The global bioplastics market is expected to grow from $6.3 billion in 2021 to $18.7 billion by 2031, with a compound annual growth rate (CAGR) of 11.7%. The growth is driven by eco-friendly attributes, government support, and consumer demand for sustainable products. However, high production costs and limited functional capabilities are challenges impeding market growth. Despite these challenges, the report highlights promising opportunities, including reduced dependence on fossil fuels, advancements in R&D, and corporate social responsibility.
The report provides a comprehensive analysis of the bioplastics market, including market dynamics, regional insights, and competitive landscape. Key players profiled in the report include Corbion N.V., Dow Inc., Kuraray Co. Ltd., and others. The report also provides insights into recent developments in the bioplastics industry, including rising investments in R&D, introduction of innovative materials, and growing market demand.
The report is a valuable resource for businesses, stakeholders, and new entrants seeking to understand the global bioplastics market. By offering detailed insights into investment opportunities, technological advancements, regional trends, and competitive strategies, the report equips industry participants with the knowledge to make informed, strategic decisions and foster sustained growth in the bioplastics sector.