The Bioplastic Companies Quadrant is a comprehensive industry analysis that provides valuable insights into the global market for Bioplastics. This quadrant offers a detailed evaluation of key market players, technological advancements, product innovations, and emerging trends shaping the industry. MarketsandMarkets 360 Quadrants evaluated over 150 companies of which the Top 15 Bioplastic Companies were categorized and recognized as the quadrant leaders.

Bioplastics are plastics derived from renewable sources such as corn, potatoes, rice, soy, sugarcane, wheat, and vegetable oil. Bioplastics may or may not be biodegradable. They are mainly segmented into biodegradable and non-biodegradable plastics for various applications in packaging, consumer goods, automotive & transportation, agriculture & horticulture, medical, and other end-use industries.

The 360 Quadrant efficiently maps the Bioplastic companies based on criteria such as revenue, geographic presence, growth strategies, investments, channels of demand, and sales strategies for the market presence of the bioplastic’s quadrant. While the top criteria for product footprint evaluation included Product Type (Biodegradable (PBAT, PBS, PLA, PHA, Starch Blends, Cellulose Films, Others), Non-biodegradable (Bio-PE, Bio-PA, Bio-PET, PTT, PEF, Bio-PP, Others)), Grades, Raw Material (Sugarcane, Potato, Cornstarch, Switchgrass, Vegetable Oil, Cassava, Wheat, Others), End-use Industry (Packaging, Textile, Consumer Goods, Automotive & Transport, Agriculture & Horticulture, Building & Construction, Coating Adhesives, Electrical & Electronics, Others).

Key trends highlighted in 360 Quadrants:

• In 2022, the global market size for bioplastics amounted to USD 11.5 billion. It is anticipated to experience substantial growth, reaching USD 27.3 billion by 2027, with a CAGR of 18.9% during this timeframe. Driving factors for the bioplastics market include the growing utilization of bioplastics in packaging, stringent waste management regulations in Europe, heightened governmental emphasis on green procurement policies, a shift towards bio-based content over biodegradability, and an increasing consumer preference for environmentally friendly plastic products. The dynamics of the Bioplastics industry are advancing at a rapid pace. Bioplastic companies are modifying their Bioplastics portfolio in order to meet the ever-evolving demand of various applications.
• The biodegradable bioplastics segment accounted for the highest share of nearly 60% in terms of volume in 2022. The growth is primarily attributed to increased production capacities and a shift in consumer preferences toward biodegradable products. Moreover, the role of government has fostered the growth by promoting awareness and restrict plastic consumption. Some of the notable bioplastic companies include NatureWorks, BASF, TotalEnergies, Novamont, Biome Bioplastics, Mitsubishi Chemical, Toray, and others.
• In terms of the raw materials, sugarcane stands out as the primary raw material for the production of bioplastics, with this segment expected to experience a significant CAGR of nearly 20.2% throughout the forecast period. Bioplastics derived from sugarcane ethanol exhibit identical physical and chemical properties to conventional plastics while retaining full recyclability. The carbon footprint of sugarcane ethanol bioplastics is notably lower than that of traditional plastic, owing to sugarcane's absorption of CO2 from the air during its growth. Applications of sugarcane-based bioplastics encompass the creation of bags, covers, tubes, films, wraps, and stretch films.
• In 2022, the Asia Pacific region was the largest market for Bioplastic companies. It is expected to be the fastest growing region majorly due the progress in technology and ongoing expansion of production capabilities enable manufacturers to lower costs, enhancing the appeal of bioplastics. Moreover, innovative bioplastic companies are actively pursuing greater environmental protection and sustainability. These combined factors present abundant opportunities for the global growth of the bioplastics and market.
• Another primary reason that is driving the growth of bioplastic companies is the increasing recognition of sustainable plastic solutions and the push to reduce the usage of non-biodegradable conventional plastics contribute to the expansion of the bioplastics market. Conventional plastics, primarily derived from petroleum, have a prolonged degradation period lasting decades and often end up in landfills for an extended duration. In contrast, biodegradable plastics break down more rapidly upon disposal, seamlessly integrating back into the natural ecosystem. The decomposition rate of biodegradable plastics, facilitated by microorganisms, surpasses that of traditional plastics. This heightened consumer awareness is motivating a greater number of individuals to transition towards bioplastics.
• Bioplastic companies are adopting various strategies such as geographic expansions, new product launches, partnerships, and acquisitions to accelerate their position in the market. Some Bioplastics companies are focusing on launching new products and expanding their manufacturing units in the emerging economies of Asia Pacific and the Middle East & Africa to meet the growing demand. For instance, in November 2022, Be Good Friends (BGF) and TotalEnergies Corbion established a long-term partnership aimed at developing applications and supplying Luminy PLA. Both leading players in the bioplastic industry are committed to advancing the creation and production of biodegradable materials and products.