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Explore the latest trends and actionable insights on the Brazil Bioplastics market to inform business strategy and pinpoint opportunities and risks

Market Size of Biodegradable Plastics in Brazil (2017 – 2021)

Industry: Packaging Services
Current: Market Sizing & Shares

The Market value of Biodegradable plastics in Brazil reached $375.4 million in 2021
During the same period, the industry witnessed a Market volume of 105.1 thousand tonnes
The industry recorded a historical growth (CAGR) of 11.0% between 2017 and 2021 in terms of value, while the underlying market volume grew (CAGR) by 6.5% between 2017 and 2021

Market Size of Biodegradable Plastics in Brazil (2017 – 2021)

Eco-friendly properties of bioplastics, consumers’ acceptance of plant-based products, legislative backing for the development of degradable packaging materials, and abundant supply of renewable raw material sources to produce bioplastics are some of the major factors propelling the market for bioplastics. Bioplastic production is highly energy-efficient as it requires 65% less energy in comparison to the manufacture of conventional plastic. It also significantly reduces wastage as these materials do not have any toxicity and can degrade easily and emit lower amount of greenhouse gases (GHG) during degradation. Furthermore, increased demand for bioplastics is expected to reduce the consumption of petroleum used for the production of conventional plastic by 15–20% by 2025.

Bioplastics are produced from natural resources such as vegetable oils and starches. They can be segregated into bio-based, non-biodegradable plastics, and biodegradable plastics. Biodegradable plastics are considered fully green as they are made from renewable resources. Bio-degradable plastic is called circular when it comes to managing waste because its components are mostly either reused or recycled.

The global market for biodegradable plastics is projected to grow at a compound annual growth rate (CAGR) of more than 24% during 2021–26. Brazil is one of the largest producers of bio-degradable plastic along with China, the United States, Germany, and Canada among the top five countries. Brazil’s bio-degradable plastic market was valued at $375 million in 2021 with a market volume of 105 thousand Tonnes. The country’s market grew at a CAGR of 11.0% during 2017–21 in terms of value, and the volume also grew at a CAGR of 6.5% during 2017–21.

The European Union and the United Nations are the major advocators and motivators of the bioplastics market. Major economies such as the US and China, along with the EU member countries, have unveiled significant bio-economy strategies, and the list of other countries producing their bio-economy strategies is growing. Owing to the presence of a significant number of countries in the UN and the EU, the Bioeconomy Strategy and Action Plans could stimulate policy actions directly targeting the bioplastics market. A crucial step for the governments could be to implement measures aimed at the development of essential scale-up facilities and demonstrator plants, perhaps via public-private partnerships.

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