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LONDON, GREATER LONDON, UNITED KINGDOM, June 5, 2025 /EINPresswire.com/ -- The Business Research Company’s Latest Report Explores Market Driver, Trends, Regional Insights - Market Sizing & Forecasts Through 2034
What Is The Projected Market Size Of The Bioplastics Market?
The bioplastics market has seen robust growth in recent years, advancing from $10.84 billion in 2024 to an expected $12.79 billion in 2025. This constitutes an 18% compound annual growth rate CAGR. Several foundations drive this growth: escalating environmental concerns, strict government regulations, soaring oil prices, consumer preference for eco-friendly products, and a surge in demand for sustainable packaging.
What Does The Future Hold For The Bioplastics Market?
By 2029, projections suggest the bioplastics market size will achieve an estimated worth of $24.11 billion, maintaining a CAGR of 17.2%. Contributing factors for this foreseen growth include an expanding food and beverage industry, a growing automotive sector, global trade agreements, and emerging market expansions. Experimental feedstock sourcing, bio-based materials for durables, industry collaboration, and a focus on carbon neutrality are seen as significant trends in the forecast period.
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What's Sparking The Growth Of The Bioplastics Market?
A prevalent driving force in this field is the increasing awareness of the importance of bioplastics. A global rise in consciousness regarding the negative effects of pollution caused by plastic manufacture and disposal has sparked a shift toward bioplastics. Plastic waste in oceans is predicted to triple to 29 million metric tonnes by 2040 if unchecked, according to a study by Pew Charitable Trusts and SYSTEMIQ, Ltd. This highlights the pressing need for sustainability-oriented consumer habits. For instance, an Ipsos Global Survey on attitudes towards single-use plastics in 2022 revealed that 83% of urban Indians - at least 8 in 10 - would prefer a complete ban on single-use plastics SUP. This surge in awareness is expected to encourage customers towards bioplastics, setting the wheels of the bioplastics market in motion.
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Who Are The Key Players In The Bioplastics Market?
The bioplastics market is championed by major companies such as BASF SE, Corbion NV, Danimer Scientific Inc., Mitsubishi Chemical Holdings Corporation, Novamont S.p.A., Eastman Chemical Company, Futamura Group, Neste Oyj, NatureWorks LLC, and Polymateria Ltd, to name a few.
Do We Foresee Any Emerging Trends?
Investments in environmentally friendly bioplastics are on the rise. These bioplastics are produced from renewable and biodegradable resources like proteins, starch, and polylactic acid PLA. An increase in available products and suppliers in recent years has led to the heightened use of bioplastics in global commercial markets. Vikas Ecotech Limited, for example, announced plans in January 2022 to invest in BioPlastics PHA technology, a final stage of formalising a technology tie-up/Joint Venture with Aurapha Private Ltd. 'AuraPHA' to produce biodegradable plastics.
How Is The Bioplastics Market Segmented?
The report segments the bioplastics market as follows:
1 By Type: Biodegradable, Non-Biodegradable
2 By Distribution Channel: Online, Offline
3 By Application: Rigid Packaging, Flexible Packaging, Textile, Agriculture And Horticulture, Consumer Goods, Automotive, Electronics, Building And Construction, Other Applications
Subsegments:
1 By Biodegradable: Starch-Based Bioplastics, Polylactic Acid PLA, Polyhydroxyalkanoates PHA, Cellulose-Based Bioplastics
2 By Non-Biodegradable: Bio-Based Polyethylene Bio-PE, Bio-Based Polyethylene Terephthalate Bio-PET, Bio-Based Polypropylene Bio-PP, Bio-Based Nylon
What Is The Regional Landscape Of The Bioplastics Market?
As of 2024, Asia-Pacific emerged as the largest region in the bioplastics market and is expected to retain the fastest growth rate during the forecast period. The report also covers other regions such as Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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