Plant Based Plastic Market, By Source of Raw Material (Corn Starch, Sugarcane, Cassava, and Others, By Type, By End-use Industry, By Geography

Description

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.

Product Code: CMI7368

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
  - U.S.
  - Canada
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
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