Bio-based Polymers Market Size (2024 - 2029)

The bio-based polymers market is projected to experience significant growth over the forecast period, driven by the rising demand for sustainable plastics and the expanding applications of biodegradable plastics. Despite challenges such as performance issues and higher costs compared to petroleum-based alternatives, the market is poised for expansion, particularly within the packaging industry, which remains a dominant sector. The increased consumption of packaging coatings, spurred by the demand for packaged and online food deliveries during and after the COVID-19 pandemic, has further contributed to the market's growth trajectory.

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Market Size of Bio-based Polymers Industry

Bio-based Polymers Market - Market Summary
Study Period 2019-2029
Base Year For Estimation 2023
CAGR (2024 - 2029) 24.30 %
Fastest Growing Market Asia Pacific
Largest Market Europe
Market Concentration High

Major Players

Bio-based Polymers Market Major Players

*Disclaimer: Major Players sorted in no particular order

Bio-based Polymers Market Analysis

The Bio-based Polymers Market size is estimated at 1.5 Million tons in 2024, and is expected to reach 4.46 Million tons by 2029, growing at a CAGR of 24.30% during the forecast period (2024-2029).

The Bio-based Polymers Market size is expected to grow from 1.21 million tons in 2023 to 3.59 million tons by 2028, at a CAGR of 24.30% during the forecast period (2023-2028).

COVID-19 impacted the bio-based polymer market's growth. However, the increased demand for packaged food and online food deliveries during the pandemic and post-pandemic propelled the consumption of packaging coatings, which resulted in the consumption of bio-based polymers.

  • Over the short term, increasing demand for sustainable plastics is one of the major factors driving market demand.
  • On the flip side, the performance issue with bioplastics and the high prices associated with bio-based polymers compared to petroleum-based polymers are expected to hinder the growth of the market studied.
  • The increasing applications of biodegradable plastics are likely to present an opportunity in the future.
  • Moreover, the packaging industry dominates the market and is expected to grow during the forecast period.

Bio-based Polymers Industry Segmentation

Bio-based materials are derived from plants and are biodegradable. Similarly, bio-based polymers are also derived from plants such as corn, sugarcane, vegetable oil, soybeans, cellulose, and others. These polymers are also known as next-generation polymers, which are used to reduce the use of fossil fuels. Cellulose and starch were the first bio-based polymers invented and used in textiles, packaging construction, and other applications. The bio-based polymers market is segmented by type, application, and geography (Asia-Pacific, North America, Europe, and the rest of the world). By type, the market is segmented into starch-based plastics, polylactic acid, polyhydroxy alkanoates, polyesters, and cellulose derivatives. By application, the market is segmented into agriculture, textiles, electronics, packaging, healthcare, and other applications. The report also covers the market size and forecasts for the bio-based polymers market in 13 countries across major regions. The report offers market sizes and forecasts for each segment based on volume (tons).

Type
Starch-based Plastics
Poly Lactic Acid (PLA)
PolyHydroxy Alkanoates (PHA)
Polyesters (PBS, PBAT, and PCL)
Cellulose Derivatives
Application
Agriculture
Textile
Electronics
Packaging
Healthcare
Other Applications
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
Rest of World
Brazil
Saudi Arabia
Rest of the World
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Bio-based Polymers Market Size Summary

The bio-based polymers market is experiencing significant growth, driven by the increasing demand for sustainable plastics and the rising applications of biodegradable materials. The packaging industry is the dominant sector, benefiting from the polymers' excellent properties such as clarity, gloss, and resistance to food fats and oils. These polymers are extensively used in packaging for fruits, vegetables, bakery products, and more. The market is particularly expanding in regions like Europe and North America, where regulatory bodies are promoting the use of biodegradable and food-grade plastics. The growing consumer awareness regarding food safety and environmental concerns is further propelling the demand for bio-based polymers, especially in emerging economies.

Europe holds a leading position in the global bio-based polymers market, supported by public awareness and government initiatives encouraging eco-friendly packaging solutions. The region's focus on sustainability, exemplified by the European Green Deal and the ban on single-use plastics, is driving the demand for bio-based polymer packaging. The United Kingdom, in particular, is witnessing increased demand due to government policies and initiatives promoting sustainable packaging. The market is partially consolidated, with major players like BASF SE, Covestro AG, and NatureWorks LLC playing significant roles. The ongoing developments and strategic initiatives by these companies are expected to shape the market's future trajectory.

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Bio-based Polymers Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Preference toward Eco-friendly Polymers to Preserve Environment

      2. 1.1.2 Regulation on Non-degradable Polymers in Many Countries

      3. 1.1.3 Increasing Consumer Awareness in Developed and Developing Nations

      4. 1.1.4 Non-toxic Nature of Biodegradable Polymers

    2. 1.2 Restraints

      1. 1.2.1 Higher Price Compared to Petroleum-based polymers

      2. 1.2.2 Low Awareness in Low Income Countries

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION

    1. 2.1 Type

      1. 2.1.1 Starch-based Plastics

      2. 2.1.2 Poly Lactic Acid (PLA)

      3. 2.1.3 PolyHydroxy Alkanoates (PHA)

      4. 2.1.4 Polyesters (PBS, PBAT, and PCL)

      5. 2.1.5 Cellulose Derivatives

    2. 2.2 Application

      1. 2.2.1 Agriculture

      2. 2.2.2 Textile

      3. 2.2.3 Electronics

      4. 2.2.4 Packaging

      5. 2.2.5 Healthcare

      6. 2.2.6 Other Applications

    3. 2.3 Geography

      1. 2.3.1 Asia-Pacific

        1. 2.3.1.1 China

        2. 2.3.1.2 India

        3. 2.3.1.3 Japan

        4. 2.3.1.4 South Korea

        5. 2.3.1.5 Rest of Asia-Pacific

      2. 2.3.2 North America

        1. 2.3.2.1 United States

        2. 2.3.2.2 Canada

        3. 2.3.2.3 Mexico

      3. 2.3.3 Europe

        1. 2.3.3.1 Germany

        2. 2.3.3.2 United Kingdom

        3. 2.3.3.3 Italy

        4. 2.3.3.4 France

        5. 2.3.3.5 Rest of Europe

      4. 2.3.4 Rest of World

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Saudi Arabia

        3. 2.3.4.3 Rest of the World

Bio-based Polymers Market Size FAQs

The Bio-based Polymers Market size is expected to reach 1.5 million tons in 2024 and grow at a CAGR of 24.30% to reach 4.46 million tons by 2029.

In 2024, the Bio-based Polymers Market size is expected to reach 1.5 million tons.

Bio-based Polymers Market Report Snapshots

Bio-based Polymers Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)