Bioplastics and Biopolymers Market Size, Share, Growth Analysis, By Application(Films, Bottles, Fibers, Seed Coating), By Type(Packaging, Consumer Goods, Automotive & Transportation, Textiles), By Region - Industry Forecast 2024-2031

Bioplastics and Biopolymers Market size was valued at USD 9.67 billion in 2019 and is poised to grow from USD 11.5 billion in 2023 to USD 45.94 billion by 2031, growing at a CAGR of 18.9% in the forecast period (2024-2031).

Since they can dramatically lessen our reliance on fossil resources, which are significantly more damaging to the environment than bioplastics and biopolymers, bioplastics and biopolymers are gaining popularity. In the recent year, there has been major hype to reduce the pollution and create a safer environment. Therefore, scientists have done extensive research around damage control and created the bioplastics and biopolymers which are produced from renewable resources and degradable materials, which can reduce pollution in a real way.

One of the major generators of plastic & polymer waste was packaging. Therefore, in recent days, Industries are shifting from plastic packaging to bioplastic and biopolymers packaging.The development of such sophisticated packaging system for food products has greatly helped the shelf life of the food and it utility helps brand to connect with their customer by showing their consciousness towards the environment.Electronic waste are another major form of plastic waste which society striving to improve.This industry has made big strides in tackling its environmental impact, largely through producing more energy efficient devices and through more efficient recycling options.Bioplastics and biopolymers can be similar as that of the traditional plastics without modifying any machinery and can provide electronic industry with an excellent opportunity to improve their environmental credentials.

US Bioplastics and Biopolymers Market is poised to grow at a sustainable CAGR for the next forecast year.