Europe Bioplastics Market Insights Forecasts to 2033

• The Europe Bioplastics Market Size was valued at USD 5.72 Billion in 2023.
• The Market Size is Growing at a CAGR of 18.42% from 2023 to 2033
• The Europe Bioplastics Market Size is Expected to Reach USD 31.02 Billion by 2033

The Europe Bioplastics Market is Anticipated to Reach USD 31.02 Billion by 2033, growing at a CAGR of 18.42% from 2023 to 2033.

Market Overview

Plastics derived from renewable sources such as vegetable oils, corn starch, and recycled food waste are known as bioplastics. These materials can be biodegradable or compostable and find applications in various industries such as food packaging, agriculture, and hygiene. Sustainable and attractive packaging can be achieved through the use of bioplastic materials. The demand for flexible packaging solutions in Europe's food industry has increased significantly in recent years. Furthermore, the rise of nutraceutical products and the support from the European Commission in regulating polymer usage in food packaging are anticipated to propel the Europe bioplastics market growth.

Report Coverage

This research report categorizes the market for the Europe bioplastics market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Europe bioplastics market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Europe bioplastics market.

Driving Factors

The Europe bioplastics market is driven by environmental concerns, government restrictions, and sustainable technology. Manufacturers use bioplastics due to corporate sustainability goals and customer demand. Biotechnology feedstocks and increased research funding encourage novel bioplastics materials. Collaboration between governments, businesses, and research organizations is important for market development.

Restraining Factors

The high manufacturing costs of bioplastics in comparison to traditional plastics, the scarcity of raw materials, and performance concerns that can limit their usage in certain applications are the main reasons impeding their growth in the European bioplastics industry. Furthermore, consumer acceptability and understanding of bioplastics are still inconsistent, which affects market penetration.

Market Segmentation

The Europe bioplastics market share is classified into product type and application

• The biodegradable segment is expected to hold the largest market share through the forecast period.

The Europe bioplastics market is segmented by product type into biodegradable, and non-biodegradable. Among these, biodegradable segment is expected to hold the largest market share through the forecast period. Because of the growing demand from consumers for products that reduce plastic waste and sustainable packaging. Manufacturers are becoming more and more drawn to biodegradable materials due to their improved qualities, like their compostability and decreased environmental impact. The market position of this segment is further reinforced by laws that are favorable to biodegradable solutions.

• The packaging segment is expected to dominate the Europe bioplastics market during the forecast period.

Based on the application, the Europe bioplastics market is divided into packaging, agriculture, consumer goods, textile, automotive & transportation, building & construction, and others. Among these, the packaging segment is expected to dominate the Europe bioplastics market during the forecast period. Manufacturers emphasize sustainable solutions to fulfill customer demand for eco-friendly packaging alternatives, while advances in bioplastics improve their applicability for a variety of packaging applications, fueling the growth of the market.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Europe bioplastics market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• BASF SE
• Biome Bioplastics
• Carbois
• Braskem S.A.
• Novamont S.P.A.
• Sabic
• Teijin Limited
• Toray Industries, Inc.
• Total Corbion PLA
• Avantium N.V.
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In July 2024, Ingevity Corporation has expanded its Capa caprolactone distribution network in Europe by appointing Ultrapolymers Group as the distributor for Capa Bioplastics.

Market Segment

This study forecasts revenue at Europe, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Europe Bioplastics Market based on the below-mentioned segments:

Europe Bioplastics Market, By Product Type

• Biodegradable
• Non-Biodegradable

Europe Bioplastics Market, By Application

• Packaging
• Agriculture
• Consumer Goods
• Textile
• Automotive & Transportation
• Building & Construction
• Others