According to Markets and Markets, the Biopolymers and Bioplastics Market size was USD 11.5 billion in 2022 and is projected to reach USD 27.3 billion by 2027, at a CAGR of 18.9%, between 2022 and 2027. Bioplastics are plastics made from substances that microbes, such as bacteria or genetically engineered plants, produce or derive from. Bioplastics can include natural polymers like silk, chitosan, and wool, as well as biopolymers like starch, cellulose, and alginate. Bio-plastics are produced using agricultural, human, and animal waste as well as plant and animal products. These bio-plastics are then recycled and used to create new products.

These materials are inferior to traditional plastics, which is why the quality of products in this sector is lower than those from other plastic product manufacturing firms. Bio-plastics enable longer-term storage of food products without refrigeration, and they still maintain their chemical properties. 

Biopolymers and Bioplastics Market Overview (2022-2027)

  • Forecast CAGR (2022-2027):18.9%
  • Forecast Market Size (2027): 27.3 billion

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The packaging industry is using bio-based materials, such as starch and vegetable waste crop by-products, to meet stringent environmental regulations. These materials are inferior to traditional plastics, which is why the quality of products in this sector is lower than those from other plastic product manufacturing firms. Bio-plastics enable longer-term storage of food products without refrigeration, and they still maintain their chemical properties. 

The market for bio-based materials is primarily driven by increasing consumer demand for plastic convenience and high-quality food products, increasing urban population, which boosts food adoption, increasing processed or stored food and packaged food consumption for consumers globally, increasing disposable income of eatable food, and multifunctionality of packaging. The market for bioplastics and biopolymers is expected to grow rapidly in the coming years, due to increasing disposable income and increased investment in cutting-edge technologies in industrialized nations, as well as the untapped market of developing economies.

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Biopolymers and Bioplastics Market Key Segments Covered

The MNM Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2030. This report contains statistics on product type segment growth estimates and forecasts.

By Type:

  • Biodegradable
  • Non-Biodegradable/Biobased

By Application:

  • Bottles
  • Fibers
  • Films
  • Medical Implants
  • Seed Coating
  • Vehicle Components

By End User:

  • Agriculture & Horticulture
  • Automotive & Transportation
  • Consumer Goods
  • Packaging
  • Textiles

By Region:

  • Asia-Pacific
  • Europe
  • Middle East & Africa
  • North America
  • Latin America

Europe accounted for third largest region, by value, during the forecast period

Europe accounts for a significant share in the bioplastics & biopolymers market due to the high consumer demand for sustainable packaging materials. The governments of the European countries are promoting the use of biodegradable plastics by setting up the infrastructure for composting of these plastics. The key companies producing biodegradable plastics in Europe include BASF (Germany), TotalEnergies Corbion PLA (Netherlands), Biome Bioplastics (UK), and Bio-On (Italy).

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The presence of multinational corporations in the area, who are seen to be heavily investing in research and development operations to develop high-quality, long-lasting, and affordable bio-based plastic goods, is primarily responsible for the rise of the regional markets. Companies like Covestro and Kaneka Corporation have developed patented methods to extract biopolymers and produce bioplastics for local markets.

Biopolymers and Bioplastics Market Key Players:

NatureWorks LLC (US), Braskem (Brazil), BASF SE (Germany), TotalEnergies Corbion (Netherlands), Novamont S.P.A (Italy), Biome Bioplastics Limited (UK), Mitsubishi Chemical Group Corporation (Japan), Biotec Biologische Naturverpackungen GmbH & Co. (Germany), Plantic Technologies Limited (Australia), and Toray Industries, Inc. (Japan) are the top players in the bioplastics & biopolymers market.  These players have adopted various growth strategies to expand their presence in the market. Acquisition & mergers and investment & expansion have been the leading strategies adopted by the major players in the last five years to strengthen their competitiveness and broaden their customer base in the global Bioplastics & Biopolymers market.

NatureWorks LLC is a global-leading biopolymers supplier and innovator. It is jointly owned by Cargill & PTT Global Chemical. It manufactures biopolymers derived from renewable resources such as corn, starch, and vegetable oils. The company’s product line includes 2 series for extrusion/ thermoforming, 3 series for injection molding, 4 series for films & cards, 6 series for fibers & nonwovens, and 3D series for 3D printing. The company serves beauty & household, building & construction, food service ware, electronics & appliances, food & beverage, landscape & agriculture, medical, and hygiene industry. The company operates in North America, Europe, Japan, and Asia Pacific. The manufacturing facilities are in Blair, Nebraska, and the USA and have capacity of 150,000 metric tons of Ingeo biopolymer.