Biopolymers market expected to reach $47.4 billion by 2032 due to growing demand for sustainability

From GlobeNewswire: 2024-12-21 09:00:00

The biopolymers market is growing rapidly, with a value of USD 17.5 billion in 2023 expected to reach USD 47.4 billion by 2032, growing at a CAGR of 11.7%. This growth is driven by the demand for sustainable materials and innovations in biopolymer technologies, supported by regulations like the EU’s Green Deal.

Key players in the biopolymers market include BASF, Bio-on, and DuPont, among others. The market scope includes market size, segments analysis, competitive landscape, and regional analysis. Factors driving market growth include rising environmental awareness and innovative production technologies.

Consumer trends show a shift towards sustainability, with over 70% of consumers preferring brands committed to sustainability. This trend is driving demand for biopolymers, particularly in packaging and cosmetics. The packaging segment dominated the market in 2023, driven by demand for eco-friendly solutions like PLA and PHA due to regulatory pressures and environmental awareness.

Recent developments include BASF partnering with Hong Kong footwear companies for sustainable materials and India launching a biopolymer demonstration facility. North America led the biopolymers market in 2023, with key players, R&D investments, and consumer demand for sustainable products driving growth. The market continues to expand as industries adopt biopolymers in response to consumer preferences and environmental concerns. The biopolymers market is experiencing rapid growth due to regulatory pressures and technological advancements. Biopolymers offer biodegradability, performance, and versatility across various applications. A comprehensive research report includes market definition, executive summary, research methodology, market dynamics impact analysis, statistical insights, competitive landscape, market segmentation, regional analysis, and company profiles. For more information, visit the link provided. SNS Insider is a leading market research and consulting agency providing clients with the knowledge they need to make informed decisions in a changing market environment. Contact [email protected] for customized research options.



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