The global bioplastic market was valued at US $ 7.5 Billion in 2023 and is expected to reach US $ 31.66 Billion by 2032 growing at a CAGR of 20.2% during the forecast period 2024 – 2032.

To lessen the burden on the vehicles, the aim and challenge in the automobile domain is to lightweight the vehicles. Bioplastic has proven itself as a material that can help achieve this objective. Some big players in the auto industry such as bio-PA and bio-PP made intelligent plastics that improved car parts with minimal ecological effect. European association anticipates that soon there will be application in automobile sector which will increase the production volume up to 170Kt till year 2024. Market members expect that this rising demand will present new chances due to their better characteristics.

This type of plastic comes from renewable sources in order to reduce plastic waste. These plastics commonly originate from renewable biomass sources such as vegetable lipids, starch, cellulose, natural sugars, and waste oils. Moreover, new sources such as insects, animal and seaweed are also under research. Although not all source materials are capable of biodegradation, most do readily decompose than the conventional plastics used for furniture, electronics, packaging, fabrics and electronic parts among other applications.

The imposition of rigorous regulations and laws by the regulatory organizations on the use of non-renewable single-use plastics has seen the sectors pivot to focus on the development and application of biodegradable plastic grades in many applications. Multinational companies and consumers, for the sake of ensuring a sustainable future for humanity’s posterity, are making considerable efforts in the production of environmentally friendly plastics where researchers devote extensive resources. Therefore, these variables are assumed to ignite growth of bioplastic industry.

The Bioplastics Trend Analysis

The deployment of biodegradable plastics in multiple industries remains visible even though in terms of packaging their utilization becomes more prominent as they possess similar characteristics with common plastics. These are used for flexible as well as rigid packaging. In view of this, one expects the world-wide ecommerce to consume lots of packaging materials in the projected future years. Using bio-polymers can be an effective way to substitute traditional plastics and thus reduce plastic pollution.

There has been a rise in demand for polymers obtained from renewable feedstocks in various industries, such as pharmaceuticals and foods. Additionally, there is a growing market for convenient foods in both developed and developing economies. Consequently, the manufacturers of these commodities have taken an initiative in sourcing for eco-friendly packaging’s with negligible or zero implications on the packed commodity. These strategies in relation, to the products will raise the percentage of market share by bioplastics on a global scale.

Segmentation Analysis of the Bioplastics Market

Biodegradable Plastics to Generate Higher Revenue due to its Rising Preference from Packaging Industry

The market is segmented into biodegradable and non-biodegradable, based on type.

This is due to large consumption of this product in consumer goods, packaging, textiles, and agriculture & horticulture segments. The performance attributes are required by these sectors while still ensuring the sustainability of the environment. Other degrade able plastics are PHA, blend of starch mixes, PLA, PBAT and PBS. It enjoys large shares of these markets because it has been widely taken up by the packaging industry.

Increased manufacturing of consumer goods, automotive components, and food packaging within the non-biodegradable sector. Additionally, it is used to build auto housings, carry bags/bottle and for electronic purposes as such polymers are highly strong and durable. They also act as substitutions for high grade optical glass elements. Other major non-biodegradable resins include BIO-PET, BIO-PA, BIO-PE, and BIO-PTT. Most of the bio-PET is involved into this sector as there are a wide range of applications within the packing material sector, as well as within the electronics sector, as well as among consumers’ products.

Rigid Packaging is anticipated to Exhibit a Rapid Growth owing to Increasing Demand from Shipping Companies

Based on application, the market is segmented into flexible packaging, textiles, automotive & transportation, rigid packaging, agriculture & horticulture, consumer goods, and others.

Rigid packaging is expected to retain the lead in this segment. In terms of the shipping industry, bio-plastics have started gaining more traction as packaging material especially the rigid containers that need to be strong yet environmentally compatible. The expansion prospects of this section of the global market stem from increasing use of flexible packaging in sectors such as food and pharmaceuticals during the forecasted timeframe. The flexible packaging is classified as pouch, shopping bag or trash bag, and other and the rigid packaging includes bottle and jar, containers, and others.

In a nutshell, automakers focus on minimizing the fuel consumption and the weight of their products. The automotive industry has greatly demanded bio-based plastics because they are most suitable in this application. The use of these types of plastics in automotive applications can be attributed to their high strength-to-weight ratio, which is corrosion resistant and self-healing ability.

Regional Analysis of the Bioplastics Market

The value for the European market in 2022 was estimated at USD 3.68 billion. This fact makes Europe the center point both for production and sale of this product. At present, Europe leads with approximately 25% of the total global bioplastic production as per European Bioplastics. In addition, the growing demand for bio-based packaging materials among various manufacturers across this region together with the strength of the automotive industry are more reasons expected to promote market growth.

The improvement in production capabilities of Asia-Pacific is what leads to a marked development. European bioplastics asserts that about 56 percent of the product is manufactured within this region. As a result of the global pandemic, China’s foreign investment law was postponed and it is expected that the realization will boost investment to this region. Growing packaging industry in the region will augment the market growth even more.

Demand for lightweight automotive components and electronics will create consistent expansion of the global market in North America. The consumer good’s sector will witness growth in the regional market as a result of the affluent life style of the population who consider and are willing to pay for high quality commodities.

One major determinant for the market in the rest of the world is the increasing demand for bioplastics in agriculture and horticulture. Additionally, it is projected that the expansion of the food products manufacturing sector will determine the region’s development in the future. As a result of intense global pressure on curtailing the use of conventional plastics, these manufacturers are looking for environment friendly packaging options.

COVID-19 Impact Analysis on Bioplastics Market.

Decreased Prices of Conventional Plastics during Pandemic Threatened Bioplastics Adoption

As the world was hit by the COVID-19 pandemic, its production and transport sectors went down which led to a fall in ordinary plastics’ cost. Prices of conventional plastics have been at an all-time low since after the second world war owing to the drastically reduced in the use of petroleum oils, which is their source material. Thus, it was the most important factor behind the gradual expansion and maturation of the industry.

Moreover, because of the pandemic, many governments and bodies postponed their plans to introduce regulations on single use plastics and green investment to prevent adoption of the bio-based products. However, sustainable plastics could be considered as a viable alternative to traditional plastics that are highly demanded due to the increasing use of food packaging, medicinal products packaging, as well as the use of personal protective equipment industry. This was another opportunity that aided in expanding this market after the pandemic.

Top Key Players 

1. TEIJIN LIMITED
2. TORAY INDUSTRIES, INC.
3. Toyota Tsusho Corporation
4. Avantium
5. PTT MCC Biochem Co., Ltd.
6. An Phat Holdings
7. NatureWorks LLC
8. SABIC
9. BASF SE
10. Futerro
11. Trinseo S.A.
12. Braskem
13. Total Corbion PLAIR
14. SUPLA (JIANGSU SUPLA BIOPLASTICS CO., LTD.)
15. Solvay

Key Industry Developments in the Bioplastics Market

• January 2023 - Arkema announces plans to showcase the bio-circular material during MIDO exhibition in Milan. The organization plans to present several innovative bio-based and recyclable materials at the event. The eyeglasses are made of fashionable Rilsan polyamide 11 grades (also mineral additives) and Unique Pebax Rnew elastomer grades.
• April 2023 - As one of the ways to strengthen its research and innovation presence in the US, Solvay announced a strategic partnership with Ginkgo Bioworks. This partnership involved setting up a branch in North America and creating eco-friendly biopolymers.
• April 2023 - The new product called, Ingeo 6500D comes from natureworksllc, which is made up of some biopolymers. This product is expected to provide solutions to enhance the strength and flexibility characteristics required for bio-based nonwovens used as hygiene.
• May 2023- Changsu industrial and total energies corbion enter into an agreement to promote the development and use of biobased bio based plastics labeling materials. A partnership with Corbion will enhance the revenue earnings of TotalEnergies through its biobased product line.
• November 2022 - Under the said collaboration, TotalEnergies Corbion, BGF signed the Long term Partnership agreement which aimed at developing of product, bio-based luminy PLA. Maximizing the revenue margin was the intention for this collaboration.

Table of Contents

1. Introduction Of Global Bioplastic Market
   1. Overview of the Market
   2. Scope of Report
   3. Assumptions
2. Executive Summary
3. Research Methodology
   1. Data Mining
   2. Validation
   3. Primary Interviews
   4. List of Data Sources
4. Global Bioplastic Market Outlook
   1. Overview
   2. Market Dynamics
      1. Drivers
      2. Restraints
      3. Opportunities
   3. Porters Five Force Model
      1. Bargaining Power of Suppliers
      2. Threat of New Entrants
      3. Threat of Substitutes
      4. Competitive Rivalry
      5. Bargaining Power among Buyers
   4. Value Chain Analysis
5. Global Bioplastic Market, By Product
   1. Overview
   2. Biodegradable
      1. Starch Blends
      2. Polylactic Acid (PLA)
      3. Polybutylene Adipate Terephthalate (PBAT)
      4. Polybutylene Succinate (PBS)
      5. Polyhydroxyalkanoates (PHA)
      6. Other Biodegradables
   3. Non-Biodegradable
      1. Bio-Polyethylene Terephthalate (Bio-PET)
      2. Bio-Polyamide (Bio-PA)
      3. Bio-Polyethene (Bio-PE)
      4. Bio-Polypropylene (Bio-PP)
      5. Bio-Polytrimethylene Terephthalate (Bio-PTT)
      6. Other non-biodegradables
6. Global Bioplastic Market, By Application
   1. Rigid Packaging
      1. Bottles & Jars
      2. Trays
      3. Others
   2. Flexible Packaging
      1. Pouches
      2. Shopping/Waste Bags
      3. Others
   3. Textiles
   4. Automotive & Transportation
   5. Agriculture & Horticulture
   6. Consumer Goods
   7. Others
7. Global Bioplastic Market, By Region
   1. North America
      1. U.S.
      2. Canada
   2. Europe
      1. Germany
      2. U.K.
      3. France
      4. Rest of Europe
   3. Asia Pacific
      1. China
      2. Japan
      3. India
      4. South Korea
      5. Singapore
      6. Malaysia
      7. Australia
      8. Thailand
      9. Indonesia
      10. Philippines
      11. Rest of Asia Pacific
   4. Others
      1. Saudi Arabia
      2. U.A.E.
      3. South Africa
      4. Egypt
      5. Israel
      6. Rest of Middle East and Africa (MEA)
      7. Brazil
      8. Argentina
      9. Mexico
      10. Rest of South America
8. Company Profiles
   1. Cargill Incorporated
      1. Company Overview
      2. Key Executives
      3. Operating Business Segments
      4. Product Portfolio
      5. Financial Performance (As per availability)
      6. Key News
   2. PTT MCC Biochem Co., Ltd.
      1. Company Overview
      2. Key Executives
      3. Operating Business Segments
      4. Product Portfolio
      5. Financial Performance (As per availability)
      6. Key News
   3. Biome Technologies plc
      1. Company Overview
      2. Key Executives
      3. Operating Business Segments
      4. Product Portfolio
      5. Financial Performance (As per availability)
      6. Key News
   4. Plantic Technologies Limited
      1. Company Overview
      2. Key Executives
      3. Operating Business Segments
      4. Product Portfolio
      5. Financial Performance (As per availability)
      6. Key News
   5. BASF SE
      1. Company Overview
      2. Key Executives
      3. Operating Business Segments
      4. Product Portfolio
      5. Financial Performance (As per availability)
      6. Key News
   6. Total Corbion PLA
      1. Company Overview
      2. Key Executives
      3. Operating Business Segments
      4. Product Portfolio
      5. Financial Performance (As per availability)
      6. Key News
   7. Synbra Technology BV
      1. Company Overview
      2. Key Executives
      3. Operating Business Segments
      4. Product Portfolio
      5. Financial Performance (As per availability)
      6. Key News
   8. Futerro
      1. Company Overview
      2. Key Executives
      3. Operating Business Segments
      4. Product Portfolio
      5. Financial Performance (As per availability)
      6. Key News
   9. Novamont SpA
      1. Company Overview
      2. Key Executives
      3. Operating Business Segments
      4. Product Portfolio
      5. Financial Performance (As per availability)
      6. Key News
   10. NatureWorks LLC
       1. Company Overview
       2. Key Executives
       3. Operating Business Segments
       4. Product Portfolio
       5. Financial Performance (As per availability)
       6. Key News
   11. Eastman Chemical Company
       1. Company Overview
       2. Key Executives
       3. Operating Business Segments
       4. Product Portfolio
       5. Financial Performance (As per availability)
       6. Key News
   12. Trineso
       1. Company Overview
       2. Key Executives
       3. Operating Business Segments
       4. Product Portfolio
       5. Financial Performance (As per availability)
       6. Key News
   13. Danimer Scientific
       1. Company Overview
       2. Key Executives
       3. Operating Business Segments
       4. Product Portfolio
       5. Financial Performance (As per availability)
       6. Key News
   14. FKuR Kunststoff GmbH
       1. Company Overview
       2. Key Executives
       3. Operating Business Segments
       4. Product Portfolio
       5. Financial Performance (As per availability)
       6. Key News

Global Bioplastics Market Segmentation

Bioplastics by Type: Market Size & Forecast 2024-2032

• Biodegradable
  • Starch Blends
  • Polylactic Acid (PLA)
  • Polybutylene Adipate Terephthalate (PBAT)
  • Polybutylene Succinate (PBS)
  • Polyhydroxyalkanoates (PHA)
  • Other Biodegradables
• Non-Biodegradable
  • Bio-Polyethylene Terephthalate (Bio-PET)
  • Bio-Polyamide (Bio-PA)
  • Bio-Polyethene (Bio-PE)
  • Bio-Polypropylene (Bio-PP)
  • Bio-Polytrimethylene Terephthalate (Bio-PTT)
  • Other Non-Biodegradables

Bioplastics by Application: Market Size & Forecast 2024-2032

• Rigid Packaging
  • Bottles & Jars
  • Trays
  • Others
• Flexible Packaging
  • Pouches
  • Shopping/Waste Bags
  • Others
• Textiles
• Automotive & Transportation
• Agriculture & Horticulture
• Consumer Goods
• Others

Bioplastics by Geography: Market Size & Forecast 2024-2032

• North America (USA, Canada, Mexico)
• Europe (Germany, UK, France, Russia, Italy, Rest of Europe)
• Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific)
• South America (Brazil, Argentina, Columbia, Rest of South America)
• Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Rest of MEA)

Major Players:

• TEIJIN LIMITED
• TORAY INDUSTRIES, INC.
• Toyota Tsusho Corporation
• Avantium
• PTT MCC Biochem Co., Ltd.
• An Phat Holdings
• NatureWorks LLC
• SABIC
• BASF SE
• Futerro
• Trinseo S.A.
• Braskem
• Total Corbion PLAIR
• SUPLA (JIANGSU SUPLA BIOPLASTICS CO., LTD.)
• Solvay