At 10.5% CAGR, the North America Bioplastics and Biopolymers Market is projected to be worth US$ 3,040.20 million by 2030 says Business Market Insights

According to Business Market Insights research, the North America bioplastics and biopolymers market was valued at US$ 1,513.09 million in 2023 and is expected to reach US$ 3,040.20 million by 2030 registering a CAGR of 10.5% from 2023 to 2030. Increasing regulations and policies against traditional plastic and rising demand for eco-friendly plastics in packaging industry are the critical factors attributed to the North America bioplastics and biopolymers market expansion.        

Polylactic acids (PLAs) are the most typically used bioplastic in food packaging, whereas polyhydroxyalkanoates (PHAs) are often used in medical applications, including sutures and cardiovascular patches. PLA has properties similar to polyethylene and polypropylene. Its advantages, such as high rigidity, transparency, stability, and superior performance, make it highly usable in food packaging. Further, producing PLA plastic saves two-thirds of the energy required for fabricating fossil fuel-based plastics. PLAs emit almost 70% fewer greenhouse gases than conventional plastics during the degradation in a landfill.

Bioplastic and biopolymer packaging options include bags for agricultural foils, compost, nursery products, horticultural products, toys, and textiles. They are usually utilized for disposable cups, plates, salad bowls, clingfilm, and food containers. The development of sophisticated bioplastic and biopolymer packaging for food products has notably enhanced the shelf life of food. Its use helps brands connect with their customers by showing they are conscious of their environmental footprint. Bioplastics and biopolymers offer an alternative approach to packaging and are a real solution to reduce traditional plastic use and waste. Factors such as growing environmental concerns and a global endeavor to lessen pollution are driving the demand for biodegradable plastics in the packaging sector across the globe. Thus, the growing demand for eco-friendly plastics in the packaging sector is a major factor boosting the growth in North America bioplastics and biopolymers market during the forecast period.

On the contrary, lack of infrastructure and recycling facilities for bioplastics and biopolymers hampers the North America bioplastics and biopolymers market.  

Based on product type, the North America bioplastics and biopolymers market is segmented into polyethylene, polyethylene terephthalate, polylactic acid, polytrimethylene terephthalate, polybutylene adipate terephthalate, polybutylene succinate, cellulose, blends, and others. The blends segment held 25.7% share of North America bioplastics and biopolymers market in 2023, amassing US$  388.76 million. It is projected to garner US$ 849.16 million by 2030 to expand at 11.8% CAGR during 2023–2030.

Based on end-use industry, the North America bioplastics and biopolymers market is divided into packaging, consumer goods, automotive, textile, building and construction, medical, agriculture, and others. The packaging segment held 48.3% share of North America bioplastics and biopolymers market in 2023, amassing US$ 730.86  million. It is projected to garner US$ 1,546.40 million by 2030 to expand at 11.3% CAGR during 2023–2030.

Based on country, the North America bioplastics and biopolymers market is segmented into the US, Canada, and Mexico. Our regional analysis states that the US captured 77.4% share of North America bioplastics and biopolymers market in 2023. It was assessed at US$ 1,170.39 million in 2023 and is likely to hit US$ 2,375.31 million by 2030 exhibiting a CAGR of 10.6% CAGR during 2023–2030.      

Key players operating in the North America bioplastics and biopolymers market are Arkema SA, BASF SE, Braskem SA, Cardia Bioplastics Australia Pty Ltd, Corbion NV, Eastman Chemical Co, Mitsubishi Chemical Holdings Corp, Mitsui Chemicals Inc, Novamont SpA, and Saudi Basic Industries Corp, among others.

Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com