The global bioplastic packaging market is set to grow significantly, increasing from US$ 21.08 billion in 2024 to US$ 103.09 billion by 2034, at a strong CAGR of 17.2%. The market is divided into biodegradable and non-biodegradable materials, with polylactic acid (PLA) and starch blends being the most common. The food and beverages sector holds the largest share, and Asia Pacific is expected to grow the fastest during the forecast period. Key players in the market include Amcor plc, Novamont S.p.A, and NatureWorks LLC. Understanding regional trends, competition, and market dynamics is essential to grasp the industrys growth.
Recent Developments
- In September 2024, CSIRO, Australias national science agency, partnered with Murdoch University to launch The Bioplastics Innovation Hub, a collaborative initiative worth $8 million. The hub will work with industry partners to create a new generation of fully compostable plastics. Its goal is to transform plastic packaging by developing biologically sourced plastics that can break down in compost, land, or water, offering a sustainable alternative to traditional plastics.
- In April 2025, HTF MI released the Global Bio-Plastic Packaging Market Study, a detailed analysis spanning over 143 pages. This study explores the product and industry scope, along with market forecasts for the period between 2025 and 2032. The market study includes segmentation by key regions, which is helping accelerate the marketization process. The bio-plastic packaging market is currently experiencing growth and expanding its reach.
- In October 2024, Swedish greentech company Lignin Industries AB announced the mass commercialization of its Renol technology, a bio-based material derived from lignin, a natural polymer typically found in trees. The company claims to have developed a method that eliminates the need for fossil fuel-based plastics by converting lignin into renewable, circular bioplastics. Lignin plays a crucial role in providing structure to plants, aiding in water retention, and preventing toxins from entering, making it a sustainable alternative for plastic production.
- In August, 2023, AIMPLAS, the plastics technology research center, initiated a project to develop eco-friendly and sustainable bio-based plastic materials. The AIMPLAS is funded by the Horizon programme, foundation providing fund for developing biodegradable materials, based in U.K.
- In July, 2024, Essentra PLC, manufacturing company, initiated development of new bioplastic materials at its own plant. The company accelerated the manufacturing of new bioplastic material to develop more sustainable product ranges which will be significantly sold by the retailers.
Bioplastic Packaging Market Key Companies
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