According to a recent report titled “Bioplastics & Biopolymers Market – Global Forecast to 2029”, the global market is projected to grow from USD 15.3 billion in 2024 to USD 45.2 billion by 2029, registering a CAGR of 24.2%. This surge is driven by increasing adoption across industries such as packaging, consumer goods, agriculture, textiles, and automotive.
Bioplastics are derived from renewable resources like corn, soy, and sugarcane, and are categorized into biodegradable and non-biodegradable (bio-based) types. Meanwhile, biopolymers occur naturally and are being increasingly used in sustainable production processes.
The report includes:
- 261 market data tables
- 54 figures
- 307 pages of insights
Leading companies in this space include NatureWorks LLC (US), Braskem (Brazil), BASF SE (Germany), TotalEnergies Corbion (Netherlands), Novamont (Italy), and Biome Bioplastics (UK).
Recent Developments:
- Jan 2025: MarketsandMarkets released this global forecast.
- Nov 2022: TotalEnergies Corbion formed a strategic alliance with BGF for Luminy PLA development.
- Oct 2022: Braskem announced a USD 60M expansion for its I’m green™ biopolymer production.
- June 2022: BASF collaborated with Confoil to develop compostable packaging.
- June 2021: BASF launched Hydagen, a konjac-derived biopolymer for cosmetics.
- Sept 2021: Braskem’s bio-EVA used in the world’s first biopolymer bra cup with Gelmart.
Europe is the third-largest regional market, with countries there leading in research, development, and regulations supporting sustainable alternatives. Companies like BASF, TotalEnergies Corbion, Biome Bioplastics, and Bio-On are key players driving innovation across the continent.