Bioplastics economic growth and market forecast

The economic volume generated by the bioplastics industry was estimated at approximately 2,470.6 kilotons in 2021. This economic output is an amalgamation of businesses that are involved in the raw material suppliers, compounding of bioplastics & their additives, distribution & supply, and application of bioplastics.

The global biopharma plastics market size is expected to reach USD 11,290.12 million by 2030, expanding at 11.3% CAGR from 2023 to 2030, according to a new study by Grand View Research, Inc. The rise in global healthcare expenditure for research & development of biopharma plastics is anticipated to drive the market. In addition, the rising demand for biopharmaceuticals, owing to the increasing cases of cancerous patients across the globe, is anticipated to propel the demand for biopharma plastics.

The bioplastics market is temperately concentrated with the presence of key players such as BASF SE, Avantium, NatureWorks LLC, SABIC, Total Corbion PLA, Biome Technologies plc, and TEIJIN LIMITED along with some other new and growing market players. 

Biome Technologies plc (LON:BIOM) is a growth oriented, commercially driven technology group. The Group’s primary activity is the development of its fast growing business in bioplastics. The Group comprises two divisions: Biome Bioplastics and Stanelco RF Technologies.

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