The Global Bio-Plastics Market is estimated to exhibit a CAGR of 14.22% during the forecast period of 2021-2028. The major factor which is expected to actively drive the demand of bio-plastics market is the rapid increased focus on bio-based content over biodegradability and rise in focus of governments on green procurement policies and regulations.
However, the high prices of bio-plastics, limited regulations related to bio-plastics in developing countries and segregation and processing of bio-plastics can challenge the growth of the bio-plastics market.
According to Data Bridge Market Research, the bio-plastics market will exhibit a significant rise in its market value. The bio-plastics market is expected to rise in demand due to the rapid shift in consumer preference toward eco-friendly plastic products, increase in use of bio-plastics in the packaging end-use industry, rapid increase in population and urbanization associated with the rise in awareness regarding health-issues in emerging economies are also expected to push the growth of the bio-plastics market in the above mentioned forecast period.
Currently, Europe will dominate the global bio-plastics market owing to the strong presence of strict governmental laws pertaining to single-use plastics, increase in environmental concerns and rise in R&D investments by private as well as public organizations..
Now the question is which are the other regions that the bio-plastics market is targeting? Data Bridge Market Research has estimated a large growth in North America owing to the high demand from the packaging industry in emerging countries, such as Canada, U.S. and Mexico as well as the rise in environmental concerns.
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Scope of the Bio-Plastics Market
The global bio-plastics market is segmented on the basis of countries into U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Key Market Competitors Covered in Bio-Plastics Market report
Above are the key players covered in the report, to know about more and exhaustive list of bio-plastics market companies’ contact us, https://www.databridgemarketresearch.com/toc/?dbmr=global-bio-plastics-market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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Global Bio-Plastics Market – Industry Trends and Forecast to 2028