Bioplastics Market, Size, Share, Global Forecast 2022-2027
Global Bioplastics Market is expected to reach US$ 9.9 Billion by 2027. Bioplastics have been regarded as a potential solution to address environmental and economic challenges in recent years. Bioplastics is a sustainable material from renewable feedstock and an alternative to petroleum-based plastics, reducing 30-70% of carbon dioxide emissions. It represents an approximately 42% reduction of carbon footprints. Remarkably, bioplastics represent the fastest growing product line for bio-based products. Moreover, the adoption of bioplastics has increased tremendously across various applications, owing to the advanced technical properties and functionalities. Besides, the demand for bioplastics has gained incredible traction across multiple plastic applications due to the encouraging legislation implemented by various governments around the globe.