Product Code: CMI7368
The Plant Based Plastic (Green Plastic) Market is estimated to be valued at USD 1.88 Bn in 2024 and is expected to reach USD 3.78 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 10.5% from 2024 to 2031.
Report Coverage |
Report Details |
Base Year: |
2023 |
Market Size in 2024: |
US$ 1.88 Bn |
Historical Data for: |
2019 to 2023 |
Forecast Period: |
2024 to 2031 |
Forecast Period 2024 to 2031 CAGR: |
10.50% |
2031 Value Projection: |
US$ 3.78 Bn |
Figure. Plant Based Plastic (Green Plastic) Market Share (%), By Region, 2024
Plant-based plastics, also known as green plastics, are a category of plastics derived from renewable biomass sources such as vegetable oils and starches. They provide an environmentally sustainable alternative to conventional petroleum-based plastics. Green plastics have gained popularity due to growing environmental consciousness and demands for eco-friendly products. Their biodegradability allows them to decompose more quickly when disposed of properly. Major types of green plastics include polylactic acid (PLA) made from corn starch, cellulose acetate produced from cellulose, and polyhydroxyalkanoates (PHA) derived from sugar cane and other plant lipids. They can be utilized in applications ranging from food packaging and textiles to 3D printing filaments.
Market Dynamics:
Growing environmental concerns about plastic waste and the negative impacts of extensive petroleum extraction are driving the demand for biodegradable and sustainable alternatives. Government support through regulations restricting single-use plastics along with subsidies for plant-based plastics production is encouraging manufacturers to shift toward green options. However, plant-based plastics still have higher production costs compared to fossil fuel-based equivalents which restrains their mass adoption. Ongoing research to develop cost-effective technologies for plastic polymer extraction from various biomass feedstocks could help address this challenge. Furthermore, increased partnerships across the value chain from agricultural raw material suppliers to plastic product brands offer new opportunities to promote the market potential of green plastics.
Key features of the study:
- This report provides in-depth analysis of the global the plant based plastic (green plastic) market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global the plant based plastic (green plastic) market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Corbion, BASF, TotalEnergies Corbion, Mitsubishi Chemical Corporation, NatureWorks LLC, Novamont S.p.A., Eastman Chemical Company, Braskem, Danimer Scientific, Green Dot Bioplastics, SABIC, Futerro, Genomatica, Toray Industries, Inc., Biome Bioplastics, Kaneka Corporation, Arkema, and PTT MCC Biochem Co., Ltd.
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global the plant based plastic (green plastic) market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global The plant based plastic (green plastic) market
Detailed Segmentation-
- Source Of Raw Material Insights (Revenue, USD Bn, 2019 - 2031)
- Corn Starch
- Sugarcane
- Cassava
- Others (Soy, Potato, Algae, etc.).
- Type Insights (Revenue, USD Bn, 2019 - 2031)
- PLA (Polylactic Acid)
- PHA (Polyhydroxyalkanoates)
- Starch-Based Plastics
- Other
- End-use Industry Insights (Revenue, USD Bn, 2019 - 2031)
- Packaging
- Textile
- Automotive & Transport
- Electronics & Electricals
- Coatings & Adhesives
- Agriculture & Horticulture
- Others (Building & Construction, etc.)
- Regional Insights (Revenue, USD Bn 2019 - 2031)
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- GCC Countries
- Israel
- Rest of Middle East
- Africa
- South Africa
- North Africa
- Central Africa
- Key Players Insights
- Corbion
- BASF
- TotalEnergies Corbion
- Mitsubishi Chemical Corporation
- NatureWorks LLC
- Novamont S.p.A.
- Eastman Chemical Company
- Braskem
- Danimer Scientific
- Green Dot Bioplastics
- SABIC
- Futerro
- Genomatica
- Toray Industries, Inc.
- Biome Bioplastics
- Kaneka Corporation
- Arkema
- PTT MCC Biochem Co., Ltd.
Table of Contents
1. Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
2. Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Source of Raw Material
- Market Snippet, By Type
- Market Snippet, By End-use Industry
- Market Snippet, By Region
3. Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- PEST Analysis
- PORTER's Five Forces Analysis
- Market Opportunities
- Regulatory Scenario
- Key Developments
- Industry Trend
4. Global Plant Based Plastic (Green Plastic) Market - Impact of Coronavirus (COVID-19) Pandemic
- Overview
- Factors Affecting the Global Plant Based Plastic (Green Plastic) Market - COVID-19
- Impact Analysis
5. Global Plant Based Plastic (Green Plastic) Market, By Source of Raw Material, 2019-2031 (US$ Bn)
- Introduction
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
- Corn Starch
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
- Sugarcane
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
- Cassava
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
- Others (Soy, Potato, Algae, etc.)
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
6. Global Plant Based Plastic (Green Plastic) Market, By Type, 2019-2031 (US$ Bn)
- Introduction
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
- PLA (Polylactic Acid)
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
- PHA (Polyhydroxyalkanoates)
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
- Starch-Based Plastics
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
- Other
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
7. Global Plant Based Plastic (Green Plastic) Market, By End-use Industry, 2019-2031 (US$ Bn)
- Introduction
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
- Packaging
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
- Textile
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
- Automotive & Transport
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
- Electronics & Electricals
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
- Coatings & Adhesives
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
- Agriculture & Horticulture
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
- Others (Building & Construction, etc.)
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
8. Global Plant Based Plastic (Green Plastic) Market, By Region, 2019-2031 (US$ Bn)
- Introduction
- Market Share Analysis, By Region, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, For Region, 2020 - 2031
- North America
- Market Share Analysis, By Country, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, For Region, 2020 - 2031
- Market Size and Forecast, By Source of Raw Material, 2019- 2031 (US$ Bn)
- Market Size and Forecast, By Type, 2019- 2031 (US$ Bn)
- Market Size and Forecast, By End-use Industry, 2019- 2031 (US$ Bn)
- Countries
- Latin America
- Market Share Analysis, By Country, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, For Region, 2020 - 2031
- Market Size and Forecast, By Source of Raw Material, 2019- 2031 (US$ Bn)
- Market Size and Forecast, By Type, 2019- 2031 (US$ Bn)
- Market Size and Forecast, By End-use Industry, 2019- 2031 (US$ Bn)
- Countries
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Market Share Analysis, By Country, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, For Region, 2020 - 2031
- Market Size and Forecast, By Source of Raw Material, 2019- 2031 (US$ Bn)
- Market Size and Forecast, By Type, 2019- 2031 (US$ Bn)
- Market Size and Forecast, By End-use Industry, 2019- 2031 (US$ Bn)
- Countries
- U.K.
- Germany
- Italy
- France
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- Market Share Analysis, By Country, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, For Region, 2020 - 2031
- Market Size and Forecast, By Source of Raw Material, 2019- 2031 (US$ Bn)
- Market Size and Forecast, By Type, 2019- 2031 (US$ Bn)
- Market Size and Forecast, By End-use Industry, 2019- 2031 (US$ Bn)
- Countries
- China
- India
- Japan
- ASEAN
- Australia
- South Korea
- Rest of Asia Pacific
- Middle East
- Market Share Analysis, By Country, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, For Region, 2020 - 2031
- Market Size and Forecast, By Source of Raw Material, 2019- 2031 (US$ Bn)
- Market Size and Forecast, By Type, 2019- 2031 (US$ Bn)
- Market Size and Forecast, By End-use Industry, 2019- 2031 (US$ Bn)
- Sub-regions/Countries
- GCC Countries
- Israel
- Rest of Middle East
- Africa
- Market Share Analysis, By Country, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, For Region, 2020 - 2031
- Market Size and Forecast, By Source of Raw Material, 2019- 2031 (US$ Bn)
- Market Size and Forecast, By Type, 2019- 2031 (US$ Bn)
- Market Size and Forecast, By End-use Industry, 2019- 2031 (US$ Bn)
- Sub-regions/Countries
- South Africa
- North Africa
- Central Africa
9. Competitive Landscape
- Heat Map Analysis
- Market Share Analysis (3x3 Matrix)
- Company Profiles
- Corbion
- Company Overview
- Source of Raw Material Portfolio
- Recent Developments/Updates
- BASF
- Company Overview
- Source of Raw Material Portfolio
- Recent Developments/Updates
- TotalEnergies Corbion
- Company Overview
- Source of Raw Material Portfolio
- Recent Developments/Updates
- Mitsubishi Chemical Corporation
- Company Overview
- Source of Raw Material Portfolio
- Recent Developments/Updates
- NatureWorks LLC
- Company Overview
- Source of Raw Material Portfolio
- Recent Developments/Updates
- Novamont S.p.A.
- Company Overview
- Source of Raw Material Portfolio
- Recent Developments/Updates
- Eastman Chemical Company
- Company Overview
- Source of Raw Material Portfolio
- Recent Developments/Updates
- Braskem
- Company Overview
- Source of Raw Material Portfolio
- Recent Developments/Updates
- Danimer Scientific
- Green Dot Bioplastics
- SABIC
- Futerro
- Genomatica
- Toray Industries, Inc.
- Biome Bioplastics
- Kaneka Corporation
- Arkema
- PTT MCC Biochem Co., Ltd.
10. Analyst Recommendation
- Wheel of Fortune
- Analyst View
- Coherent Opportunity Map
11. Section
- References
- Research Methodology
- About Us and Sales Contact
- Browse 50 market data tables* and 40 figures* on "Global Plant Based Plastic (Green Plastic) Market" - forecast to 2031.