Bioplastics & Biopolymers Market

Bioplastics & Biopolymers Market by Type (Non-Biodegradable/Bio-Based, Biodegradable), End-Use Industry (Packaging, Consumer Goods, Automotive & Transportation, Textile, Agriculture, Others), and Region - Global Forecast to 2026

Report Code: CH 2325 Nov, 2022, by marketsandmarkets.com

[244 Pages Report] The global bioplastics & biopolymers market size is projected to grow from USD 10.7 billion in 2021 to USD 29.7 billion by 2026, at a CAGR of 22.7% between 2021 and 2026. Increasing demand for bioplastics & biopolymers from various end-use segments, stringent regulatory & sustainability mandates, and growing concerns for the environment is driving the market for bioplastics & biopolymers.

Bioplastics & Biopolymers Market

To know about the assumptions considered for the study, Request for Free Sample Report

COVID-19 impact on global bioplastics & biopolymers market

Bioplastics & biopolymers are used in various industries, such as packaging, consumer goods, automotive & transportation, textiles and agriculture & horticulture. However, due to the ongoing pandemic, the industries had been affected throughout the world. Manpower shortage, logistical restrictions, material unavailability, and other restrictions had slowed the growth of the industry during the previous year. Due to the outbreak of the Covid-19 pandemic and its gradual spread, industries of essential needs, like getting foods and required supplies safely to the consumers are increasingly affected. The global impact has led to sharp reduction in demand for some types of packaging which are condemned as non-essential. On the other hand the demand for essential packaging such as e-commerce shipment has seen massive growth. These changes are presenting the packaging companies with new set of challenges.  The affect of Covid-19 pandemic on the packaging industry will be mixed due to these reasons. The Covid-19 pandemic has affected the normal functioning of companies in the consumer goods sector. The successful marketing model has been impacted by the pandemic, which has furthered the proper functioning of business model. Due to the supply chain disruptions around the globe, 76% of the businesses had to reduce revenue targets by an average of 23%, as per Institute for Supply Management Research. The sector has mixed market feelings as some sectors such as household cleaning and frozen foods have seen increase in consumer demands whereas others have seen drop in sales and significant decrease in food traffic in retail stores. The companies had to become flexible with the change in consumer demand towards e-commerce. This as forced the entire consumer goods industry into digital age.

The automotive industry suffered largely due to the Covid-19 impact in 2020. However, the market has since rebounded during the previous months to show year-on-year growth in China, Europe and the US. However, in the long run, without the proper solution the demand is to remain moderate during the coming years. The industry also saw supply chain disruption in Chinese parts export, large scale manufacturing disruptions and closing of assembly plants

Bioplastics & Biopolymers Market Dynamics

Driver: Shift in consumer preference toward eco-friendly plastic products

Consumer awareness regarding sustainable plastic solutions and pervasive efforts to eliminate the use of non-biodegradable conventional plastics are contributing to the market growth of bioplastics. Traditional plastics, which are generally petroleum-based, take decades to break down or degrade and lay in the landfills for a long period. Biodegradable plastics break down faster when they are discarded and are absorbed back into the natural system. In addition, the rate of decomposition of biodegradable plastics by the activities of microorganisms is much faster than that of traditional plastics.

Biodegradable plastics break down 60% and more within 180 days or less as compared with traditional plastics, which take around 1,000 years to break down. Increasing landfills and waste piles have emerged as serious environmental hazards and resulted in numerous adverse effects on flora and fauna of the ecosystem.

The growing consumer awareness regarding these adverse effects (arising from the use of traditional plastics) is encouraging the use of biodegradable plastics. Moreover, the use of conventional polymers may pose a threat to human health and safety due to their toxic content. For example, PVC may cause genetic disorders, ulcers, deafness, and vision failure. The table below lists the risks associated with the use of conventional polymers/plastics. Such high risks increase the demand for products that are safe for human health. Therefore, increasing consumer awareness, along with governmental legislation, is driving the use of bio-based products such as biodegradable plastics and bio-based plastics.

Restraint: Higher prices of bioplastics than conventional plastics

The higher cost of bioplastics than that of traditional polymers restrains the growth of the market in many application segments. In many cases, the cost of production of bio-based polymers is 20% to 100% higher than that of conventional polymers. This is primarily due to the high polymerization cost of bio-based polymers as most of the processes are still in the developmental stage and hence have not achieved economies of scale. For example, PHAs, which have a variety of applications in binders, synthetic papers, medical devices, electronic parts, food packaging, and agriculture, have high production costs, low yields, and limited availability. PLAs, which have a much lower cost of production compared to PHAs, are still more expensive than petroleum-based PE and PP. In general, the bio-based materials are still at the development stage and have not been commercialized to the same level as their petrochemical counterparts, which have been developing rapidly for more than 50 years.

Currently, the cost of biodegradable plastics varies from USD 2/kg to USD 6/kg as compared with that of traditional plastics, which is approximately, USD 1/kg to USD 2/kg. Higher R&D and production costs due to small-scale production and the significant price difference in comparison to traditional petroleum-based plastics are the key factors, which contribute to the low penetration of bioplastics in various industries.

Opportunity: High potential in emerging countries of APAC

The bioplastics & biopolymers market players are continuously implementing organic and inorganic strategies for their growth. In recent years, the players have made many strategic developments in the emerging countries of APAC. For instance, in 2019, Total Corbion set up a PLA Plant in Rayong, Thailand, with a production capacity of 75,000 tons per year. In the same year, Mitsubishi Chemical Holding Corporation (Japan) and Lenovo Group Limited (China) entered into a joint venture to produce a bioplastic-based body (3D shape rear panel) for smartphones. In addition, Indonesia is exploring bioplastic alternatives, such as seaweed. Evoware, a local player, provides patented seaweed-based packaging. The company is producing containers made from seaweed. The regulations related to the environment are expected to increase, which would eventually propel the demand for bioplastics in these countries in the future. Moreover, Southeast Asia is rich in bio-based feedstock required to produce bioplastic as it has local access to sustainable raw materials. Thus, regulations, coupled with the easy availability of feedstock, will, in turn, help sustain the demand for bioplastics during the forecast period.

Challenge:  Limited regulations related to bioplastics in developing countries

The choice of a product over its alternative is influenced by the existing regulations in the market. The preference for bioplastics over conventional plastics can be increased by the stringent regulations related to waste management and regulations in the plastics industry. Bioplastics can compete with conventional plastics only if they meet the requirements related to the cost, functionalities, supply, and recyclability. However, the regulations in developing countries are limited.

In some parts of developing and under-developed regions such as Africa, Latin America, and APAC, ignorance and negligence have led to a lack of awareness about the importance of sustainability and recycling of packaging products. Consumers do not realize the severity of the problems caused due to wastes unless they are directly affected by them. However, with a boom in digital and social media all over the world, awareness about sustainability is expected to increase in these regions. Despite all the initiatives by governments, there are a substantial number of people who do not contribute and believe in recycling and reusing of packaging materials. Hence, stringent regulations related to packaging and waste management are required in these countries, or else this would continue to challenge the growth of the bioplastics and biopolymers market, globally.

In terms of value, the packaging is projected to account for the largest share of the bioplastics & biopolymers market, by end-use industry, during the forecast period.

Packaging is the largest end-use industry for the application of bioplastics & biopolymers. They accounted for the share of  61.6%, in 2020, for the global bioplastics & biopolymers market. Increasing environmental regulations and changes in the lifestyle of consumers have increased the demand for bioplastics & biopolymers in the packaging industry. Plastics have high durability and impermeability to water, which has encouraged their use in packaging. Packaging applications of bioplastics & biopolymers include food packaging, healthcare packaging, cosmetic & personal care packaging, shopping bags, and others.

Focus of governments on green procurement policies and regulations to increase the demand for bioplastics & biopolymers.

The growing need to reduce the dependency on conventional fossil fuels is propelling the demand for bio-based products. This is also supported by the new policies and regulations implemented and adopted by the government bodies globally. These regulations include banning or implementing additional surcharges on the use of conventional plastics in applications, such as shopping bags, packaging materials, and disposables. These increasing regulations and prohibitions against plastic bags and other plastic items are driving the market for bioplastics, especially biodegradable plastics, worldwide.

APAC is expected to account for the fastest-growing market during the forecast period.

Based on region, the bioplastics & biopolymers market has been segmented into APAC, Europe, North America, RoW. APAC is the fastest-growing bioplastics & biopolymer market owing to the increasing consumer preferences towards eco-friendly plastic products with the rapidly growing population of the region. Increasing consumer purchasing power has propelled the growth of various end use industries in this region. These factors are expected to lead to increasing demand for bioplastics & biopolymers in the region during the forecast period.

Bioplastics & Biopolymers Market by Region

To know about the assumptions considered for the study, download the pdf brochure

Key Market Players

Major players operating in the global bioplastics & biopolymers market include NatureWorks (US), Braskem (Brazil), BASF (Germany), Total Corbion (Netherlands), Novamont (Italy), Biome Bioplastics (UK), Mitsubishi Chemical Holding Corporation (Japan), Biotec (Germany), Toray Industries (Japan), and Plantic Technologies (Australia).

Get online access to the report on the World's First Market Intelligence Cloud

  • Easy to Download Historical Data & Forecast Numbers
  • Company Analysis Dashboard for high growth potential opportunities
  • Research Analyst Access for customization & queries
  • Competitor Analysis with Interactive dashboard
  • Latest News, Updates & Trend analysis
Request Sample

Scope of the Report

Report Metric

Details

Years considered for the study

2017–2026

Base year

2020

Forecast period

2021–2026

Units considered

Value (USD Million), Kiloton(KT)

Segments

Type, End-use Industry, Region

Regions

North America, Europe, APAC and RoW

Companies

NatureWorks (US), Braskem (Brazil), BASF (Germany), Total Corbion (Netherlands), Novamont (Italy), Biome Bioplastics (UK), Mitsubishi Chemical Holding Corporation (Japan), Biotec (Germany), Toray Industries (Japan), and Plantic Technologies (Australia).

This research report categorizes the Bioplastics & Biopolymers market based on type, end-use industry, and region.

Based on the type:

  • Biodegradable
    • PLA
    • Starch Blends
    • PHA
    • PBS
    • Others
    • PCL
    • PBAT
  • Non-Biodegradable/Biobased
    • BIO-PET
    • BIO-PABIO-PE
    • BIO-PTT
    • Others
    • BIO-PP
    • BIO-PEF

Based on the end-use industry:

  • Packaging
  • Consumer Goods
    • Electrical Appliances
    • Domestic Appliances
    • Others
  • Automotive & Transportation
    • Interior
    • Exterior
    • Under Hood
  • Textiles
    • Medical & Healthcare Textile
    • Personal care, clothes and other textiles
  • Agriculture & Horticulture
    • Tapes & Mulch Films
    • Others
  • Others

Based on the region:

  • APAC
  • Europe
  • North America
  • Rest of World (RoW)

Recent Developments

  • In April 2021, NatureWorks announced a new strategic partnership with IMA Coffee, which is a market leader in coffee handling processing and packaging. This partnership aims at increasing the market reach for high-performing compostable K-cup in North America.
  • In August 2019, Braskem and Ledesma (Argentina), manufacturer of natural agroindustrial products, have collaborated to deliver Ledesma + Bio, which is a line of 100% sustainable notebooks made entirely of sugarcane. Such initiatives are expected to cater to the needs of the bioplastics & biopolymers market.

Frequently Asked Questions (FAQ):

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

TABLE OF CONTENTS

1 INTRODUCTION
    1.1 OBJECTIVES OF THE STUDY
    1.2 MARKET DEFINITION
    1.3 SCOPE OF THE STUDY
    1.4 CURRENCY
    1.5 PACKAGE SIZE
    1.6 STAKEHOLDERS
    1.7 SUMMARY OF CHANGES
    1.8 INCLUSIONS & EXCLUSIONS 

2 RESEARCH METHODOLOGY
    2.1 RESEARCH DATA
           2.1.1 SECONDARY DATA
                    2.1.1.1 Key data from secondary sources
           2.1.2 PRIMARY DATA
                    2.1.2.1 Key data from primary sources
                    2.1.2.2 Breakdown of primary interviews
    2.2 MARKET SIZE ESTIMATION
           2.2.1 BOTTOM-UP APPROACH
           2.2.2 TOP-DOWN APPROACH
    2.3 DATA TRIANGULATION
    2.4 MARKET SIZE ESTIMATION
    2.5 FORECAST ESTIMATION
    2.6 RESEARCH ASSUMPTIONS
    2.7 LIMITATIONS

3 EXECUTIVE SUMMARY

4 PREMIUM INSIGHTS
    4.1 BIOPLASTICS & BIOPOLYMERS MARKET, BY TYPE
    4.2 BIOPLASTICS & BIOPOLYMERS MARKET, BY END-USE INDUSTRY
    4.3 BIOPLASTICS & BIOPOLYMERS MARKET GROWTH RATE, BY COUNTRY

5 MARKET OVERVIEW
    5.1 INTRODUCTION
    5.2 MARKET SEGMENTATIONS
    5.3 MARKET DYNAMICS
           5.3.1 DRIVERS
           5.3.2 RESTRAINTS
           5.3.3 OPPORTUNITIES
           5.3.4 CHALLENGES

6 INDUSTRY TRENDS
    6.1 INTRODUCTION
    6.2 VALUE CHAIN ANALYSIS
           6.2.1 RAW MATERIAL
           6.2.2 EQUIPMENT MANUFACTURERS
           6.2.3 DISTRIBUTORS
           6.2.4 END-USERS
    6.3 PORTER’S FIVE FORCES ANALYSIS
           6.3.1 THREAT OF SUBSTITUTES
           6.3.2 BARGAINING POWER OF BUYERS
           6.3.3 THREAT OF NEW ENTRANTS
           6.3.4 BARGAINING POWER OF SUPPLIERS
           6.3.5 INTENSITY OF COMPETITIVE RIVALRY
    6.4 PATENT ANALYSIS
    6.5 PRICING ANALYSIS
           6.5.1 AVERAGE SELLING PRICES OF TYPES
           6.5.2 AVERAGE SELLING PRICES OF REGIONS
           6.5.3 AVERAGE SELLING PRICES OF KEY PLAYERS
    6.6 ECOSYSTEM/ MARKET MAPPING
    6.7 TECHNOLOGY ANALYSIS
    6.8 KEY CONFERENCES AND EVENTS
    6.9 TARRIF AND REGULATORY LANDSCAPE
           6.9.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
    6.10 KEY STAKEHOLDERS AND BUYING CRITERIA
    6.11 ECONOMIC RECCESSION ASSESMENT

7 BIOPLASTICS & BIOPOLYMERS MARKET, BY TYPE
    7.1 INTRODUCTION
    7.2 BIODEGRADABLE BIOPLASTICS & BIOPOLYMERS
           7.2.1 PLA
           7.2.2 STARCH BLENDS
           7.2.3 PBAT
           7.2.4 PHA
           7.2.5 PBS
           7.2.6 OTHERS
    7.3 NON-BIODEGRADABLE/BIO-BASED BIOPLASTICS & BIOPOLYMERS
           7.3.1 BIO-PE
           7.3.2 BIO-PA
           7.3.3 BIO-PET
           7.3.4 BIO-PTT
           7.3.5 OTHERS

8 BIOPLASTICS & BIOPOLYMERS MARKET, BY END-USE INDUSTRY
    8.1 INTRODUCTION
    8.2 PACKAGING
           8.2.1 FLEXIBLE PACKAGING
           8.2.2 RIGID PACKAGING
    8.3 CONSUMER GOODS
           8.3.1 ELECTRICAL APPLIANCES
           8.3.2 CONSUMER GOODS
           8.3.3 OTHERS
    8.4 AUTOMOTIVE & TRANSPORTATION
    84.1 INTERIOR COMPONENTS
           8.4.2 EXTERIOR COMPONENTS
           8.4.3 UNDER HOOD
    8.5 TEXTILE
           8.5.1 MEDICAL AND HEALTHCARE TEXTILE
           8.5.2 PERSONAL CARE CLOTHES
           8.5.3 OTHERS
    8.6 AGRICULTURE
           8.6.1 TAPES AND MULCH FILMS
           8.6.2 OTHERS
    8.7 OTHERS

9 BIOPLASTICS & BIOPOLYMERS MARKET, BY REGION
    9.1 INTRODUCTION
    9.2 ASIA-PACIFIC
           9.2.1 CHINA
           9.2.2 JAPAN
           9.2.3 INDIA
           9.2.4 SOUTH KOREA
           9.2.5 AUSTRALIA
           9.2.6 REST OF APAC
    9.3 NORTH AMERICA
           9.3.1 U.S
           9.3.2 CANADA
           9.3.3 MEXICO
    9.4 EUROPE
           9.4.1 GERMANY
           9.4.2 U.K
           9.4.3 FRANCE
           9.4.4 SPAIN
           9.4.5 ITALY
           9.4.6 REST OF EUROPE
    9.5 MIDDLE-EAST & AFRICA
           9.5.1 SAUDI ARABIA
           9.5.2 SOUTH AFRICA
           9.5.3 UAE
           9.5.4 REST OF MEA
    9.6 SOUTH AMERICA
           9.6.1 BRAZIL
           9.6.2 ARGENTINA
           9.6.3 REST OF SOUTH AMERICA

10 COMPETITIVE LANDSCAPES
     10.1 OVERVIEW
             10.1.1 KEY PLAYER STRATEGIES/ RIGHT TO WIN
             10.1.2 OVERVIEW OF STRATEGIES DEPLOYED
     10.2 MARKET EVALUATION FRAMEWORK
     10.3 COMPANY REVENUE ANALYSIS
     10.4 MARKET SHARE/RANKING OF KEY PLAYERS
     10.5 COMPETITIVE SITUATION AND TRENDS
             10.5.1 NEW LAUNCHES
             10.5.2 DEALS
             10.5.3 JVS/ TECHNLOLOGIAL COLLABORATIONS

11 COMPANY PROFILES
((Business Overview, Financials*, Products Offered, Scorecard of Product Offering, Scorecard of Business Strategy, and Recent Developments)
     11.1 NATUREWORKS LLC
             11.1.1 Business overview
             11.1.2 Products offered
             11.1.3 Recent Developments
             11.1.4 MnM view
                        11.1.4.1 Key strengths/right to win
                        11.1.4.2 Strategic choices made
                        11.1.4.3 Weaknesses and competitive threats
     11.2 BRASKEM
     11.3 BASF
     11.4 TOTAL CORBION
     11.5 NOVAMONT
     11.6 BIOME BIOPLASTICS
     11.7 MITSUBISHI CHEMICAL CORPORATION
     11.8 BIOTEC
     11.9 TORAY INDUSTRIES
     11.10 PLANTIC TECHNOLOGIES
     11.11 OTHER COMPANIES
             11.11.1 ARKEMA
             11.11.2 AKRO- PLASTIC
             11.11.3 AGRANA
             11.11.4 CARBIOLICE
             11.11.5 CARDIA BIOPLASTICS
             11.11.6 FUTERRO
             11.11.7 FKUR KUNSTSTOFF
             11.11.8 GREEN DOT BIOPLASTICS
             11.11.9 INGEVITY
             11.11.10 PTT MCC BIOCHEM

* Details might not be captured in case of unlisted companies/ private companies

The study involved four major activities in estimating the current size of the 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. After that, the market breakdown and data triangulation methods were used to estimate the size of the segments and subsegments of the overall market.

Secondary Research

This research report involves extensive secondary sources, directories, and databases, such as Bloomberg, BusinessWeek, Factiva, ICIS, and OneSource, to identify and collect information useful for the technical, market-oriented, and commercial study of the bioplastics & biopolymers market. The secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications.

Primary Research

The Bioplastics & Biopolymers market comprises several stakeholders, such as raw material suppliers, processors, end-product manufacturers, buyers, and regulatory organizations. The demand side of this market is characterized by developing the end-use industry, such as food & beverage, textiles and industrial. The supply side included industry experts, such as CEOs, vice presidents, marketing directors, technology and innovation directors, and related key executives from various companies and organizations operating in the market. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information.

Following is the breakdown of primary respondents:

 

Bioplastics & Biopolymers Market Size, and Share

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 the Bioplastics & Biopolymers market. These methods were also used extensively to estimate the sizes of various subsegments in the market. The research methodology used to estimate the market size includes the following steps:

  • 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.
  • All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall market size—using the estimation processes explained above—the Bioplastics & Biopolymers market was split into several segments. The data triangulation and market breakdown procedures were employed, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics of each market segment. The data was triangulated by studying various factors and trends from both the demand and supply sides.

Report Objectives

  • To analyze and forecast the bioplastics & biopolymers market size, in terms of value and volume
  • To provide detailed information about the key factors (drivers, restraints, opportunities, and challenges) influencing the market growth
  • To define, describe, and forecast the market based on type and end-use industry
  • To forecast the market size of different segments based on regions: Asia Pacific (APAC), Europe, North America and Rest of World (RoW), with their key countries.
  • To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and contribution to the total market
  • To analyze the opportunities in the market for stakeholders and provide details of a competitive landscape of market leaders
  • To analyze competitive developments:  investment & expansion, new product development, and merger & acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their core competencies2

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 ten)
Report Code
CH 2325
Published ON
Nov, 2022
Choose License Type
BUY NOW
  • SHARE
X
Request Customization
Speak to Analyst
Speak to Analyst
OR FACE-TO-FACE MEETING
PERSONALIZE THIS RESEARCH
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
REQUEST A FREE CUSTOMIZATION
LET US HELP YOU!
  • What are the Known and Unknown Adjacencies Impacting the Bioplastics & Biopolymers Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
CUSTOMIZED WORKSHOP REQUEST
+1-888-600-6441
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
CONNECT WITH US
ABOUT TRUST ONLINE
©2022 MarketsandMarkets Research Private Ltd. All rights reserved
DMCA.com Protection Status Website Feedback