Bioplastics are biodegradable materials that originate from sustainable sources and can be utilized to diminish the issue of debasing plastic waste that is choking out the planet and polluting the earth.
The global market size of bioplastics & biopolymers was USD 2.66 Billion in 2015 and is projected to reach USD 5.08 Billion by 2021. The market is projected to witness a CAGR of 12.0%, in terms of value, during the forecast period. In this study, 2015 is considered as the base year for estimating the market size of bioplastics & biopolymers. The market size is projected for the period between 2016 and 2021.
To know about the assumptions considered for the study, Download PDF Brochure
This growth is mainly driven by implementation of strict environment regulations to reduce carbon content and fluctuating fuel prices which is compelling manufacturers to use a stable source of raw material.
Europe is the biggest regional segment for the bioplastics & biopolymers market, in terms of value and volume, and also projected to dominate the market till 2021. Russia and the U.K. are projected to witness high CAGR during the forecast period. This is due to focused interest on sustainable packaging, and increased political awareness in Europe about environmental issues, which resulted in the formulation of laws and regulations that have influenced all industries in Europe. Europe has huge growth potential during the forecast period. This growth is attributed to the developing construction sector in this regions and increasing applicability of bioplastics & biopolymers in packaging, bottles, agriculture, automotive and consumer products industries.
Bio-PET is the major type used in various applications. It is also projected to dominate the market between 2016 and 2021, in terms of both value and volume. On the other hand, PHA, PLA, and Bio-PE are expected to witness high CAGR, by volume, during the forecast period.
Among the various end users of bioplastics & biopolymers, packaging is projected to account for the largest market share during the forecast period. Bioplastics & biopolymers are widely used in the packaging sector for food packaging, cosmetics packaging, pharmaceuticals packaging, goods packaging. Moreover, bioplastics packaging is cheaper than glass packaging, wood packaging. The bottling industry is projected to witness the highest CAGR during the forecast period. Many pioneers in the beverage industry are preferring bioplastics packaging to conventional plastics, and marching toward sustainability. Ever growing agriculture industry is also expected to influence the demand of bioplastics & biopolymers between 2016 and 2021.
Major market participants contributed toward the growth of the market by adopting several organic and inorganic growth strategies. New product launches and partnership, agreements & collaborations are the key strategies adopted by companies such as BASF SE (Germany), Braskem S.A. (Brazil), and NatureWorks LLC (U.S.). These strategies helped the companies to enhance their regional reach and increase product portfolio of bioplastics to meet the application specific demands of the end-use industries. Mergers, acquisitions & joint ventures, capacity expansions, and R&D also contributed toward the growth of the market players.
For brief analysis on Bioplastics & Biopolymers Market Click here...
The global market size of bioplastics & biopolymers was USD 2.66 Billion in 2015 and is projected to reach USD 5.08 Billion by 2021. The market is projected to witness a CAGR of 12.0%, in terms of value, during the forecast period. In this study, 2015 is considered as the base year for estimating the market size of bioplastics & biopolymers. The market size is projected for the period between 2016 and 2021.
To know about the assumptions considered for the study, Download PDF Brochure
This growth is mainly driven by implementation of strict environment regulations to reduce carbon content and fluctuating fuel prices which is compelling manufacturers to use a stable source of raw material.
Europe is the biggest regional segment for the bioplastics & biopolymers market, in terms of value and volume, and also projected to dominate the market till 2021. Russia and the U.K. are projected to witness high CAGR during the forecast period. This is due to focused interest on sustainable packaging, and increased political awareness in Europe about environmental issues, which resulted in the formulation of laws and regulations that have influenced all industries in Europe. Europe has huge growth potential during the forecast period. This growth is attributed to the developing construction sector in this regions and increasing applicability of bioplastics & biopolymers in packaging, bottles, agriculture, automotive and consumer products industries.
Bio-PET is the major type used in various applications. It is also projected to dominate the market between 2016 and 2021, in terms of both value and volume. On the other hand, PHA, PLA, and Bio-PE are expected to witness high CAGR, by volume, during the forecast period.
Among the various end users of bioplastics & biopolymers, packaging is projected to account for the largest market share during the forecast period. Bioplastics & biopolymers are widely used in the packaging sector for food packaging, cosmetics packaging, pharmaceuticals packaging, goods packaging. Moreover, bioplastics packaging is cheaper than glass packaging, wood packaging. The bottling industry is projected to witness the highest CAGR during the forecast period. Many pioneers in the beverage industry are preferring bioplastics packaging to conventional plastics, and marching toward sustainability. Ever growing agriculture industry is also expected to influence the demand of bioplastics & biopolymers between 2016 and 2021.
Major market participants contributed toward the growth of the market by adopting several organic and inorganic growth strategies. New product launches and partnership, agreements & collaborations are the key strategies adopted by companies such as BASF SE (Germany), Braskem S.A. (Brazil), and NatureWorks LLC (U.S.). These strategies helped the companies to enhance their regional reach and increase product portfolio of bioplastics to meet the application specific demands of the end-use industries. Mergers, acquisitions & joint ventures, capacity expansions, and R&D also contributed toward the growth of the market players.
For brief analysis on Bioplastics & Biopolymers Market Click here...
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