GVR Report cover Bioplastics Market Size, Share & Trends Report

Bioplastics Market Size, Share & Trends Analysis Report By Product (Biodegradable, Non-biodegradable), By Application (Packaging, Agriculture, Consumer Goods), By Region, And Segment Forecasts, 2022 - 2030

  • Report ID: GVR-4-68038-587-8
  • Number of Pages: 107
  • Format: Electronic (PDF)

Report Overview

The global bioplastics market size was valued at USD 10.2 billion in 2021 and is expected to register a compound annual growth rate (CAGR) of 17.1% from 2022 to 2030. An increase in awareness regarding health issues coupled with an increasing population in emerging markets of Asia Pacific is expected to benefit end-use industries, resulting in increased demand for bioplastics over the forecast period. The market is moderately concentrated with the presence of various major players such as BASF SE, NatureWorks LLC, PTT MCC Biochem Co., Ltd., Total Corbion PLA, and Biome Technologies plc along with some small- and medium-sized global and regional players.

U.S. bioplastics market size, by product, 2020- 2030 (USD Billion)

The U.S. bioplastics market is expected to rise significantly over the forecast period on account of the growing demand for bio-based packaging in the food and consumer goods sectors. Bio bags and bio-based plastics have higher tensile strength and are eco-friendly. As a result, the demand for bioplastics is further projected to propel during the forecast period.

Moreover, expanding composting infrastructure and rising governmental efforts to reduce landfilling, such as the U.S. 2030 Food Loss and Waste Reduction Goal, are anticipated to augment the demand for bio-based bags or compostable bags used in the collection of food leftovers and other organic waste material over the forecast period.

Product Insights

Non-biodegradable plastics segment had a share of more than 47.0% in 2021 and is expected to maintain a healthy growth rate over the forecast period. Non-biodegradable plastics include polyethylene, polyethylene terephthalate, polyamide, polytrimethylene terephthalate, polypropylene, polyethylene furanoate, and polyvinyl chloride. These plastics are derived from sustainable raw materials such as sugarcane, corn, castor oil, and others.

Non-biodegradable bioplastics are majorly used in applications such as disposables, bottles, food packaging, carry bags, shopping bags, films, automotive interiors, consumer goods, and electronics. The growing inclination of major players toward sustainable products owing to rising demand from end-users and the rising need to reduce dependency on petroleum-based products are projected to drive the growth of the segment over the forecast period. Braskem, TORAY INDUSTRIES, INC., Arkema, and BASF SE are some of the manufacturers engaged in offering the above-mentioned products.

Biodegradable plastics include polylactic acid, starch blends, PBAT, PBS, PHA, polycaprolactone, and cellulose acetate. Among them, starch blends were the largest biodegradable product segment, in terms of revenue, in 2021. Starch-based plastics are produced from widely available natural resources such as potatoes, tapioca, wheat, rice, and corn. The abundant availability of resources makes starch blends an ideal alternative to conventional plastics.

Application Insights

With a revenue share of more than 62.0% in 2021, the packaging application topped the market. Bioplastics are widely used in packaging applications such as food & beverage packaging, personal care packaging, films & sheets, and household care products among others. Starch blends, PLA, PBAT, PET, PE, and PBS are some of the major bioplastics used for packaging. The inclination of consumers toward sustainable packaging and the rising landfill issue across the globe is compelling manufacturers to use bioplastics for packaging.

In the packaging industry, bioplastics are majorly used in food packaging applications. Bioplastics are widely utilized for manufacturing bottles, jars, and containers as well as for fresh food packaging. PLA plastic bottles are durable, disposable, and possess properties such as transparency and gloss. Polylactic acid can be easily composted as compared to petroleum-based products and it does not emit toxic gases during incineration. Thus, their demand for packaging is expected to remain significantly high over the forecast period.

Global bioplastics market share, by application, 2021 (%)

The demand for bioplastics in the agriculture sector is expected to grow significantly on account of the increasing focus on reducing environmental pollution and providing a conducive environment for composting. Biodegradable products are increasingly being utilized in nurseries and gardening owing to their superior properties such as promoting the growth of plant seedlings and preventing the rotting of fruits. This is expected to influence the expansion and increase the penetration of bioplastics in the agriculture sector.

Regional Insights

In 2021, Europe led the global market with a revenue share of more than 43.0%. Bioplastics are broadly used in various essential applications such as refuge bags, shopping bags, loose packaging, agricultural mulch films, and bottles among others. Approximately, 100 billion bags are used per year in the European Union. The general consumer acceptability of bioplastics is witnessing a rise across all the European countries. The market is further anticipated to be driven by the increasing acceptance of bioplastics in key end-use industries such as packaging, textiles, consumer goods, automotive & transportation, and medical devices among others.

The North American market is expected to be driven by the growing demand for bioplastics. Additionally, the regional market is characterized by the demand for sustainability, which has led to strong demand for sustainability in packaging as well. The overall demand for bioplastics in North America is also expected to be spurred by initiatives for promoting environmentally-friendly products by the U.S. Department of Agriculture.

Key Companies & Market Share Insights

Most of the key players operating in the market have integrated their raw material production and distribution operations to maintain product quality and expand their regional presence. This provides companies a competitive advantage in the form of cost benefits, thus increasing the profit margins. Companies are undertaking research and development activities to develop new industrial plastics to sustain market competition and changing end-user requirements. Research activities focused on the development of new materials, which combine several properties, are projected to gain wide acceptance in this industry in the coming years. Some of the prominent companies in the global bioplastics market are:

  • 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 

Bioplastics Market Report Scope

Report Attribute

Details

Market size value in 2022

USD 11.6 billion

Revenue forecast in 2030

USD 43.7 billion

Growth rate

CAGR of 17.1% from 2022 to 2030

Base year for estimation

2021

Historical data

2019 - 2020

Forecast period

2022 - 2030

Quantitative units

Volume in kilotons, revenue in USD million, and CAGR from 2022 to 2030

Report coverage

Volume forecast, revenue forecast, competitive landscape, growth factors, and trends

Segments covered

Product, application, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country Scope

U.S.; Canada; Mexico; Germany; U.K.; France; China; India; Japan; Brazil

Key companies profiled

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 PLA; SUPLA (JIANGSU SUPLA BIOPLASTICS CO., LTD.); Solvay

Customization scope

Free report customization (equivalent up to 8 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope

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Avail customized purchase options to meet your exact research needs. Explore purchase options

  

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2019 to 2030. For this study, Grand View Research has segmented the bioplastics market report based on product, application, and region:

  • Product Outlook (Volume, Kilotons; Revenue, USD Million, 2019 - 2030)

    • Biodegradable

      • Polylactic Acid

      • Starch blends

      • Polybutylene Adipate Terephthalate (PBAT)

      • Polybutylene Succinate (PBS)

      • Others

    • Non-biodegradable

      • Polyethylene

      • Polyethylene Terephthalate

      • Polyamide

      • Polytrimethylene Terephthalate

      • Others

  • Application Outlook (Volume, Kilotons; Revenue, USD Million, 2019 - 2030)

    • Packaging

    • Agriculture

    • Consumer goods

    • Textile

    • Automotive & Transportation

    • Building & Construction

    • Others

  • Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2019 - 2030)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • U.K.

      • France

    • Asia Pacific

      • China

      • India

      • Japan

    • Central & South America

      • Brazil

    • Middle East & Africa

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