Technavio market research analysts forecast the global bioplastics and biopolymers market to grow at a CAGR of nearly 13% during the period 2018-2022, according to their latest report.
This industry research report presents a comprehensive analysis of the bioplastics and biopolymers market by type (Bio-PE, Bio-PET, PLA, biodegradable starch blends, and others) and by end-user (packaging, consumer goods, and others). The report also presents a detailed analysis of the market’s growth prospects across regions such as the Americas, APAC, and EMEA.
Overview of the global bioplastics and biopolymers market
Technavio’s market research analysts have identified the emergence of bio-based and renewable raw materials as one of the primary factors that will trigger the growth of the bioplastics and biopolymers market in the coming years. Bio-plastics are used in various applications such as packaging and domestic goods and the dependence on petroleum-based plastics is slowly decreasing. Bio-based products have the potential to reduce greenhouse gases emissions and they are considered cost-effective. Moreover, the increasing use of biomass such as grass, trees, plants, and other organic materials will aid in building a bio-based economy. The raw materials used in the production of biopolymers are renewable and they have high demand as compared with petroleum-based raw materials. Our market research analysts estimate that this market will grow steadily at a CAGR close to 13% by 2022.
The increasing focus on sustainable production is one of the key trends in the bioplastics and biopolymers market. The growing focus on sustainability and the advent of favorable government regulations for green procurement, the biodegradable polymers market will witness high growth in the consumer goods and packaging sector.
The bioplastics and biopolymers market appears to be concentrated due to the presence of few key vendors. This industry research report offers an in-depth analysis of the strategies adopted by the companies to sustain the competitive environment in this biodegradable plastic market. Additionally, the report also offers information on the key areas the companies are focusing on and the products offered by various vendors in this marketspace.
The packaging segment accounted for the major share of the biodegradable plastic market during 2017. The dominance of this segment is due to the increased sales volume. Our analysts predicted that this segment will perform well in the forthcoming years.
Of the two major end-users, packaging and consumer goods, the packaging segment held the largest market share in 2017, accounting for nearly 49% of the market. This segment is anticipated to see steady growth during the forecast period.
EMEA was the leading region for the global bioplastics and biopolymers market in 2017, accounting for a market share of more than 38%. This region is anticipated to dominate the market through the forecast period. However, our analysts predicted that the Americas will witness growth in the next five years.
see more on