Global Bioplastics & Biopolymers Market Expected to Reach USD 17.62 Billion By 2024: Zion Market Research

According to the report, the global bioplastics & biopolymers market was valued at approximately USD 6.05 billion in 2017 and is expected to generate revenue of around USD 17.62 billion by the end of 2024, growing at a CAGR of around 16.5% between 2018 and 2024.

New York, NY, Dec. 05, 2018 (GLOBE NEWSWIRE) — Zion Market Research has published a new report titled “Bioplastics & Biopolymers Market by Material Type (Regenerated Cellulose, Bio-polyethylene (Bio-PE), Starch Blends, Bio-Polyethylene Terephthalate (Bio-PET), Biodegradable Polyester, Polyhydroxyalkanoates (PHA), and Polylactic Acid (PLA)) and by Application (Agriculture, Consumer Products, Packaging, Automotive, Bottles, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017–2024”. According to the report, the global bioplastics & biopolymers market was valued at approximately USD 6.05 billion in 2017 and is expected to generate revenue of around USD 17.62billion by the end of 2024, growing at a CAGR of around 16.5% between 2018 and 2024.

The extensive use of bioplastics and biopolymers as consumer products is likely to drive the global bioplastics & biopolymers market growth in the forecast timeframe. Plastic has become an essential part of our day-to-day lives. Large amounts of plastic wastes are generated across the world, which mostly comes from household and industries, such as packaging, electronics, automobile, construction, and agriculture. Various organizations, such as the packaging and Packaging Waste Directive, Waste Framework Directive, and the European Environment Agency, have taken the initiatives to recycle plastic and recover energy. These factors are expected to increase the demand for bioplastics and biopolymers that are biodegradable and environment-friendly in nature.

Browse through 112 Tables & 52 Figures spread over 110 Pages and in-depth TOC on “Global Bioplastics & Biopolymers Market: Industry Size, Share, Trends, Segments, Analysis and Forecast, 2017–2024”.

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The concept of smart buildings, smart cities, and connected cities are expected to positively impact the bioplastics & biopolymers market in the upcoming years. Owing to the concept of smart buildings and smart cities, there is a huge demand for bioplastics and biopolymers across water and waste management sectors as well as renewable energy management sector. Furthermore, raising awareness among consumers regarding plastic waste management along with strict laws governing plastic waste management across the world has also increased the demand for bioplastics and biopolymers globally. However, the high prices of bioplastics might restrain the bioplastics & biopolymers market growth in the upcoming years. 

By material type, the bioplastics & biopolymers market is fragmented into regenerated cellulose, bio-polyethylene (Bio-PE), starch blends, bio-polyethylene terephthalate (Bio-PET), biodegradable polyester, polyhydroxyalkanoates (PHA), and Polylactic Acid (PLA). Bio-PET accounted for the highest revenue share in 2017, due to the growing demand from various end-use industries, such as packaging and bottling. Moreover, the rising consumption of beverages among people is also expected to further drive the growth of this segment in the upcoming years.  

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By application, the bioplastics & biopolymers market is segmented into agriculture, consumer products, packaging, automotive, bottles, and others. Packaging segment accounted for the highest revenue share in 2017, due to the increasing demand for sustainable solutions from various industry verticals, such as food and beverages, automotive, etc. Moreover, the enhanced industrial and manufacturing technologies have enabled the food and beverage industries to integrate bioplastics in packaging. These factors are expected to further drive the growth of the packaging segment in the upcoming years. 

Europe accounted for substantial revenue share in the global bioplastics & biopolymers market in 2017, due to the presence of major industry players in the region that are highly engaged in providing environment-friendly and cost-effective bioplastics and biopolymers. Moreover, the rapid increment in the health-conscious population coupled with stringent government regulations in the region is likely to increase the demand for bioplastics and biopolymers in Europe.

Browse the full “Bioplastics & Biopolymers Market by Material Type(Regenerated Cellulose, Bio-polyethylene (Bio-PE), Starch Blends, Bio-Polyethylene Terephthalate (Bio-PET), Biodegradable Polyester, Polyhydroxyalkanoates (PHA), and Polylactic Acid (PLA)) and by Application (Agriculture, Consumer Products, Packaging, Automotive, Bottles, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017–2024” report at https://www.zionmarketresearch.com/report/bioplastics-biopolymers-market

The North American bioplastics & biopolymers market held a significant revenue share in 2017, owing to the rising awareness among people regarding waste management and the implementation of regulations to limit carbon dioxide emissions. Furthermore, various government initiatives in the U.S. pertaining to plastic waste management are anticipated to fuel the bioplastics & biopolymers market growth in the North American region in the forecast timeframe.

The Asia Pacific bioplastics & biopolymers market is predicted to register the highest growth rate in the forecast time period. This regional market’s growth is projected in China, Japan, and India. Increasing government initiatives for waste management in the region is expected to drive industry growth. India launched the Swachh Bharat campaign to decrease the amount of garbage produced in the country.

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The Latin American bioplastics & biopolymers market is predicted to record substantial growth in the forecast time period. This growth can be attributed to the rising middle-class population coupled with a growing need for personal care goods. The growing consumption of packaged foods in Latin America is expected to positively impact the packaging industry growth, which, in turn, is likely to drive the bioplastics & biopolymers market growth in the Latin American region in the forecast time period.

The Middle East and Africa are anticipated to be the lucrative market in the forecast timeframe. Increasing demand for packaged foods and rising investments made in research and development activities in the food processing industries are foremost factors expected to drive the bioplastics & biopolymers market growth in the Middle Eastern and African region in the forecast timeframe. In Saudi Arabia, food processing has developed in the past decade, which is predicted to positively impact the industry growth in the upcoming years.

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Some key players operating in the bioplastics&biopolymers market includeCorbion NV, Arkema, BASF SE, KURARAY, Eastman Chemical Company, Novamont, NatureWorks LLC, Celanese Corporation, Metabolix Holdings, and Braskem S.A., among others.

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This report segments the global bioplastics & biopolymers market as follows:

Global Bioplastics & Biopolymers Market: Material Type Segment Analysis

• Regenerated Cellulose
• Bio-polyethylene (Bio-PE)
• Starch Blends
• Bio-Polyethylene terephthalate (Bio-PET)
• Biodegradable Polyester
• Polyhydroxyalkanoates (PHA)
• Polylactic Acid (PLA)

Global Bioplastics & Biopolymers Market: Application Segment Analysis

• Agriculture
• Consumer Products
• Packaging
• Automotive
• Bottles
• Others

Global Bioplastics & Biopolymers Market: Regional Segment Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa

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