MarkNtel Advisors recently published a detailed industry analysis of the Bioplastic Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.
Insights and Analysis of the Bioplastic Market (2023-2028)
The Global Bioplastic market size is valued at around USD 8.21 billion in 2024 and is projected to grow at a CAGR of around 10.12% during the forecast period, i.e., 2023-28.
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What is driving the Bioplastic Market?
Growing Consumer Awareness Towards Sustainable Packaging Products - Consumers are becoming more health-conscious & adopting sustainable practices in terms of their purchase decisions, which is being reflected in the growing demand for sustainable & green products across the globe. Bioplastics cause less harm & are easily biodegradable, due to which the customers are inclining more towards sustainable packaging of products which has induced the need for these resources & resulted in the growth of the respective market. The growing popularity of reusable & biodegradable alternatives, such as bamboo straws, glass water bottles, cloth bags, etc., among consumers has again benefitted the market through an enhanced avenue of expansion.
Moreover, the consumer's perception of these resources has also changed due to the COVID-19 pandemic in 2020. With the increased focus on sustainability, cleanliness, and others, consumers have become more conscious in terms of their purchases & selecting environment-friendly products with keen observation, especially in developed & fast-developing economies. Therefore, the improved awareness among individuals would expand the adoption of bioplastic-based products in the coming years, thereby pushing market expansion in the ensuing years.
What segments define the Bioplastic Market from 2023 to 2028? How do these segments contribute to market dynamics and growth?
By Product Type
(Biodegradable, Non-Biodegradable),
By Raw Material
(Sugarcane, Potato, Corn Starch, Switch grass, Vegetable Oil, Cassava, Wheat, Others),
By End-User
(Packaging, Agriculture, Consumer Goods, Automotive & Transport, Agriculture & Horticulture, Electrical & Electronics, Textiles, Others (Building & Construction, coatings & adhesives, etc.)),
By Region
(North America, South America, Europe, The Middle East & Africa, Asia Pacific)
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Who are the leading key players shaping the Bioplastic Market landscape?
Novamont S.p.A, Arkema S.A., Matrica S.p.A., Solvay S.A., NatureWorks LLC, Total Corbion PLA bv, PTT MCC Biochem Co. Ltd, Roquette Feres, Avantium, Toray Industries Inc., LyondellBasell Industries Holding B.V., BASF SE, BioApply, Braskem, Biofase, Genecis, Trifilon, Kaneka Takasaho, Danimer Scientific, Taghleef Industries, Others
Questions Addressed in this Study
1.What factors are driving the Bioplastic Market growth?
2.How is the Bioplastic Market expected to grow over the next five years?
3.What are the key insights into the current trends in the Bioplastic Market?
4.What is the current size of the Bioplastic Market, and how is it projected to change in the future?
6.What is the future outlook for the Bioplastic Market in terms of technological advancements and market expansion?
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