bioplastics market growth (1)

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As per the latest report by Renub Research titled "Bioplastic Market, Size, Global Forecast 2022-2027, Share, Growth, Industry Trends, Impact of COVID-19, Opportunity Company Analysis" the Global Bioplastic Market Size was USD 6.7 Billion in 2021. Bioplastic is recognized as a very positive and essential innovation in the plastics and chemicals industry. Bioplastic is materials emanated from renewable sources that can reduce plastic waste generation on the planet. It can reduce 30-70% of carbon dioxide emissions. It represents an approximately 42% reduction of carbon footprints. The production of bioplastic requires 65% less energy than conventional petroleum plastic. These bio-based plastics are generally sourced from renewable biomass sources, including vegetable fats, natural sugars, cellulose, plant starch, and waste oils.

 

Over the short term, significant factors driving the market studied are environmental factors promoting a paradigm shift and increasing demand for bioplastics