The global bioplastics market is expected to grow significantly at a CAGR of over 20% during the forecast period. Bioplastics are the most suitable alternative for the plastics. Bioplastics are utilized in various industries across packaging, automobile parts manufacturing, construction, consumer good, and many others. The primary factors driving the growth of the global bioplastics market include the increased need to curb plastic waste. Several government initiatives and policies implemented in order to replace plastics with a better alternative that causes less pollution also tend to drive the growth of the market. Further, the paradigm shift of the consumers towards the use of environmentally friendly products is projected to drive the growth of the global bioplastics market during the forecast period.
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Increased packaging applications are also driving market growth, as packaging is one of the vital industries that demands various types of plastics for the packaging. Thus, the increased use of bioplastics and biopolymers in the bottles, films, carrier bags, mulch films, clamshell cartons, waste collection bags, and food service-ware are likely to boost the demand for bioplastics and hence tend to drive the growth of the market.
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However, not all the plastics are biodegradable and easily degrade, some of the non-biodegradable bioplastics includes bio-polyethylene terephthalate (PET), bio-polyethylene, bio-polyamides, bio-polytrimethylene terephthalate, and other non-biodegradable plastics which are highly utilized in the food and beverages packaging industries which may impact the environment and maybe less recommended as compared with the biodegradable bioplastics. Whilethe shift of end-users preferences towards the use of bioplastics is likely to create ample opportunities for market growth in the near future.

Segmental Outlook
The global bioplastics market is segmented on the basis of type and applications. Based on the type, the market is mainly bifurcated into biodegradable and non-biodegradable. Biodegradable is further segmented into starch-based, polylactic acid (PLA), polyhydroxyalkanoates (PHA), polyester, and cellulose derivatives. Non-biodegradable sub-segment is further sectioned into bio-polyethylene terephthalate (PET), bio-polyethylene, bio-polyamides, bio-polytrimethylene terephthalate, and other non-biodegradable plastics. Whereas, based on the application, the market is segmented into packaging (including flexible packaging and rigid packaging), automotive &assembly operations, agriculture &horticulture, construction, consumer goods, and others.

Biodegradable Segment to Hold Significant Share in the Market
Amongst the type of the global bioplastics market, the biodegradable bioplastics are expected to hold the major share in the market across the globe. The segmental growth is accredited to the increased demand for renewable plastics across various industries due to the growing environmental concerns. Biodegradable bioplastic includes starch-based, polylactic acid (PLA), polyhydroxyalkanoates (PHA), polyester, cellulose derivatives, among which PLA is one of the common use and demanded bioplastic material. While novel and innovative biopolymers such as polypropylene and polyhydroxyalkanoates are projected to show positive growth.

Regional Outlook
Based on the geographical viewpoint, the global bioplastics market is segmented into North America, Europe, Asia-Pacific and the Rest of the World. North American region is estimated to contribute significantly to the market owing to the presence of various large manufacturers across various industries such as aviation, automobiles part manufacturers,and others. Further, the Asia-Pacific region is projected to hold a prominent share in the market owing to the several government initiatives regarding the waste management across economies such as China, India, and Japan.
Further, the European region is indulged in various R&D activities regarding the bioplastics. Bioplastics are projected to increase in the region in the near future owing to suitable policies and laws implemented by the government especially in the countries of Italy, France, and others.

Market player Outlook
The prominent players operating in the global bioplastics market include BASF SE, Toray Group,ThyssenKrupp AG,Solvay SA, Corbion N.V., Mitsubishi Chemical Corp.., Evonik Industries AG, NatureWorks LLC, Braskem,and others.The market players are adopting various strategies such as new product launches and approvals, merger and acquisition, partnerships and collaborations, and many others to thrive in a competitive environment.

For instance, in November 2019, Braskem and Advanced Laser Materials (ALM) announced the joint partnership for the development of advanced polyolefins for additive manufacturing. Braskem and ALM expect to introduce their first product collaboration in the first half of 2020.

The Report Covers
Market value data analysis of 2018 and forecast to 2025.
Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the global bioplastics market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market-entry and market expansion strategies.
Competitive strategies by identifying ‘who-stands-where’ in the market.
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