Bioplastics Market Size Set for Explosive Growth, With Projections Indicating $ 19.43 billion by 2031 | The Insight Partners

Bioplastics are produced from plants or other biological materials instead of crude oil and natural gas. These are usually made by extracting sugar starch from sugarcane and corn in order to convert it into polylactic acid (PLAs), or they can be produced from polyhydroxyalkanoates (PHAs) bioengineered from microorganisms. The most typically used bioplastic in food packaging is PLA, while PHA is often used in medical devices, including sutures and cardiovascular patches. PLA has properties similar to polyethylene and polypropylene, and it offers a high level of rigidity, transparency, stability, and superior performance. Further, producing PLA plastic saves two-thirds of the energy required for fabricating fossil fuel-based plastics.

Bioplastics are produced from plants or other biological materials instead of crude oil and natural gas. These are usually made by extracting sugar starch from sugarcane and corn in order to convert it into polylactic acid (PLAs), or they can be produced from polyhydroxyalkanoates (PHAs) bioengineered from microorganisms. The most typically used bioplastic in food packaging is PLA, while PHA is often used in medical devices, including sutures and cardiovascular patches. PLA has properties similar to polyethylene and polypropylene, and it offers a high level of rigidity, transparency, stability, and superior performance. Further, producing PLA plastic saves two-thirds of the energy required for fabricating fossil fuel-based plastics.

Moreover, PLA plastics emit almost 70% lesser greenhouse gases than conventional plastics during the degradation in a landfill. Further, bioplastic packaging is easily manufactured as packaging produced from biopolymers is usually produced employing standard plastics processing technology. Thus, the growing demand for eco-friendly plastics in the packaging sector is a major factor expected to boost the growth of the bioplastics market across the globe over the forecast period.

Market leaders and key company profiles           -

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Overview of Report Findings

South and Central America [Brazil, Argentina, Rest of South and Central America]

Middle East and Africa [South Africa, Saudi Arabia, UAE and Rest of Middle East and Africa]

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Market Segmentation

Segments Covered –

By Type

By Application

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Competitive Strategy and Development

Global Headlines on Bioplastics

Regional Analysis –

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Conclusion

Growing demand from industries such as packaging, automotive, catering products, consumer electronics, agriculture/horticulture, and textiles is driving the bioplastics market. Consumers prefer using bioplastic packaging material over synthetic plastic packaging as it can be decomposed with food. Factors such as high biodegradation, eco-friendliness, zero toxicity, and direct substitutes to conventional plastic favor the use of bioplastics. In addition, the growing demand for recycled materials to produce packaging and initiatives undertaken by the government to minimize the overall production and consumption of single-use plastic products are anticipated to support the growth of the bioplastics market.

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The bioplastics and biopolymers market was valued at US$ 6,703.53 million in 2022 and is projected to reach US$ 14,639.14 million by 2030; it is expected to register a CAGR of 10.5% from 2022 to 2030.

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