Bioplastics refer to materials that have been made from renewable sources and play an important role in reducing the generation of plastic generation. These types of plastics come from different types of renewable biomass sources such as plant starch, cellulose, vegetable fats, and natural sugars. Biomass-based plastics are gaining immense popularity as an effective alternative to conventional plastics as industries are looking for eco-friendly plastic materials.

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Forecast Growth Projected:

According to Fortune Business Insights the global bioplastics market was valued at USD 7.49 billion in 2023 and is expected to decline slightly to USD 7.41 billion in 2024 before witnessing substantial growth, reaching USD 56.99 billion by 2032. This reflects a robust compound annual growth rate (CAGR) of 29.0% over 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)
• Avantium (Netherlands)
• Toray Industries, Inc. (Japan)