India Bioplastics Market Size & Outlook, 2022-2030
India bioplastics market, 2018-2030 (US$M)
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India bioplastics market highlights
- The India bioplastics market generated a revenue of USD 178.3 million in 2022 and is expected to reach USD 761.9 million by 2030.
- The India market is expected to grow at a CAGR of 19.9% 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 178.3 million |
| Market revenue in 2030 | USD 761.9 million |
| Growth rate | 19.9% (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, India accounted for 1.5% 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 Asia Pacific, China bioplastics market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 761.9 million by 2030.
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Bioplastics Market Scope
Bioplastics Market Companies
| Name | Profile | # Employees | HQ | Website |
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India 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 54.01% in 2022. Horizon Databook has segmented the India bioplastics market based on biodegradable, non-biodegradable covering the revenue growth of each sub-segment from 2018 to 2030.
India bioplastics market is likely to ascend at the fastest CAGR over the forecast period in the Asia Pacific. The growing population, increasing foreign investments, and increasing consumption of apparel are some of the major factors that are likely to support the market growth in the country.
Moreover, rising demand for the product from medical, consumer goods, packaging, textiles, automotive, and agriculture application is anticipated to fuel the growth of the bioplastics market in the country.
In addition, government initiatives to reduce the use of single-use plastics in the country are anticipated to augment the demand for bioplastics over the forecast period. Under the “Clean India Mission” initiative, the government intends to end the use of single-use plastics by 2022.
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Horizon Databook provides a detailed overview of country-level data and insights on the India bioplastics market , including forecasts for subscribers. This country databook contains high-level insights into India bioplastics market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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India bioplastics market size, by product, 2018-2030 (US$M)
India Bioplastics Market Outlook Share, 2022 & 2030 (US$M)
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