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The bioplastics for agribusiness market size is forecast to increase by USD 1.37 billion at a CAGR of 18.63% between 2023 and 2028. The Bioplastics For Agribusiness sector is experiencing significant growth, driven by increasing environmental sustainability concerns and government regulations. companies are focusing on the development of innovative bioplastics to meet the demand for eco-friendly alternatives to conventional plastics. However, the cost-effectiveness of conventional plastics remains a challenge for the bioplastics market. Despite this, the market is expected to grow at a steady pace due to the rising awareness of the environmental impact of traditional plastics and the potential for bioplastics to reduce carbon emissions and waste. Additionally, advancements in biotechnology and the availability of renewable feedstocks are expected to drive down production costs and increase the competitiveness of bioplastics in the market.
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Bioplastics are a type of plastic derived from renewable biomass sources, such as agricultural byproducts and fossil fuel feedstocks. In the context of agribusiness, bioplastics offer several advantages for agricultural applications. Biodegradable bioplastics made from bio-based polymers, such as Aliphatic Polyesters, Cellulose-Based Bioplastics, Organic Polyethylene, Polylactic acid, Polyhydroxyalkanoates, and Protein-based bioplastics, are gaining popularity in agribusiness due to their composability and environmental benefits. These bioplastics are used in various agricultural applications, including greenhouse materials, planting containers, and controlled-release fertilizers. Bioplastics can also be used as mulch in agriculture to improve crop yield and farming practices. In addition, bioplastics are used in waste management and irrigation systems to reduce the environmental impact of plastic waste. Environmental regulations are driving the adoption of bioplastics in agribusiness. Biodegradable bioplastics, such as starch-based bioplastics and compostable bioplastics, offer a sustainable alternative to traditional plastic materials. Compostable bioplastics can decompose in a short period, reducing the amount of plastic waste in landfills and the environment. The market in the agribusiness sector is expected to grow significantly due to the increasing demand for sustainable agricultural practices and the need to reduce plastic waste. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increasing focus on environmental sustainability is notably driving market growth. Bioplastics have emerged as a promising solution for the agribusiness sector, offering sustainable alternatives to traditional petroleum-based plastics. These biodegradable biomaterials are derived from renewable resources such as bio-based polymers, including Aliphatic Polyesters, Cellulose-Based Bioplastics, Organic Polyethylene, Polylactic acid, Polyhydroxyalkanoates, Protein-based bioplastics, and Starch-based bioplastics.
Moreover, agricultural applications of bioplastics include biodegradable mulch films for improved crop yield, farming practices, and waste management. Biodegradable bioplastics, compostable bioplastics, and degradable bioplastics are gaining popularity due to their ability to reduce greenhouse gas emissions and address environmental issues. Thus, such factors are driving the growth of the market during the forecast period.
Increasing focus of companies on development of innovative bioplastics is the key trend in the market. Bioplastics have gained significant attention in the agribusiness sector due to their biodegradable and bio-based properties. These eco-friendly alternatives to traditional petroleum-based plastics offer numerous agricultural applications, including compostability and waste management.
Moreover, bioplastics, such as aliphatic polyesters, cellulose-based bioplastics, organically derived polyethylene, and starch-based bioplastics, are increasingly used in farming practices for greenhouse materials, package films, planting containers, and controlled-release fertilizers. The adoption of bioplastics promotes sustainable agricultural practices, energy efficiency, and reduces toxicity and greenhouse gas emissions. Environmental regulations, such as the Single-Use Plastics Directive and green procurement incentives, are driving the market growth. Thus, such trends will shape the growth of the market during the forecast period.
Cost-effectiveness of conventional plastic over bioplastics is the major challenge that affects the growth of the market. Bioplastics have gained significant attention in the agribusiness sector due to their biodegradable and bio-based properties. These eco-friendly alternatives to traditional petroleum-based plastics offer numerous agricultural applications, including compostability and waste management.
Moreover, bioplastics are made from various biodegradable polymers, such as Aliphatic Polyesters, Cellulose-Based Bioplastics, Organic Polyethylene, Starch-based bioplastics, Polylactic acid, Polyhydroxyalkanoates, and Protein-based bioplastics. These biomaterials can be used for creating biodegradable mulch films, planting containers, greenhouse materials, controlled-release fertilizers, and various components in irrigation systems. Hence, the above factors will impede the growth of the market during the forecast period
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Arkema SA: The company offers bioplastics for agribusiness such as long-chain biosourced polyamides Rilsan polyamide 11 range, which includes biobased thermoplastic elastomers.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The biodegradable segment is estimated to witness significant growth during the forecast period. Bioplastics have emerged as a promising solution for the agribusiness sector, offering sustainable alternatives to traditional petroleum-based plastics. These biodegradable biomaterials are derived from renewable resources, such as bio-based polymers, including Aliphatic Polyesters, Cellulose-Based Bioplastics, Organic Polyethylene, Polylactic acid, Polyhydroxyalkanoates, and Protein-based bioplastics.
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The biodegradable segment was the largest segment and was valued at USD 468.10 million in 2018. These bioplastics find extensive applications in agricultural practices, such as biodegradable mulch films for greenhouses, planting containers, and greenhouse materials. The use of bioplastics in agribusiness addresses various environmental issues, including waste management and energy efficiency. Biodegradable bioplastics, compostable bioplastics, and degradable bioplastics are ideal for agricultural applications due to their ability to break down naturally in the environment. This reduces the reliance on single-use plastics and aligns with sustainable agricultural practices. Hence, such factors are fuelling the growth of this segment during the forecast period.
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Europe is estimated to contribute 36% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Bioplastics, specifically Polybutylene Succinate (PBS), are gaining significant attention in the agribusiness sector due to their eco-friendly properties. These bioplastics are compostable and degradable, making them ideal for use in various agricultural applications such as irrigation systems and mulch films. The use of bioplastics in agriculture reduces the carbon footprint by minimizing the reliance on conventional plastic products, which are non-biodegradable and contribute to environmental pollution. Hence, such factors are driving the market in Europe during the forecast period.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion " for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
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Bioplastics have emerged as a promising solution for Agribusiness, offering sustainable alternatives to traditional plastic products. Bioplastics are derived from renewable biomass sources, such as corn, sugarcane, and potato starch, making them eco-friendly and biodegradable. These bio-based polymers find extensive applications in Agricultural applications, including biodegradable mulch films, greenhouse materials, planting containers, and irrigation systems. Composability and biodegradability are key features of bioplastics, making them ideal for Waste management in Agribusiness. Bioplastics help reduce the environmental impact of plastic waste and contribute to Sustainable agricultural practices. They also offer Energy efficiency and reduce the use of fossil fuels in the production of plastic products. However, the adoption of bioplastics in Agribusiness is influenced by factors such as Toxicity, Greenhouse gas emissions, and Environmental regulations. Biodegradable bioplastics, such as Aliphatic Polyesters, Cellulose-Based Bioplastics, Organic Polyethylene, and Starch-based bioplastics, are gaining popularity due to their environmental benefits. Government initiatives, such as Grants and funding, and Green procurement incentives, are propelling the growth of the Bioplastics market in Agribusiness. The Single-Use Plastics Directive is also driving the demand for bioplastics as a sustainable alternative to single-use plastics. Bioplastics find extensive applications in various sectors of Agribusiness, including Controlled-release fertilizers, Greenhouses, and Silage storage. The market for bioplastics in Agribusiness is expected to grow significantly due to the increasing focus on Sustainable products and the need to address Environmental issues. In conclusion, Bioplastics offer a sustainable and eco-friendly solution for Agribusiness, addressing the need for Biodegradable and compostable products while reducing the environmental impact of plastic waste. The market for bioplastics in Agribusiness is expected to grow significantly due to the increasing focus on Sustainable agricultural practices and the need to address Environmental regulations.
Market Scope |
|
Report Coverage |
Details |
Page number |
201 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 18.63% |
Market growth 2024-2028 |
USD 1.37 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
17.46 |
Regional analysis |
Europe, APAC, North America, South America, and Middle East and Africa |
Performing market contribution |
Europe at 36% |
Key countries |
US, China, Germany, France, UK, and Italy |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
ADBioplastics , Arkema SA, Avantium, BASF SE, Biome Bioplastics Ltd., Braskem, Eastman Chemical Co., Fkur Kunststoff GmbH, Futamura Group, Futerro SA, good natured Products Inc., Green Dot Bioplastics Inc., KURARAY Co. Ltd., Mitsubishi Chemical Group Corp., Novamont S.p.A., Polymateria Ltd, PTT Global Chemical Public Co. Ltd., Secos Group Ltd., Tipa Ltd., and TotalEnergies SE |
Market dynamics |
Parent market analysis, market report , market forecast , Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Technavio Analysis
3 Market Landscape
4 Market Sizing
5 Historic Market Size
6 Additional Value/Volume Data
7 Five Forces Analysis
8 Market Segmentation by Type
9 Market Segmentation by Application
10 Customer Landscape
11 Geographic Landscape
12 Drivers, Challenges, and Opportunity/Restraints
13 Competitive Landscape
14 Competitive Analysis
15 Appendix
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