Bioplastics & Biopolymers Market worth $27.3 billion by 2027 - Exclusive Report by MarketsandMarkets

CHICAGO, Feb. 2, 2023 /PRNewswire/ -- The report "Bioplastics & Biopolymers Market by Type (Biodegradable, Non-Biodegradable/ Bio-Based), End-Use Industry (Packaging, Consumer Goods, Textiles, Agriculture & Horticulture, Automotive & Transport, Coatings & Adhesives), & Region - Global Forecast to 2027", size of bioplastics & biopolymers was USD 11.5 billion in 2022 and is projected to reach USD 27.3 billion by 2027, at a CAGR of 18.9%, between 2022 and 2027.

Bioplastics are plastics derived from renewable sources such as corn, potatoes, rice, soy, sugarcane, wheat, and vegetable oil, while biopolymers are naturally occurring polymers. Bioplastics may or may not be biodegradable. They are mainly segmented into biodegradable and non-biodegradable plastics for various applications in packaging, consumer goods, automotive & transportation, agriculture & horticulture, medical, and other end-use industries.

Browse in-depth TOC on "Bioplastics & Biopolymers Market"

244 – Tables
42 – Figures
283 – Pages

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In terms of value, PBAT are estimated to be the second largest market in the global bioplastics & biopolymers market, by product type, during the forecast period.

PBAT is marketed commercially as a fully biodegradable plastic. It has excellent biopolymer properties, such as high flexibility, good thermal stability, and a high degree of biodegradability. PBAT will be replacing LDPE; in mulch film application; the major application focus for most of the PBAT manufacturers is shopping bags due to stringent environmental regulations. PBAT has comparable tensile strength that makes it a good choice for carrying capacity in the application of shopping bags.

Sugarcane/Sugar beet to be the largest market in the global bioplastics & biopolymers market during 2022 to 2027

The sugarcane/sugar beet segment accounted for more than a quarter of the total market, in terms of volume, and is projected to register a CAGR of 19.3%during the forecast period. Bioplastics made from sugarcane ethanol have the same physical and chemical properties as regular plastic and maintain full recycling capabilities. The carbon footprint of sugarcane ethanol bioplastics is lower than traditional plastic because sugarcane absorbs CO2 from the air as it grows. Sugarcane-based bioplastics can be used to create bags, covers, tubes, films, wraps, and stretch films. A number of companies have started to switch to more environmentally friendly packaging.