Bioplastics Market, By Product (Biodegradable and Non-biodegradable), By Application (Packaging, Agriculture, Consumer goods, Textile, Automotive & Transportation, Building & Construction, and Others), By Geography (North America, Europe, Asia Pacific, Latin America, Middle East and Africa), By Geography (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)

Published In : Apr 2024

Code : CMI4098

Pages :120

Formats :

Excel and PDF

Industry : Advanced Materials

Market Concentration and Competitive Landscape

Bioplastics Market Concentration By Players

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Changing Consumer Behavior

Evolving consumer attitudes and preferences towards sustainable products have also propelled growth in the bioplastics industry. Today's socially conscious consumers, especially millennials and Gen Z, consider a company's environmental and social impact before making purchasing decisions. They are willing to pay premium prices for products that are plastic-free or made from recyclable/compostable materials. Major food retail chains and restaurants have responded proactively by removing all single-use plastics from their outlets and substituting them with bioplastic alternatives for clear bags, straws, cutlery, etc. Even traditional consumer brands in packaging, textiles, automotive and electronics have committed to increasing the bio-content of their products and packaging annually. As consumer activism and social media amplify calls to 'refuse single-use plastics', businesses recognize the market potential in catering to this segment demanding sustainable options.

Key Players Insights