Bioplastics Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR (2024 - 2029) | 17.25 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Bioplastics Market Analysis
The Bioplastics Market size is estimated at 2.09 Million tons in 2024, and is expected to reach 4.63 Million tons by 2029, growing at a CAGR of 17.25% during the forecast period (2024-2029).
Due to the COVID-19 outbreak, nationwide lockdowns around the globe disrupted manufacturing activities and supply chains, and production halts impacted the market in 2020. However, the conditions started recovering in 2021, restoring the market's growth trajectory during the forecast period.
- A significant factor driving the market studied is the environmental issues encouraging a paradigm shift to promote bioplastics. Additionally, the growing demand for packaging will likely favor the market's growth.
- However, the cheaper alternatives availability is likely to hamper the market's growth.
- Growing use in the electronics industry will likely provide new growth opportunities for the market.
- Europe accounts for the highest market share and is expected to dominate the market during the forecast period.
Bioplastics Market Trends
This section covers the major market trends shaping the Bioplastics Market according to our research experts:
Flexible Packaging is Expected to Dominate the Market
- Bioplastics are used in flexible packaging as they are not harmful to nature and are easily degradable.
- They are used in packaging films for food items, medicines, beverage bottles, and packaging films. It is also used in packaging non-food products, such as napkins and tissues, toilet paper, nappies, sanitary towels, cardboard and coat paper for food wrapping paper, and coated cardboard to make cups and plates. Moreover, they are used in flexible and loose-fill packaging.
- Bioplastics made of cornstarch have applications in flexible and loose-fill packaging.
- Polylactic acid (PLA) is used mainly in packaging food items, while bio polyethylene terephthalate (PET), bio polyethylene, and bio polypropylene are majorly used as packaging films.
- According to Packmedia, in 2021, the world market for flexible converter packaging was estimated at USD 102 billion, up 8% from the previous year.
- According to Packmedia, the United States and Central and East Asia each share 28% of the market. At the European level, growth is around +6.4% for sales and +1.6% in volume. Growth prospects for 2022, again at the European level, are 2.9% and 2%, respectively.
- The global packaging industry is growing. Asia-Pacific includes the most significant manufacturing capacity for bioplastics, i.e., 45%. Moreover, the increasing awareness among consumers and the government's strict ban in countries like China, India, and Japan have promoted bioplastic consumption in the region.
- Thus, the abovementioned factors are expected to impact the market during the forecast period positively.
Europe to Dominate the Market
- Europe dominated the overall bioplastics market, with most of the demand coming from Germany, France, Italy, and the United Kingdom.
- Germany's food and beverage industry are characterized by its small and medium-sized enterprise sector of over 6,000 companies. The revenue in the food and beverage market was estimated at USD 3,222 million in 2021. The market is expected to grow annually by 6.83% during the forecast period, driving the country's flexible and rigid packaging industry and bioplastic consumption.
- According to the Federal Statistical Office, the Gross domestic product (GDP) from agriculture in Germany increased to EUR 7.64 billion (~USD 8.88 billion) in the fourth quarter of 2021 from EUR 7.41 billion (~USD 8.61 billion) in the third quarter of 2021.
- France is home to the largest agricultural sector in Europe. It is among the top producers in the global agriculture market and produces sugar beets, wine, milk, beef and veal, cereals, and oilseeds. However, the country experienced severe droughts. According to France's main agricultural trade union, FNSEA, 14,000 farms out of 440,000 filed compensation claims following the extreme heat and lack of rain that ravaged France during the spring and summer.
- In 2021, France produced about 13,51,308 units of vehicles, which increased by 3% in comparison to 2020.
- Italy's packaging industry is one of the largest in the world. There are nearly 7,000 significant and minor packaging companies active in the country. The growing importance of supermarket retailing and the changing consumer purchasing habits are increasing the packaging demand in the country. Besides, exports are adding to the need for packaging materials.
- The total production of automobiles in the first three quarters of 2021, Italy's automotive production increased by 20% over Q1-Q3 of 2020 and reached 600,586 vehicles. Moreover, the overall vehicle production in 2021 came to about 795,856 units, which increased by 2% compared to 2020, with a volume of about 777,165. The growing popularity of electric vehicles is expected to support the overall industry growth in the upcoming future.
- The United Kingdom is the fourth-largest consumer of plastics in Europe. The country is identified as one of the most innovative and advanced countries in terms of developing advanced and modified plastics. However, the country is focusing on bioplastics due to the increasing awareness about the environmental impact of petroleum-based non-biodegradable plastics.
- The United Kingdom is the largest European market for high-end consumer electronics products, with about 18,000 UK-based electronics companies. According to the Department for International Trade, the electronics sector in the United Kingdom is worth around GBP 16 billion (~USD 21.86 billion) yearly to the local economy.
- Hence, the market scenario in the region is expected to boost the demand for bioplastics throughout the forecast period.
Bioplastics Industry Overview
The bioplastics market is fragmented. Some of the key players in the market (not in any particular order) include Braskem, Novamont SpA, NatureWorks LLC, Indorama Ventures Public Company Limited, and Total Corbion PLA.
Bioplastics Market Leaders
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Braskem
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Novamont SpA
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NatureWorks LLC
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Indorama Ventures Public Company Limited
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Total Corbion PLA
*Disclaimer: Major Players sorted in no particular order
Bioplastics Market News
- August 2022: BASF Venture Capital GmbH, the corporate venture company of BASF SE, Germany, and Aqua-Spark, a Dutch investment fund, is investing in Sea6 Energy Pvt. Ltd. Sea6 Energy is a leader in the production and processing of tropical red seaweed. Sea6 Energy is also working on developing bioplastics and biofuels based on red seaweed.
- April 2022: Trinseo launched MAGNUM BIO ABS for automotive applications. The launch of MAGNUM BIO ABS extends the company's sustainably-advantaged portfolio and supports efforts to deliver sustainable, innovative solutions to customers enabling them to achieve sustainability goals.
- March 2022: ABB technology to automate NatureWorks' new bioplastics plant in Thailand, helping to meet the increasing global demand for sustainable materials. The new site is set to produce 75,000 tons of Ingeo PLA biopolymer per year - an integrated process from fermentation to polymerization enhances supply chain reliability. ABB technology will help improve energy and production efficiency of bioplastic manufacturing, expected to grow over 260% by 2026
Bioplastics Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
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4.1 Drivers
- 4.1.1 Environmental Factors Encouraging a Paradigm Shift
- 4.1.2 Growing Demand for Bioplastics in Packaging
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4.2 Restraints
- 4.2.1 Availability of Cheaper Alternatives
- 4.3 Industry Value Chain
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4.4 Industry Attractiveness - Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitutes
- 4.4.5 Degree of Competition
- 4.5 Patent Analysis
5. MARKET SEGMENTATION (Market Size in Volume)
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5.1 Type
- 5.1.1 Bio-based Biodegradables
- 5.1.1.1 Starch-based
- 5.1.1.2 Polylactic Acid (PLA)
- 5.1.1.3 Polyhydroxy Alkanoates (PHA)
- 5.1.1.4 Polyesters (PBS, PBAT, and PCL)
- 5.1.1.5 Other Bio-based Biodegradables
- 5.1.2 Bio-based Non-biodegradables
- 5.1.2.1 Bio Polyethylene Terephthalate (PET)
- 5.1.2.2 Bio Polyethylene
- 5.1.2.3 Bio Polyamides
- 5.1.2.4 Bio Polytrimethylene Terephthalate
- 5.1.2.5 Other Non-biodegradables
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5.2 Application
- 5.2.1 Flexible Packaging
- 5.2.2 Rigid Packaging
- 5.2.3 Automotive and Assembly Operations
- 5.2.4 Agriculture and Horticulture
- 5.2.5 Construction
- 5.2.6 Textiles
- 5.2.7 Electrical and Electronics
- 5.2.8 Other Applications
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5.3 Geography
- 5.3.1 Asia-Pacific
- 5.3.1.1 China
- 5.3.1.2 India
- 5.3.1.3 Japan
- 5.3.1.4 South Korea
- 5.3.1.5 Rest of Asia-Pacific
- 5.3.2 North America
- 5.3.2.1 United States
- 5.3.2.2 Canada
- 5.3.2.3 Mexico
- 5.3.3 Europe
- 5.3.3.1 Germany
- 5.3.3.2 United Kingdom
- 5.3.3.3 Italy
- 5.3.3.4 France
- 5.3.3.5 Rest of Europe
- 5.3.4 South America
- 5.3.4.1 Brazil
- 5.3.4.2 Argentina
- 5.3.4.3 Rest of South America
- 5.3.5 Middle-East and Africa
- 5.3.5.1 Saudi Arabia
- 5.3.5.2 South Africa
- 5.3.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share Analysis
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles (Overview, Financials**, Products and Services, and Recent Developments)
- 6.4.1 Trinseo
- 6.4.2 Arkema
- 6.4.3 BASF SE
- 6.4.4 BIOTEC
- 6.4.5 Braskem
- 6.4.6 Danimer Scientific
- 6.4.7 Rodenburg Biopolymers
- 6.4.8 Futerro
- 6.4.9 Indorama Ventures Public Company Limited
- 6.4.10 Minima
- 6.4.11 Natureworks LLC
- 6.4.12 Novamont SpA
- 6.4.13 Total Corbion PLA
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Growing Use in the Electronics Industry
Bioplastics Industry Segmentation
Bioplastics are produced from renewable sources, such as corn starch, vegetable fats and oils, woodchips, straw, recycled food waste, sawdust, and other sources. The market is segmented by type, application, and geography. By type, the market is segmented into bio-based biodegradables and bio-based non-biodegradables. By application, the market is segmented into flexible packaging, rigid packaging, automotive and assembly operations, agriculture and horticulture, construction, textiles, electrical and electronics, and other applications. The report also covers the market size and forecast for the bioplastics market in 15 countries across major regions. For each segment, the market sizing and prediction have been made based on volume (kiloton).
| Type | Bio-based Biodegradables | Starch-based |
| Polylactic Acid (PLA) | ||
| Polyhydroxy Alkanoates (PHA) | ||
| Polyesters (PBS, PBAT, and PCL) | ||
| Other Bio-based Biodegradables | ||
| Type | Bio-based Non-biodegradables | Bio Polyethylene Terephthalate (PET) |
| Bio Polyethylene | ||
| Bio Polyamides | ||
| Bio Polytrimethylene Terephthalate | ||
| Other Non-biodegradables | ||
| Application | Flexible Packaging | |
| Rigid Packaging | ||
| Automotive and Assembly Operations | ||
| Agriculture and Horticulture | ||
| Construction | ||
| Textiles | ||
| Electrical and Electronics | ||
| Other Applications | ||
| Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| Italy | ||
| France | ||
| Rest of Europe | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America | ||
| Geography | Middle-East and Africa | Saudi Arabia |
| South Africa | ||
| Rest of Middle-East and Africa |
Bioplastics Market Research FAQs
How big is the Bioplastics Market?
The Bioplastics Market size is expected to reach 2.09 million tons in 2024 and grow at a CAGR of 17.25% to reach 4.63 million tons by 2029.
What is the current Bioplastics Market size?
In 2024, the Bioplastics Market size is expected to reach 2.09 million tons.
Who are the key players in Bioplastics Market?
Braskem, Novamont SpA, NatureWorks LLC, Indorama Ventures Public Company Limited and Total Corbion PLA are the major companies operating in the Bioplastics Market.
Which is the fastest growing region in Bioplastics Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Bioplastics Market?
In 2024, the Europe accounts for the largest market share in Bioplastics Market.
What years does this Bioplastics Market cover, and what was the market size in 2023?
In 2023, the Bioplastics Market size was estimated at 1.78 million tons. The report covers the Bioplastics Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Bioplastics Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
What are the major trends in the Bioplastics Market?
The major trends in the Bioplastics Market are a) Increasing use of bioplastics in flexible packaging for food and beverages b) Growing demand for bioplastics in the automotive and electronics industries c) Development of new and more advanced bioplastic materials
What are the challenges facing the Bioplastics Market?
The challenges facing the Bioplastics Market are a) Higher cost compared to traditional plastics b) Limited production capacity and infrastructure c) Technical limitations of some bioplastics
Bioplastics Industry Report
The global bioplastics market is experiencing significant growth, driven by growing awareness of health and environmental concerns. This growth is primarily attributed to a rising demand for eco-friendly packaging solutions across various sectors such as consumer goods and food & beverages, along with advancements in composting infrastructure and governmental initiatives aimed at reducing landfill waste. The biodegradable plastics segment, which includes products like polylactic acid and starch blends, is leading the market due to its environmental benefits and wide availability. Non-biodegradable bioplastics, derived from renewable resources, are also gaining popularity for their use in disposables, automotive interiors, and electronics. The North American market is being propelled by a strong push for sustainability and eco-friendly products. Bioplastic manufacturers and bioplastics companies are actively expanding their product lines and market reach through strategic partnerships and capacity increases. The bioplastics industry, segmented by product, application, and region, identifies packaging applications and the automotive sector as significant growth drivers, owing to their demand for sustainable and lightweight materials. Statistics for the Bioplastics market share, size, and revenue growth rate, as reported by Mordor Intelligence™ Industry Reports, provide a comprehensive market forecast outlook and a historical overview available as a free report PDF download.
