North America Bioplastics Market Size & Outlook, 2022-2030
North America bioplastics market, 2018-2030 (US$M)
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North America bioplastics market highlights
- The North America bioplastics market generated a revenue of USD 3,295.8 million in 2022.
- The market is expected to grow at a CAGR of 18.6% 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.
- Country-wise, U.S. is expected to register the highest CAGR from 2023 to 2030.
North America data book summary
| Market revenue in 2022 | USD 3,295.8 million |
| Market revenue in 2030 | USD 12,942.8 million |
| Growth rate | 18.6% (CAGR from 2022 to 2030) |
| Largest segment | Biodegradable |
| Fastest growing segment | Biodegradable |
| Historical data covered | 2018 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 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, North America region accounted for 28.4% of the global bioplastics market in 2022.
- Globally, Europe is projected to lead the regional market in terms of revenue in 2030.
- Latin America is the fastest growing regional market and is projected to reach USD 2,605.3 million by 2030.
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Bioplastics Market Scope
Bioplastics Market Companies
| Name | Profile | # Employees | HQ | Website |
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North America 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 54.3% in 2022. Horizon Databook has segmented the North America bioplastics market based on biodegradable, non-biodegradable covering the revenue growth of each sub-segment from 2018 to 2030.
Certain key factors such as stringent government regulations and clean-up initiatives taken by the EPA like short-term cleanups of National Priorities List (NPL) sites, waste sites, or sites with the possibility of release of hazardous materials are likely to drive the demand for bioplastics in the region in the coming years.
For instance, ASTM D6400 is the standard specification for plastic products falling under the category of compostable or biodegradable products, which must decompose completely in a composting setting without leaving behind any harmful residues afterward. Such government measures are further expected to augment the demand for bioplastics in the coming years.
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Horizon Databook provides a detailed overview of continent-level data and insights on the North America bioplastics market , including forecasts for subscribers. This continent databook contains high-level insights into North America bioplastics market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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North America bioplastics market size, by country, 2018-2030 (US$M)
North America Bioplastics Market Outlook Share, 2022 & 2030 (US$M)
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