Bioplastics Market Poised for Exponential Growth Amid Global Push for Sustainability

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Bioplastics Biopolymers Market worth
45.2 billion by 2029 - Exclusive Report by
MarketsandMarkets
NEWS PROVIDED BY MarketsandMarkets ? 16 Apr,
2024, 1015 GMT
CHICAGO, April 16, 2024 /PRNewswire/ -- The
report "Bioplastics Biopolymers Market by
Product Type (Biodegradable, Non-Biodegradable/
Bio-Based), End-Use Industry (Packaging, Consumer
Goods, Textiles, Agriculture Horticulture, AnT,
Coatings Adhesives), Region- Global Forecast
to 2029", was USD 15.3 billion in 2024 and is
projected to reach USD 45.2 billion by 2029, at a
CAGR of 24.2, between 2024 and 2029.
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Bioplastics are synthetic materials sourced from
renewable origins like corn, potatoes, rice, soy,
sugarcane, wheat, and vegetable oil, whereas
biopolymers are polymers found naturally.
Bioplastics can either degrade naturally or not.
They are primarily classified into biodegradable
and non-biodegradable categories and are used
across a wide range of industries including
packaging, consumer goods, automotive and
transportation, agriculture and horticulture,
medical, and various other sectors. Browse
in-depth TOC on "Bioplastics Biopolymers Market"
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261 Tables 54 Figures 318 Pages Download
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fdownloadNew.asp?id88795240 PBAT is estimated
to be the second largest market in the global
bioplastics biopolymers market, by product
type, during the forecast period, by Value. PBAT
(Polybutylene adipate terephthalate) is a
biodegradable polyester widely used in the
production of bioplastics and biopolymers. It
offers excellent biodegradability in various
environments, including industrial composting
facilities and natural soil conditions. PBAT is
commonly used as a component in blends with other
biodegradable polymers to improve mechanical
properties and enhance the overall performance of
bioplastic materials. Its versatility, along with
its ability to break down into environmentally
friendly byproducts, makes PBAT a valuable
ingredient in the development of sustainable
packaging, agricultural films, disposable
utensils, and other biodegradable products. As
the demand for eco-friendly alternatives to
traditional plastics grows, PBAT continues to
play a crucial role in advancing the bioplastics
and biopolymers industry. Sugarcane/Sugar beet
to be the largest market in the global
bioplastics biopolymers market during 2024 to
2029, by value. Sugarcane and sugar beet serve
as vital sources of raw materials for bioplastics
and biopolymers, offering abundant stores of
fermentable sugars essential for producing
eco-friendly plastics like polylactic acid (PLA)
and polyhydroxyalkanoates (PHA). Their widespread
cultivation globally provides a sustainable and
renewable feedstock for biopolymer manufacturing,
without competing with food crops for
agricultural land. Additionally, their growth
contributes to carbon sequestration, enhancing
the environmental profile of bioplastics derived
from these sources by mitigating carbon
emissions. Leveraging sugarcane and sugar beet
underscores the shift towards sustainable
practices in the plastics industry, promoting
environmental stewardship and reducing reliance
on fossil fuels. Request Sample Pages
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.asp?id88795240 Consumer goods is estimated to
be the second-largest end-use industry, in 2024.
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Consumer goods encompasses a wide range of
products including packaging, disposable cutlery,
bottles, bags, and various other items used in
everyday life. The demand for sustainable
packaging solutions is particularly high in the
consumer goods industry due to increasing
environmental awareness among consumers and
regulatory pressures to reduce plastic waste.
Bioplastics offer a promising alternative as they
are derived from renewable resources and can be
biodegradable, thereby addressing concerns
related to traditional plastics. As a result,
many companies in the consumer goods sector are
incorporating bioplastics into their product
packaging and manufacturing processes to reduce
their environmental footprint and meet the
evolving preferences of eco-conscious
consumers. Europe accounted for third largest
region, by value, during the forecast
period. The bioplastics and biopolymers market
in Europe is experiencing growth and innovation.
With increasing awareness of environmental issues
and sustainable practices, there's a notable
emphasis on the adoption of bioplastics derived
from renewable sources. European countries are
investing in research and development to expand
the application of bioplastics across various
industries including packaging, consumer goods,
automotive, agriculture, and more. Additionally,
stringent regulations and initiatives promoting
the use of eco-friendly materials are driving the
demand for bioplastics and biopolymers in the
region. The key companies producing biodegradable
plastics in Europe include BASF (Germany),
TotalEnergies Corbion PLA (Netherlands), Biome
Bioplastics (UK), and Bio-On (Italy). 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 key players in the bioplastics
biopolymers market. Browse Adjacent Market Green
Bio Chemicals Market Research Reports
Consulting Biodegradable Plastics Market - Global
Forecast to 2028 Sustainable Plastic Packaging
Market - Global Forecast to 2025 About
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