by The Europe sustainable biopolymers market involves the production of biodegradable plastics derived from renewable biomass sources like corn starch, sugarcane and microorganisms. These bioplastics provide an eco-friendly alternative to petroleum-based plastics and are used across various applications such as packaging, agriculture, textiles and consumer goods.
The Global Europe sustainable biopolymers market is estimated to be valued at US$ 2.10 Bn in 2024 and is expected to exhibit a CAGR of 8.1% over the forecast period from 2024 to 2031.
Key Takeaways
Key players operating in the Europe sustainable biopolymers are BASF SE, Novamont S.p.A., Corbion, Biomer, Mitsubishi Chemical Corporation, Braskem, Solvay SA, Stora Enso, Natureplast, FKuR Kunststoff GmbH, Plantic Technologies, Danimer Scientific, Biotec GmbH & Co. KG, Linotech GmbH & Co. KG, and Kaneka Belgium N.V.
Europe Sustainable Biopolymers Market Size for bioplastics from the packaging industry due to stringent regulations on single-use plastics and favorable government policies supporting the adoption of bioplastics.The global expansion of the market is driven by growing international collaborations amongst key players to expand their bioplastics production capacity and focus on emerging economies in Asia and Latin America having conducive regulatory environment and increasing consumption.
Market Drivers
The Europe sustainable biopolymers market is witnessing high growth owing to rising environmental concerns around plastic waste and its circularity. Stringent government regulations banning single-use plastics and policies encouraging the use of biodegradable alternatives are expected to boost the demand for sustainable biopolymers. Additionally, growing consumer awareness about eco-friendly products and favorability towards sustainable packaging solutions will further promote the Europe sustainable biopolymers market during the forecast period.
PEST Analysis
Political: Regulatory bodies in Europe are promoting the use of sustainable materials to reduce negative environmental impact. Regulations favor biodegradable materials over conventional plastics.
Economic: Rising environmental concerns are driving demand for sustainable alternatives to petroleum-based plastics. However, high production costs of biopolymers compared to conventional plastics can hamper market growth.
Social: Growing consumer awareness about negative effects of plastic waste is increasing preference for eco-friendly biodegradable products. Demand for sustainable packaging from food and beverage industry is also rising.
Technological: Europe Sustainable Biopolymers Market Challenges and Opportunities Advancements in feedstock sources and production processes are helping lower the costs of biopolymers. Investments in research & development of novel biopolymer materials with improved properties will help increase their applications.
The European region accounting for the largest share of the Europe Sustainable Biopolymers Market in terms of value is Western Europe. Countries like Germany, France, and Italy have stringent regulations promoting use of sustainable materials. The commercial production of bioplastics also started first in Western European countries.
The fastest growing region for the Europe Sustainable Biopolymers Market is Eastern Europe. Countries like Poland, Hungary and Czech Republic are witnessing rising industrialization. Growing environmental consciousness and increasing imports of packaged food and consumer products from Western Europe is driving the market growth in Eastern Europe. Investments by key players are also helping set up production facilities and expand the market.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
About Author - Ravina Pandya
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals. LinkedIn Profile
