The market research institute Ceresana has issued its 6th industry analysis of the global market for bioplastics, comprising both biodegradable and biobased plastics. The study notes the increase in applications and higher growth rates over conventional standard plastics, with analysts expecting revenues to increase to approx. US $8.1 billion by 2030.
Biodegradable plastics, for example polylactic acids (PLA) and starch polymers, achieved a market share of 65% of the total bioplastics market in 2020. This product group should be seeing further growth of 10.2% per year until 2030. For biobased plastics, such as polyethylene, PET or PA, which are not biodegradable, growth is expected to be lower at 7.5% per year.
[The report analyses](The report analyses)Ceresana how the use of bioplastics is developing in different sales markets. In 2020 the major sales market for bioplastics was the packaging industry, where over 58% of all bioplastics were processed. Ceresana expects the highest growth in the market for bags and sacks with 11.1% per year.