Sustainable Biopolymers Market Size, Share, Growth, and Industry Growth, By Type (Flexible Green Packaging, Rigid Packaging, Polymeric Foams, High-Performance Films, and Others), By Application (Pharmaceutical Industry, Agriculture, Packaging, and Others), Forecast From 2023 To 2028

Updated On: 15 May 2023

SUSTAINABLE BIOPOLYMERS MARKET  REPORT OVERVIEW

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The global sustainable biopolymer market size is expected to be USD 48.04 billion in 2022 and the market is projected to touch USD 69.6 billion by 2028, exhibiting a Compound annual growth rate (CAGR) of 6.4% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with sustainable biopolymer experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels.

A plastic substance that addresses the need of end-users without damaging the economy, health, and environment is called a sustainable biopolymer. These are the organic polymers produced by various biological organisms. Biopolymers can be found in large amounts in nature. These biopolymers are biodegradable and do not have any side effects on the natural environment. They can also be favorable to the soil-improvement material. Additionally, the researchers are striving to produce biodegradable polymers by using various renewable resources such as feedstocks, including plants. 

The biopolymers friendly to the environment are known as a sustainable biopolymers. These biopolymers are the most eco-friendly class of sustainable biopolymer. The sustainable biopolymer market for endurable biopolymers is likely to grow due to engineering becoming an important area coupled with various companies investing on polymerization technologies. The use of such polymers to serve health benefits to the population is also forecasted to gain traction in the market. Rising lieu of advancements in the technology of green energy is also projected to draw growth in the market.

COVID-19 Impact: Halt On Supply and Production Impeded Growth during Lockdown

The effects of the pandemic were allegedly severe as it affected the economy on a global scale. The sustainable biopolymer market growth was reportedly influenced by the outbreak of COVID-19. The market witnessed a negative impact of the pandemic and the lockdown due to various restrictions in manufacturing and supply chains. The demand for chemical and advanced materials witnessed a stagnancy due to stringent regulations on the supply of the materials. The production of new materials and the supply of existing products were halted. The market experienced a significant impact on the growth and is still recovering from it. 

LATEST TRENDS

"Rising Demand for Chemicals and Energy to Elevate Market Growth"

Consistent demand for chemicals and energy coupled with the expanding population is a project to foster sustainable biopolymer market growth. The depletion of fossil fuels associated with the hazardous effects of petrochemical is leading researchers to produce more sustainable biopolymers. The rising need for sustainable products is leading to the demand for the product. Moreover, the use of chemicals and energy in various sectors such as agriculture, pharmaceutical, packaging, and others is expected to surge the market growth.   

SUSTAINABLE BIOPOLYMERS MARKET SEGMENTATION

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• By Type Analysis

By type, the market is segmented into flexible green packaging, rigid packaging, polymeric foams, high-performance films, and others.

• By Application Analysis

Based on application, the market is classified into the pharmaceutical industry, agriculture, packaging, and others. 

DRIVING FACTORS

"Easy Disposability of Products to Propel Growth in the Market"

The major factor encouraging market growth is the ease of disposing. The easy disposability of biopolymers is increasing their adoption in the global market. Under specific circumstances, the biopolymer is degradable under landfills. Moreover, the demand for sustainable products, chemicals, and materials is on a constant rise, which is most likely to foster growth. It is used in coating and packaging materials. The packaging material is later disposed of, and the non-biodegradable coatings may cause harm to the environment. Thus, the packaging and coating industry prefers biodegradable biopolymers to avoid any harm to the environment. 

"Rising Popularity of Plant-Based Biopolymers to Aid Product Demand"

The steady consumption of renewable feedstock feedstocks to manufacture sustainable biopolymers is expected to give a significant boost to the market. Energy scientists are inclined to use renewable feedstock to create sustainable polymers. Additionally, innovations in the polymer business now adopt plant-based materials. Scientists are avoiding the use of non-biodegradable polymers in various areas. The emphasis now is on sustainable polymers, which are forecasted to surge growth in the forecast period. 

RESTRAINING FACTORS

"Challenges in Material Manufacturing and High Cost to Impede Growth"

The lack of hardness and elasticity in the product prevents many firms from employing them. Moreover, the higher cost of the product may pose a challenge to sustainable biopolymer market growth.  

SUSTAINABLE BIOPOLYMERS MARKET  REGIONAL INSIGHTS

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"Asia Pacific to Dominate the Market Due To the Steady Adoption of Sustainable Products"

Asia Pacific is projected to hold a dominating part of the sustainable biopolymer market share owing to the rapid adoption of biopolymers in various applications such as construction, agriculture, packaging, textile, and automotive industries. 

North America is anticipated to show significant growth in the global market due to the shifting tastes of consumers and escalating awareness among consumers for sustainable products. U.S. is likely to be the major contributor in the region’s growth due to the region being one of the major consumers of biopolymers and accounting for significant product consumption. 

KEY INDUSTRY PLAYERS

"Key Players Must Focus On Product Development for Global Market Growth"

The businesses are working on developing new eco-friendly chemical products that provide customers with better effectiveness and greater value. Companies also use innovation, acquisitions, and investments to try to increase sales. They are raising their production capacity in order to better serve their various markets. The marketplace is competitive as a result of the existence of numerous huge firms. An extensive worldwide consumer base and the execution of operations through specialized distribution networks are other characteristics. The key companies strive to gain a higher part of the sustainable biopolymer market share by launching new products. 

List of Market Players Profiled

• 3M (U.S.)
• Amcor (Australia)
• Cargill (U.S.)
• Greiner Packaging International (Austria)
• Novolex (U.S.)
• Saint-Gobain (Germany)
• Wipak Group (Finland)
• BIOTEC (India)
• DuPont Tate & Lyle Bio Products (U.S.)
• Future Foam (U.S.)
• Formosa Plastics Group (China)
• Filmquest Group Inc. (U.S.)
• Kaneka (Japan)
• Plastomer Corporation
• Swiss Pac (India)

REPORT COVERAGE

The report covers various market aspects, such as:

• The product description is added to a brief about the product.
• Impacts of the lockdown followed by the pandemic.
• A driving factor becoming the new trend in the market.
• The factors which are likely to drive growth.
• Factors expected to decline in growth in the market.
• An in-depth regional analysis of the market is performed.
• Key players and their headquarters are also covered in the report.