San Francisco, 26 April 2024: The Report Biopolymers Market Size, Share & Trends Analysis Report By Product (Bio-PE, Bio-PET), By End-use (Packaging, Consumer Goods), By Application, By Region, And Segment Forecasts, 2024 - 2030

The global biopolymers market size is estimated to reach USD 38.69 billion by 2030, registering a CAGR of 10.4% from 2024 to 2030, according to a new report by Grand View Research, Inc. The increasing demand for these Biopolymers is expected to increase exponentially on the account of increasing demand for bio-based or eco-friendly and sustainable solutions in the packaging industry.

Biopolymers find vast applications in numerous fields where biodegradable and sustainable products are needed. For instance, the utilization of the drug delivery process, to increase the performance of various bioactive molecules is still a crucial method for achieving illness therapy. A variety of synthetic, semi-synthetic, and natural polymers, especially Biopolymers are increasingly used in these application areas.

The mounting perception about the ill effects of traditionally used plastics on the environment has led to a shift towards the utilization of Biopolymers. Traditional petrochemical-based plastics contain dangerous chemicals that can leach into drinks and food products, which can result in numerous health issues. On the other hand, bio-based products reduce the risk of deadly exposure. To sum up, the demand for healthier products is steering the growth of the Biopolymers market on a global scale.

The cost of production of Biopolymers acts as a major barrier to the growth of the overall market. Upon comparison, the manufacturing cost of Biopolymers is typically 20% to 100% more than that of the traditionally used petro-based polymers, as the polymerization cost of such polymers is relatively higher. To sum up, the production and utilization of bio-based polymers is still in the development stage, and as a result, numerous research & development activities are being undertaken to overcome such types of restraining factors.

This is majorly attributed to the expanding demand for PHA-based environmental plastics. Corresponding to the heightened demand for eco-friendly packaging from an extensive variety of end-use areas, major packaging and plastics manufacturing companies are shifting to biodegradable products. Biopolymers are engaged in an array of end-use applications, including biomedical, pharmaceuticals, and food. Because of their excellent recovery characteristics, they are in tremendous demand in biomedical applications, as they assist in the treatment of wounds of all shapes and sizes.

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According to the Ellen MacArthur Foundation (EMF), 78 million tons of single-use plastic packaging is manufactured yearly- of which under 2% is successfully recycled. Staggeringly, 32% of this product is poured out into the natural environment, as a result of insufficient processing and waste collection infrastructure. Given this realism, policymakers, manufacturing companies, and brands globally are examining techniques to remove the destructive pollution triggered by leakage and to improve recycling rates. Thus, there has been an enormous endeavor to foster packaging that can be recycled in numerous end-of-life environments. As a result, the demand for the product is subjected to strengthen rapidly.

Biopolymers Market Report Highlights

• Based on product, polylactic acid (PLA) emerged as the fastest-growing segment with a CAGR of 8.8% from 2024 to 2030 due to the rocketing utilization of polylactic acid in numerous end-use industries such as packaging, automotive & transport, agriculture, electronics, and other applications
• Based on application, seed coating emerged as the fastest growing segment with the highest CAGR of 9.1% from 2024 to 2030, on the account of rising investments in agricultural practices and increasing demand for genetically modified seeds, which in turn, is responsible for the increased utilization of the product in this field of application
• Based on end-use, the consumer goods emerged as the fastest growing segment with a CAGR of 10.0% over the forecast period, due to the rapid shift in the focus of numerous consumer goods manufacturers towards the use of bio-based products from the traditionally used products
• North America emerged as the fastest-growing region with a significant CAGR over the forecasted period. This is attributable to the increasing consumption of bio-based products such as bioplastics, and biopolymers in vast areas of application industries

Biopolymers are polymeric products derived from raw materials like sugarcane, and corn, as well as residual wood and standing timber. Biopolymers are biodegradable, in contrast to the conventional polymers or plastics, which results in global warming and pollution. The surge in perception of the usage of bio-based polymers is predicted. As a result, biopolymers are regarded as a more sustainable replacement to traditionally used petroleum-based plastics, because they can be broken down by natural methods and do not pose a risk to the ecosystem.

Customers are becoming extra sensible about their carbon footprint and are asking for more eco-friendly products. Administrations around the globe are also taking measures to decrease plastic waste by enforcing sanctions on single-use plastics and advocating the use of natural packaging solutions. This inclination is expected to continue over the forecasted period, as businesses and consumers become more responsive to the impact that conventional petrochemical-based plastics have on the ecosystem.

On the other hand, the elevated cost of manufacturing biopolymers is predicted to restrict market growth. Biopolymers are more expensive than conventional petroleum-based plastics. Bio-based ethylene, for instance, is more costly than petroleum-based ethylene. Regardless of strengthening customer pressure for renewable products as well as government regulation/ guidelines on the utilization of virgin plastics, the expansion of the biopolymer sector is being ‘held back’ by differences in product quality and costs.

Biopolymers Market Report Scope

The development of cost-effective biopolymers is one of the major strategies undertaken by numerous manufacturing companies around the globe. In addition, major manufacturers dominate the market with various strategy initiatives such as product launches, expansion, mergers & acquisitions, and certifications for their products. For instance, in April 2023, NatureWorks introduced the latest ‘Ingeo’ biopolymer solution for increased strength and softness in biobased nonwovens for hygiene applications.

Key Biopolymers Companies:

• Biopolymer Industries
• BASF SE
• Solanyl Biopolymers
• BioPolymer GmbH & Co. KG
• Ecovia Renewables Inc.
• BiologiQ, Inc.
• ADM
• DuPont
• Novamont
• BIOTEC