Canada Bioplastics Market Size & Outlook, 2022-2030
Canada bioplastics market, 2018-2030 (US$M)
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Canada bioplastics market highlights
- The Canada bioplastics market generated a revenue of USD 419.4 million in 2022 and is expected to reach USD 1,593.1 million by 2030.
- The Canada market is expected to grow at a CAGR of 18.2% from 2023 to 2030.
- In terms of segment, biodegradable was the largest revenue generating product in 2022.
- Biodegradable is the most lucrative product segment registering the fastest growth during the forecast period.
Bioplastics market data book summary
| Market revenue in 2022 | USD 419.4 million |
| Market revenue in 2030 | USD 1,593.1 million |
| Growth rate | 18.2% (CAGR from 2022 to 2030) |
| Largest segment | Biodegradable |
| Fastest growing segment | Biodegradable |
| Historical data | 2018 - 2021 |
| Base year | 2022 |
| Forecast period | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Biodegradable, Non-Biodegradable |
| Key market players worldwide | Teijin Ltd, Toray Industries Inc, Toyota Industries Corp, Avantium NV, PTT Global Chemical PCL ADR, Cargill, SABIC, Basf SE, Trinseo PLC, Braskem SA ADR, Corbion NV, Solvay SA |
Other key industry trends
- In terms of revenue, Canada accounted for 3.6% of the global bioplastics market in 2022.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. bioplastics market is projected to lead the regional market in terms of revenue in 2030.
- U.S. is the fastest growing regional market in North America and is projected to reach USD 10,555.4 million by 2030.
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Bioplastics Market Scope
Bioplastics Market Companies
| Name | Profile | # Employees | HQ | Website |
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Canada bioplastics market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to bioplastics market will help companies and investors design strategic landscapes.
Biodegradable was the largest segment with a revenue share of 53.27% in 2022. Horizon Databook has segmented the Canada bioplastics market based on biodegradable, non-biodegradable covering the revenue growth of each sub-segment from 2018 to 2030.
Canada significantly contributes to the demand for bioplastics in North America market owing to its supportive government laws. The growth in the consumer goods sector in the country is further expected to boost Canada's bioplastics market.
The textile segment in Canada is expected to grow owing to the growing opportunities in various applications including athletics, which is further anticipated to create significant demand for bioplastics. The textile industry offers opportunities in sectors such as automotive, agriculture textiles, medical, and protective, for smart textiles and fabrics that assimilate digital monitoring components.
In addition, Michelin North America Inc. has invested in Pyrowave, a Canada-based company engaged in the development of new technology for plastic recycling that is boosting the bioplastics market in the country.
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Horizon Databook provides a detailed overview of country-level data and insights on the Canada bioplastics market , including forecasts for subscribers. This country databook contains high-level insights into Canada bioplastics market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Canada bioplastics market size, by product, 2018-2030 (US$M)
Canada Bioplastics Market Outlook Share, 2022 & 2030 (US$M)
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