The Global Bioplastics Market has recently been analyzed and explored by Fortune Business Insights™ in their latest market research report. The team of dedicated analysts and researchers has gone to great lengths to provide a comprehensive overview of both current and future scenarios pertaining to the Bioplastics Market. As a result, this report is packed with valuable insights that will be highly advantageous for industry players looking to maintain a competitive edge.
The report also highlights limiting factors and regional industrial presence that may impact market growth trends beyond the forecast period of 2032. The market research aims to gain a complete understanding of the industry's potential and provide information that will help companies to make informed decisions. The Bioplastics Market Report is an impressive 100+ page document that includes a comprehensive table of contents, a list of figures, tables and graphs, as well as a comprehensive analysis.
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Forecast Growth Projected:
The global bioplastics market size was valued at USD 7.49 billion in 2023 and is projected to grow from USD 7.41 billion in 2024 to USD 56.99 billion by 2032, exhibiting a CAGR of 29.0% during the forecast period.
List of the Key Players in the Bioplastics Market:
- Novamont S.p.A. (Italy)
- Arkema S.A. (France)
- Matrìca S.p.A. (Italy)
- NatureWorks LLC (U.S.)
- TotalEnergies Corbion (Netherlands)
- PTT MCC Biochem Co., Ltd. (Thailand)
- Roquette Frères (France)
- Biofase (Mexico)
- Genecis (Canada)
- Trifilon (Sweden)
- Solvay S.A. (Belgium)
Competitors Landscape:
The realm of Bioplastics Market is rife with cutthroat competition and fragmentation, a result of the considerable presence of both global conglomerates and domestic contenders. Industry insiders situated in diverse geographical regions are formulating and executing effective strategies to exploit unexplored opportunities and extend their business outreach. In this highly aggressive environment, prominent players are aggressively pursuing tactics to enhance their market share through various channels.
Segmentation:
Biodegradable Segment Held Major Share Due to Rising Product Awareness Regarding Sustainable Plastics
On the basis of type, the market is fragmented into non-biodegradable and biodegradable. The biodegradable segment registered the largest market share in 2022. This was due to the increasing awareness regarding sustainable plastics due to numerous environmental advantages.
Flexible Segment Dominates Due to Surge in Demand for Products with Sustainable Packaging
On the basis of application, the market is subdivided into flexible packaging, rigid packaging, textiles, automotive & transportation, consumer goods, agriculture & horticulture, and others. The flexible segment held the largest U.S. bioplastics market share due to rising customer preference toward purchasing food products consisting green or eco-packaging materials.
Report Coverage:
The report offers a coverage of the major trends in the market. It also provides an account of the pivotal steps undertaken by leading companies for consolidating their market share. It gives an overview of the key factors driving the market growth over the forthcoming years.
Drivers and Restraints:
Increasing Green Plastic Demand to Propel Industry Expansion
One of the key factors driving U.S. bioplastics market growth is the surging demand for green plastic. The product consumption is increasing across end-use sectors such as packaging and automotive & transportation.
However, the industry expansion may be hindered by the low availability and high cost of manufacturing the product.
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