Bioplastics Market by Application
The biodegradable plastic segment held the dominating market share in 2021, holding nearly three-fifths of the global market.
PORTLAND, OREGON, UNITED STATES, May 19, 2023 /EINPresswire.com/ -- The biodegradable plastic segment held the dominating market share in 2021, holding nearly three-fifths of the global bioplastics market, and is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 12.2% during the forecast period. The report also analyses other segment of the market such as non-biodegradable plastic.
The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
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This makes it important to understand the practical implications of the Bioplastics market. To gain a competitive advantage, the players must have something unique. By tapping into the untapped market segment, they can establish a relevant point of differentiation, and this report offers an extension analysis of untapped segments to benefit the market players and new entrants to gain the market share.
The flexible packaging segment held the largest market share in 2021, garnering more than one-fourth of the global market, and is expected to maintain its leadership status during the forecast period. The consumer goods segment, on the other hand, is predicted to cite the fastest CAGR of 13.8% during the forecast period.
KEY MARKET PLAYERS:
The report provides the SWOT analysis of the key market players BASF SE, Biome Technologies Plc., CJ CheilJedang Corp., Corbion N.V., Danimer Scientific, Dow Inc., Eastman Chemical Company, Kuraray Co. Ltd., LG Chem. which gives the business overview, financial analysis, and portfolio analysis of products and services. The latest news related to industry developments in terms of market expansions, acquisitions, growth strategies, joint ventures, collaborations, product launches, market expansions etc. are included in the report for the better understanding of the stakeholders in framing strategic decisions to gain long term profitability and market share.
Increase in inclination toward bio-based products to reduce the dependency over conventional plastics, rise in environmental concerns among consumers, and surge in demand for eco-friendly alternatives are expected to drive the growth of the global bioplastics market. Closed manufacturing facilities, reduced workforce, and unavailability of raw materials during the COVID-19 pandemic had a negative impact on the growth of the market.
NEED FOR THE REPORT:
The current situation of pandemic makes it very important for the stakeholders in the Bioplastics market to understand the market deeply, which will help them in taking sound decisions, to gain the competitive advantage. By exploring the unexplored areas of market, the key players can surely gain a larger market share.
According to the report published by Allied Market Research, the global bioplastics market generated $6.3 billion in 2021, and is projected to reach $18.7 billion by 2031, growing at a CAGR of 11.7% from 2022 to 2031.
KEY OFFERINGS OF THE REPORT:
Key drivers & Opportunities: An extensive analysis on key factors and opportunities available in different segments for strategizing.
Current trends & forecasts: A comprehensive analysis on latest trends, and forecasts for next few years to frame strategic decisions as a next step.
Segmental analysis: An extensive analysis of each segment and driving factors such as revenue and growth rate is offered.
Regional Analysis: A thorough analysis of each geographic region can help market players devise expansion strategies and gain from the opportunity.
Competitive Landscape: Useful insights on each of the leading market players for outlining competitive scenario and related strategies have been offered in the report.
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About Us
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.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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