biodegradable plastics, as most processes are still in the developmental phase and haven't achieved economies of scale.
For instance, PHAs, which find applications in binders, synthetic papers, medical devices, electronic parts, food packaging, and agriculture, incur high production costs, low yields, and limited availability. Although PLAs have a lower production cost than PHAs, they remain more expensive than petroleum-based PE and PP. Overall, bio-based materials are still in the developmental stage and haven't been commercialized to the same extent as their petrochemical counterparts.
The cost of biodegradable plastics varies from USD 2/kg to USD 6/kg, in contrast to traditional plastics, which range from approximately USD 1/kg to USD 2/kg. Higher R&D and production costs due to small-scale production, along with significant price differences compared to traditional petroleum-based plastics, are key factors contributing to the limited penetration of biodegradable plastics in various industries.
Opportunity: High potential in emerging economies
Bioplastics and biopolymers market players are actively employing both organic and inorganic strategies to fuel their growth. Recent years have witnessed significant strategic developments in the emerging markets of Asia-Pacific. For example, in 2019, Total-Corbion established a PLA plant in Rayong, Thailand, with an annual production capacity of 75,000 tons. Similarly, Mitsubishi Chemical Holding Corporation (Japan) and Lenovo Group Limited (China) formed a joint venture to produce bioplastic-based smartphone components. Additionally, Indonesia is exploring bioplastic alternatives, such as seaweed. Local player Evoware offers patented seaweed-based packaging, anticipating an increase in environmental regulations that will drive demand for bioplastics in Asia-Pacific countries. Furthermore, Southeast Asia benefits from abundant bio-based feedstock, ensuring a sustainable supply of raw materials for bioplastic production. Consequently, regulatory developments and the availability of feedstock are poised to sustain the demand for bioplastics in the region in the forecast period.
Challenge: Fluctuating oil prices create volatility in demand for biodegradable plastics
Bioplastics typically come at a higher cost compared to conventional plastics, but their pricing is influenced by oil price fluctuations, posing a long-term challenge. Yet, temporary spikes in oil prices elevate conventional plastic costs, making bioplastics an appealing alternative due to their competitive pricing and sustainability advantages. This short-term trend acts as a driver in the bioplastics and biopolymers market. However, a potential drop in oil prices due to demand-supply dynamics could lower conventional plastic prices, impacting bioplastics demand. Additionally, the pricing of bio-based plastics hinges on stable biomass prices, while bioplastic prices can only decrease through economy of scale production and favorable conversion and logistics processes. Thus, while temporary plastic price increases favor bioplastics in the short term, challenges persist regarding economies of scale and technological advancement.
Bioplastics & Biopolymers Market Ecosystem
Starch based bioplastics to hold significant potential in the bioplastics & biopolymers market.
Starch-based bioplastics show significant potential in the bioplastics and biopolymers market. Typically incorporated into conventional plastics, starch enhances biodegradability without compromising thermal stability or melt flow properties. Starch blends serve as excellent biodegradable fillers, reducing costs and accelerating composite material biodegradation. Blends with low starch content (25%-40%) enhance ductility and flexibility, making them ideal for extrusion applications. Conversely, high-starch content (50% and above) promotes brittleness, resulting in slightly lower tensile strength compared to conventional polypropylene, suitable for injection molding applications..
Corn starch to be third largest segment in raw material in bioplastics & biopolymers market.
Corn starch, derived from corn grain, serves as a crucial raw material for producing polylactic acid (PLA), making it a cornerstone in the bioplastics and biopolymers market. With its cost-effectiveness and widespread availability, corn grain is the primary source for com-starch, offering a sustainable alternative to petroleum-based plastics. Com-starch bioplastics, predominantly made from PLA, are widely utilized in various applications such as biodegradable packaging, food containers, and medical devices like implants and surgical tools. NatureWorks LLC, a prominent manufacturer, has introduced the Ingeo bioplastics series, derived from corn starch, catering to high-value applications in both rigid and flexible packaging manufacturing.
Agriculture & Horticulture end-use industry to register highest CAGR during the forecast period.
Biopolymers, with their distinct benefits like biodegradability and high biobased content, are increasingly preferred in agriculture. Farmers utilize PBAT and PBS mulch films to enhance crop productivity and soil quality, employing these polymers throughout the agricultural cycle from cultivation to processing. These versatile biopolymers, including starch-based plastics, PBAT, and PBS, find applications in various agricultural products such as mulch films, seeding strips, tape-planters, planting pots, and covering films. Incorporating mulch films into the soil enhances the biodegradability and water solubility of bioplastics, leading to a surge in demand for bioplastics in agriculture.
Asia Pacific to register highest CAGR during the forecast period.
Government regulations in the Asia-Pacific region aimed at banning plastic bags and promoting initiatives to combat global warming are facilitating market growth. However, the higher prices of bioplastics and biopolymers compared to conventional petroleum-based resins are acting as a significant barrier to market expansion in the region. Nevertheless, the lower living standards and disposable income in Asia-Pacific are expected to lead to a reduction in the prices of bioplastics and biopolymers.
Additionally, the increasing regulations in the plastics industry and the focus on sustainable development present opportunities for replacing plastics with bioplastics in the Asia-Pacific region. Growing consumer awareness of sustainable plastics and pressure from retailers are contributing to the rising demand for bioplastics.
This report segments Asia-Pacific into China, India, Japan, South Korea, Thailand, and the Rest of Asia-Pacific. The majority of bio-based polymer production in the region is concentrated in China and Japan.
Source: Secondary Research, Primary Interviews, and MarketsandMarkets Analysis
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Key Market Players
Major players operating in the bioplastics & biopolymers market includes NatureWorks LLC (US), Braskem (Brazil), BASF SE (Germany), TotalEnergies Corbion (Netherlands), Versalis S.P.A (Italy), Biome Bioplastics Limited (UK), Mitsubishi Chemical Group Corporation (Japan), Biotec Biologische Naturverpackungen GmbH & Co. (Germany), Plantic Technologies Limited (Australia), and Toray Industries, Inc. (Japan).
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|
Report Metric |
Details |
|
Years considered for the study |
2019–2029 |
|
Base year |
2023 |
|
Forecast period |
2024–2029 |
|
Units considered |
Value (USD Million/USD Billion), Volume (Kiloton) |
|
Segments |
By product type, By raw material, By end use, and By Region |
|
Regions |
North America, Asia Pacific, Europe, South America, and MEA |
|
Companies |
NatureWorks LLC (US), Braskem (Brazil), BASF SE (Germany), TotalEnergies Corbion (Netherlands), Versalis S.P.A (Italy), Biome Bioplastics Limited (UK), Mitsubishi Chemical Group Corporation (Japan), Biotec Biologische Naturverpackungen GmbH & Co. (Germany), Plantic Technologies Limited (Australia), and Toray Industries, Inc. (Japan). Total 25 major players covered |
This research report categorizes the Bioplastics & Biopolymers market is segmented by product type, by raw material type, by end use, and by region.
Based on product type:
-
Biodegradable
- PLA
- PBAT
- PHA
- PBS
- Starch based
- Cellulose Films
- Others Biodegradable
-
Non-Biodegradable
- Bio-PE
- Bio-PP
- Bio-PET
- Bio-PA
- PTT
- PEF
- Others Non-Biodegradable
Based on raw material type:
- Sugar cane/ Sugar beet
- Potato
- Corn starch
- Wheat
- Switchgrass
- Cassava
- Others
Based on the end-use industry:
-
Packaging
- Flexible Packaging
- Rigid Packaging
- Textiles
- Automotive & Transport
- Electronics & Electricals
- Coatings & Adhesives
- Agriculture & Horticulture
- Building & Construction
- Others
Based on the region:
- North America
- Europe
- Asia Pacific
- South America
- MEA
Recent Developments
- In November 2022, Total Energies Corbion unveiled a long-term collaboration with BGF, focusing on application development and the supply of Luminy PLA.
- Braskem announced in October 2022 its plans to expand its I'm greenTM biopolymer production capacity by 30%, investing USD 60 million in the project. This expansion, in partnership with SOG chemicals, aims to double the current capacity for I'm greenTM products.
- In January 2025, MarketsandMarkets released a global forecast for the bioplastics and biopolymers market.
- In June 2021, BASF introduced COSMOS-approved texturizing biopolymer Hydagen, derived from the tuber of the konjac plant. This rheology modifier is suitable for various aqueous systems and novel formulations such as patches and jellies.
- In June 2022, Confoil, an Australian food packaging manufacturer, collaborated with BASF to develop certified compostable dual-ovenable paper trays coated with BASF's biopolymer Ecovio PS-1606.
- In September 2021, Braskem partnered with Gelmart International to supply I'm-green-EVA biopolymer for the production of the world's first bra cup..
Frequently Asked Questions (FAQ):
What is the current size of the global bioplastics & biopolymers market?
The global market size of bioplastics & biopolymers was USD 15.3 billion in 2024 and is projected to reach USD 45.2 billion by 2029, at a CAGR of 24.2%, between 2024 and 2029.
What are the factors influencing the growth of bioplastics & biopolymers market?
The growth of this market can be attributed to growth of packaging industry.
What is the biggest restraint for bioplastics & biopolymers?
Volatility of prices of raw material the major restraining factor for the growth of the market.
Who are the major manufacturers?
Major manufacturers include includes NatureWorks LLC (US), Braskem (Brazil), BASF SE (Germany), TotalEnergies Corbion (Netherlands), Novamont S.P.A (Italy), Biome Bioplastics Limited (UK).
What will be the growth prospects of the bioplastics & biopolymers market?
Development of bioplastics to cater newer applications such as biomedicals. Biodegradable plastics such as PLA and bio-PBS are used for manufacturing medical devices & equipment. .
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The study involved four major activities to estimate the current market size of Bioplastics & Biopolymers market. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of segments and sub-segments.
Secondary Research
In the secondary research process, various secondary sources such as Factiva, Zauba, Hoovers, and Bloomberg BusinessWeek were referred to for identifying and collecting information for this study. These secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, regulations from agencies such as European Bioplastics, Biodegradable Plastics Associations, and others.
Primary Research
Extensive primary research has been conducted after acquiring an understanding of the Bioplastics & Biopolymers market scenario through secondary research. Several primary interviews have been conducted with market experts from both the demand- (Bioplastics & Biopolymers manufacturers) and supply-side (end-product manufacturers, buyers, and distributors) players across four major regions, namely, North America, Europe, Asia Pacific, South America, and MEA. Approximately 70% and 30% of primary interviews have been conducted from the demand and supply side, respectively. Primary data has been collected through questionnaires, emails, and telephonic interviews. In the canvassing of primaries, various departments within organizations, such as sales, operations, and administration, were covered to provide a holistic viewpoint in our report. After interacting with industry experts, brief sessions were conducted with experienced independent consultants to reinforce the findings from our primaries. This, along with the in-house subject matter experts’ opinions, has led us to the findings as described in the remainder of this report.
Following is the breakdown of primary respondents:
Notes: Companies are classified based on their revenue–Tier 1 = >USD 1 billion, Tier 2 = USD 500 million– USD 1 billion, and Tier 3 = < USD 500 million.
Other designations include sales representatives, production heads, and technicians.
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
Both the top-down and bottom-up approaches were used to estimate and validate the total size of Bioplastics & Biopolymers market. These methods were also used extensively to estimate the size of various sub-segments in the market. The research methodology used to estimate the market size included the following:
- The key players in the industry and markets were identified through extensive secondary research.
- The industry’s supply chain and market size, in terms of value, were determined through primary and secondary research processes.
- All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.
Global Bioplastics & Biopolymers Market Size: Bottom-Up Approach
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Data Triangulation
After arriving at the overall market size using the market size estimation processes as explained above, the market was split into several segments and sub-segments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides.
Market Definition
Bioplastics and biopolymers refer to a category of materials derived from renewable biological sources, such as plants, algae, or microorganisms, as opposed to traditional plastics, which are derived from petroleum-based sources. These materials are designed to offer similar functionalities and properties to conventional plastics while being environmentally sustainable and biodegradable or compostable under appropriate conditions. Bioplastics and biopolymers play a crucial role in reducing reliance on fossil fuels, mitigating environmental pollution, and promoting circular economy practices by offering alternatives that are derived from renewable resources and have the potential to degrade naturally after use.
Report Objectives
- To analyze and forecast the Bioplastics & Biopolymers market size, terms of value, and volume.
- To provide detailed information about the key factors (drivers, restraints, opportunities, and challenges) influencing the growth of the market
- To define, describe, and forecast the market by product type, raw material type, by end use, and by region.
- To forecast the size of the market with respect to five regions, namely, Asia Pacific, Europe, North America, South America, and MEA, along with their countries
- To strategically analyze micro markets with respect to individual growth trends, future prospects, and their contribution to the overall market
- To analyze the opportunities in the market for stakeholders and provide a competitive landscape for the market leaders
- To analyze competitive developments such as new product launch, merger & acquisition, and investment & expansion in the market
- To strategically profile the key players and comprehensively analyze their revenue and core competencies.
Available Customizations
MarketsandMarkets offers customizations according to the specific needs of the companies with the given market data.
The following customization options are available for the Bioplastics & Biopolymers market report:
Product Analysis
- Product matrix, which provides a detailed comparison of the product portfolio of each company
Regional Analysis
- A further breakdown of the Bioplastics & Biopolymers market, by segments
Company Information
- Detailed analysis and profiling of additional market players (up to five)
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Growth opportunities and latent adjacency in Bioplastics & Biopolymers Market
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