Bioplastics & Biopolymers Market by Type (Biodegradable, Non-Biodegradable/ Bio-Based), End-Use Industry (Packaging, Consumer Goods, Textiles, Agriculture & Horticulture, Automotive & Transport, Coatings & Adhesives), & Region - Global Forecast to 2027
Bioplastics & Biopolymers Market
The global bioplastics market & biopolymers market size was USD 11.5 billion in 2022 and is projected to reach USD 27.3 billion by 2027, at a CAGR of 18.9%, during the same period. Bioplastics possess a high potential for growth due to a lower carbon footprint, reduced waste, improved compostability, and decreased energy costs. The rising use of bioplastics in the packaging industry, increase in waste management regulations in Europe, favorable government policies, focus on bio-based content rather than biodegradability, and rising concern for human health are driving the demand for bioplastics & biopolymers.
To know about the assumptions considered for the study on bioplastics market & biopolymers market, Request for Free Sample Report
Recession impact
Economic growth that was expected after the pandemic slowly faded away. The entire global economy is suffering from slow growth and high inflation. Two years after the global pandemic, economies face new challenges as economic growth has slowed down sharply due to inflation. Economies all over the world are contracting; their economic forecast is shrinking, especially in developed countries such as the US, Canada, the UK, European Union countries, China, Japan, South Korea, and Australia. The world’s three largest economies, namely, the US, European Union, and China, were headed toward an economic downturn in 2022. Also, the supply chain constraints and higher oil and food prices due to the Russian-Ukraine crises have made things more difficult.
Bioplastics Market & Biopolymers Market Dynamics
Driver: Shift in consumer preference toward bio-based plastics
As awareness of sustainable plastic solutions and efforts to eliminate the use of non-biodegradable conventional plastics grows, the bioplastics market is growing too. Traditional plastics, which are typically based on petroleum, take decades to break down or degrade and can end up in landfills for a long time. Biodegradable plastics break down faster when they are discarded and can be absorbed back into the natural system, while the rate of decomposition of biodegradable plastics by the activities of microorganisms is much faster than that of traditional plastics. This growing consumer awareness is encouraging more people to switch to bioplastics and biopolymers.
Restraint: Performance issue of bioplastics
The durability and performance characteristics of bioplastics & biopolymers restrict their penetration in various applications, including packaging, electronics, agriculture, and automotive. The functional attributes of bio-based polymers compared to conventional petroleum-based polymers include properties such as a low barrier to air, water, oxygen, and low resistance to heat, limiting the application of bio-based polymers in the packaging of food, pharmaceuticals, personal care products, and electronics. The poor mechanical properties and process capabilities have been restricting bio-based polymers' growth, therefore inhibiting their usage in applications such as agriculture, automotive, and others, compared to conventional petroleum-based plastics. For instance, the density of bioplastics is between 1.2 and 1.3 g/cm3, which is generally higher than that of polyolefin, with a density of 0.9 g/cm3. Hence, when they are used in cars, bioplastics increase the weight of cars, resulting in higher fuel consumption.
Opportunity: Development of newer applications
The scope of applications of bio-based polymers is relatively high, similar to traditional polymers. With the increasing focus on the government's sustainability and favorable green procurement policies, the bio-based polymers market is expected to witness a significant growth opportunity in consumer goods applications. The packaging application is also expected to witness significant growth. Biodegradable mulch films have extensive applications in the agriculture industry. Catering for food packaging products is a highly demanding and important application of bio-based polymers, including trays, cutleries, and cups.
Challenge: Segregation and processing of bioplastics market
The biodegradable bioplastics can be composted, digested, or biodegraded on agricultural land. The choice of processing technology for bioplastics depends on the type of product, market volume, and existing infrastructure for collection, recovery, legislation, and costs.
Many bioplastics are not biodegradable (PET, PA, and PE). Although these materials are made from plant-based, renewable sources, they act similarly to fossil-based plastics in marine environments. If animals ingest these plastics, they can cause various problems, and it is difficult for them to break down into microplastics. Even biodegradable plastics (PLA) do not easily decompose within a reasonable period and thus require industrial composting. Bioplastics, particularly biodegradable plastics, can cause recycling streams if they are recycled rather than composted. Therefore, the contamination of a recycling stream will result in the materials being landfilled.
Bioplastics Market & Biopolymers Market Ecosystem
Starch based bioplastics to hold significant potential in the bioplastics & biopolymers market
Starch is generally incorporated into conventional plastics to impart some level of biodegradability to the resulting composites. Starch blends are excellent biodegradable fillers due to their thermal stability and low interference with the melt-flow properties of most materials. They can be used to reduce the cost and accelerate the biodegradation of composite materials. Low starch content (25%–40%) in starch and PP blends enhances ductility and improves flexibility, thereby making the grade ideal for extrusion applications. High starch content (50% and above) in grades promotes brittleness, which results in low tensile strength compared to conventional PP by 6%, thus making it suitable for injection molding applications.
Corn starch to be third largest segment in raw material in bioplastics & biopolymers market
Corn starch is derived from corn grain, which is used to produce polylactic acid (PLA). Corn grain is the cheapest available source and the most abundantly available one too. Corn bioplastic, made from PLA, is a popular alternative to traditional plastic, which is derived from petroleum-based chemicals. Corn starch bioplastic can be used to make biodegradable packaging materials, food bags, and food packaging materials. It is also used in medical implants and surgical devices such as sutures, ligatures, and meshes. One of the key manufacturers, NatureWorks LLC has launched the Ingeo bioplastics series, which is derived from corn starch that is used in high-value-added applications in rigid and flexible packaging manufacturing.
Agriculture & Horticulture end-use industry to register highest CAGR during the forecast period
Biopolymers offer specific advantages, such as biodegradability and biobased content, making them a preferable choice in agriculture. Farmers have been using PBAT and PBS mulch films to improve crop productivity and soil quality. These polymers are also used in the cultivation, harvesting, and processing of agricultural products. Agricultural films can also be used in making plant pots. Biopolymers, such as starch-based plastics, PBAT, and PBS, are used for many applications, including agricultural mulch films, seeding strips, tape planters, planting pots, and covering films. When the mulch films were incorporated into the soil, biodegradability and water-solubility of bioplastics increased. This led to an increased demand for bioplastics in agriculture.
Asia Pacific to register highest CAGR during the forecast period
Government regulations in the Asia Pacific region regarding plastic bags ban and global warming initiatives help in market growth. Prices of bioplastics & biopolymers are higher than conventional, petroleum-based resins, which act as a major restraint for the market growth in the region. The lower living standards and low disposable income of the people in Asia Pacific will result in a price reduction of bioplastics & biopolymers in the region.
Moreover, the increasing regulations in the plastics industry and focus on sustainable development provide opportunities for the replacement of plastics with bioplastics in this region. Consumer awareness regarding sustainable plastics and the pressure from retailers contribute to the rising demand for bioplastics.
In this report, Asia Pacific is segmented into China, India, Japan, South Korea, Thailand, and Rest of Asia Pacific. Most of the production of bio-based polymers in the region is confined to China and Japan.
Source: Secondary Research, Primary Interviews, and MarketsandMarkets Analysis
To know about the assumptions considered for the study on bioplastics market & biopolymers market, download the pdf brochure
Key Market Players
Major players operating in the bioplastics & biopolymers market includes NatureWorks LLC (US), Braskem (Brazil), BASF SE (Germany), TotalEnergies Corbion (Netherlands), Novamont 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).
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
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
Report Metric |
Details |
Years considered for the study |
2018–2027 |
Base year |
2021 |
Forecast period |
2022–2027 |
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 the Middle East & Africa |
Companies |
NatureWorks LLC (US), Braskem (Brazil), BASF SE (Germany), TotalEnergies Corbion (Netherlands), Novamont 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 end use industry:
-
Packaging
- Flexible Packaging
- Rigid Packaging
- Textiles
- Automotive & Transport
- Electronics & Electricals
- Coatings & Adhesives
- Agriculture & Horticulture
- Building & Construction
- Others
Based on the region:
- Asia Pacific
- Europe
- North America
- Middle East & Africa
- South America
Recent Developments
- In November 2022, TotalEnergies Corbion announced a long-term collaboration with BGF. Both companies entered into arrangement for application development and the supply of Luminy PLA.
- In October 2022, Braskem announced to expand its I'm greenTM biopolymer production capacity by 30%. The company is investing USD 60 million to expand the capacity. Braskem and SCG chemicals are the partners for the project. This partnership helps to double the current capacity for I'm greenTM products.
- In June 2021, BASF launched COSMOS-approved texturizing biopolymer Hydagen. The cold processable rheology modifier obtained from the tuber of the konjac plant native to Southwest China is suitable for aqueous systems such as gels, fluids, serums, and novel formats such as patches, jellies, and peel-off formulations.
- In June 2022, Confoil, an Australian manufacturer of food packaging and BASF collaborated to develop certified compostable dual ovenable paper tray for packaging. These trays are made of lightweight paperboard and coated with BASF’s biopolymer Ecovio PS 1606.
- In September 2021, Braskem announced a partnership with Gelmart International, one of the world's largest manufacturers of underwear. Braskem is supplying I’m green EVA biopolymer to produce 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 11.5 billion in 2022 and is projected to reach USD 27.3 billion by 2027, at a CAGR of 18.9%, between 2022 and 2027.
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. .
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
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 form 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, Middle East & Africa, and South America. 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
To know about the assumptions considered for the study, Request for Free Sample Report
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.
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 the Middle East & Africa, 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)
Growth opportunities and latent adjacency in Bioplastics & Biopolymers Market
To understand the implementation of plastic waste management in India.
Looking for information on Bioplastic market
Market information global bioplastics and compostable plastics market.
Invitaion to participate in BioPlastics conference
General information on Bioplastics and Biopolymers
Looking for market of Bio-Resin in Automotive, Marine and Construction
Specific information on current and forecast bioplastics production in US along with segmentation
Industrial Hemp Market
Specific interest in the market share of Bio-based polymers in this market
Incomplete
What is the market share and growth rate for the Biopolymers industries
Information on Bio PET, Bio PE, PLA, PHA, Bio PBS, Starch Blends, and Regenerated Cellulose * Application: Packaging, Bottles, Agriculture, Automotive
How do you reference this work? Author, publisher etc?
Want to understand world production of Bioplastic and future growth
Manufacturers of bio-pesticides, bio-polymer coated bags for post harvest management, we are Interested in bio-plastic.
Demand / supply outlook of BioPlastic industry including competitiveness, market pricing, suitable application and challenges.
lookinf for part time association with markets and markets
Require Bioplastics & Biopolymers Market study