The newly launched report by Stratview Research, titled ‘Bioplastics Biopolymers Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2022-2028’ has been bifurcated by Type (Biodegradable, Non-biodegradable/Bio-based), by End-Use Industry Type (Packaging, Consumer Goods, Automotive Transportation, Textiles, Agriculture Horticulture, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).

According to the report the Bioplastics Biopolymers Market was estimated at USD 10.66 billion in 2021 and is likely to grow at a CAGR of 22.23% during 2022-2028 to reach USD 43.72 billion in 2028.

Market Drivers

The growth of the bioplastics biopolymers market is primarily driven by:

Increasing demand from the packaging industry

Government’s efforts to promote bio-products by regulating stringent rules citing environmental concerns.

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Market Segmentation Analysis -

Based on the type, the bioplastics biopolymers market is segmented as non-biodegradable/bio-based and biodegradable. The bio-based segment is expected to register the larger share of the market, during the forecast period, driven by the increasing environmental concerns and stringent rules by the government to encourage the use of bio-based bioplastics.

Based on the end-use industry type, the market is segmented as packaging, consumer goods, automotive transportation, textiles, agriculture horticulture, and others. The packaging industry is expected to occupy the largest share of the market, during the forecast period, owing to the increasing demand to replace conventional plastics in the packaging industry to address environmental concerns.

In terms of regions, Asia-Pacific is estimated to be the fastest-growing market during the forecast period. Increasing population, purchasing power, and increasing preference of customers towards eco-friendly plastic products generate huge demand for bioplastics biopolymers in the region, which is driving the growth of the region’s market.

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