Global bioplastics & biopolymers market is expected to reach USD 7.2 billion by 2025, from USD 3.1 billion in 2017 growing at a CAGR of 12.0% during the forecast period of 2018 to 2025. The global bioplastics & biopolymers market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market.
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Bioplastics & biopolymers are the types of plastic and polymers which are obtained from renewable biomass sources such as vegetable oils and fats. The above factor proves that the awareness regarding bioproducts around the globe is growing and will drive the demand for bioplastics & biopolymers. The key players operating in the global bioplastics & biopolymers market are –
Indorama Ventures Public Company Limited
Biome Technologies PLC
BioBag Americas, Inc
Cedar Grove Composting, Inc
Eco-gecko Products Inc
Ultra Green Sustainable Packaging, among others.
The report includes bioplastics & biopolymers market shares, major drivers and restrains, key trends and demand, key challenges and opportunities, growth of the market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Bioplastics & biopolymers are used in packaging industries on a large scale. To expand the application of bioplastic, manufacturers are investing in research and development.
The strict regulation set by the government and rising consumer awareness regarding the environment may promote the global bioplastics & biopolymers market in a positive way.
The bioplastics & biopolymers market report contains data for historic years 2015 & 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
According to British Plastic Federation , plastic arising in the U.K. is 3.7 million tonnes out of which 32.0% is recycled and 70.0% is recovered. It also stated that U.K. has a plastic packaging recycling target of 57.0% by 2020.
As per the National Institute of Chemistry, in 2010, 265 million tons of plastic produced in the world out of which 57 million is in Europe, in the same year 724,500 tons of bioplastics were produced in the world which is a very small portion in comparison with conventional plastics produced and bioplastics & biopolymers is predicted to reach 1 million tons in few years’ time.
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Strict government regulations for conventional plastics and promotion to use bioplastic
Growing investment in R&D by the manufacturer to expand the application of bioplastic.
High demand from packaging industry.
Price of bioplastics is high in comparison to conventional plastics.
Conventional plastics are better in performance than Bioplastic.
By End User
Rest of Europe
Rest of Asia Pacific
Rest of South America
Middle East & Africa
Rest of MEA
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