Bioplastics Market is Dominating Worldwide With Prominent Segments | Biodegradable Plastic and Non-Biodegradable Plastic

Renewable raw material sources, and eco-friendly properties that comply with government policies drive the growth of the global bioplastic market.

OREGON, PORTLAND, UNITED STATES, March 16, 2022 /EINPresswire.com/ -- High consumer acceptance, favorable government policies, renewable raw material sources, and eco-friendly properties drive the growth of the global bioplastics market. Based on type, the biodegradable plastic segment dominated the industry in 2020. Based on region, on the other hand, the market across Asia-Pacific accounted for the highest market share and is expected to lead the dominance throughout the forecast period.

Renewable raw material sources, and eco-friendly properties that comply with government policies drive the growth of the global bioplastic market. However, high cost of end-users and limited performance hamper the market growth.

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COVID-19 impact analysis:

The outbreak of the COVID-19 pandemic left a significant impact on the global economy. The bioplastics market report provides a detailed study of the micro- and macro-economic impacts of the pandemic. Moreover, the analysis depicts the direct impact of COVID-19 on the bioplastics market. It recapitulates the detailed information about the market extent and shares owing to the impact of the outbreak. The report also emphasizes on the supply chain and the sales of the bioplastics market. Last but not the least; the study also exhibits a post-COVID-19 scenario, portraying different measures and initiatives taken by the government bodies across the world.

The bioplastics market is segmented on the basis of type, application, and region. Based on type, the biodegradable plastic segment held the largest share in 2020, accounting for more than half of the global bioplastics market. On the other hand, the segment is expected to register the highest CAGR of 12.03% during the forecast period.

Based on region, the Asia-Pacific is projected to manifest the highest CAGR of 12.35% during the forecast period. In addition, the regions also held the lion's share in 2020, accounting for more than two-fifths of the total revenue. Other regions studied in the report include LAMEA, North America, and Europe.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧: @ https://www.alliedmarketresearch.com/request-for-customization/726

Major Inclusions-

• Qualitative as well as quantitative assessment of the market on the basis of the detailed categorization involving both the economic and non-economic factors.
• Analysis at country and regional level, which portrays the share of the product or service in different regions.
• Elaborative company profiles section, which provides different pointers such as key executives, business enactment, company overview, product/service portfolio, R&D expenditure, current scenario, and prime strategies of the key market players.
• The forecasted market outlook of the bioplastics market based on recent developments, which incorporate the analysis of drivers, market trends, and growth opportunities.
• The COVID-19 impact on the bioplastics market
• Post-sales support and free customization

Major Market Players

• BASF SE
• Novamont S.p.A.
• Dow Inc.
• Natureworks
• Plantic
• Biome Technologies plc
• Corbion N.V.
• Eastman Chemical Company
• Mitsubishi Chemical Holdings
• Danimer Scientific

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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