AMR Logo.png
Source : Allied Market Research

Bioplastic Market Size to Reach $13.1 Billion by 2027 | CAGR: 13.8%: AMR

High acceptance among consumers due to environment friendliness, supportive government policies, and renewable sources of raw materials drive the growth of the global bioplastic market. Asia-Pacific contributed to the largest market share in 2019, and is expected to maintain its lead position during the forecast period. Governments have encouraged the usage of bioplastics and developed regulations regarding disposable and single use plastics to curb the spread of the Covid-19.

Portland, OR, Nov. 19, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global bioplastic market generated $4.6 billion in 2019, and is estimated to generate $13.1 billion by 2027, registering a CAGR of 13.8% from 2020 to 2027. The report provides a detailed analysis of changing market trends, top winning strategies, key segments, major investment pockets, Porter’s Five Forces, and competitive landscape.

High acceptance among consumers due to environment friendliness, supportive government policies, and renewable sources of raw materials drive the growth of the global bioplastic market. However, limited performance and high initial cost hinder the market growth. On the other hand, dependency upon petroleum resources & advancements in R&D and rise in corporate social responsibility (CSR) initiatives present new opportunities in the coming years.

Download PDF Brochure: https://www.alliedmarketresearch.com/request-sample/726

Covid-19 Scenario:

  • Owing to lockdown restrictions imposed by governments with the outbreak of Covid-19 pandemic, manufacturing factories have closed down, which hampered the production volumes. Moreover, the supply chain has been disrupted and raw material shortage has been created.
  • The demand from application industries such as packaging and textiles has been reduced significantly as operations have been halted with the lockdown. However, the demand will be restored as operations begin with lockdown restrictions being lifted off.
  • Governments have encouraged the usage of bioplastics and developed regulations regarding disposable and single use plastics to curb the spread of the Covid-19. Moreover, many multinational organizations such as Danone, Coca-Cola, and Nestlé have taken the oath to adopt bioplastic materials to prevent contamination.

The report offers detailed segmentation of the global bioplastic market based on type, application, and geography.

Based on type, the non-biodegradable plastic segment held the highest share, accounting for more than half of the total share in 2019, and is projected to continue to lead throughout the forecast period. Moreover, this segment is projected to portray the largest CAGR of 14.7% from 2020 to 2027. The research also analyzes the biodegradable plastic segment.

Get Detailed COVID-19 Impact Analysis on the Bioplastic Market @ https://www.alliedmarketresearch.com/request-for-customization/726?reqfor=covid

Based on application, the packaging segment contributed to the largest share in 2019, accounting for nearly two-thirds of the global bioplastic market share in 2019, and is estimated to maintain its dominance share in terms of revenue by 2027. However, the consumer durables segment is estimated to witness the highest CAGR of 15.3% from 2020 to 2027.

Based on geography, Asia-Pacific contributed to the largest market share in 2019, contributing to more than two-fifths of the total share, and is expected to maintain its lead position during the forecast period. However, Europe is estimated to manifest the highest CAGR of 16.2% from 2020 to 2027.

Leading players of the global bioplastic market analyzed in the research include BASF SE, Novamont S.p.A., Dow Inc., Natureworks, Plantic, Biome Technologies plc, Corbion N.V., Eastman Chemical Company, Mitsubishi Chemical Holdings, and Danimer Scientific.

Interested in Procuring this Report? Visit Here: https://www.alliedmarketresearch.com/bioplastics-market/purchase-options

Avenue Basic Plan | Library Access | 1 Year Subscription |           

Sign up for Avenue subscription to access more than 12,000+ company profiles and 2,000+ niche industry market research reports at $699 per month, per seat. For a year, the client needs to purchase minimum 2 seat plan.

Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenue/trial/starter

Get more information: https://www.alliedmarketresearch.com/library-access

About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.