Bioplastics market seen reaching $18.7 billion by 2031

The global bioplastics market is projected to nearly triple from 2021 levels as brands, packaging makers and consumers seek lower-impact alternatives to conventional plastics. Allied Market Research says biodegradable plastics led the market in 2021 and Asia-Pacific remained the top region.

Why it matters: - The bioplastics market is gaining share as companies look for materials that can help reduce plastic pollution and meet sustainability goals. - Packaging, consumer goods and agriculture are among the biggest demand drivers, making the shift commercially relevant across multiple industries. - A larger market could accelerate investment in bio-based materials, compostable products and sustainable packaging infrastructure.

What happened: - Allied Market Research valued the global bioplastics market at $6.3 billion in 2021. - The market is projected to reach $18.7 billion by 2031, based on a 11.7% compound annual growth rate from 2022 to 2031. - The report was published June 9, 2026. - Allied Market Research said the market is expanding as environmental concerns, awareness of plastic pollution and adoption of bio-based products rise. - More information is available in the report sample.

The details: - Biodegradable plastics held nearly three-fifths of global revenue in 2021. - The biodegradable plastics segment is expected to post the fastest growth through 2031, with a 12.2% CAGR. - Flexible packaging was the largest application segment in 2021, with more than one-fourth of global market share. - The consumer goods segment is projected to grow at a 13.8% CAGR through 2031. - Bioplastics are widely used in packaging films for food, pharmaceuticals and consumer products. - E-commerce growth is increasing demand for sustainable packaging. - Asia-Pacific accounted for more than two-fifths of global revenue in 2021. - Asia-Pacific is expected to remain the largest regional market and grow at a 12.4% CAGR. - China, India, Japan and South Korea are key contributors to regional growth. - North America, Europe and LAMEA are also expected to expand as sustainability rules and corporate environmental commitments tighten.

Between the lines: - The report points to packaging as the clearest commercial entry point for bioplastics, since it already combines volume demand with pressure to cut environmental impact. - Regional leadership in Asia-Pacific suggests manufacturing capacity, policy support and packaging demand are aligning faster there than in other markets. - The competitive field is still broad, with major chemical and materials companies positioning through partnerships, product launches, collaborations and capacity expansions.

What’s next: - Allied Market Research expects companies to keep investing in product innovation and larger production capacity to serve demand for sustainable materials. - The report identifies Eastman Chemical Company, Kuraray, LG Chem, BASF, Biome Technologies, CJ CheilJedang, Corbion, Danimer Scientific, Dow, Mitsubishi Chemical Holdings, Novamont and SKC as key players. - The full report is available for buyers seeking statistical data and charts.

The bottom line: - Bioplastics are moving from niche sustainability play to mainstream packaging and consumer-materials growth story, with Asia-Pacific and biodegradable plastics leading the market.