Market Size of Europe Bioplastics Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Volume (2024) | 0.88 Million tons |
| Market Volume (2029) | 1.70 Million tons |
| CAGR (2024 - 2029) | 14.08 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Bioplastics Market Analysis
The Europe Bioplastics Market size is estimated at 0.88 Million tons in 2024, and is expected to reach 1.7 Million tons by 2029, growing at a CAGR of 14.08% during the forecast period (2024-2029).
Due to the COVID-19 pandemic, the market was significantly impacted in 2020. However, the market is now estimated to reach the pre-pandemic levels.
- Over the short term, major factors driving the market studied are environmental factors encouraging a paradigm shift and growing demand for bioplastics in flexible packaging.
- However, the availability of cheaper alternatives is likely to hinder the market's growth.
- Flexible packaging applications are expected to dominate the market, in terms of volume, during the forecast period.
- Growing use in the electronics industry will likely offer future market opportunities.
