Bioplastics & Biopolymers Market (By Type: Non-Biodegradable, Biodegradable, By End-User: Consumer Goods, Packaging, Automotive, Textiles, Agriculture, Others) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2015 - 2026
The global bioplastics & biopolymers market size is expected to worth around US$ 20.85 Bn by 2026, growing at a CAGR of around 9.6% over forecast period 2019 to 2026.
Bioplastics are materials made by the plastics that produced from renewable sources of materials, for instance, it is used to pack in various forms which include food & beverage, pharmaceuticals, personal care & cosmetics, carry bags and others. Bio-plastics is generated by human & animal waste, plant products & agricultural waste, recycled and made new products using innovative technologies. Bioplastics and biopolymers are comprehensively used by the packaging industry. Hence, Bio-based raw materials like starch and vegetable waste crop by-products are being utilized in order to follow the rigorous government regulations regarding environmental safety. Therefore, product quality is retained in this industry is also lesser than the old-fashioned plastic product manufacturing industries. Bio-plastics is mainly used to store the food items or can be stored without refrigeration for a longer duration and also maintains chemical properties.
Market Dynamics
The bioplastics & biopolymers market is primarily driven by the rising increase demand for plastic convenience and quality food products, increase in the urban population which increases adoption of food, increase in the consumption of processed or stored food and packaged food for consumers across the globe, growing disposable income of eatable food and multi-functionality of packaging. Furthermore, an increase in demand for packaged foods, innovation and development in bio-plastic packaging, rising concerns about the health of consumers, and rising spending capacity of packaging food owners on food durable products is estimated to boost the market growth. Moreover, changing lifestyles of consumers across developed countries, growing pharmaceutical, food industry and other industries and emergence of new product development in bioplastics & biopolymers products are expected to create opportunities for the manufacturers in the global market over the forecast period.
The increase in chemicals used by the consumers coupled with the growing prevalence of bioplastics & biopolymer markets across the globe is primarily driving the market growth. Rising demand for packaging, consumer goods, automotive, textiles, agriculture or others in North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa regions are further strengthened the market growth. Increasing in the disposable income in developing countries and advancements in the technology in developed countries for further accelerating the growth in the market value. The innovative methods of biodegradable products the percentage use which is highly expected to hinder the market growth. In the increasing investment on forefront technologies and the untapped market of developing economies is anticipated to create potential opportunities over the forecast period of bioplastics & biopolymers market.
Based on type, Non Bio-degradable segment dominated the bioplastics & biopolymers market
Based on type, the market has been segmented into biodegradable & non-biodegradable. The non-biodegradable segment accounts for the largest share in the market in 2018. The increase in the demand for non-biodegradable plastics packaging products which grows the demand for Non-Biodegradable packaging in material packaging type. The major factors that are driving the growth of this segment are increasing consumption of non-biodegradable bioplastics products with efficient marketing styles.
Based on end user, the packaging segment is expected to dominate during the forecast period
Based on end user, the bioplastics & biopolymers market has been segmented into consumer goods, packaging, automotive, agriculture, textiles, and others. The packaging segment accounts for the largest share in the market in 2018. The major factors that are driving the growth of this segment are the rising demand in packaging solutions and the increase in concerns regarding environmental safety. Packaging segments in applications of bioplastics & biopolymers may include food & beverage packaging, pharmaceutical packaging, and carry bags. PLA companies extensively use recyclable products that drive the market. The increasing demand for environment-friendly packaging made from bio-based polymers is driving the demand for products such as PLA based polymers.
The market research study on “Bioplastics & Biopolymers Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 – 2026”, offers a detailed insight into the global bioplastics & biopolymers market entailing insights on its different market segments. Market dynamics with drivers, restraints, and opportunities with their impact are provided in the report. The report provides insights into the global bioplastics & biopolymers market, its type, end user, and major geographic regions. The report covers basic development policies and layouts of industrial technology development processes. Secondly, the report covers global pet food packaging market size and volume, and segment markets by type, end user, and geography along with the information on companies operating in the market. The bioplastics & biopolymers market analysis is provided for major regional markets including North America, Europe, Asia Pacific, Latin America and Middle East and Africa. For each region, the market size and volume for different segments have been covered under the scope of the report.
In 2018, Europe dominated the regional market with a maximum market share
Europe accounted for the largest market share of the bioplastics & biopolymers market and the region is also expected to maintain its dominance over the forecast period. The rapid consumption of plastics and rising consumer awareness for bio-based products are the major driving factor for the region in the global market. Moreover, the increasing demand of plastic for keeping environment-friendly products and increasing awareness about maintaining atmosphere balance among the consumers are expected to enhance the market growth in the global bioplastics & biopolymers market in the future. The factors have been accountable for the development of plastics that are bio-based with joint research, which is expected to rise further in Europe’s plastics industry. The political effects and economic conditions have also played important role in the market saturation of bio-plastics & bio-polymers. Increase in the packaging of goods, growing disposable income, and increase in innovation and development in biodegradable & biopolymer products are expected to enhance the regional market growth in the global Bioplastics & biopolymers market during the forecast.
Asia Pacific is expected to hold the highest CAGR in the global market during the forecast period. Moreover, changing lifestyle of consumers, increase in growing GDP, and strong economic growth in countries, such as China, Korea, Thailand, Japan, and India, are expected to enhance the market growth in the global bioplastics & biopolymers market during the forecast.
The players profiled in the report include BASF, Biome Bioplastics, Bio-On, Braskem, Mitsubishi Chemical Corporation, Nature Works, Novamont, Plantic Technologies, Total Corbion PLA, and Toray Industries.The companies are involved in mergers and acquisitions and new product development for expanding their market share and also for gaining competitive advantages over its competitors.
Market Segmentation
Market By Type
- Non-Biodegradable
- Biodegradable
Market By End-User
- Consumer Goods
- Packaging
- Automotive
- Textiles
- Agriculture
- Others
Market By Geography
North America
- U.S.
- Canada
Europe
- U.K.
- Germany
- France
- Spain
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Frequently Asked Questions
Are biopolymers biodegradable?
Yes, biopolymers are biodegradable, and some are compostable.
Where does bioplastics and biopolymers used?
Bioplastics and biopolymers are comprehensively used by the packaging industry.
Uses of bio-plastics?
Bio-plastics is mainly used to store the food items or can be stored without refrigeration for a longer duration and also maintains chemical properties.
What will be the market value of bioplastics & biopolymers in the forecast period 2019 to 2026?
According to Acumen Research and Consulting, The bioplastics & biopolymers market value is anticipated to be worth around US$ 20.85 billion in 2026.
What will be the growth rate of bioplastics & biopolymers market during the forecast period 2019 to 2026?
The bioplastics & biopolymers market is anticipated to grow over 9.6% CAGR during the forecast period 2019 to 2026.
Which factor curbs the growth of bioplastics & biopolymers market?
Factors such as the rising increase demand for plastic convenience and quality food products, increase in the urban population which increases adoption of food, increase in the consumption of processed or stored food and packaged food restrain the bioplastics & biopolymers market growth.
Which region held the maximum share of the bioplastics & biopolymers market?
Europe held maximum share in 2018 for bioplastics & biopolymers market.
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