Bioplastics Market Segmentation, Industry Analysis By Production, Consumption, Revenue And Growth Rate By 2027

The global bioplastics market is projected to be worth USD 25.27 Billion by 2027, according to a current analysis by Emergen Research. The bioplastics market is experiencing rapid growth attributed to its increasing demand in end-use applications, such as packaging, textile, automotive transportation, consumer goods, agriculture, and building construction. Besides, supportive government initiatives and offering subsidies to promote the growth of bioplastics are driving the market's growth. In 2018, the Japanese Ministry of Environment made an announcement for the inclusion of USD 45.0 million/JPY 5.0 Billion in the FY2019 budget for developing products manufactured from bio-plastics and provide subsidies to firms that make paper substitutes to plastic.

The growing emphasis on waste management and sustainability is a significant factor driving the growth of the market. Waste management is a primary challenge prevalent across the globe. Efforts are being made to promote bioplastics' use, providing opportunities in urban waste (UW) as a new raw material source aimed towards environmental-sustainability and generation of biofuels. A few benefits of bioplastics comprise reduced carbon footprint, reduced consumption of non-renewable sources, savings in energy during production, decrease in non-biodegradable waste responsible for environmental pollution, and absence of any chemical that may pose a health hazard and hence are suitable for food packaging by keeping the flavor and smell intact.

The report, additionally, offers a comprehensive SWOT analysis and Porter’s Five Forces analysis to offer a better understanding of the competitive landscape of the industry. It also covers strategies adopted by prominent players such as mergers and acquisitions, collaborations, joint ventures, product launches, and brand promotions, among others. The report aims to offer the readers a holistic understanding of the relevant features of the industry.

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The report further sheds light on the emerging growth opportunities, challenges, market threats, limitations, and factors likely to restrict the growth of the Bioplastics market. The report further discusses in detail the market in international waters and the emerging trends in those regions. It also offers insights into the competitive landscape, market drivers, industrial scenario, and the latest product and technological developments to offer a comprehensive overview of the Bioplastics market landscape.

Valuable Market Insights:

The report highlights the latest trends observed in the consumption pattern of each regional segment.
Extensive market segmentation included in the report helps better understand the revenue and estimated growth of the individual regions.
The report throws light on the historical and current market scenarios and provides a concise year-on-year growth rate of the global Bioplastics market.
The report further entails the current market trends, technological advancements, revenue growth, and other aspects affecting market growth.

Market Scope:

One of the report’s central components is the broad Bioplastics market segmentation that includes the product type gamut, application spectrum, end-user industry landscape, significant geographical regions, and the top market contenders. The report contains unbiased industry expert opinions on the current market scenario, past market performance, production consumption rates, demand supply ratio, and revenue generation forecasts over the estimated period. The key players’ financial positions, along with their gross profits, sales volumes, sales revenue, manufacturing costs, and other financial ratios, have been accurately gauged in the report. Furthermore, several analytical tools like investment assessment, SWOT analysis, and Porter’s Five Forces Analysis have been implemented by our analysts’ team to evaluate the production and distribution capacities of the Bioplastics market players.

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Key Highlights From The Report

In February 2018, Teijin Ltd. made an announcement about the development of a formable film, which is resistant to gasoline and produced from PLA NEXT® bioplastic to substitute chrome plating, adopted by Honda Lock Mfg. Co., Ltd. for use in the nonconductive door handles having smart-entry systems.
Non-biodegradable bioplastics contributed to a larger market share of around 60.0% in 2019, owing to its widespread usage attributed to its low cost, durability, and versatility. Polylactic acid (PLA) is the most widely used non-biodegradable bioplastic.
Polyethylene Furanoate (PEF), a biodegradable bioplastic, is currently under development and is estimated to be commercially available by 2023.

Key participants include BASF SE, NatureWorks, Biome Plastics, Braskem, Biotec, Total Corbion, Plantic Technologies, Mitsubishi Chemical Holdings Corporation, Novamont SPA, and Toray Industries, among others.

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Emergen Research has segmented the global bioplastics market on the basis of type, distribution channel, application, and region: