Bioplastics Production Expected to Double by 2026

Bioplastics Production

As per European Bioplastics data as well as a report released in 2023 by the NOVA Institute, worldwide bioplastics production is expected to increase more than twofold by 2026, reaching from about 2.2 million tons in 2023 to over 4.8 million tons in 2026. Following stagnation in production by plastics worldwide during recent years, the total plastic production worldwide is now increasing once more in 2023. The reason behind this trend is increasing demand coupled with the opening up of more advanced applications and products. Worldwide bioplastics manufacturing capacity is projected to grow substantially from approximately 2.18 million tonnes in 2023 to about 7.43 million tonnes in 2028. Asia is expected to lead this bioplastics production boom, with over 60% of global bioplastics manufacturing capacity projected to be based in the region by 2026.

• “The growth in bioplastics production capacity should be understood in the broader global context of a climate crisis, escalating energy costs, and disrupted value chains. Despite these challenges, the capacity for bioplastics production is on the rise, underscoring the resilience and significance of our industry”, states Hasso von Pogrell, Managing Director of European Bioplastics (EUBP).
• Bioplastics polymer materials produced from renewable biomass feedstocks such as corn starch, sugarcane, or used cooking oil are becoming increasingly seen as the answer to the global problem of plastic waste. Bioplastics are applied to an increasingly diverse range of uses, from packaging and consumer goods to electronics, transportation, and fabrics. Packaging remains the biggest application for bioplastics at 43 percent (934,000 tonnes) of the total bioplastics market in 2023. Governments around the world are clamping down on single-use plastics, and large companies are pledging to reduce plastic footprints, so the demand for bioplastics applied in packaging, consumer goods, agriculture, and automotive sectors is growing very quickly.
• Besides this, corporates' sustainability pledges are driving market expansion. Multi-national organizations such as Coca-Cola, Nestlé, and Unilever have made multi-national bioplastic packaging the norm as part of their multi-national sustainability initiatives. Coca-Cola's "PlantBottle" initiative, utilizing PET partly made from sugarcane, is one prime example of bioplastics going mainstream in commercial applications.
• Substituting synthetic plastics with bioplastics, primarily due to their innate biodegradable characteristics, is an exceptionally practical solution for remedying the current world issue of plastic waste dumping in the environment. Developmental research into bioplastics has made significant progress with the manufacture of material bearing improved characteristics, thus facilitating opportunities for using it in a vast range of applications across primary commercial industries. Bioplastics production can be done from various natural materials such as plants, animals, and microorganisms. Polyhydroxyalkanoate (PHA), a biopolymer that is derived from bacteria through microbial fermentation, has similar physicochemical and mechanical characteristics to man-made plastics. The foundation COP28 conference, buttressed by the IPCC report, spurred brand-owner pledges to decarbonization as well.
• This excess demand is compelling producers to increase their capacities more rapidly, with several brand owners partnering up to hasten the scaling-up process. Several companies are now breaking through the commercial scale barrier, and with advancing technology, bioplastics are being made at reduced prices.  Consumers are also more likely now to pay the premium price for sustainable bioplastics.  Overall, these are compelling bioplastics to be less expensive and more competitive with traditional plastics. As industrial sustainability pledges increase, feedstock competition with food manufacturing and enhanced composting infrastructure will be necessary to provide support for the bioplastics system.
• Given proper policy schemes and technological development, bioplastics have a significant potential to help diminish plastic pollution and the use of petroleum while developing new economic avenues for the bio economy. Bioplastics have a bright future but are contingent on policy congruence, industrial cooperation, and consumer sensitivity. With proper innovation and regulation, bioplastics might redefine the material pillars of a more sustainable future.