Bio-Plastic Industry Size, Share & Demand
The global bio-plastic market size, valued at USD 96.6 billion in 2023, is poised for substantial growth driven by increasing consumer education and awareness. This burgeoning awareness of environmental sustainability and the advantages of bioplastics over conventional plastics is expected to create significant opportunities in the market. As a result, the bio-plastic sector is projected to expand at a remarkable compound annual growth rate (CAGR) of 30.2% from 2023 to 2033, reaching an impressive valuation of approximately USD 1,353.3 billion by 2033. One of the major factors contributing to the growth of the bio-plastic market is the reduction in greenhouse gas emissions. Bio-plastics often have a lower carbon footprint compared to traditional plastics, contributing to efforts to reduce greenhouse gas emissions and combat climate change. Bio-plastics are being used in innovative packaging solutions, such as edible packaging, which can reduce food waste and offer convenience...