The report on Bio plastics Market by materials (Bio-PE, Bio- PA, biodegradable polyesters , starch blends, PHA),
by applications ( food services, horticulture, consumer products) trends analysis and forecasts up to 2023
studies the market sizes, key trends and opportunities in the main geographies such as North America,
Europe, Asia-Pacific, Rest of the World. According to the report the Global Bio plastics Market is projected to
grow at a CAGR of 28% in terms of value over the period of 2017-2023. The growth in the world market is
primarily driven by significant contribution by North America (Leading region) region to this market.
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Market Insights
The global bio plastics market is likely to be driven by factors such as increasing prices of raw materials for
petro based plastics, bio plastics are eco-friendly, support of government bodies and institutions, however the
growth in the market is likely to be hampered by over-dependence on agriculture sources such as vegetable
oils and fats and starches. The production of these raw materials is inconsistent due to frequently changing
climate conditions.
Segments Covered
The global bio plastics market is segmented on the basis of materials and by applications type. The materials
include Bio-PET, Bio-PE, Bio- PA, biodegradable polyesters, PLA & PLA blends, starch blends, PHA and others,
while the application types include bottles, food services, agriculture & horticulture, consumer products,
automotive and others. Presently, the global bio plastics market is dominated by its applications in bottling
followed by other packaging applications.
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