Bioplastics Market Share

European Market Forecast

The market in Europe is predicted to account for the largest share of more than 41% by the end of 2037. The expansion of the market can be driven by the growing adoption of bioplastics in various sectors. As a result of the region's plastic prohibition and to meet the growing demand for sustainable alternatives to traditional plastics, Europe is poised to become a major producer of bioplastics. For instance, one of the main consumers of plastic packaging in the area is the food and beverage industry since it has benefits including minimal environmental impact.

Additionally, bioplastics are being increasingly used in the automotive industry in the European region to benefit from factors such as weight reduction and increased fuel efficiency. In addition, bioplastics are used in the production of consumer items including toys and electronics, which are becoming more and more popular in the area.

Asia Pacific Market Statistics

Bioplastics market in Asia Pacific, is estimated to be the second largest, during the forecast timeframe. The market progress in the region is impelled by raising consciousness about plastic trash in developing nations. For instance, countries in the region are working harder to combat plastic pollution in the rivers and oceans, and also have implemented bans on the usage of single-use plastics, which is expected to rise the demand for alternatives including bioplastics. As people are becoming more conscious about plastic trash and their negative environmental impacts they are increasingly shifting towards the use of bioplastics. Furthermore, along with the United States, Germany, Brazil, and Canada, China is one of the top five nations producing bioplastics, and it is predicted that China will produce over 6 million and 1 million tonnes, respectively, of the two primary forms of biodegradable plastic, PBAT, and PLA, by 2025, that will make up two-thirds of the world's output.