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Bioplastics Market Report Scope & Overview:

The Bioplastics Market size was valued at USD 11611 million in 2022 and is expected to grow to USD 46377.73 million by 2030 and grow at a CAGR of 18.9% over the forecast period of 2023-2030.

Bioplastics are materials made from renewable resources that can cut down on the amount of plastic trash produced globally. These renewable biomass materials, such as cellulose, plant starch, natural sugars, vegetable fats, and used cooking oils, are widely used to make these bio-based polymers. In addition, fresh sources like seaweeds, insects, and mammals are being studied for their potential. While not all are biodegradable, a significant portion can do so in a very short period of time, making them superior to traditional plastics.

Bioplastics Market Revenue Analysis

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The Corn, wheat, mastic, and sugarcane are some of the common feedstocks used to make bioplastics. Nearly all geographical areas of the world have easy access to these. The worldwide market's fluctuation in crude oil prices has no impact on the development of the bioplastics sector.

MARKET DYNAMICS

KEY DRIVERS:  

  • Demand for Biodegradable Plastics to Enhance Soil Quality

  • Rising Packaging Industry Demand for Eco-Friendly Plastics

Numerous industries have used biodegradable plastics, but the packaging business is where they are most frequently used because of their similar characteristics to conventional counterparts. In the coming years, a considerable amount of packing material is anticipated to be utilized due to a growth in e-commerce worldwide. Utilizing bio-based plastics can be a great approach to reduce environmental plastic pollution because they can easily replace conventional plastics.

RESTRAIN:

  • High Cost

OPPORTUNITY: 

  • Rising Utilization of Flexible Packaging

  • The government's increased focus on sustainability and supportive green procurement rules

The bio-based polymers have a wide range of applications. The market for bio-based polymers is anticipated to experience tremendous development opportunities in applications for consumer products due to the government's increased focus on sustainability and supportive green procurement rules. It is also anticipated that the packaging application will expand significantly. There are several uses for biodegradable mulch films in the agricultural sector. The use of bio-based polymers in goods like trays, cutlery, and cups for food packaging is crucial and extremely demanding.

CHALLENGES:

  • High demand from the automotive industry

  • Segregation and processing of bioplastic

IMPACT OF RUSSIA-UKRAINE WAR

The continuing conflict between Russia and Ukraine has decreased American exports of plastics to both nations, including resin, plastics machinery, plastics molds, and plastic goods. According to the data in the table below, year-to-date exports as of July were down more than 50 percent from the same time last year. Exports of American plastics to Russia fell by 62.4%, from $101.1 million to $38.0 million, and by 51.4%, from $21.3 million to $10.4 million to Ukraine. So far this year, exports of plastics machinery to the Ukraine and molds for plastics to Russia have ceased. U.S. plastics shipments to Russia increased by 8.1% in 2021. Exports of resin and plastic goods to Russia represented 46.4% and 47.1% of total exports, respectively. Exports of American plastics to Ukraine increased by 39.9%, with resin accounting for 77.2% of all exports in 2021. However, imports of US plastics from Russia fell by 16.8% while those from Ukraine rose by 19.1%.

IMPACT OF ONGOING RECESSION

The plastics production will also increase in 2021. Production decreased 0.6% from September but up 4.0% from October of the previous year. Shipments of plastic and rubber products climbed in September by 6.2% from a year ago and by 0.6% from August. In the last quarter of the year, sales of retail trade and food services, which use plastics products and packaging, got off to a good start. It grew 16.3% from October of last year and 1.7% from September. Expect a rise in sales as the busiest shopping period of the year approaches. In comparison to last year, PLASTICS predicts a 12.3% growth in retail sales (excluding food services).

KEY MARKET SEGMENTATION

By Product

By Application

    • Packaging

    • Agriculture

    • Consumer goods

    • Textile

    • Automotive & Transportation

    • Building & Construction

    • Others

Bioplastics Market Segmentation Analysis

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REGIONAL ANALYSIS

Europe dominated the global bioplastics market, with Germany, France, Italy, and the United Kingdom accounting for the majority of demand British Empire.

Germany's food and beverage business is distinguished by its approximately 6,000 small and medium-sized enterprise sector. In 2021, it was predicted that the food and beverage market would generate US$3,222 million in revenue. During the anticipated period, the market is anticipated to increase by 6.83% annually, propelling the nation's flexible and rigid packaging sector and the use of bioplastic. Another industry vertical that will drive the market is consumer goods due to the high living levels of the population, they favor higher-quality goods over lower-quality ones.

REGIONAL COVERAGE:

North America

  • US

  • Canada

  • Mexico

Europe

  • Eastern Europe

    • Poland

    • Romania

    • Hungary

    • Turkey

    • Rest of Eastern Europe

  • Western Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Netherlands

    • Switzerland

    • Austria

    • Rest of Western Europe

Asia Pacific

  • China

  • India

  • Japan

  • South Korea

  • Vietnam

  • Singapore

  • Australia

  • Rest of Asia Pacific

Middle East & Africa

  • Middle East

    • UAE

    • Egypt

    • Saudi Arabia

    • Qatar

    • Rest of Middle East

  • Africa

    • Nigeria

    • South Africa

    • Rest of Africa

Latin America

  • Brazil

  • Argentina

  • Colombia

  • Rest of Latin America

RECENT DEVELOPMENTS

  •  In July 2021, Solvay purchased the global coatings division of Bayer, which included facilities in Mereville, France, as well as tolling operations in Brazil and the United States. The company's selection of environmentally friendly and biodegradable products for farmers will expand as a result of this acquisition. All product lines, worldwide tolling operations, and R&D initiatives from the Mereville site have now been transferred entirely to Solvay.

  • Novamont and Iren inked a three-year collaboration agreement in the field of integrated waste collecting systems in March 2021. The agreement intends to implement the goals of a circular bio-economy and eliminate non-recyclable waste at source. Both businesses are dedicated to the creation of specialized projects to better the management of compostable goods and packaging, as well as their improvement and recovery, in addition to the organic in the Iren treatment plants, c of the solid waste is processed.

  • In January 2021, Novamont purchased the BioBag Group, a Norwegian business that created low-impact packaging solutions. With this acquisition, Novamont will be able to diversify its distribution network and reach new markets. Additionally, the two businesses have strengthened their connections with the key players, from big retailers to local communities, enabling them to provide the market with a more suitable and comprehensive choice of options.

KEY PLAYERS

The Major Players are TEVJIN LIMITED, TORAY INDUSTRIES, INC., Toyota Tsusho Corporation, Avantium, PTT MCC Biochem Co., Ltd., An Phat Holdings, NatureWorks LLC, SABIC, BASF SE, Futerro, Trinseo S.A., Braskem, Total Corbion PLAIR and other players are listed in a final report.

Toyota Tsusho Corporation-Company Financial Analysis

Company Landscape Analysis

Bioplastics Market Report Scope:

Report Attributes Details
Market Size in 2022  US$ 11611  Mn
Market Size by 2030  US$ 46377.73 Mn
CAGR   CAGR of 18.9 % From 2023 to 2030
Base Year  2022
Forecast Period  2023-2030
Historical Data  2020-2021
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By Product (Biodegradable, Non-biodegradable)
• By Application (Packaging, Agriculture, Consumer goods, Textile, Automotive & Transportation, Building & Construction, Others)
Regional Analysis/Coverage North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]). Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America)
Company Profiles TEVJIN LIMITED, TORAY INDUSTRIES, INC., Toyota Tsusho Corporation, Avantium, PTT MCC Biochem Co., Ltd., An Phat Holdings, NatureWorks LLC, SABIC, BASF SE, Futerro, Trinseo S.A., Braskem, Total Corbion PLAIR 
Key Drivers • Demand for Biodegradable Plastics to Enhance Soil Quality
• Rising Packaging Industry Demand for Eco-Friendly Plastics
Market Restraints • High Cost

 

Frequently Asked Questions

Ans: Bioplastics Market is anticipated to expand by 18.9 % from 2023 to 2030.

Ans: USD 46377.73 million is expected to grow by 2030.

Ans: Bioplastics Market size was valued at USD 11611 million in 2022

Ans: Europe is dominating the market.

Ans: Rising Utilization of Flexible Packaging and the government's increased focus on sustainability and supportive green procurement rules

TABLE OF CONTENTS

1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions

2. Research Methodology

3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges

4. Impact Analysis
4.1 Impact of the Russia-Ukraine War
4.2 Impact of Ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World

5. Value Chain Analysis

6. Porter’s 5 forces model

7. PEST Analysis

8. Bioplastics Market Segmentation, By Product
8.1Biodegradable
8.1.1 Polylactic Acid
8.1.2Starch Blends
8.1.3 Polybutylene Adipate Terephthalate (PBAT)
8.1.4 Polybutylene Succinate (PBS)
8.1.5Others
8.2Non-biodegradable
8.2.1Polyethylene
8.2.2Polyethylene Terephthalate
8.2.3Polyamide
8.2.4Polytrimethylene Terephthalate
8.2.5Others

9. Bioplastics Market Segmentation, By Application
9.1Textile
9.2Packaging
9.3Agriculture
9.4Consumer goods
9.5Automotive & Transportation
9.6Building & Construction
9.7Others

10. Regional Analysis
10.1 Introduction
10.2 North America
10.2.1 North America Bioplastics Market by Country
10.2.2North America Bioplastics Market by Product
10.2.3 North America Bioplastics Market by Application
10.2.4 USA
10.2.4.1 USA Bioplastics Market by Product
10.2.4.2 USA Bioplastics Market by Application
10.2.5 Canada
10.2.5.1 Canada Bioplastics Market by Product
10.2.5.2 Canada Bioplastics Market by Application
10.2.6 Mexico
10.2.6.1 Mexico Bioplastics Market by Product
10.2.6.2 Mexico Bioplastics Market by Application
10.3 Europe
10.3.1 Eastern Europe
10.3.1.1 Eastern Europe Bioplastics Market by Country
10.3.1.2 Eastern Europe Bioplastics Market by Product
10.3.1.3 Eastern Europe Bioplastics Market by Application
10.3.1.4 Poland
10.3.1.4.1 Poland Bioplastics Market by Product
10.3.1.4.2 Poland Bioplastics Market by Application
10.3.1.5 Romania
10.3.1.5.1 Romania Bioplastics Market by Product
10.3.1.5.2 Romania Bioplastics Market by Application
10.3.1.6 Hungary
10.3.1.6.1 Hungary Bioplastics Market by Product
10.3.1.6.2 Hungary Bioplastics Market by Application
10.3.1.7 Turkey
10.3.1.7.1 Turkey Bioplastics Market by Product
10.3.1.7.2 Turkey Bioplastics Market by Application
10.3.1.8 Rest of Eastern Europe
10.3.1.8.1 Rest of Eastern Europe Bioplastics Market by Product
10.3.1.8.2 Rest of Eastern Europe Bioplastics Market by Application
10.3.2 Western Europe
10.3.2.1 Western Europe Bioplastics Market by Country
10.3.2.2 Western Europe Bioplastics Market by Product
10.3.2.3 Western Europe Bioplastics Market by Application
10.3.2.4 Germany
10.3.2.4.1 Germany Bioplastics Market by Product
10.3.2.4.2 Germany Bioplastics Market by Application
10.3.2.5 France
10.3.2.5.1 France Bioplastics Market by Product
10.3.2.5.2 France Bioplastics Market by Application
10.3.2.6 UK
10.3.2.6.1 UK Bioplastics Market by Product
10.3.2.6.2 UK Bioplastics Market by Application
10.3.2.7 Italy
10.3.2.7.1 Italy Bioplastics Market by Product
10.3.2.7.2 Italy Bioplastics Market by Application
10.3.2.8 Spain
10.3.2.8.1 Spain Bioplastics Market by Product
10.3.2.8.2 Spain Bioplastics Market by Application
10.3.2.9 Netherlands
10.3.2.9.1 Netherlands Bioplastics Market by Product
10.3.2.9.2 Netherlands Bioplastics Market by Application
10.3.2.10 Switzerland
10.3.2.10.1 Switzerland Bioplastics Market by Product
10.3.2.10.2 Switzerland Bioplastics Market by Application
10.3.2.11 Austria
10.3.2.11.1 Austria Bioplastics Market by Product
10.3.2.11.2 Austria Bioplastics Market by Application
10.3.2.12 Rest of Western Europe
10.3.2.12.1 Rest of Western Europe Bioplastics Market by Product
10.3.2.12.2 Rest of Western Europe Bioplastics Market by Application
10.4 Asia-Pacific
10.4.1 Asia Pacific Bioplastics Market by Country
10.4.2 Asia Pacific Bioplastics Market by Product
10.4.3 Asia Pacific Bioplastics Market by Application
10.4.4 China
10.4.4.1 China Bioplastics Market by Product
10.4.4.2 China Bioplastics Market by Application
10.4.5 India
10.4.5.1 India Bioplastics Market by Product
10.4.5.2 India Bioplastics Market by Application
10.4.6 Japan
10.4.6.1 Japan Bioplastics Market by Product
10.4.6.2 Japan Bioplastics Market by Application
10.4.7 South Korea
10.4.7.1 South Korea Bioplastics Market by Product
10.4.7.2 South Korea Bioplastics Market by Application
10.4.8 Vietnam
10.4.8.1 Vietnam Bioplastics Market by Product
10.4.8.2 Vietnam Bioplastics Market by Application
10.4.9 Singapore
10.4.9.1 Singapore Bioplastics Market by Product
10.4.9.2 Singapore Bioplastics Market by Application
10.4.10 Australia
10.4.10.1 Australia Bioplastics Market by Product
10.4.10.2 Australia Bioplastics Market by Application
10.4.11 Rest of Asia-Pacific
10.4.11.1 Rest of Asia-Pacific Bioplastics Market by Product
10.4.11.2 Rest of Asia-Pacific APAC Bioplastics Market by Application
10.5 Middle East & Africa
10.5.1 Middle East
10.5.1.1 Middle East Bioplastics Market by Country
10.5.1.2 Middle East Bioplastics Market by Product
10.5.1.3 Middle East Bioplastics Market by Application
10.5.1.4 UAE
10.5.1.4.1 UAE Bioplastics Market by Product
10.5.1.4.2 UAE Bioplastics Market by Application
10.5.1.5 Egypt
10.5.1.5.1 Egypt Bioplastics Market by Product
10.5.1.5.2 Egypt Bioplastics Market by Application
10.5.1.6 Saudi Arabia
10.5.1.6.1 Saudi Arabia Bioplastics Market by Product
10.5.1.6.2 Saudi Arabia Bioplastics Market by Application
10.5.1.7 Qatar
10.5.1.7.1 Qatar Bioplastics Market by Product
10.5.1.7.2 Qatar Bioplastics Market by Application
10.5.1.8 Rest of Middle East
10.5.1.8.1 Rest of Middle East Bioplastics Market by Product
10.5.1.8.2 Rest of Middle East Bioplastics Market by Application
10.5.2 Africa
10.5.2.1 Africa Bioplastics Market by Country
10.5.2.2 Africa Bioplastics Market by Product
10.5.2.3 Africa Bioplastics Market by Application
10.5.2.4 Nigeria
10.5.2.4.1 Nigeria Bioplastics Market by Product
10.5.2.4.2 Nigeria Bioplastics Market by Application
10.5.2.5 South Africa
10.5.2.5.1 South Africa Bioplastics Market by Product
10.5.2.5.2 South Africa Bioplastics Market by Application
10.5.2.6 Rest of Africa
10.5.2.6.1 Rest of Africa Bioplastics Market by Product
10.5.2.6.2 Rest of Africa Bioplastics Market by Application
10.6 Latin America
10.6.1 Latin America Bioplastics Market by Country
10.6.2 Latin America Bioplastics Market by Product
10.6.3 Latin America Bioplastics Market by Application
10.6.4 Brazil
10.6.4.1 Brazil Bioplastics Market by Product
10.6.4.2 Brazil Africa Bioplastics Market by Application
10.6.5 Argentina
10.6.5.1 Argentina Bioplastics Market by Product
10.6.5.2 Argentina Bioplastics Market by Application
10.6.6 Colombia
10.6.6.1 Colombia Bioplastics Market by Product
10.6.6.2 Colombia Bioplastics Market by Application
10.6.7 Rest of Latin America
10.6.7.1 Rest of Latin America Bioplastics Market by Product
10.6.7.2 Rest of Latin America Bioplastics Market by Application

11 Company Profile
11.1 TEVJIN LIMITED
11.1.1 Company Overview
11.1.2 Financials
11.1.3 Product/Services Offered
11.1.4 SWOT Analysis
11.1.5 The SNS View
11.2 TORAY INDUSTRIES, INC.
11.2.1 Company Overview
11.2.2 Financials
11.2.3 Product/Services Offered
11.2.4 SWOT Analysis
11.2.5 The SNS View
11.3 Toyota Tsusho Corporation
11.3.1 Company Overview
11.3.2 Financials
11.3.3 Product/Services Offered
11.3.4 SWOT Analysis
11.3.5 The SNS View
11.4 Avantium
11.4 Company Overview
11.4.2 Financials
11.4.3 Product/Services Offered
11.4.4 SWOT Analysis
11.4.5 The SNS View
11.5 PTT MCC Biochem Co., Ltd.
11.5.1 Company Overview
11.5.2 Financials
11.5.3 Product/Services Offered
11.5.4 SWOT Analysis
11.5.5 The SNS View
11.6 An Phat Holdings
11.6.1 Company Overview
11.6.2 Financials
11.6.3 Product/Services Offered
11.6.4 SWOT Analysis
11.6.5 The SNS View
11.7 NatureWorks LLC
11.7.1 Company Overview
11.7.2 Financials
11.7.3 Product/Services Offered
11.7.4 SWOT Analysis
11.7.5 The SNS View
11.8 SABIC
11.8.1 Company Overview
11.8.2 Financials
11.8.3 Product/Services Offered
11.8.4 SWOT Analysis
11.8.5 The SNS View
11.9 BASF SE
11.9.1 Company Overview
11.9.2 Financials
11.9.3 Product/ Services Offered
11.9.4 SWOT Analysis
11.9.5 The SNS View
11.10 Futerro
11.10.1 Company Overview
11.10.2 Financials
11.10.3 Product/Services Offered
11.10.4 SWOT Analysis
11.10.5 The SNS View
11.11 Trinseo S.A.
11.11.1 Company Overview
11.11.2 Financials
11.11.3 Product/Services Offered
11.11.4 SWOT Analysis
11.11.5 The SNS View
11.12 Braskem
11.12.1 Company Overview
11.12.2 Financials
11.12.3 Product/Services Offered
11.12.4 SWOT Analysis
11.12.5 The SNS View
11.13 Total Corbion PLAIR
11.13.1 Company Overview
11.13.2 Financials
11.13.3 Product/Services Offered
11.13.4 SWOT Analysis
11.13.5 The SNS View

12. Competitive Landscape
12.1 Competitive Benchmarking
12.2 Market Share Analysis
12.3 Recent Developments
12.3.1 Industry News
12.3.2 Company News
12.3.3 Mergers & Acquisitions

13. USE Cases and Best Practices

14. Conclusion

An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.

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The 5 steps process:

Step 1: Secondary Research:

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Secondary Research

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Primary Research

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Data Bank Validation

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