Bioplastics & Biopolymers Market Expected to Hit US$ 29.7 Billion by 2026, at a CAGR of 22.7%, Concludes MarketsandMarkets™
Global bioplastics & biopolymers market size is projected to grow from USD 10.7 billion in 2021 to USD 29.7 billion by 2026, at a CAGR of 22.7% between 2021 and 2026 by MarketsandMarkets.
Global bioplastics & biopolymers market size is projected to grow from USD 10.7 billion in 2021 to USD 29.7 billion by 2026, at a CAGR of 22.7% between 2021 and 2026 by MarketsandMarkets. Increasing consumer awareness regarding the hazardous effects of traditional plastics on the environment is expected to drive the bioplastics & biopolymers market. Bioplastics are developed from either renewable biomass sources or petrochemical sources. These bioplastics contain a high percentage of biobased carbon and are biodegradable. Biopolymers are composed of natural polymers, such as proteins, lipids, and carbohydrates, which are derived from renewable resources, such as plants and animals. The market is expected to witness high growth due to increasing demand from various end-use industries, such as packaging, foodservice, agriculture, and consumer goods. Furthermore, growing consumer preference for biodegradable and compostable products is driving the demand for bioplastics & biopolymers. The packaging segment is expected to witness significant growth during the forecast period. The increasing demand for bioplastics & biopolymers in packaging applications, such as food packaging, beverage.Download PDF – https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=88795240Recent developments in the Bioplastics & Biopolymers Market include:1. The development of biobased and biodegradable plastic materials from renewable resources, such as corn, wheat, sugar cane, and potatoes, among others.2. The use of biopolymers as replacements for petroleum-based plastics. Examples include polylactic acid (PLA), polyhydroxyalkanoates (PHAs), and polybutylene succinate (PBS). 3. The development of biodegradable packaging for food and beverage products, such as PLA-based plastic wraps and containers.4. The development of bioplastics for 3D printing and other emerging technologies, such as cellulose-based filaments and PLA-based composites.5. The use of biopolymers and bioplastics in the development of medical devices, such as implants, sutures, and artificial organs.6. The development of bioplastics for automotive parts, such as dashboards, bumpers, and doors. 7. The use of bioplastics in the production of textiles, such as carpets and clothing.8. The development of bioplastics for food packaging, such as bide.Biodegradable bioplastics & biopolymers type will account for the major share of the market in terms of value and volume.Biodegradable bioplastics and biopolymers are derived from natural renewable resources such as corn, sugarcane, and starch. They are also derived from petroleum-based resources. These bioplastics are becoming increasingly popular due to their environmentally friendly nature and low production costs. They are mainly used in packaging and automotive industry. In terms of value, the biodegradable bioplastics & biopolymers type is expected to account for the largest market share during the forecast period. The increasing demand for biodegradable packaging materials in the food and beverage industry is driving the growth of the bioplastics market. The growing popularity of bioplastics in the packaging industry is due to their superior properties such as high strength, low cost, and biodegradability. In addition, the rise in awareness about the environmental benefits of bioplastics is driving the market growth. The high cost of bioplastics, however, is expected to restrain market growth.Get Sample Report – https://www.marketsandmarkets.com/requestsampleNew.asp?id=88795240In terms of value, the packaging segment is projected to account for the largest share of the bioplastics & biopolymers market, by end-use industry, during the forecast period.The packaging industry is estimated to be the largest consumer of bioplastics & biopolymers, due to their superior characteristics, such as lightweight, high-water resistance, and recyclability. Packaging materials are mainly used in the food & beverage, healthcare, and consumer goods industries. The healthcare segment is also expected to witness significant growth in the bioplastics & biopolymers market, due to the rising demand for biopolymers in the production of medical disposables. Biopolymers are widely used in the production of medical disposables, such as sutures, stents, and endoscopes, as they are biodegradable and safe for medical usage.APAC is estimated to be the fastest-growing market for bioplastics & biopolymers between 2021 and 2026.APAC is expected to experience the highest growth rate in the global bioplastics & biopolymer market. The region is estimated to witness a CAGR of 17.3% between 2021 and 2026. The growth of the bioplastics & biopolymer market in APAC can be attributed to the rising demand for eco-friendly packaging solutions and the increasing focus of governments on reducing the environmental impact of plastic. Additionally, the region is witnessing a significant increase in the demand for bioplastics & biopolymers from the healthcare, automotive, and packaging industries. The presence of many leading bioplastics & biopolymer manufacturers in countries such as India, China, Japan, and South Korea is expected to further drive the growth of the bioplastics & biopolymer market in the region. Furthermore, the rising awareness about the benefits of bioplastics & biopolymers, such as biodegradability, low emissions, and recyclability, is expected to further fuel the demand for bioplastics & biopolymers in the region.Get Customized Report – https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=88795240About MarketsandMarkets™MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.Contact:Mr. Aashish MehraMarketsandMarkets™ INC.630 Dundee RoadSuite 430Northbrook, IL 60062USA : 1-888-600-6441