Dublin, March 09, 2023 (GLOBE NEWSWIRE) -- The "Bioplastics and Biopolymers: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Bioplastics and Biopolymers Market to Reach $34.3 Billion by 2030
The global market for Bioplastics and Biopolymers estimated at US$11.3 Billion in the year 2022, is projected to reach a revised size of US$34.3 Billion by 2030, growing at a CAGR of 14.9% over the analysis period 2022-2030.
Non-Biodegradable, one of the segments analyzed in the report, is projected to record 15.6% CAGR and reach US$21.2 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Biodegradable segment is readjusted to a revised 13.7% CAGR for the next 8-year period.
The U.S. Market is Estimated at $3.1 Billion, While China is Forecast to Grow at 19.8% CAGR
The Bioplastics and Biopolymers market in the U.S. is estimated at US$3.1 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$8.3 Billion by the year 2030 trailing a CAGR of 19.8% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 10% and 12.5% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 11.7% CAGR.
Looking Ahead to 2023
The global economy is at a critical crossroads with a number of interlocking challenges and crises running in parallel.
Lower capital expenditure is in the offing as companies go slow on investments, held back by inflation worries and weaker demand. With slower growth and high inflation, developed markets seem primed to enter into a recession. Fears of new COVID outbreaks and China's already uncertain post-pandemic path poses a real risk of the world experiencing more acute supply chain pain and manufacturing disruptions this year.
Volatile financial markets, growing trade tensions, stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced. Year 2023 is expected to be tough year for most markets, investors and consumers. Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.
What`s New for 2023?
- Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and Research Platform
- Complimentary updates for one year
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 524 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $11.3 Billion |
| Forecasted Market Value (USD) by 2030 | $34.3 Billion |
| Compound Annual Growth Rate | 14.9% |
| Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Impact of Covid-19 and a Looming Global Recession
- Biopolymers and Bioplastics; An Answer to the Growing Plastic Waste Menace
- Petroleum-based Plastics Vs Bioplastics
- Classification of Biopolymers and Bioplastics
- Bio-based and Non-biodegradable Polymers Register Strong Growth
- Packaging: The Dominant Application Market
- Europe Continues to Hold Ground as the Largest Market for Biodegradable Polymers
- North America: Another Major Market
- Asia-Pacific to Spearhead Future Growth
- A Glance at Major Applications of Bioplastics
- Impact of Plastic Ban Augers Well for Bioplastics & Biopolymers Market
- Competitive Landscape
- Biodegradable Plastic Brands of Select Manufacturers
- Recent Market Activity
- Capacity Expansions to Boost Bioplastics Market
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
- Global Production Landscape
MARKET TRENDS & DRIVERS
- Increased Adoption of Bioplastics-based Materials by Prominent Players to Sustain Demand
- Bioplastics from Agro-Wastes Gain Demand for Food Packaging Applications
- Food Industry to Curb Plastic Waste, Make Use of Organic Waste for Biopolymer Production
- Increased Focus on Sustainable Production
- Industry Witnesses Increasing Number of Startups Joining the Race
- Key Recent Environment-Friendly Bioplastic Innovations
- Expanding Range of Applications for Biopolymers Drives Market Growth
- Polylactic Acid (PLA): A Promising Biodegradable Polymer
- Packaging Applications Lead PLA Consumption
- Bio-Polylactic Acid (PLA) Films Market: A High-Growth Market
- Starch Blended Biodegradable Polymers: Expanding Applications Fuel Growth
- Bio-based Polypropylene to Garner Demand
- Industrial Usage of Bio-based, Biodegradable Plastics on Rise
- Automakers Move towards Bioplastics to Quell Environmental Concerns
- Trend towards Green Food Packaging Augurs Well for Biodegradable Polymers Market
- Nanotechnology to Improve Degradability of Packaging Material
- Growing Use of Bioabsorbable Polymers in the Healthcare Space
- Biodegradable Polymers in Nano Drugs: A Growing Market
- Biodegradable Circuitry to Address Concerns over Growing E-Waste
- Navigating the Fast-Changing Landscape of Bioplastics and Biomaterials
- Historical Note on Bioplastics
FOCUS ON SELECT PLAYERS (Total 80 Featured)
- Arkema SA (France)
- BASF SE (Germany)
- BIOTEC GmbH & Co. KG (Germany)
- Braskem (Brazil)
- Good Natured Products, Inc. (Canada)
- Kingfa Sci. & Tech. Co., Ltd. (China)
- Mitsubishi Chemical Corporation (Japan)
- NatureWorks LLC (USA)
- Novamont SpA (Italy)
- Plantic Technologies Limited (Australia)
- Total Corbion PLA (Netherlands)
For more information about this report visit https://www.researchandmarkets.com/r/uka12v
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