Bioplastics & Biopolymers market size is expected to grow from USD 10.5 billion in 2020 and USD 27.9 billion by 2025, at a CAGR of 21.7%. The major factors driving the bioplastics & biopolymers industry include the focus of governments on green procurement policies and regulations and increasing use of bioplastics in the packaging end-use industry.
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Packaging is one of the end-use industries that dominate the bioplastics & biopolymers market. Bioplastics, and especially biodegradable bioplastics, have witnessed an increased demand to replace conventional plastics to address environmental concerns. The use of bioplastics is increasing in applications such as bottles, films, clamshell cartons, waste collection bags, carrier bags, mulch films, and food service-ware.
APAC is the fastest-growing bioplastics & biopolymers market.
APAC is the fastest-growing market for bioplastics & biopolymers, globally. The major end-user industries of bioplastics & biopolymers are packaging, consumer goods, automotive & transportation, and agriculture & horticulture. Industrialization, growing population, and urbanization of APAC are boosting the bioplastics & biopolymers market.
The bioplastics & biopolymers market comprises major players such as NatureWorks (Italy), Braskem (Brazil), BASF (Germany), Total Corbion (Netherlands), Novamont (Italy), Biome Bioplastics (UK), Mitsubishi Chemical Holding Corporation (Japan), Biotec (Germany), Toray Industries (Japan), and Plantic Technologies (Australia), Arkema (France), Cardia Bioplastics (Australia), Futerro (Belgium), FKUR Kunstsoff (Germany), Green Dot Bioplastics (US), PTT MCC Biochem (Thailand), Succinity (Germany), Synbra Technology (Netherland), Tianan Biologic Materials (China), and Zhejiang Hisun Biomaterials (China).