GITNUX MARKETDATA REPORT 2024

The Most Surprising Bioplastics Industry Statistics in 2024

With sources from: grandviewresearch.com, european-bioplastics.org, fortunebusinessinsights.com, reportsanddata.com and many more

In this post, we explore key statistics shaping the bioplastics industry, a sector experiencing significant growth and innovation globally. From market values and industry applications to regional contributions and environmental impact, these statistics offer valuable insights into the dynamic landscape of bioplastics production and consumption.

Statistic 1

"The global bioplastics market was valued at USD 17 billion in 2021."

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Statistic 2

"In 2022, the automotive sector used around 15% of all bioplastics produced."

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Statistic 3

"Biodegradable plastics constituted about 60% of the global bioplastics production in 2021."

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Statistic 4

"The construction industry uses about 5% of the total bioplastics produced globally."

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Statistic 5

"Bio-based polyethylene (Bio-PE) accounted for around 20% of the global bioplastics production in 2020."

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Statistic 6

"Latin America contributes less than 10% to the global bioplastics market."

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Statistic 7

"The medical sector accounted for about 7% of the bioplastics market in 2021."

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Statistic 8

"The global bioplastics market is anticipated to grow at a CAGR of 16.7% from 2021 to 2028."

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Statistic 9

"The production of bioplastics is expected to save around 18 million metric tons of CO2 annually by 2025."

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Statistic 10

"North America is expected to witness a growth rate of 12.5% in the bioplastics market from 2021 to 2028."

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Statistic 11

"The United States has more than 500 companies involved in bioplastics production."

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Statistic 12

"The consumer goods segment accounted for about 10% of the bioplastics market in 2021."

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Statistic 13

"Europe accounted for more than 55% of the global bioplastics production capacity in 2020."

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Statistic 14

"Bio-based polyethylene terephthalate (Bio-PET) is projected to dominate the bioplastics market."

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Statistic 15

"The agricultural segment of the bioplastics market is expected to grow at a CAGR of over 14% from 2021 to 2028."

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Statistic 16

"Asia is expected to witness the fastest growth in the bioplastics market in the next decade."

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Statistic 17

"The global capacity for bioplastics production increased by 36% from 2018 to 2021."

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Statistic 18

"Packaging accounts for over 60% of the total bioplastics market."

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Statistic 19

"Polylactic acid (PLA) holds a market share of around 25% within the bioplastics market."

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Statistic 20

"The bioplastics market is projected to reach USD 44 billion by 2028."

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Interpretation

The bioplastics industry is experiencing significant growth and diversification, with various sectors such as automotive, construction, medical, and consumer goods contributing to its expansion. Biodegradable plastics and bio-based polyethylene are key players in this market, with Europe leading in production capacity. The industry is expected to witness substantial growth in North America and Asia, with the potential to save a significant amount of CO2 emissions annually by 2025. The increasing global capacity for bioplastics production, coupled with rising demand in packaging and agricultural segments, indicates a promising future for the market, projected to reach USD 44 billion by 2028.

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