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 significant growth, reaching USD 56.99 billion by 2032. This represents a robust compound annual growth rate (CAGR) of 29.0% during the forecast period. The market is poised for exponential growth driven by increasing demand for sustainable alternatives to traditional plastics across industries such as packaging, automotive, agriculture, and consumer goods.
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.
Fortune Business Insights™ displays this information in a report titled, "Bioplastics Market, 2025-2032."
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Segments:
Biodegradable Plastics to Gain Traction Due to their Wide Usage in Numerous Industries
Based on type, the market is segmented into biodegradable and non-biodegradable. The biodegradable segment is expected to hold a dominant bioplastics market share as this type of plastic is finding robust use in many industries such as textiles, packaging, consumer goods, and agriculture.
Demand for Durable and Sturdy Packaging Solutions to Boost Product Use in Rigid Packaging
Based on application, the market covers rigid packaging, flexible packaging, textiles, automotive & transportation, agriculture & horticulture, consumer goods, and others. The rigid packaging segment is predicted to hold the largest market share as many shipping companies are looking for sturdy yet eco-friendly packaging solutions.
With respect to region, the market covers North America, Europe, Asia Pacific, and Rest of the World.
List of the Key Players in the Bioplastics Market: