The global 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 shift in consumer preference towards eco-friendly plastics products is driving the overall bioplastics & biopolymers market. The global bioplastics & biopolymers market size is expected to grow from USD 10.

New York, April 15, 2020 (GLOBE NEWSWIRE) -- announces the release of the report "Bioplastics & Biopolymers Market by Type, End-Use Industry, Region - Global Forecast to 2025" -
5 billion in 2020 and USD 27.9 billion by 2025, at a CAGR of 21.7% during the forecast period. Consumer awareness toward sustainable plastic solutions and pervasive efforts to eliminate the use of non-biodegradable conventional plastics is contributing to the market growth of bioplastics. Therefore, increasing consumer awareness, along with governmental legislation, is driving the use of bio-based products is driving the market for biodegradable plastics and bio-based plastics.

An increase in waste management regulations in Europe leads to a growing demand for bioplastics & biopolymers.

The European bioplastics market is expected to grow at a very high rate during the forecast period.R&D, innovations, and funding have enhanced the technical and functional properties of bioplastics.

Efforts are being taken to decrease the costs of bioplastics by implementing economies of scale. Legislative regulations, such as the ban on traditional shopping carrier bags in Italy, can also drive the demand for bioplastics.

Bio-PET segment to dominate non-biodegradable/bio-based bioplastics & biopolymers
Bio-PET is the most widely used types owing to its high durability that matches its fossil-fuel-based counterpart.It has good physical, optical, and lightweight properties along with an environmentally friendly nature, makes it a key material for applications such as food & beverage packaging, cosmetics & pharmaceutical, automotive, and textiles.

In addition, strategies of companies such as PepsiCo and Coca- Cola towards sustainable packaging for carbonated soft drinks is also likely to drive the bio-PET segment.

APAC is expected to register the fastest growth during the forecast period.
APAC is expected to register the highest growth during the forecast period.Increasing population, growing industrialization, strict government norms, and environmental regulations are the key factors attributed to the overall growth of the market in the region.

The increasing developments in the packaging end-use industries in emerging countries of the region are providing substantial growth opportunities for the bioplastics & biopolymers market.

In-depth interviews were conducted with chief executive officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the bioplastics & biopolymers market.
• By Company Type - Tier 1: 30%, Tier 2: 35%, and Tier 3: 35%
• By Designation - D Level: 40%, C Level: 40%, Others: 20%
• By Region – Europe: 20%, APAC: 50%, North America: 10%, South America: 10%, Middle East & Africa: 10%

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), Zhejiang Hisun Biomaterials (China). The study includes an in-depth competitive analysis of these key players in the bioplastics & biopolymers market, with their company profiles, recent developments, and key market strategies.

Research Coverage:
The market study covers the bioplastics & biopolymers market and its segments. It aims at estimating the market size and the growth potential of this market across different segments such as type, end-use industry, and region. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies

Key Benefits of Buying the Report:
The report will help the leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall bioplastics & biopolymers market and the sub-segments.The stakeholders will be able to understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies.

It will also help stakeholders comprehend the pulse of the market and provide them with information on key market drivers, restraints, and opportunities.
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